Industry

Israel-Egypt joint solar venture mulled

According to sources, Israel and Egypt have agreed to consider a possible joint solar energy project. Israel will provide the technology, and Egypt the land. The electricity will go to both countries, and the surplus sold to other countries. Israeli Minister, Ben-Eliezer said that Egyptian President Hosni Mubarak expressed interest in the idea, and said that he would consider it. Ben-Eliezer added, "I see how, in ten years, the Negev and the Arava will become the Silicon Valley of alternative energy. I commit to do everything to promote the subject. We have huge advantages, and I want to see in Israel what Solel Solar Systems (now Siemens Concentrated Solar Power Ltd.) and Ormat Industries Ltd. (TASE: ORMT) are doing in California. The establishment of a renewable energy development center in the south will attract a lot of scientists and investors to Israel." At a session entitled, "Sun Power, Soft Power: Linking Energy Independence, Regional Development and Accelerated Business with Emerging Markets", Salah Azzam of Jordan's National Energy Research Center revealed that Jordan, Israel, and the US have set up a joint venture to develop biodiesel based on German technology. Azzam said that this was currently the only joint R&D project between Israel and Jordan, and that it was a good basis for peace and important potential for the two countries. He also disclosed a range of Jordanian renewable energy activities, including thermosolar energy, wind energy, biodiesel, and biogas.

Egypt's Citadel food unit eyes Ethiopian firm

Egyptian private equity firm Citadel Capital's food unit is in advanced talks to buy an Ethiopian food firm in its bid to boost self-sufficiency in raw materials, the unit's chief executive told Reuters. Gozour's Mohamed El Rashidi did not name the Ethiopian company, but said talks could be concluded in four months. "It is a perfect fit for us," he said, referring to the Ethiopian market. "There are 80.7 million people in Ethiopia, with a heavy consuming base and 60 per cent of the country's GDP (gross domestic product) is from food." The move would follow the acquisition in November of a majority stake in a Sudanese biscuit and sweet maker by Gozour, the consumer foods business of Citadel, which manages US$8.3 billion in investments.

Qatar Aluminium awards building deal

Qatar Aluminium Extrusion Company has awarded a construction contract to Al Alia Trading for its QAR 72 million aluminum manufacturing plant. The deal involves construction of the manufacturing facility and other associated infrastructure for QAEC in new industrial area The contract has been signed by Mr. Abdul Rehman al Ansari chairman of QAEC and Mr. Ayman Khaled GM of Al Alia Trading. The project, which is expected to be completed by 10 months from date of inception, has outlined a capital expenditure of QAR 72 million.

Egypt aims to start cement bid process by mid-2010

Egypt is targeting to start an international bidding process to grant cement licenses by the middle of this year, the head of the country's Industrial Development Authority (IDA) said. "We're presenting the case to the High (Supreme) Council of Energy to get their blessing," said Amr Assal, chairman of IDA in an interview. "Afterwards we will announce the international bidding process," he told Reuters. Asked whether the bidding would start by the middle of the year, Assal said: "This is our target, June-July." The country will be offering eight licenses with 1.5 million tons of capacity, he said, adding that so far 12 companies had formally expressed their interest in the licenses. Of these, seven were Egyptian and among the rest there were Chinese, Turkish and Italian companies.

SolarWorld concludes joint venture in Emirate of Qatar

SolarWorld AG acquires a stake of 29 per cent in the newly founded Joint Venture Qatar Solar Technologies (QST) headquartered in the Emirate of Qatar. The Joint Venture will establish the first production facility for poly-silicon on the Arabian Peninsula. Partners are the Qatar Foundation (70 per cent) and the Qatar Development Bank (1 per cent). QST will invest a total of more than 500 million US dollars in the construction of the new silicon production facility with a planned annual capacity of around 3,600 tons. The highly advanced production plant will produce poly-silicon with a purity of 99.99 per cent. Start of production is planned for the third quarter of 2012. Full capacity will be reached in 2013. At the Ras Laffan Industrial City location in the North East of Qatar the Joint Venture has access to an excellent chemicals infrastructure with favorable energy prices. Here a forward integration along the entire solar value chain all the way to the finished solar power module could be implemented. A change of thinking is taking place on the Arabian Peninsula from which a larger and larger market for solar power systems is developing.