Franchise registrations in Saudi Arabia surge 866% over 3 years    Lulu Saudi Arabia celebrates its 15th anniversary with the grand launch of 'Super Fest 2024'    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Culture minister tours Saudi pavilion at Expo 2025 Osaka    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Saud Abdulhamid makes history as first Saudi player in Serie A    Saudi Cabinet to hold special budget session on Tuesday    King Salman orders extension of Citizen's Account Program and additional support for a full year    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Several dead as Storm Bert wreaks havoc across Britain    Irish PM apologizes for walking away from care worker    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Hezbollah fires rocket barrages into Israel after deadly Beirut strikes    Ukraine losing ground in Russia's Kursk region, says military source    Do cigarettes belong in a museum?    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



GFH, Kazakhstan, PFC Energy launch 'Caspian Energy Hub'
Published in The Saudi Gazette on 15 - 04 - 2008

Gulf Finance House (GFH), in collaboration with the government of Kazakhstan and PFC Energy International, has announced Thursday plans for the latest project in its “Energy City” series: The Caspian Energy Hub (CEH), Kazakhstan. With an estimated total investment value of $10 billion, this project marks the entry of GFH and its clients into Kazakhstan, and represents one of the largest foreign investments into the country.
The concept was presented to Nursultan Nazarbayev, president of Kazakhstan at the Presidential Palace by the Chairman of Gulf Finance House, Esam Janahi, and the President and CEO of PFC Energy International, Vahan Zanoyan.
Following the presentation, a signing ceremony was held at the Rixos President Hotel, Astana, during which a memorandum of understanding (MoU) was signed. In addition to Gulf Finance House and PFC Energy International, signatory parties included Gani Uzbekov, deputy chairman of the board of the Sustainable Development Fund, “Kazyna”, Ulf Wokurka, deputy chairman of the management board of Kazakhstan Holding for Management of State Assets, “Samruk”, and representatives of local investment companies. Located in Aktau on the shore of Kazakhstan's Caspian Sea, the proposed Caspian Energy Center, Kazakhstan, will represent the latest in a series of energy focused business clusters that GFH has planned across the Middle East and Asia.
Capitalizing on prodigious natural resources and strong economy, the project aims to contribute to the overall economic and human capital development of Kazakhstan by creating a services center that caters to every commercial, technical and human resource need of the oil and gas industry in the Caspian region.
In addition, the Caspian Energy Center also aims to become a major global technical training center for the oil & gas industry. The center is expected to play a significant role in supporting the government's plans to double oil production and triple natural gas output by 2015. To build on these objectives, the center will develop a full service economic and business center catering to every commercial, technical and human resource need of the oil and gas industry operating in Kazakhstan, and ultimately, in the entire Caspian region with a view that with the Caspian Energy Center, Kazakhstan will have an “HR and skills nerve center” that facilitates Kazakhstan's human development, and positions it as a leader in human capital within the region.
The Caspian Energy Center is an important and integral part of the socio-economic development of Kazakhstan," Nazarbayev said. “We have the vision, the will, and the knowledge base to implement an industrial, service, research and educational center of excellence that will attract the biggest names in world energy,” he added.
The CEO of JSC Kazakhstan Holding for Management of State Assets “Samruk”, Kanat Bozumbayev, said on behalf of the government, that alongside their faith in the great new initiative, “there are rich growth prospects in the Caspian region and Kazakhstan has a unique opportunity to deliver an unrivalled centre for the hydrocarbons industry."
GFH Chairman Esam Janahi said "we applaud the vision of HE President Nazarbayev and the Kazakh Government and look forward to working with them to inject a new impetus and sustained long term growth into the economy.”
Vahan Zanoyan, PFC Energy International chairman & CEO, said the creation of the Caspian Energy Center is truly commendable.
“Kazakhstan is uniquely positioned to play this role in the entire Caspian region,” he added.
The Energy City concept was conceptualized by GFH and PFC Energy, an international energy consulting firm. Being the latest “Energy City” project, following Qatar, India and the proposed Energy City in Libya, this venture expects to attract the biggest names in the world energy to Kazakhstan, and deliver high returns on equity for GFH investors.
As planned, the center will comprise a specialized technical college, a science and technology park, a geophysical data laboratory, advanced technical training facilities, an information technology development center, an environmental research center and a renewable energy center. __


Clic here to read the story from its source.