This news comes quickly after the company’s recent acquisition of their Indian distributor, Torsa Machines, with the formation of CDE Asia Limited.
Commenting on the acquisition, Mr Convery said: "Our commitment to export has driven us to the growing market in the Middle East and South Asia. Torsa has a strong engineering tradition particularly in crushing and has excellent market contacts. We offered them the opportunity to replicate the successful business model we currently have in the UK and Europe. After months of negotiations the new company, CDE Asia Limited, was formed last week"
CDE views the 1 billion population market in India as one ideally suited to its products and hopes to develop its technology further in the Cookstown facility.
Machines designed and built in Cookstown are currently in India being commissioned to process waste minerals into a valuable commodity.
CDE will exhibit its range of equipment at the
Conmex Construction Industry Show in Sharjah, UAE later in
Ballyreagh Industrial Estate
Tel: +44 (0)28 8676 7900
Japanese Company To Build Power Plant in Qatar
MESAIEED, Qatar (November 24, 2006) — Marubeni expands reach with multibillion-dollar project in the Middle East.
Japanese trading house Marubeni Corp has won the right to build one of the world’s largest independent power producer projects here, valued at $2.3 billion.
Marubeni will take a 40 percent stake in the thermal power plant. Qatar Electricity and Water Co. will also have a 40 percent stake, with Qatar Petroleum holding the remaining 20 percent, Marubeni said.
The Japanese trading firm said it will complete construction of the plant by April 2010 and will manage it for 25 years.
Marubeni said the plant, which will produce 2,000 megawatts (2 million kilowatts), is one of the world’s biggest independent power producer (IPP) projects, a private generator that sells power to utility companies.
The Middle East is a major business area for Marubeni, besides Asia and overseas IPPs are one of the focuses of its business, according to the company.
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