First Independent Mena Newspaper
Sonatrach, a state owned energy group, has renewed its efforts towards increasing its production levels in oil and gas with the approval of a $100billion investment plan in the next five years. The production of shale gas before 2020 is also part of their plans. The approval of the plan came ahead of the opening […]
Morocco’s aeronautics industry sector which has constantly progressed since it was launched in the late nineties of the last century has attracted this week a € 45 million new investment. The investment will be injected by Aerolia, an Airbus Group subsidiary, and Alcoa, a global leader in lightweight metals technology, which has reoriented its activity […]
Bilateral energy talks between Algeria and Tanzania have reached advanced stages. The two governments are involved in discussions regarding three different energy projects with reference to their electricity, natural gas and petroleum potentials. Tanzania’s Minster of energy and Minerals, Prof. Sospeter Muhongo, met with his Algerian homologue, Energy Minister Youcef Yousfi, in Algiers to further […]
Tunisian state owned oil and gas exploration and production company, Entreprise Tunisienne d’Activités Pétrolières (ETAP), will be benefitting from a $75 million corporate loan from the African Development Bank. The loan was approved by the Bank’s board of directors last month. The fund will be directed to the funding of the Nawara project as part […]
Egypt’s Minister of Investment Ashraf Salman has shown his determination to revive the economy if there is political stability. He has fixed the bars for his term in office as he set his sights on increasing the Foreign Direct Investment (FDI) by almost 100%. In 2008, Egypt’s FDI reached $13,2billion but shrunk drastically after the […]
An official of the Japan International Cooperation Agency (JICA) has revealed that Japan and Tunisia have reached an agreement for the financing of development projects at the tune of 72billion Japanese yen. The amount is divided among 11 medium-sized loans. The loan condition is considered to be more suitable for the concerned projects. The Central […]
Morocco’s leading telecom operator, Maroc Telecom, will acquire six African subsidiaries of its new majority shareholder UAE Etisalat for $ 650 million. By acquiring Itisalat branches in Benin, Côte d’Ivoire, Gabon, Niger, Central African Republic and Togo, the Moroccan operator will expand its activities in the continent and become a genuine telecom “hub” in French-speaking […]
Partners in the Tamar gas field offshore Israel have concluded a letter of intent with Union Fenosa Gas SA (UFG) to supply it with gas for 15 years and a total gross sales quantity of up to 2.5 trillion cubic feet (Tcf) of natural gas, or approximately 440 million cubic feet per day over the […]
Maroc Telecom, the leading telecommunications operator in Morocco, held its General Assembly on Tuesday (April 22) to officially celebrate the entry of the new majority shareholder, the UAE Etisalat, which acquired 53% of the company’s capital, previously held by Vivendi. Etisalat reached the € 4.2 billion deal with Vivendi in November last year after months-long […]
L’Office Chérifien des Phosphates (OCP,) the Moroccan State-owned phosphates company, said last week it raised $ 1.55 billion in the first international bond issue having a solid emitter notation organized by an African company outside South Africa. OCP thus sold 10-year bonds to yield 5.625 percent for $1.25 billion and $300 million worth bonds that […]