Construction and Property Corner ::: 28 July 2023

[Bulls n Bears]

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Construction and Property  Corner ::: 28 July 2023 

 


 

 


 <https://www.hyundai.co.zw/> 

 


 

 


 

ü  70-year-old dream comes true for Nkayi as Ziminya Dam construction starts


ü  New fund to target distressed real estates

ü  Global market for British construction expertise could be worth £11.5bn,
says MaceGermany strengthens lightweight construction to save emissions and
raw materials

ü  NYC commercial construction starts shrink 30%

ü  College Lake pipeline construction moving along

ü  Former Navy pilot values ‘chain of command’ at his construction firm

ü  Work to begin soon on eight PPP development projects in Bahrain

ü  Retal enters Jeddah with 320-unit residential development

ü  Amwaj breaks ground on $420mln Iraqi mixed-use development

ü  Iraq completes two thirds of Grand Faw Port

 


 

 


 <https://www.willdale.co.zw/> 70-year-old dream comes true for Nkayi as
Ziminya Dam construction starts   

A TOTAL of 200 local workers have been recruited under the construction of
the Ziminya Dam in Nkayi District, Matabeleland North province, which is
expected to be a game-changer in terms of transforming livelihoods.

 

Situated about 20km west of the Nkayi Growth Point near Shangani River, the
dam was pegged in 1952 and construction effectively commenced after the
Second Republic availed funding for the project, which is now 22 percent
complete and progressing well.

 

 

Ziminya Dam construction in progress

 

With a capacity to hold 97 million cubic metres of water, the  dam and all
related projects surrounding it are set for completion  in 2025 and would go
a long way towards resolving water supply challenges for Nkayi Centre,
energize irrigation farming, and other related projects along the value
chain.

 

Regarded as the second biggest dam in Matabeleland North Province after Lake
Gwayi Shangani, Ziminya Dam is expected to have a mini hydro-electricity
plant that would provide power for the growing Nkayi Growth Point.

 

Government estimates indicate the dam will have a 36-metre-high wall at
completion and would attract a lot of economic activities including  the
establishment of a 1 225-hectare irrigation scheme in wards 18,19 and 28.
This is expected to promote massive food production and improve livelihoods
for the immediate community and beyond.

 

A Chronicle news crew conducted a tour of the dam site yesterday where
workers were busy on duty as others operated various construction equipment.

 

Through the project contractor, Fossil Contracting, the Zimbabwe National
Water Authority (Zinwa) has begun constructing houses for staff members in
preparation for moving in working at the dam once complete. A laboratory for
soil testing during the construction and a number of housing units are at
roof level.

 

In an interview, Zinwa director for irrigation and rural development, Mr
Waddilove Mandiziba, said work at the dam was progressing well.

 

“The dam is under construction as you can see and it will hold 97 million
cubic meters of water once complete. The dam will supply drinking water to
Nkayi Centre, which is expanding and surrounding communities, as well as
provide water for irrigation,” he said.

 

“A 1 225-irrigation scheme is being developed but that will be increased to
2 000 hectares. The dam will also have a commercial and community fisheries
component once complete. It will also have a small hydro-electricity plant,
which is currently being developed

 

“The works being done now is the foundation works, which is the most
critical part of any dam construction to make sure it is sound. This is an
earth dam and as you can see there is a lot of earth material that has been
piled around and works are going well.”

 

Mr Mandiziba said the dam wall is going to be 3,2km long and will occupy a
lot of earth material to be brought to the site.

“We have a specific type of soil to be used when constructing the core and
other aspects of the dam and that material we get it some 12km away from the
site,” he said.

 

 

Nkayi road rehabilitation

 

Nkayi Rural District Council chief executive officer, Mr Silibele Mpofu,
said the dam is going to be a game-changer not only for the Nkayi Centre but
for the whole of Nkayi District.

 

He noted that the water situation at Nkayi Centre was dire as Shangani
River, which supplies water through sand abstraction was now dry.

 

“Ziminya Dam is going to be a game-changer in as far as our water and
agricultural situation is concerned. We have a housing project that we are
implementing as council at the centre and once the dam is done we anticipate
a serious growth and getting a town status as our water supply will be
assured,” said Mr Mpofu.

 

“There are plans to have a number of irrigation schemes to be supplied by
the dam. These projects will change the face of agriculture sector.

 

“We really appreciate the Second Republic because they are changing the face
of Nkayi. It’s good that the President is coming to our district on Sunday
and we will definitely indicate our appreciation for the dam and devolution
funds, which have seen us building clinics, schools, and purchasing road
equipment, among other things,” he added.

 

 

 

Commenting, Nkayi South legislator Cde Stars Mathe who is seeking
re-election said the dam project was a trump card for the ruling party as
its success was credited to the Second Republic.

