CHEMICALS

$2.4bn Algeria plant

Mitsubishi Heavy Industries and Daewoo Engineering & Construction have signed a deal to build a $2.4bn fertiliser plant in north western Algeria. Under the deal with

El-Djazairia El-Omania Lil Asmida, work on the plant will begin in October this year and construction is scheduled for completion by April 2012.

COAL,OIL & NATURAL GAS

Nigeria power project

Canadian company Western Goldfields has announced a 10,000 megawatts power project in Nigeria. Investment in the first phase of the project to convert coal to power will be about $15bn. The project will supply power to the regions of Anambra, Benue, Delta, Enugu and Kogi and will take about 22 months before it is operational.

Syrian joint venture

China and Syria have signed an agreement to build a joint venture refinery in eastern Syria, expanding their co-operation to include oil processing. China’s state-owned China National Petroleum Corporation will cover most of the costs of the $1.5bn refinery, which will have daily refining capacity of 100,000 barrels of crude oil. The project, due to be completed by 2011, will be built in the Abu Khashab region of the eastern oil hub of Deir Ezzor.

METALS

$300m Zimbabwe mine plan

UK firm Anglo Platinum will start mining activities this year after investing $300m at its Unki Mine in Shurugwi in the Zimbabwean Midlands, 60 kilometres from the town of Gweru. The first production is expected in 2008, with 120,000 tonnes per month expected by the fourth quarter of 2010. Unki Mine contains platinum and palladium and will be mined using the bord-and-pillar mining method.

REAL ESTATE

Tunisian complex

Al Maabar, a UAE-based venture of Aldar Properties and Sourouh Real Estate, plans to build the Bled El Ward (Town of Flowers) complex of homes, offices, trade centres, hotels, golf courses and a health city of over 5000 hectares in Tunisia. The $10bn tourism, office and housing complex north of Tunis will be one of Africa’s biggest real estate projects and will take 20 years to complete.

Yemen development

Qatari Diar Real Estate Investment Company and the Yemen General Investment Authority are planning a $500m mixed-use development in Yemen. The Al Rayyan Hills project will be located across a 440,000 square-metre site in southern Yemen and will include a five-star hotel connected to a large conference and banqueting facility, luxury residential villas and apartments, retail space and office buildings.

_{This investment news and data has been generated by fDi Markets, a crossborder investment tracking service that is part of the Financial Times Ltd's fDi Intelligence division www.fdiintelligence.com}

STATS:

Middle East & Africa FDI, 2007 (number of projects):
Source: fDi Intelligence

Middle East & Africa FDI, 2007 (investment) Source: fDi Intelligence

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