Solidere opens in Dubai


Lebanon’s Solidere, the fourth largest Arab real estate developer by market value, has started a Dubai affiliate to expand abroad.

The company, called Solidere International, is based in the Dubai International Financial Centre, and had partnered with the government of the emirate of Ajman to build a 12 million-square-metre residential and business complex near the Dubai Airport.


Thermosolar energy plant

Spain’s Abengoa has won a bid to build a €469m thermosolar station in Morocco. The plant will use integrated combined-cycle technology with solar fields with parabolic-cylindrical solar collectors and will produce 470 megawatts of electricity. Twenty megawatts will be produced by the 183,000-square-metre solar field through parabolic-cylindrical mirrors technology


Sumitomo in Madagascar

Sumitomo Corporation is to develop one of the world’s largest nickel and cobalt mines in Madagascar jointly with Canadian and South Korean companies.

The Ambatovy Nickel Project will be capable of producing an estimated 60,000 metric tonnes of nickel metal, 5600 tonnes of cobalt metal and 190,000 tonnes of ammonium sulphate, starting in the middle of 2010.


Chemical plant in Abu Dhabi

Simon Carves, a subsidiary of Punj Lloyd, has plans to set up a complex for the production of fluoride in Abu Dhabi.

The complex would be built as part of the second phase of the Industrial City of Abu Dhabi (ICADII). The zone will have separate plants for the production of anhydrous hydrofluoric acid and aluminium fluoride (AIF3). The complex, scheduled for completion in 2009, will initially have an annual capacity of 60,000 tonnes of AIF3. Swiss company Buss Chem Tech will provide the technology and critical equipment for the plant.

South African cement works

Orascom Construction Industries, a leading cement producer and construction contractor active in emerging markets, says it plans to invest $440m in a new cement plant in North West Province, South Africa. The new plant, which will have a production capacity of 2 million tonnes per year, is expected to begin production in 2010.

Renault factory in Morocco

The Renault-Nissan Motor Company group is to construct an auto manufacturing plant in Morocco, which will be capable of producing 400,000 vehicles a year.

This investment news and data has been provided by OCO Global, a provider of strategic consulting services for economic development organisations in the area of FDI. Key services include management consultancy, investor targeting services, training and mentoring, and software development.