 

She said the construction of the dam brings pride and joy to the Nkayi
community.

“This dam failed to take off during successive governments since 1953 but in
his first term in office President Mnangagwa has done what others failed to
do,” she said.

 

“Construction work is going on and our local people are benefiting through
employment with 200 locals being employed at the moment.

 

“The number will go up as work continues. So, I know the President will talk
about that and I know he will also say something about Bulawayo-Nkayi Road
because I know he wants that road done,” said Cde Mathe.

 

“Already 15km is being graded and it should be tarred soon. The whole of
Nkayi is buzzing ahead of his visit and coming into my constituency it can
mean only one thing –re-election and a resounding win for the ruling party,”
she said.

President Mnangagwa is expected to visit Nkayi this weekend for a Zanu-PF
star rally.

--chronicle

 

 

 

 

New fund to target distressed real estates

A private limited company, Firmcare Construction, is in the market to raise
funding for investment in real estate assets showing early signs of distress
with the aim of re-designing the asset and develop residential or commercial
property in demand.

 

Firmcare Construction Private Limited is a development company registered in
2022 that seeks to “revolutionise the way housing projects are delivered to
the African Market”.

 

To do this, Firmcare Construction, seeks to raise US$2,5 million through
issuing of a bond with a face value of US$1 000, but at a discounted price
of US$833,33.

 

The bond has a two-year maturity period with a target YTM of 9,5 percent
subject to negotiations.

 

“We seek out institutional investors looking to reduce their currency risk
in the short to medium term.

 

“Our value proposition is ideal for small, distress funds looking to build
capital.

 

“The fund will pay returns in USD or at the prevailing rate where agreed,”
reads part of the investment proposal.

 

Firmcare Construction says it will achieve its returns by picking real
estate assets showing diminishing capacity to provide liquidity to owners.

 

The construction firm says it will buy these properties at a discount to
their eventual value “because the owners may not have the expertise and
patience to go through a lengthy development or restructuring process”.

 

It said the investment strategy is also attractive to Pension Funds that are
in distress as they can invest in cash or in specie for a 12-24 month
horizon in which they can unlock liquidity and interest income from the
bond.

 

“This offering is a private placement due to the sophistication of the
investment strategy,” reads part of the investment proposal seen by Business
Weekly.

 

Firmcare Construction already has a pilot project at 136 The Chase located
in Mount Pleasant, Harare.

 

The pilot project is made up of thirteen semi-detached townhouses which are
now 70 percent complete and are on the market ahead of completion in March
2024.

 

Already on the cards are plans to develop fourteen units sitting on 1,3
hectares of land in Hogerty Hill and 88 apartments in Greendale, among
others.-ebusinessweekly

 

 

 

 

Global market for British construction expertise could be worth £11.5bn,
says Mace

New research by Mace suggests British built environment firms could reap
major rewards by exporting their services. 

 

If UK companies could raise the sector’s share of exports from 0.4% to 1%,
it would generate an additional £11.5bn in revenue and create an additional
142,000 jobs domestically, the consultant claims. 

 

Mace identified Singapore as one of the countries that could benefit from UK
construction expertise

 

According to its ‘construction partner index’, British expertise could
unlock a £400bn boost to infrastructure delivery globally, with the top
targets for export including Singapore, Denmark, India, the UAE and Norway. 

 

Jason Millett, Mace’s chief executive for Consult, said: “Although it might
not always be recognised at home, the UK’s construction expertise is highly
valued around the world – from Peru to Singapore, the British are known as
straight-forward delivery experts.  

 

“This report highlights the huge growth on offer if we can capitalise on
that reputation and help to deliver more of the world’s global
mega-projects.  

 

“By working together, the government and industry have the potential to
create thousands of highly-paying export jobs – as well as partnering with
government and private developers across the world to ensure that vital
infrastructure programmes can be delivered on time and on budget.”  

 

Exports of UK construction services have increased by 53% in the past three
years and Mace’s report made several recommendations for the UK government
and industry to further increase trade. 

 

It highlighted the potential of the ‘delivery partner’ model, an integrated
and collaborative approach to programme delivery that helps to keep
mega-projects on track and on programme. 

 

The report also recommended the incentivisation of exports through tax
credits, prioritisation of construction services in current and proposed
trading agreements, and the negotiation of mutual recognition of
engineering, design and other construction-related qualifications. 

 

 

 

Germany strengthens lightweight construction to save emissions and raw
materials

The German government has agreed on a ‘lightweight construction strategy’
set to reduce raw material consumption and greenhouse gas emissions. The
strategy puts forth measures to strengthen lightweight construction
technologies and the use of lightweight materials, for example to reduce the
weight of airplanes. This could contribute to reducing greenhouse gas
emissions (e.g. lighter trains, cars or planes require less energy) and
primary raw material consumption, with the additional benefit of reducing
dependencies too, according to the economy ministry (BMWK). “Lightweight
construction combines more innovative power with less resource consumption
and therefore has great potential as a transformation technology,” said
economy minister Robert Habeck, whose ministry devised the strategy
alongside seven others. Advanced manufacturing processes, innovative design
approaches and targeted material selection are set to save materials and
optimise weight across the automotive, aerospace and construction
industries, for example.

