Adhi Karya eyeing more construction projects
in Middle East
"We are indeed eyeing more projects in the Middle East because the opportunity is big," its president director, Saiful Imam, told newsmen.
He said the company still had six months to strive to win projects in the region but he declined to name the projects. Later if we win we would make them known," he said.
He said projects in the Middle East contributed quite much to the company`s profit in 2006. When the target of profit is Rp90 billion the projects in the Middle East contribute Rp10 billion, he said describing income contribution from projects in the Middle East.
PT Adhi Karya this year won a railway project in India worth Rp1 trillion for a three-year period.
He said the project in the Middle East would be worth less than Rp1 trillion but in 2007 the company would possibly venture on projects worth more than Rp1 trillion.
One of the projects offered to PT Adhi Karya is apartment development, high rise commercial building and hospital projects.
He said funding for the projects had been made available and therefore if the company won the projects it would bring funds home.
Although the company is eyeing overseas projects domestic projects mostly from the state (around 60 percent) are still expected to contribute Rp3.1 trillion out of the company`s income target of Rp4.1 trillion.
To strengthen its capital he said the company had proposed conducting a right issue. However the government has not yet given an approval to it. Based on the regulation the government`s equity in the company should remain at 51 percent, he said.
"If we conduct a right issue worth up to Rp600 billion the company may potentially get a loan of up to Rp1.2 trillion," he said.(*)
Covering an area of 7.16 million square metres, DWC Residential City will be developed to house 250,000.
"It will offer prime, low-cost, free-hold real estate plots to developers and investors when Phase 1 commences in October this year," a DWC statement said.
The development will see land earmarked for construction of extensive low-cost housing "selling cheaper than designated commercial space," it said.
While the focus up to now has been on Dubai World Central International Airport, to be the world's largest, and Dubai Logistics City, which will be at the core of creating a logistics hub for the wider region, Residential City will roll out its unique offering later this year.
"In Residential City, we will be offering a minimum of 25 hectares in Phase 1 for developers and investors to build on and have 100 per cent ownership of their own land," said Khalid Bin Harib, real estate director of DWC.
"This is a strategic step for the Dubai real estate industry and will help meet the pent-up demand for low-cost housing in the emirate, as well as providing homes for the DWC workforce," he said.
The low-cost housing amounts to 14 per cent of Residential City's total area, or 245,000 square metres of land area.
"Low-cost projects will be limited to seven storeys and we project this will equate to a built-up area of 1,023,000 square metres, or low-cost accommodation for 36,000 people," Bin Harib said.
Commercial plots will have a height restriction of four storeys and DWC anticipates investors to establish civic amenities such as shopping complexes, schools, hospitals and recreational facilities.
Over 250 freehold land plots will be sold on the open market when Phase 1 launches with the opportunity available for investors to purchase zones that must consist of a minimum of 40 plots.
"We have established a credible timetable to ensure infrastructure construction will be completed on sold land before the owner is allowed to commence specific building construction. We want to avoid making mistakes others have made by rushing the infrastructure so developers can move in quicker," he said.
Courtesy: European Environmental Press (EEP)
Sun shines on the photovoltaic market
The first biogas plant linked directly to the natural gas network
has been inaugurated in Pliening, east of Munich. Biomethane is a
biogas of the same quality as natural gas, produced from sustainable
raw materials. Until now, biogas was used only as a local source of
power for alternative electricity production.
Biogas produced from biomass is transformed into gas of equivalent quality to natural gas by a modified pressure method. This biomethane, released directly into the gas mains of Munich's local authority, EON Bayern, in Poing, and Pucheim, will be used to supply two power stations which convert the biomethane into electricity for the national grid, and the heat produced in the process will be used all the year round for a local heating network.
The plants needed for the first year of production in 2007 are already being grown and will be stored in the new silo at the biomethane plant. About 30,000 tones of biomass are necessary. The energy-producing plants are grown by local farmers on a site of 500 to 550 hectares near Pliening. The total investment is 9.8 million euros.
The production of methane is due to start in December 2006.
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