jeudi 2 avril 2009
samedi 21 février 2009
De l’impulsion des pays du Golfe dans l’essor des énergies renouvelables
lundi 26 janvier 2009
Delays in Gulf work hit Group Five, M&R
Group Five yesterday reported the termination of one contract and the suspension of another by Dubai government authorities. The value to Group Five of work still to be done on the two unspecified contracts is almost R4 billion.
The group said it would be fully compensated for the costs it incurred in the two contracts with a reasonable margin.
Its other contracts in Dubai, Jordan and Abu Dhabi, valued at R563 million, are unaffected.
Despite these developments and tougher market conditions, Group Five said it expected to achieve strong growth in earnings for the year to June.
Headline earnings a share for the six months to December would be between 45 percent and 55 percent higher than a year earlier, it estimated.
M&R this week reported that Sama Dubai had terminated the Salam Resort Project in Bahrain.
Late last year, M&R reported that the Trump Towers project in Dubai had been suspended until the global economy stabilised. The contract's value in M&R's order book in September amounted to R3.2 billion, of which R500 million related to the current financial year.
M&R said at the time the suspension of Trump Towers would not have a material impact on its prospects. It later won part of a R14.6 billion contract for Dubai International Airport's Concourse 3. M&R said its share in the venture was valued at about R6 billion.
Wilson Bayly Holmes-Ovcon chairman Mike Wylie yesterday confirmed the group was still looking to expand into the Middle East market, but had not yet "put our plans to bed".
Wylie said the group would pursue opportunities in the Middle East carefully.
Quentin Ivan, an analyst at Coronation Fund Managers, said the visibility of work from the region had deteriorated and the outlook for future work continued to be very murky.
"Credit is the oxygen of infrastructure projects because they need to be funded."
He said it might take time for construction firms to replace such projects on their books.
Mike Upton, the chief executive of Group Five, admitted that the group would have to replace the Middle East revenue "in some way or another".
But Upton said a lot of the revenue from these contracts was booked in the group's 2010 financial year and it had time to replace them.
Barclays may give up more control to Gulf
jeudi 4 septembre 2008
WBHO’s building division eyes international expansion
jeudi 15 mai 2008
SA, Qatar to advance South-South relations
President Thabo Mbeki, accompanied by the First Lady Zanele Mbeki, will on Monday, 5 May, depart for Doha, Qatar, for a two-day state visit.
President Mbeki with his high powered government and business delegation will visit Qatar within the context of South Africa's priority to strengthen relations between both countries, according to the Department of Foreign Affairs.
On Tuesday, His Highness Shaikh Hamad bin Khalifa Al-Thani, Amir of the State of Qatar, will hold bilateral discussions with President Mbeki.
The discussions are expected to include Qatar's support for the South African government's Joint Initiative for Priority Skills Acquisition (JIPSA) and the Accelerated and Shared Growth Initiative of South Africa (AsgiSA) programmes which aim to halve unemployment and poverty by 2014.
On Wednesday, Mbeki is expected to participate in a South Africa - Qatar Business Seminar.
Qatar is strategically of great importance to South Africa as it contains oil reserves of 15.21 billion barrels, while its natural gas reserves exceed 25 trillion cubic meters.
Partnership between the two countries has seen the establishment of $900 million Oryx Gas-to-Liquid plant is a joint venture between SASOL and Qatar Petroleum.
It is one of the largest joint venture projects involving a South African company in the Middle East.
The project has enhanced South Africa's stature as world-leader in the field and a reliable technology partner.
Priority investment
In addition investment from Qatar has totalled $400 million into South Africa and Africa in the PME Infrastructure Management Limited Fund.
The fund is investing in infrastructure in Africa and is concentrating on the areas of transportation, communication and energy.
According to the Government of Qatar, the fund gives priority to investments in South Africa, as it is the most suitable country to invest in compared to other African countries.
The fund is considered to be the first investment by the Qatar Investment Authority in South Africa.
The South African delegation is expected to include Ministers Mosiuoa Lekota, Mandisi Mpahlwa, Buyelwa Sonjica, Deputy Foreign Minister Aziz Pahad and South Africa's Ambassador to Qatar Vincent Zulu.
The government delegation will be accompanied by senior business representatives from Ukubona Holdings, the Industrial Development Co-operation, Trade and Investment KwaZulu-Natal, National African Federated Chambers of Commerce, Sekunjalo Investment, the National Empowerment Fund, Bravura Empowerment, Coega Industrial Development Zone, Tristar Holdings, UNIGAS, PetroSA and Standard Bank, among others.
President Mbeki is expected to return to South Africa on Thursday.
dimanche 27 janvier 2008
Dubai's DP World buys stake in Mozambique firm
DP World, the world's fourth-largest container-port handler, bought 48,5 percent of Portus Indico-Sociedade de Servicos Portuarios.
Portus Indico owns 51 percent of Maputo Port Development Co, which manages Maputo port.
"Maputo is also one of the main corridors for the southern African hinterland," DP World CEO Mohammed Sharaf said in a statement. "We plan to invest further in container handling facilities there."
DP World already operates in Maputo, managing the container terminal at the port through Maputo International Port Services, of which it owns 60 percent.
Dubai government eyes more investment in SA
By Xolile Bhengu, 10 Jan 2008 - Inet Bridge
A company appointed to find the best investments for the Dubai government is expanding its portfolio in South Africa, and has big plans for the African region.
Dubai World, holding company of South African-based Dubai World Africa Services, which owns the V&A Waterfront in Cape Town, manages and supervises businesses and projects for the United Arab Emirates’ government.
The company said it had recruited senior managers for its African office.
Shadleigh Roscoe, marketing and public relations manager at Dubai World Africa Services, said the company had played a major role in developing Dubai into the leading centre for finance and property development in the Middle East, with landmarks such as The Palm islands and The World developments.
He said: “Our rapid expansion into Africa has necessitated a fully- fledged office.
“Our two new office blocks are in The V&A Waterfrontm including the fully restored Windermere House building. A third office will be built soon.”
Roscoe said there will be significant development at The V&A Waterfront including a luxury hotel to be named the One & Only.
“We also purchased the Pearl Valley Golf Estate in the [Cape Town] winelands.
“In Africa, we have partnered Kempinski Hotels in the development of a five-star luxury hotel and casino with restaurant, nightclub and conference facilities in Djibouti on Gulf of Aden at the southern entrance to the Red Sea. It borders on Ethiopia, Eritrea, and Somalia.
Roscoe said: “We are building 50 luxury villas, and negotiating purchases of property and assets in Rwanda, the Comores, Zanzibar and other African countries.”
The company, owned by the Dubai government, aims to invest in and actively develop eco-tourism in Africa.
Negotiations are also under way for the purchase of world- renowned game reserves in Africa.
Dubai World chairman Sultan Ahmed Bin Sulayem, on a recent visit to the new offices, said the company’s expansion into Africa was the realisation of a vision to significantly improve the growth and development of the African continent.
Bin Sulayem said the company was in partnership with key stakeholders who shared the dream of building a sustainable economy for the region, and the creation of thousands of jobs for Africans while adding value to the company’s investment portfolio.
“Our offices in Cape Town are symbolic of our long term commitment to the region,” he said.