Canadian firm developing natural gas project in MENA
29-12-09 Canada Business Holdings, a Canadian company based in Ottawa, is developing a $ 3.5 bn natural gas project in the Middle East and North Africa (MENA). The partners would be disclosed soon, the company said.
The target market of the project is the EU and NAFTA regions.
The project's goal is to attract technology transfer to benefit from the reduced cost of operations in MENA. At the same time, it aims to reduce the carbon footprint in EU and eliminate the extra cost of natural gas infrastructure.
Chief Executive Officer of CBH, Moses Solemon, said: "GASVILLE is a win-win project for everyone. We have the support of one of the strongest banking institutions in the world. Our advising partners are also one of the global top four consulting firms in the public-private-partnership business."
The company hopes that when the project is complete, it will provide employment for 7,000 people in different industries.
It believes that the total capital invested in various revenue streams willexceed $ 9 bn in 2015.
Source: http://www.arabianbusiness.com
