Green Valley Real Estate has announced plans for a AED500M ($136M) residential project in Marrakech, Morocco.The 410,000sq m development, called ‘City of Green Valley-Marrakech’, is located 11km from Marrakech city centre and will feature 350 residential villas with 100,000sq m of green spaces.It will also include restaurants, cafes, a supermarket, a spa area, health clubs, swimming pools, bars and sports courts.Green Valley Real Estate owner and general manager, Ali Saeed Al Salami said: "We are privileged to announce the project in Marrakech. "Aside of being a state-of-the-art and cutting edge project, it also offers excellent growth potential for investors looking for substantial return on their investment in Marrakech."This is a luxury project and offers amazing investment opportunities in the city, which is otherwise considered a perfect tourist destination."The project follows the completion of developments in Turkey, UAE and other parts of the Middle East.<iframe src="https://timetric.com/c/TT4M9NW/chart/" style="width:500px;height:350px;border:0;" frameborder="0" scrolling="no"></iframe>
The European Bank for Reconstruction and Development (EBRD) has agreed to provide $250M for infrastructure projects in Egypt.EBRD has signed two memorandums of understanding (MoU) with Egypt’s Ministry of International Cooperation (MOIC) aimed at improving services in the transport and water sectors.Under the first MoU, EBRD will support the refurbishment of the Heliopolis tram link between the Ramsis and Almaza areas in Cairo. The entire cost of the project is estimated to be $500M.The second MoU is the bank’s first formal engagement in developing a water irrigation system — part of a programme developed by the Ministry of Water Resources and Irrigation (MWRI) of Egypt for the modernisation of the irrigation system to increase efficiency and quality of services.
US-based Arrow Capital and the University of Ilorin have finalised arrangements for the construction of a $2.3bn solar power plant at the university in Nigeria.
Orascom Construction has won two more contracts for the third phase of Cairo Metro Line III, to execute the civil and track work. Stretching across 18km of tunnelling and viaduct works, the third phase will include 15 elevated, grade and underground stations. The contracts, with a combined value of about €270M, will bring the company’s share of the third phase of Cairo Metro Line III to €375M.Orascom will deliver the civil package in a consortium with VINCI, Bouygues and Arab Contractors, and the track works package in a consortium with TSO — the railway subsidiary of NGE Group — and ETF, a subsidiary of Eurovia. Orascom Construction CEO Osama Bishai said: “We are pleased to expand our market share in the transportation sector and particularly the Cairo Metro program.“We remain focused on adding quality contracts to our backlog that will lead to healthy returns for our shareholders.”
A joint venture (JV) of Vinci Construction Grands Projets and Bouygues Construction subsidiary Bouygues Travaux Publics, along with Egyptian partners Orascom Construction and Arabco Contractors, has bagged the €1.1bn Phase 3 contract for Line 3 of the Cairo metro from the National Authority for Tunnels.
Japan-based IT services provider NEC Corporation has started construction on Angola Cables' South Atlantic Cable System (SACS).Expected to cost $160m, the project is due to become the first subsea fibre optic cable system to connect Africa and South America.Spanning more than 6,200 km across the South Atlantic, the cable will link Angola and Fortaleza, Brazil. From Fortaleza, SACS can be further connected to another cable system that stretches up to Miami, thus allowing Angola and the rest of Africa to connect directly with the US.The project will have the latest optical technologies to provide advanced subsea telecommunications system, along with a control plane based on Software-Defined Networking (SDN) technology to serve bandwidth-intensive applications. SACS will feature an initial design capacity of 40Tpbs (100Gbps x 100 wavelengths x 4 fibre pairs).Scheduled to be operational by mid-2018, SACS will be partially co-funded by the Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corporation with the cooperation of Nippon Export and Investment Insurance through the Banco de Desenvolvimento de Angola.Angola Cables CEO Antonio Nunes said: "SACS will be constructed using state-of-the-art technology, with 100G-coherent design for low latency, reliable delivery for even the most demanding bandwidth needs and direct data-centre-to-data-centre connectivity across the Atlantic."
Dutch port operator APM Terminals is set to develop a new trans-shipment terminal at the Tanger Med 2 port complex in the Moroccan city of Tangier.Estimated to cost €758m, APM Terminals MedPort Tangier will have annual capacity of 5m TEUs, increasing the port's total annual throughput capacity to over 9m TEUs. It will feature the latest technology and have up to 2,000m of quay length, along with the technology pioneered at the APM Terminals Maasvlakte II Rotterdam terminal. APM Terminals already operates the APM Terminals Tangier facility at Tanger Med 1 port. The 30-year concession of APM Terminals MedPort Tangier at Tanger Med 2 port will complement the current operations of the existing APM Terminals Tangier facility.The new terminal is scheduled to commence operations in 2019.APM Terminals CEO Kim Fejfer said: "Terminals MedPort Tangier will bring important innovation and future capacity into the West Med market on one of the world's most strategic seaways - the Strait of Gibraltar."
An Egyptian-Chinese alliance has broken ground on Egypt’s new administrative capital which is estimated to cost $45bn.
