ID :
14425
Wed, 07/30/2008 - 20:09
Auther :
Shortlink :
https://oananews.org//node/14425
The shortlink copeid
Dana Gas and Crescent Petroleum to establish Kurdistan Gas City
Sharjah, July 30, 2008 (WAM) - Gas Cities LLC, a joint venture between Dana Gas PJSC and its partner Crescent Petroleum, announced yesterday that the 461 million square foot site for the Kurdistan Gas City has been officially assigned by the Kurdistan Regional Government(KRG), for development by Gas Cities LLC, following extensive surveys that have been completed on potential sites within the Kurdistan Region of Iraq.
The Kurdistan Gas City is a major new sustainable and synergistic gas-utilization industrial complex to be built over an area of 461 million square feet, designed to promote private sector investment in a variety of gas-related industries tofurther benefit the country's citizens through mass training, job creation in the many tens of thousands, and the promotion of general economic activity.
The Kurdistan Gas City will include industrial, residential and commercial components in an integrated city, with an expected initial investment in the basic infrastructure estimated at US$3 billion, preparing the land for possession by prospective residents.
This initial investment will in turn facilitate further Foreign DirectInvestment exceeding US$40 billion (AED 147 billion) during the operations phase. The Gas City is being structured to hold over 20 varieties of world scale petrochemical and heavy manufacturing plants, and hundreds of Small and Medium-sized Enterprises (SMEs), served by state-of-the art civic facilities.
Hamid Jafar, Executive Chairman of Dana Gas, explained the ramifications of this achievement by saying, "The Kurdistan Gas City is an enormous step forward in Dana Gas' strategy across the Middle East, North Africa and South Asia (MENASA) Region.
The Kurdistan Gas City is the first in a series of "Gas Cities" that are being developed across the Middle East, North Africa and South Asia (MENASA) region by Gas Cities LLC, a joint venture company that has been established by and between Dana Gas and Crescent Petroleum. The Kurdistan Gas City is projected to generate direct and indirect job opportunities for nearly 200,000 Iraqi citizens in infrastructure, industrial projects, support services and other business activities.
Badr Jafar, Chairman of Gas Cities LLC, and Executive Director at Crescent Petroleum, commented on the occasion by saying, "The Kurdistan Gas City is the first in a series of similar gas cities planned for the entire region. Gas Cities LLC, as a new venture dedicated to the introduction and development of this unique concept, are formidable public-private sector partnerships that will generate massive regional and foreign direct investment and unrivalled local opportunities in the communities into which we plan to introduce the Gas City concept."
The Kurdistan Gas City is a major new sustainable and synergistic gas-utilization industrial complex to be built over an area of 461 million square feet, designed to promote private sector investment in a variety of gas-related industries tofurther benefit the country's citizens through mass training, job creation in the many tens of thousands, and the promotion of general economic activity.
The Kurdistan Gas City will include industrial, residential and commercial components in an integrated city, with an expected initial investment in the basic infrastructure estimated at US$3 billion, preparing the land for possession by prospective residents.
This initial investment will in turn facilitate further Foreign DirectInvestment exceeding US$40 billion (AED 147 billion) during the operations phase. The Gas City is being structured to hold over 20 varieties of world scale petrochemical and heavy manufacturing plants, and hundreds of Small and Medium-sized Enterprises (SMEs), served by state-of-the art civic facilities.
Hamid Jafar, Executive Chairman of Dana Gas, explained the ramifications of this achievement by saying, "The Kurdistan Gas City is an enormous step forward in Dana Gas' strategy across the Middle East, North Africa and South Asia (MENASA) Region.
The Kurdistan Gas City is the first in a series of "Gas Cities" that are being developed across the Middle East, North Africa and South Asia (MENASA) region by Gas Cities LLC, a joint venture company that has been established by and between Dana Gas and Crescent Petroleum. The Kurdistan Gas City is projected to generate direct and indirect job opportunities for nearly 200,000 Iraqi citizens in infrastructure, industrial projects, support services and other business activities.
Badr Jafar, Chairman of Gas Cities LLC, and Executive Director at Crescent Petroleum, commented on the occasion by saying, "The Kurdistan Gas City is the first in a series of similar gas cities planned for the entire region. Gas Cities LLC, as a new venture dedicated to the introduction and development of this unique concept, are formidable public-private sector partnerships that will generate massive regional and foreign direct investment and unrivalled local opportunities in the communities into which we plan to introduce the Gas City concept."
