News

MALTA, MIZZI ANNOUNCES PIPELINE WITH ITALY

Test drilling and geological seabed are being held in Delimara to define the route of the pipeline linking Malta with Italy.

According to recent statements by the Maltese Minister without portfolio, Konrad Mizzi, the operation is part of a comprehensive study concerning the route of the pipeline in the seabed, the basic design and documentation necessary for requesting permission for its construction.

The study lasting one year is conducted by a private company and is co-financed by the European Community.

The pipeline will allow the island was no longer dependent on oil for electricity generation.

Float unit of temporary storage of gas will be used till it has completed the pipeline. This will mean that once completed the construction of the pipeline, the unit will be removed and the emissions will be considerably reduced.

It important to note that the pipeline has nothing to do with the interconnector, which transports electricity directly. The pipeline will supply gas to the Delimara power plant that will generate electricity later.

The Maltese government is committed to the realization of the project in the shortest possible time to ensure the Maltese households and companies providing energy.

The project is part of a PIC list presented by the European Commission on October 14, 2013.

A Project of Interest Municipality (PIC) is defined as a project can offer significant improvements to at least two Member States, contributing to market integration and the enhancement of competition and security of supply and the reduction of CO2 emissions.

The pipeline will link Gela with Malta with a unit of FSRU regasification and will have a length of 150 km with a daily capacity of 1.1 million cubic meters/g.

(ITALPRESS/MNA).


Source: medNews

MOROCCO, INTENSIFIED INVESTMENT IN RAIL NETWORK

According to data from the Moroccan Ministry of Infrastructure and Transport, the investment plan for the rail transport sector in the period 2012-2016 is more than doubled compared with the period 2008-2011, from 13.2 (1, € 2 billion) to 30.8 billion dirhams (2.9 billion euro). The five-year period 2012-2016 has been dedicated to the development of the rail network, through the work of preparation of the TGV (high speed train between Tangier and Casablanca, which operations is expected in 2018) and logistics platforms. As for freight transport, in the period 2012 – 2016, the volume of goods transported (except for phosphates) has reached the figure of 53.9 million tons. Moreover, according to data provided by the Ministry, the number of travelers has increased by 18% during the period 2011-2015, from 33.9 million to 40 million travelers. This increase was coupled with a significant improvement of services, as the quality of their satisfaction rate increased from 62% in 2011 to 76% in 2015. This positive performance is due to the construction and refurbishment of as many as 25 stations, 8 of which have been realized or restarted, 8 are under construction, while 9 are in the completion phase. The growth of rail traffic in Morocco is also favored by other factors such as the strengthening of the service (from 72 902 trains per year in 2011, we moved to 78 386 trains per year in 2015), increasing the capacity of the sections Casablanca – Kenitra and line Casablanca – Marrakech. As for traffic safety and travelers, the Ministry of Transport has disclosed an action plan of 140 million euro which will lead to improved and increased safety of railway lines, despite the increase in the volume of activity. This action plan has resulted in the elimination of 164 level crossings, upgrading of signaling on 193 level crossings, the construction of 892 km of anti-intrusion systems, 14 walkways and underground passages 5 inside the stations, as well the launch of awareness campaigns targeted at passengers. These initiatives have also made it possible to reduce accidents along the rails (17 deaths in 2015 against 43 in 2011) and at level crossings (1 death in 2015 against 17 in 2011).

(ITALPRESS/MNA).


Source: medNews

MONTENEGRO, 1.5 BILLION EXPECTED BY REVENUES FROM TOURISM 2026

The minister of sustainable development and tourism of Montenegro, Branimir Gvozenovic, said that they expect annual revenues exceeding 1.5 billion EUR from tourism by 2026. He reminded that the world trends in tourism represent great potential for Montenegro since it is expected that in the next 15 years the number of tourists increases by 67%. In 2015 revenues from tourism amounted to € 794 million while this year they expect revenues of over 850 million euro. Montenegro in the coming period will support the construction of high category and the increase of 76 hotel accommodation of around 8,000 units.

(ITALPRESS/MNA).


Source: medNews

LEBANON, CREDIT LINE 80 MLN EUROS FOR THE RENEWABLE ENERGY

The Central Bank of Lebanon (BDL) will launch early next year of a 80 million euros credit line (about 89 million dollars) for energy efficiency projects and renewable energy. The credit facility is funded by the European Investment Bank (EIB) and FROM ‘Agence Française de Développement (AFD).

The European Union (EU) will provide technical assistance through a team of international experts and national authorities to support the BDL and the private banks in the definition of the financing plan. The loans will be given in US dollars, even if the received funds are in euro. The credit line will be operational by January 2017.

(ITALPRESS/MNA).


Source: medNews

MOROCCO THIRD CLOTHING SUPPLIER FOR THE EUROPEAN UNION

According to data provided by the Office des Changes, at the end of August 2016 the garment industry in Morocco has been an increase in exports by 8% compared to the first eight months of last year. Moroccan exports of clothing during this period amounted to 15 billion dirhams (nearly 1.4 billion EUR), while the knitwear amounted to 426 million euro, achieving a slight improvement. L ‘Moroccan association of producers (Association Marocaine des Industries du Textile et de l’Habillement) explains this positive trend thanks to the growing progress of the Moroccan garment industry in the markets of subcontracting in the European Union. In a year, Morocco has gone from 7th to 3rd place in the ranking of EU suppliers, preceded by Vietnam and Cambodia, whose respective sales on the European markets were up by 6.8% and 6% .This development is due to a favorable sectoral economic period characterized by the return of the Moroccan textile industry in the sourcing strategies of European buyers. This is thanks to a strengthening of supply and a political stability that favors the country compared to its direct competitors in the Mediterranean basin (Turkey, Tunisia and Egypt). Moreover, the upward trend in costs in Asian countries constitutes an advantage which Morocco can ‘use in order to consolidate its position. For the benefit of the Moroccan clothing production, it is finally considered the industrial trend ‘fast fashion’ which focuses on the geographic proximity and prompt deliveries.

