Abu Dhabi: Abu Dhabi-based Al Maabar International Investments has lined up overseas investments worth $11.5 billion (Dh42.2 billion) over 10 years, its managing director said on Monday.
The investments will be in real estate projects in Morocco, Libya, Tunisia, Qatar, Belarus and Jordan, said Yousef M. Al Nowais.
"Our focus is international and our mandate is to develop projects outside Abu Dhabi. Two of our overseas projects are already on the ground - in Morocco and in Libya," Al Nowais told a news conference.
"These are to be immediately funded. The rest of the projects are long-term - they are now either under initial master plan or are going into detail design," Al Nowais said.
He said $1 billion will be spent over the next three years for developing Al Maabar's overseas projects. "We have secured the funds. The funding of our projects is by our stakeholders and others. There's no immediate need for us to raise money on the capital markets," Al Nowais added.
The estimated construction cost of the projects include $618 million for Morocco, $300 million for Libya, $1.3 billion for the first phase of development in Tunisia, $380 million for Qatar, $500 million for Belarus and $8.3 billion for Jordan, Al Nowais added.
Al Maabar also unveiled at the news conference its plans for a mixed-use waterfront development in Aqaba, Jordan. The 3.2-million square metre development will include the relocation and modernisation of the port facilities of the strategically-located Red Sea city and development of the mixed-use waterfront infrastructure.
The project in Jordan will have high-rise residential towers, a retail district, recreational and entertainment districts and several branded waterfront hotels and resorts, Al Nowais said.
"The Jordan project is scheduled to be completed in two phases. The first phase is expected to be completed in 2013 and the second in 2017," a statement from Al Maabar said.
Al Nowais said Al Maabar's Bab Al Bahr mixed-use project in Morocco will be completed in three years and construction will start this month.
Joint venture
Construction has started on the Libya project - Al Waha - and will be developed over a four-year period, he said.
The Libya project is a 50-50 joint venture between Al Maabar and Libya Investment & Development Company (Lidco).
Al Nowais said their project in Tunisia - Bled Elward - will be developed over a 20-year period.
Two sites
For the first phase I of the project that will have a development area of 300 hectares, the construction works are to be carried out over five years.
As for Belarus, he said, Al Maabar has identified two sites in Minsk for development.
Al Maabar was formed in September 2006, as a strat-egic joint venture among five of the largest Abu Dhabi-based real estate developers - Aldar Properties PJSC, Sorouh Real Estate, Reem Investments, Reem International and Al Qudra Holdings.
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
Showing posts with label libya. Show all posts
Showing posts with label libya. Show all posts
Sunday, October 5, 2008
Saturday, October 4, 2008
Foreign investment and Business opportunities for US Companies in Libya.
United States Department of State - Libya
DEPARTMENT OF STATE
[Public Notice 5464]
Rescission of Determination
Regarding Libya
In accordance with section 6(j) of the
Export Administration Act of 1979 (50
U.S.C. App. 2405(j)), and as continued
in effect by Executive Order 13222 of
August 17, 2001, I hereby rescind the
Determination of December 29, 1979
regarding Libya (Public Notice 1264).
This action is based upon the
considerations contained in the
memorandum accompanying
Presidential Determination No. 2006–14
of May 12, 2006, [71 FR 31909]
This rescission shall also satisfy the
provisions of section 620A(c) of the
Foreign Assistance Act of 1961, Public
Law 87–195, as amended (22 U.S.C.
2371(c)), and section 40(f) of the Arms
Export Control Act, Public Law 90–629,
as amended (22 U.S.C. 2780(f)).
Dated: June 30, 2006.
Condoleezza Rice,
Secretary of State, Department of State.
[FR Doc. E6–11046 Filed 7–12–06; 8:45 am]
September, 2008 US Secretary of State Condoleezza Rice's visit to Tripoli, Libya on September 4, and the settlement of outstanding US and Libyan compensation claims, clears the way for more US firms to enter the Libyan market. Interest from foreign investors and businesses in opportunities in Libya is as high as ever.
The Libyan economy is driven by the oil and gas sector accounting for 95% of the country’s export revenues. Economic reform is a top priority for the Libyan government, despite the complexities of Libya policy-makers.
Opportunities exist for US Companies in a wide range of sectors including:
Oil and Gas Services
Refining
Transport
Engineering Services
Construction - Housing – 70,000 units per year.
Road and Bridge construction, including 1400 miles of road upgrades.
Seaports Modernization
Construction of schools and hospitals
Tourism – growth in hotel construction is forecast to increase the number of beds to 10,000 by 2010 as part of a US$7 billion tourist development plan.
Airports Construction – a new terminal at Tripoli International Airport and the construction of a new airport in Benghazi are a priority
Power and electricity – the power sector is set to double in terms of output from 4,700MW to 9,700MW within the next five years at a projected cost of US$7.5 billion
Desalination and Water Treatment –
Water and sewerage projects – US$6 billion has been allocated to waste water systems and management.
Information Technology
Education and Training
Manufacturing
Tourism
Consulting
Medical Technology and Training
Agriculture
Safety and Security Equipment including Fire Safety
US Export Council 2008
The US Export Council provides assistance to American firms seeking access to international export markets in the Gulf States, Middle East and http://www.usexportcouncil.com/
DEPARTMENT OF STATE
[Public Notice 5464]
Rescission of Determination
Regarding Libya
In accordance with section 6(j) of the
Export Administration Act of 1979 (50
U.S.C. App. 2405(j)), and as continued
in effect by Executive Order 13222 of
August 17, 2001, I hereby rescind the
Determination of December 29, 1979
regarding Libya (Public Notice 1264).
This action is based upon the
considerations contained in the
memorandum accompanying
Presidential Determination No. 2006–14
of May 12, 2006, [71 FR 31909]
This rescission shall also satisfy the
provisions of section 620A(c) of the
Foreign Assistance Act of 1961, Public
Law 87–195, as amended (22 U.S.C.
2371(c)), and section 40(f) of the Arms
Export Control Act, Public Law 90–629,
as amended (22 U.S.C. 2780(f)).
Dated: June 30, 2006.
Condoleezza Rice,
Secretary of State, Department of State.
[FR Doc. E6–11046 Filed 7–12–06; 8:45 am]
September, 2008 US Secretary of State Condoleezza Rice's visit to Tripoli, Libya on September 4, and the settlement of outstanding US and Libyan compensation claims, clears the way for more US firms to enter the Libyan market. Interest from foreign investors and businesses in opportunities in Libya is as high as ever.
The Libyan economy is driven by the oil and gas sector accounting for 95% of the country’s export revenues. Economic reform is a top priority for the Libyan government, despite the complexities of Libya policy-makers.
Opportunities exist for US Companies in a wide range of sectors including:
Oil and Gas Services
Refining
Transport
Engineering Services
Construction - Housing – 70,000 units per year.
Road and Bridge construction, including 1400 miles of road upgrades.
Seaports Modernization
Construction of schools and hospitals
Tourism – growth in hotel construction is forecast to increase the number of beds to 10,000 by 2010 as part of a US$7 billion tourist development plan.
Airports Construction – a new terminal at Tripoli International Airport and the construction of a new airport in Benghazi are a priority
Power and electricity – the power sector is set to double in terms of output from 4,700MW to 9,700MW within the next five years at a projected cost of US$7.5 billion
Desalination and Water Treatment –
Water and sewerage projects – US$6 billion has been allocated to waste water systems and management.
Information Technology
Education and Training
Manufacturing
Tourism
Consulting
Medical Technology and Training
Agriculture
Safety and Security Equipment including Fire Safety
US Export Council 2008
The US Export Council provides assistance to American firms seeking access to international export markets in the Gulf States, Middle East and http://www.usexportcouncil.com/
Monday, September 29, 2008
Libya to build Aluminium Smelter
The world's top aluminium firm United Company Rusal has signed an agreement with Libya to build an aluminium smelter in Libya with an annual capacity of 600,000 tonnes, reported AP. The parties also have agreed to build a 1,500 megawatt gas power station to supply energy to the smelter. The natural gas for the complex will be supplied by the National Oil Company of Libya under a contract intended to last at least 30 years. UC Rusal was formed in March 2007 by a merger between Russian producers Rusal and Sual, and the assets of Switzerland-based commodities trader Glencore.
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