Industries
and Markets:
Impact of Overheating
Construction Sector in Morocco
Morocco, a country that is witnessing a boom in construction,
is facing an acute shortage of materials and equipment.
Not only raw materials and equipment are in short supply,
but a great many projects have been frozen because no company
is willing to take the job.[read
here]
Corporate Affairs/Industy:
Egypt’s Orascom
Ups its Investments in Algeria with New Ammonia and Cement
Plants
The
Egyptian Orascom Construction Industries announced on March
20, 2007 that the incorporation of Sorfert Algérie
(Sorfert) was completed by OCI and Algerian state-owned oil
and gas company Sonatrach. This joint venture was set up to
construct a greenfield ammonia/urea fertilizer plant with
an annual capacity of 1 million tons in addition to an ammonia
plant with an annual capacity of 0.7 million tons. OCI has
51% in the new venture while Sonatrach owns the remaining
49%. OCI will invest an additional US$ 5 million to expand
the cement bags production capacity ahead of the commissioning
of its greenfield operation in northwest Algeria. [read
here]
ALGERIA'S
FIRST FINANCIAL SCANDAL:
Industries
and Markets:
Casablanca’s
Troubled Billboard Scene
The
use of billboards in public settings in Casablanca, Morocco
has grown in such an anarchic way, that many are calling for
a scale back and tougher regulation. Indeed in Casablanca's
urban settings, the visual impact of billboards has had a
negative effect on the way the city looks. This is because
the city is home of some of the country's most affluent Moroccans,
combined with a sizeable middle-class and professional base.
Acknowledging the value of brand recognition and image awareness
through marketing, companies have been competing hard for
the right to post billboards in intersections and rotaries.
Similarly, they have been efficient in lobbying local municipalities
for the right to advertise, ultimately creating a less desirable
landscape. [read
here]
Industries
and Markets:
New Chinese
Telecom Equipment for Algerian and Moroccan Buyers
The
Chinese telecom equipment maker, Huawei Technologies has landed
two important contracts in North Africa, further enhancing
its position there. These two latest contracts are form Maroc
Telecom in Morocco and the Algerian rail and train operator
SNTF. With Maroc Telecom, the largest integrated telecom operator
in Morocco, Huawei will supply and build a nationwide UMTS/HSPA
network. With the SNTF, it will provide a GSM-R communication
solution for the 220 kilometer-long Tabia-Mecheria railway
line, an important passenger transport route in Algeria. [read
here]
Energy
and Mining:
Statoil Tests Appraisal
Well in the Hassi Mouina, Algeria, Prepares to Shoot Seismic
in Libya
Norwegian
oil company Statoil has completed and tested its first onshore
exploration and appraisal well in the Hassi Mouina license
in the Sahara Desert, Algeria. The company says it is now
underway with the drilling of license well number two. In
Libya, the company is preparing to shoot seismic. During the
year, around 2,000 kilometers of 2D seismic will be gathered
from the Kufra license in the south-east of the country. This
is the first time Statoil is shooting seismic in the country.
[read
here]
Energy and Mining/Corporate Affairs:
Maghreb
Minerals Scales Back Algerian Operation, Ups its Tunisia Business
The
UK-based company Maghreb Minerals plc, a junior exploration
company listed on AIM in London, with exclusive focus on targeting
zinc-lead and precious metal deposits in Tunisia and Algeria,
has decide to scale back its Algerian operations and shift
more resources into Tunisia. Announcing its decision, Maghreb
Minerals said it has succeeded in consolidating a strong exploration
permit portfolio position in Tunisia where it has continued
to evaluate its lead, zinc, barite and fluorite prospects.
The Group's focus in the immediate future is on those Tunisian
permits and properties most likely to be able to be converted
into producing assets in the near term. In Algeria, in light
of current circumstances, the company decided to reduce its
activities and monitor potential opportunities that may arise
to add to its core portfolio. [read
here]