(ITALPRESS/MNA).


Source: medNews

TURKEY, NEW MODEL OF AGRICULTURE

The Minister of Agriculture and Livestock, Faruk Celik said in a TV interview that Turkey will adopt a “new model of agriculture” to elevate the production value of the sector of about 11 billion Turkish liras (3.7 billion dollars). The Ministry will announce shortly how the incentive offered by the new production model, based on the criterion of productive basins.

Celik reported that 41 reservoirs have been identified, and only those who work in the pre-selected products benefit from government support. The Minister added that the ultimate goal is to increase the average size of the fields, in order to increase productivity and profitability.

In predicting the increase of 11 million Turkish lira of annual returns, Celik noted as agricultural production in 2015 exceeded 117 million tons, an increase of 2% over the previous year.

(ITALPRESS/MNA).


Source: medNews

TUNISIA, NEW LAW ON INVESTMENT APPROVED

A new law on investment was approved. The new Code provides more services to investors in terms of market access and the total or partial liberalization of about half of the country’s economic activities. In particular, it is planned to abolish the authorization by the Investment Board for all those businesses that have a foreign stake of less than 50% (about 49 activities). The bill also addresses the issue on the use of foreign executives. In particular, businesses may take up to 30% of foreign managers. As for the development of investment, the new code aims to be more liberal in making it possible for foreigners to own agricultural land and property. To encourage investment, the legislation provides for the creation of a single income tax, equal to 15%, with an exception for protected areas, telecommunications, financial sector and hydrocarbons in which would apply a tax of 35%.

(ITALPRESS/MNA).


Source: medNews

ALBANIA: THE MILK INDUSTRY, THE 65% OF FARMS OPERATE IN BLACK

65% of farms in Albania operate in black: it reveals a study carried out by the Council for Albanian investment. Across the country there are 450 farms dedicated to the production of milk and dairy products, of which only 150 are working in full compliance with the legislation. According to the study, published by Monitor, in addition to the problem of tax evasion, this situation is also considered critical with regard to quality control and product safety. The entire milk production in Albania amounts to about 1.1 tonne per year.

(ITALPRESS/MNA).


Source: medNews

TUNISIA, IN NOVEMBER INTERNATIONAL CONFERENCE FOR REVIVAL

Entrepreneurs, managers of international financial world as well as 72 heads of state and finance ministers from several countries are expected to Tunis 29 and 30 November next on the occasion of Tunisia 2020, the International Conference for the support of economic development, social and sustainable Tunisia, during which the Five-Year Plan of Tunisian Development 2016-2020 will be presented.

“We have many competitive advantages in Tunisia and this will be an opportunity to explain the economic actors”, Mourad Fradi, Commissioner-General to the Conference says. The event is organized by the Ministry of Development, Investment and International Cooperation, in collaboration with the Tunisian foreign ministry.

The conference program will focus on the five points of the Tunisian development plan (governance and administration reform; infrastructure and major projects, human development and social inclusion, regional development, sustainable development and green economy) and will address specific themes 9 in 4 sessions plenary, particularly digital economy, tourism, education, aviation industry, mechanical and automotive, healthcare and pharmaceutical industry, textile, electricity and renewable energy, agriculture, food processing and water management.

(ITALPRESS/MNA).


Source: medNews

MOROCCO, 12 MILLION DOLLARS FOR THE NEW EATON FACTORY

The US group Eaton, specializing in the production of energy management systems, has opened in recent days the new production site in the free zone Midparc in Casablanca. It is a new factory of some 13,500 square meters, which replaces the previous one, which was located in the town of Berrechid. Following this expansion, which involved an investment of 12 million dollars, the Eaton workforce in Morocco will increase from 300 to 500 employees. Among the reasons that have encouraged this investment in Morocco, according Revathi Advaithi, director of operations for the electrical sector Eaton insist the skilled workforce, economic stability and the proximity to the ‘Key’ customers of the company, Europe and Africa. Frank Campbell (president of Eaton’s electrical sector for Europe, Middle East and Africa) has also expressed its intention to continue to take in the future local workforce, which now represents 99.9% of the workforce. Globally, the Eaton group recorded a turnover of 20.9 billion dollars in 2015; the company has about 96,000 employees worldwide and markets its products in more than 175 countries.

Eaton specializes in energy management systems, hydro-magnetic switches, accessories for inverters and power distribution units and directed their production of the aeronautical, defense, IT, telecommunications, housing construction. The American giant, present in Morocco for forty years, he first made his debut in the commercial sector and then spread in the industrial sector for about 17 years.

Moulay Hafid Elalamy, Moroccan Minister of Industry, announced that the new factory will cater to local subcontractors to the extent of 20% at the start of production. One of the US industry suppliers will be the Aluminium du Maroc group. During his speech, the Minister noted that the new factory in Casablanca Eaton will produce electronic components that until now were manufactured in China, but from now on will be fully realized in Morocco.

(ITALPRESS).


Source: medNews

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