 

Supply bottlenecks caused by the pandemic, as well as gas supply cuts as a
result of Russia's war in Ukraine have acutely increased awareness of
Germany’s multiple import dependencies. On the path towards decarbonising
its economy, Germany’s government is taking steps to reduce raw material and
energy import dependencies. The country aims to become greenhouse gas
neutral by 2045 and has set the preliminary targets of cutting emissions by
at least 65 percent by 2030 compared to 1990 levels, and 88 percent by 2040.

 

 

 

 

 

NYC commercial construction starts shrink 30%

The commercial construction pipeline in New York City narrowed substantially
in the first half of the year as construction starts declined precipitously.

 

The value of commercial and multifamily construction starts in the Big Apple
declined by 31 percent year-over-year from January through June, the New
York Business Journal reported. The data is courtesy of Dodge Construction
Network, which aggregates data and provides insight into commercial
construction.

 

The value of first half commercial construction starts in the city was $10.8
billion, which still towered over all other metros the report analyzed. But
that value looked meager in comparison to last year’s $15.5 billion. In the
same period from 2021 to 2022, commercial construction starts in the city
rose 22 percent.

 

 

“Commercial and multifamily construction has suffered thus far into 2023 as
tighter lending standards, higher interest rates, slowing demand and
societal changes, such as continued remote work, impact the sector,” Dodge
said in a statement.

 

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data practices in our Privacy Policy.

 

Those reasons may not entirely explain the situation. During the first half
of 2022, developers were racing to meet the deadline to install footings so
multifamily projects could qualify for the 421a tax break, which lapsed last
June. With no replacement around in the first half, developers have shied
away from multifamily projects, wary of how they would pencil out or even
get financing without the tax abatement.

 

Less activity does not mean no activity for the construction sector.
CommercialEdge data compiled towards the end of January found that the
country’s five large office developments expected to be delivered this year
are all in Manhattan. The largest is Brookfield’s Two Manhattan West,
followed by Vornado Realty Trust’s 2 Penn and SL Green’s One Madison Avenue;
all were projected for fourth quarter deliveries.

 

Dallas ranked second in commercial construction start values in the first
half of the year, though the $6.7 billion total was down 17 percent from
last year. Miami ranked fourth, remaining relatively static from the
previous year at $4.7 billion. Other metros to rank in the top 10 include
fifth-place Houston ($4.7 billion), sixth-place Los Angeles ($4.3 billion)
and Chicago ($4.2 billion).

 

 

— Holden Walter-Warner

 

 

 

 

College Lake pipeline construction moving along

WATSONVILLE — More than a month after its groundbreaking ceremony, the $80
million construction of a new pump station, water treatment plant and 6-mile
pipeline at College Lake is taking shape. This week, crews have been working
on building open trenches off Holohan Road during the day and constructing
pipeline near the intersection of Highway 152 and Holohan and College roads
during the night. Crews are also placing machinery near Lakeview Road to
commence the construction process there.

 

The project, located on a former apple orchard along Holohan, aims to
connect a pipeline to deliver treated water from the new treatment plant to
more than 5,500 acres of farmland through Pajaro Valley Water’s Coastal
Distribution System in an effort to reduce groundwater extraction.

 

“Pajaro Valley has been overdrenched, more groundwater extraction than
replenishment for decades,” said Brian Lockwood, general manager of Pajaro
Valley Water Management Agency. “That’s led to water levels to drop and
groundwater quality degradation, most particularly from seawater intrusion.”

 

Lockwood said the pipeline will provide supplemental water to farmers in the
coastal area.

 

The College Lake Integrated Resources Management Project along Holohan Road
will develop facilities to use the water from the seasonal lake to be used
as an alternative to groundwater for agricultural irrigation. (Shmuel Thaler
- Santa Cruz Sentinel)

The College Lake Integrated Resources Management Project along Holohan Road
will develop facilities to use the water from the seasonal lake to be used
as an alternative to groundwater for agricultural irrigation. (Shmuel Thaler
– Santa Cruz Sentinel)

“We can keep agriculture in production while, at the same time, reducing
groundwater extractions so we can protect the groundwater basin for all
customers, whether it be the city, rural residents (and) any of the other
municipalities,” he said. “If you have contaminated water, you’re not gonna
be able to drink it.”