Transatlantic BDR (TBDR) and the Tema Metropolitan Assembly (TMA) backed by Ghana’s government have entered into a long-term structured partnership to develop a $6.5bn oceanfront leisure project in Tema.The project will include a 60,000-seat FIFA-certified football stadium along with commercial, retail and residential mixed-use accommodations targeting cross-border corporations and regional companies.It will also improve the ailing infrastructure of the region. Infrastructure investments will include new roadways, a light rail system expansion, renewable energy, and a 6G wireless communication network.TBDR CEO Uduak Udofia said: "This privately-funded partnership with the Ghana government marks an aggressive outlook taken by the part of officials to establish the country as an international destination, not just for leisure but for global qualified investors and entrepreneurs to participate in the region's fast-paced economic growth. TBDR is cultivating a diverse partner and investor base for optimal success.”
Kenya Railways has signed a contract with China Communications Construction Company (CCCC) for the construction of the Naivasha-Malaba Standard Gauge Railway line under the Kenya SGR Developments Project valued at KES549bn ($5.4bn).A protocol for the development of a standard gauge railway connecting the port of Mombasa to Kampala, Kigali and Juba was signed and ratified by Kenya, Uganda, Rwanda and South Sudan.Kenya is developing the Mombasa-Malaba section of the entire proposed network to Kigali through Uganda. Construction on the Mombasa to Nairobi section is at an advanced stage.The commercial contract will include four elements: the Naivasha-Kisumu section; Kisumu Malaba section; Kisumu Port Development; and modernisation and expansion of the Inland Container Depot (ICD) at Embakasi in Nairobi.The contract will allow the two companies to jointly conduct a feasibility study for the Nairobi to Malaba section of the project; facilitate transfer of technology; and create skills and capacity for construction, maintenance and operation of the railway upon completion.The Kenyan government has secured a $1.5bn loan from the Chinese government to support the development of Phase 2A between Nairobi and Naivasha. Construction on the project will begin by the end of 2016.
A consortium led by ACWA Power has completed work on the Bokpoort Concentrated Solar Power (CSP) project in South Africa’s Northern Cape Province.The project, valued at ZAR5bn ($310.3m), offers more than nine hours of thermal storage capacity. The plant will provide 220,000MWh power annually, which is sufficient to power over 200,000 South African households.ACWA Power managing director for the Southern Africa region Chris Ehlers said: “We are here to serve the nation and to contribute to its development.“Our commitment to the development of South African economy beyond reliably supplying renewable energy at a cost competitive tariff is demonstrated by the ZAR2bn worth of locally sourced components made in South Africa that has been used in the construction of this plant and the creation of 1,300 construction jobs.”The CSP project is the first in a series of investments by ACWA Power in South Africa. The company also plans to start construction on the 100MW Redstone CSP Project in Northern Cape. At the same time, it is waiting for the outcome of tender submissions for a 300MW coal-fired plant in Mpumalanga and a 150MW CSP plant at Northern Cape.
A consortium of Enel Green Power (EGP), Moroccan energy firm Nareva Holding (Nareva) and Siemens Wind Power has been pre-awarded a contract to design, construct, develop, finance, operate and maintain five wind projects in Morocco.The wind projects, awarded by Moroccan utility ONEE, will have a total capacity of 850MW. Construction on the projects is estimated to entail a total investment of about €1bn, which will be mostly financed through project finance facilities.Three wind farms, including the 150MW Midelt, 100MW Tanger, and 200MW Jbel Lahdid will be built in northern Morocco. The remaining two facilities, the 300MW Tiskrad and the 100MW Boujdour, will be constructed in southern Morocco.EGP and Nareva will set up and own five special purpose vehicles holding the projects. Siemens Wind Power will offer the wind turbines, with several components manufactured locally.The wind farms are expected to be completed and become operational between 2017 and 2020. Energy produced by the facilities will be sold to ONEE under 20-year power purchase deals. EGP CEO Francesco Venturini said: “We are leveraging on our knowledge and expertise, in collaboration with our partners, to contribute to Morocco’s ambitious energy plan that has renewables at its core. “The country is an example in North Africa of reliability and transparency in supporting the development of renewable technologies.”
A joint venture between Japan's Marubeni and South Korea's Posco Energy has won an $800m contract to expand the Morupule B power plant in Botswana.The project would expand the coal-fired plant’s capacity by an extra 300MW, from its existing capacity of 600MW. The power generated would be sold to the Botswana Power Corporation under a 30-year power purchase deal at a cost of 812.56 pula per megawatt hour.Construction work on the new plant is due to start in late 2016, with the first power generated added to the national grid by May 2020. The project is expected to increase national power generation capacity to over 1,000MW from the existing capacity of 600MW.
The company’s team includes experts in design, engineering, project management, management consultancy, planning, economy, business strategy, infrastructure finance advice, public private partnerships, cost consultancy, low carbon and environmentalism, technology, safety, health and education, and development policy.
Hyflux has received a letter of intent for a contract from the General Authority for the Suez Canal Economic Zone (SCZone) to build the Ain Sokhna Integrated Water and Power Project in Egypt.
Orascom Construction has secured three industrial and infrastructure projects worth $200m in Algeria and Egypt.
Uganda and Tanzania has agreed to build a $4bn crude oil pipeline across the two East African countries.
Micoperi, a provider of subsea solutions to the oil and gas industry, has been appointed as the EPC contractor for the Tema LNG facility at Tema, Ghana.
Sumitomo and IHI have bagged a turnkey engineering, procurement, and construction (EPC) contract to build an 110MW gas-fired combined-cycle power plant in Mozambique’s capital Maputo.
The company serves the infrastructure, resources and property industries with services including construction, mining, engineering, concessions, and operation and maintenance.