CONSTRUCTION

More housing for Tunisia

Sama Dubai, the property arm of Dubai Holding, plans to build a residential complex north of Tunis, the capital city of Tunisia, with a total investment of $14bn. The complex is set to occupy 837 hectares and provide about 150,000 jobs for Tunisians. It is expected to be the largest development project in the history of the north African state.

Advertisement

 

PRODUCTION

Orascom plans Algeria plant

Orascom Construction Industries announced the development of a $1.8bn facility to produce fertiliser on the Mediterranean coast of Algeria in partnership with Sonatrach, the Algerian state-owned oil and gas company. Cement producer and construction contractor Orascom is active in emerging markets. Based in Cairo, it employs more than 40,000 people in more than 20 countries, including Egypt, Algeria, Turkey, Pakistan, northern Iraq and Spain.

Aluminium giant in Dubai

Darvash Group plans to invest $817m to build an aluminium processing plant in Dubai, which it claimed would be the world’s biggest. The plant, called Noval, is expected to have a capacity of 350,000 tonnes per year when finished in 2010. It plans to source raw material from Gulf aluminium producers and make finished goods used in construction and packaging.

Essar wants Iran refinery

India’s Essar, a multi-billion dollar steel-to-telecoms conglomerate, plans to set up a new oil refinery in Bandar-Abbas, Iran’s oil-rich southern region. The estimated $2bn-plus plant is expected to yield 300,000 barrels per day. With a firm foothold in India, Essar Global Ltd has been focusing on global expansion with projects/investments in Canada, the US, Africa, the Middle East, the Caribbean and south-east Asia.

Ethylene joint venture

Basell Polyolefins and Saudi’s National Industrialization have formed a $2.67bn joint venture company to produce ethylene and polyethylene, the Saudi Ethylene and Polyethylene Company. The company aims to produce about one million tonnes per year (tpy) of ethylene, 285,000tpy of propylene, 400,000tpy of high-density polyethylene and 400,000tpy of low-density polyethylene.

LOGISTICS

New port terminal for Egypt

The Kuwait Gulf and Link (KGL) Transport Company announced plans to build a $1bn container terminal at the Egyptian port of Dumiat. It is expected to create more than 8000 jobs and bring an investment of $1bn. KGL, a provider of logistics management services, has a market capitalisation of more than $1bn, and a global network of service offices and warehousing facilities.

This investment news and data has been provided by OCO Consulting, 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.

www.ococonsulting.com

STATS: