Algeria to Invite Bids to Build Three Solar Power Plants – Minister

Algeria plans to invite bids for construction of three photovoltaic solar power plants with total capacity of about 4,000 megawatts (MW), and several energy and financial firms are already interested, the energy ministry said.

Algeria, member of the Organization for the Petroleum Exporting Countries, has been exploring renewable energy as a way to meet growing demand for electricity, while also freeing up more natural gas for export.

Energy Minister Nouredine Bouterfa said in a statement late on Thursday the ministry would issue tenders for the three projects, without giving a specific timeline.

The three plants would help meet Algeria’s domestic demand for power and allow for exports of power to neighbouring countries, a source at the Energy Ministry told Reuters.

Several financial institutions, including the French Agency for Development and the African Bank for Development, have shown interest in funding the project, according to the Energy Ministry, calling it a “multi-billion dollar” project.

Sonatrach, Algeria’s giant state oil and gas firm, would fund about 50 percent of the cost of the three plants, a Sonatrach official said.

Last year, Italy’s ENI signed a deal with Sonatrach to develop renewable projects in Algeria.

U.S. firm General Electric had also shown interest in the solar plants with planned capacity of 4,000 MW, the Energy Ministry sources said.

Hit by a crash in revenues due to lower global oil prices, Algeria has been doubling efforts to increase gas exports after several years of stagnant production. Several new gas fields have come on stream in the past year.

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

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Qatar to Award $30bn Deals Next Year – Investment Advice from CWIIL Group of Companies

Qatar is set to award $30 billion worth of contracts in 2016, according to a new report.

Samba Financial Group, in its latest Qatar report, said it expects the second half of 2015 and 2016 “will be very busy with project activity”.

Citing research from MEED, the report said that with $30 billion to be awarded this year, Samba expects a similar amount to be spent next year, as the country accelerates its preparations for the FIFA World Cup, which will see $135 billion worth of contracts awarded in Qatar between 2015-2020.

“The government’s investment program will be one of the key determinants of economic performance over the medium-term. Although there is evidence that the authorities have scaled down certain projects in the light of the sustained fall in the oil price, crucially we expect most of the planned investment will go ahead,” the report said.

“The scale of investment relative to the size of the country, and the looming deadline of the 2022 World Cup, are challenging. But the authorities are well aware of the issues, including the risks of overheating, over-spending and poor yielding investments, and are looking to set up appropriate timelines and management processes,” it added.

The report said Qatar’s economy expanded by 4.1 percent in the first quarter of 2015, on the back of strong growth in the non-hydrocarbon sector. In particular, there were strong performances from trade, restaurants and hotels, construction and finance, it said.

There are slight concerns about the banking sector, with liquidity said to be tightening as robust double-digit credit growth has not been matched by deposit growth which is being curtailed by falling public sector deposits.

“This is worth monitoring, but we believe that the authorities have ample resources to address any liquidity and funding issues, although public sector projects may take priority over private sector lending,” the report said.

The report said it expects Qatar to maintain the exchange rate peg to the dollar.

“As regards the exchange rate peg, although there has been some muted pressure in the forwards markets, we fully expect the Qatari Riyal to maintain its peg to the dollar. Its macro-fundamentals remain sound, external assets large, and there are few policy advantages from abandoning the peg which has served Qatar well.”

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

New Business Opportunities For Expanding in the Middle East – Specialized Advice From CWIIL Group

Many foreign entrepreneurs say that the Middle East is a “land of promise” for expatriates and even companies wishing to do business in the region. However, there are several drawbacks. Unlike Asian and European markets, it does not have a steady supply of trained manpower. The people are not industrious compared to other populations. Employees do not come cheap. Thus, entrepreneurial risks are greater.

The Middle East is composed of seven countries which are the top oil manufacturers in the world. However, it seems like the oil surge has made ordinary business standards look inappropriate. Too much wealth erased the need to obtain qualifications or craft smart business decisions. Yet, the economies of nations like the United Arab Emirates, Kingdom of Saudi Arabia, Bahrain, Iran, Kuwait, Qatar, Oman, and Yemen are booming. They offer numerous stimulating investment and trade prospects for investors and exporters.

According to a private research study, the Middle East affords potential investors with considerable growth prospects in the defence, maritime, automotive, energy, and chemical industries. Incidentally, statistics released by the International Monetary Fund through its World Economic Outlook Database disclosed that the export value of Middle East was roughly USS1.13 trillion by the end of 2012. This was approximately 6.2 percent of the total worth of global exports. The combined Gross Domestic Product of all Middle Eastern nations was about US $3.96 trillion during the same year.

Opportunities in Top Five Countries

Let us take a look at various investment opportunities in 18 Middle East countries that can help spur exports in the region:

Saudi Arabia is the biggest producer of crude oil worldwide. Despite this stature and riches, the government continues to encourage private sector expansion to reduce the nation’s reliance on oil and increase job opportunities for the country’s growing populace. The Saudi Arabian government offers multiple incentives to foreign investors. The top industry right now is Agriculture.

The climate and terrain does not support much food production. Therefore, most agricultural crops are still imported from neighbouring countries. The only produce that thrives despite the arid and hot weather includes barley, wheat and date palms. There is more demand than supply so you may want to start an enterprise that imports fresh produce from other countries. The other sector is real estate. There is increasing demand for residential units and other buildings as the economy and population keep on growing. The opportunities for property investors are simply overflowing.

The United Arab Emirates specifically the trade capital (Dubai) is a business core. It provides hassle-free access to consumer markets in other Middle East nations, Commonwealth of Independents States, Africa, West Asia, and Eastern Europe. Starting a business at the UAE is not difficult. The progressive administration maintains lenient policies and gives incentives for foreign entrepreneurs. Taxation is nearly non-existent except for tobacco processing, oil and banking. Besides, it formulated a long-term plan that concentrates on growing start-ups.

The foremost industry is construction. The UAE needs engineers and other professionals in the construction and building sector. You can also form businesses that produce or sell raw materials for these two industries. Oil and gas spearhead the country’s economy. There is sufficient room to take in new investors. One option is to begin your businesses from scratch or team up with existing ventures.

Kuwait used to have a law stipulating that any investor should have a local partner with a minimum of 51 percent business equity. However, the enactment of the Foreign Direct Investment Law (8/2001) led to more relaxed requirements. Foreign companies were allowed to incorporate even without a Kuwaiti partner. Foreigners are allowed to participate in industrial activities but not oil/gas exploration and production. So far, the recommended sectors are construction and infrastructure particularly in energy, communications and drainage systems. The other is information technology and development of software applications.

Bahrain boasts of a modern regulatory and legal structure, open border policy, infrastructure, and highly educated workforce. In short, the country has all the basics making it attractive to investors. The most ideal investment opportunity is the petroleum industry particularly processing and refining. A second alternative is transportation. Bahrain is an excellent location for shipping consignment in and out of the country. This is free of tax. It is a trans-shipment port which is the main reason for the presence of many businesses in the country.

Qatar is a relatively small country but the economy is very strong. Policies are also friendly to investors. The first opportunity you may want to put in resources is the manufacture and marketing of building materials for local consumption. This is lucrative since buildings are constructed every day. Information technology is a rewarding business because there is a scarcity of IT specialists in this country.

Prospects in Other Countries

Cyprus has evolved into a reliable global business hub particularly in the services sector. The shipping business can be a good choice because the country ranks among the foremost maritime nations worldwide. Cyprus merchant vessels represent 16 percent of the fleet with European Union flags. The banking industry is also flourishing with a broad range of local and global services like insurance, investments, mutual fund management, and asset administration.

The strict investment policies in Egypt have been relaxed. Businessmen looking at Egypt should consider the cluster of petroleum, energy generation and transmission, information technology, and telecommunications. On the other hand, tourism is the biggest earner in terms of foreign exchange and employs over 10 percent of the Egyptian workforce.

Iran has an abundance of business opportunities. With a population of 78 million and second biggest gas reserves in the world, this country is one of the first three consumers of Muslim food in the Middle East valued at 77 billion one year ago. Iran is also the second largest market for Muslim clothing.

Israel is another very small but highly developed nation. The Jewish nation has become very competitive in the information technology and pharmaceutical sectors.

Lebanon is the main trading partner of the United States, Italy, Germany, France, and China. Starting an enterprise is rather easy although corruption can be a problem. Nonetheless, opportunities are focused on the electricity sector as well as oil and gas exploration.

Business potentials in Northern Cyprus include retail, restaurants, water sports, construction, property management, and real estate.

It is necessary to undergo a long process and submit numerous requirements if you want to launch a business in Oman. However, the primary investment areas in the country consist of tourism, infrastructure and public utility services.

At the recent Palestine Investment Conference (2010), business leaders and private entrepreneurs met regarding potential businesses in the fields of tourism and manufacturing which are the top two. Other sectors were information and communications technology, housing, agribusiness, environment, and tourism.

Turkey has the 16th largest economy in the whole world and the sixth in Europe. The country has a high-growth market with construction and information technology as the top two profitable enterprises for foreigners.

Conclusion

Indeed, there are limitations for entrepreneurs who want to start a business anywhere in the Middle East. Political and economic transformations have opened and closed doors for businesses. Despite the risks, corporations, as well as small and medium enterprises, remain open to options.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.