 

The project will serve the area along the Monterey Bay from La Selva Beach
to Moss Landing and will allow treated water to travel from College Lake to
more than 5,500 acres of farmland throughout the region. It will consist of
three primary components that were outlined by Marcus Mendiola, Pajaro
Valley Water’s conservation and outreach specialist. The first is a pump
station near College Lake that will feature an adjustable flap and screening
area and step pools for fish to pass through.

 

 

“That is where we will, when we are allowed through our water rights permit
and our agreements with the California Department of Fish and Wildlife and
National Marine Fisheries, pull water when the fish are no longer utilizing
the lake or when flows are sufficient,” he said.

 

The second component is a water treatment plant with a decanting structure,
pump station and solids handling lagoons to allow for dirt, dust and algae
to be removed.

 

 

“Because this water is quite turbid, there’s lots of material in this water
from the upper watershed,” said Mendiola. “That’s where we will send the
sediment to dry out.”

 

Once the sediment is cleared out, the water will go through the third
component — the pipeline — from 76 Holohan Road to west of Highway 1 to
connect to the existing Coastal Water Distribution system, including the
recycling plant that was completed in 2009.

 

Mendiola said the project received a $7.6 million grant from the California
Department of Water Resources last year and recently received an $8.9
million block grant from the California Department of Conservation for both
the pipeline project and the Watsonville Slough System recharge and recovery
project. An application for further funding has also been submitted to the
Environmental Protection Agency.

 

“I’ve gotta thank those funders for helping us finance this project,” he
said.

 

Lockwood said Indigenous tribal monitors, archaeologists and biologists have
been on site to make sure the contractor is in compliance with permits. He
expressed excitement about the project’s prospects.

 

“I’m looking forward to achieving sustainable water resources, helping to
keep our agricultural customers thriving while also helping to protect the
water resources for the community at large,” he said. “It’s a major project,
so we are excited that it’s underway.”

 

Mendiola said it was a multibenefit project, particularly for farmers.

 

“This project is so valuable for the community, and it’s so valuable for the
environment,” he said. “This project has so many winners. 
 It’s obviously
going to help any human who uses water in the Pajaro Valley, but it also
helps all the other animals that use the water in College Lake.”

 

Lockwood said construction is expected to be completed by the end of 2024.
Construction progress will be updated at Pvwater.org/construction.

 

 

 

 

 

Former Navy pilot values ‘chain of command’ at his construction firm

Emblem Park, a Hardaway Construction apartment and retail project currently
underway in Nashville, Tennessee. Permission granted by Hardaway
Construction

As the median age in construction increases, jobsite experience becomes
increasingly valuable.

 

Construction has faced a stark need for workers for years, and as
experienced leaders retire, a portending brain drain threatens to impact the
way contractors train and educate their employees.

 

David Frazier, CEO and owner of Nashville, Tennessee-based Hardaway
Construction — a 108-employee firm focused on the multifamily sector — knows
about the importance of leadership and a good training regimen. Frazier
graduated from the U.S. Naval Academy in Annapolis, Maryland, in 1996,
before he was stationed in Jacksonville, Florida, where he flew four-engine
Lockheed P-3 Orion surveillance planes.

 

 

But when he entered civilian life in 2005, Frazier took his mechanical
engineering degree into the private sector, where he still values the chain
of command. Here, Construction Dive chats with Frazier about Hardaway’s
mentorship program and how it helps to combat an exodus of experience while
setting young leaders on a successful career path.

 

The following has been edited for brevity and clarity.

 

CONSTRUCTION DIVE: Tell me how your mentorship program works. 

David Frazier: We have seven or eight — including me — experienced executive
leaders in construction, whether they were senior superintendents or project
managers like myself in the field. So, when somebody comes on board, one of
us takes them under our wing. 

 

Headshot of a man in a suit.

David Frazier

Permission granted by Hardaway Construction

We've created what we call the “Hardaway Training Academy,” which has a
unique “hard skills” — for lack of a better term — training approach to it,
such as learning, from a field side, [quality assurance]-type programs or,
from an office side, how to review our files, how to review submittals. 

 

We just take a hands-on leadership program with all of our people. Being the
military guy that I am, I like an orderly chain of command. So, our
assistant project managers report to our project managers who report to
project executives. 

 

We also have the “Hardaway Leadership Academy,” which is more focused on
soft skills: conflict resolution, negotiating skills, relationship building.
I think sometimes that's an important side that gets forgotten about. I
think it's really easy to teach somebody how to do the grunt work, the
day-to-day task, but I think a lot of people don't get true leadership
training. 

 

How important is it to combat the loss of knowledge as experienced members
of the workforce retire and few young recruits join the industry?

It's really important. Construction is an aging industry, specifically on
the field side. I don't know if it's a national perception that being a
construction worker in the field is a bad job, but I'm here to tell you it's
not: Most of our superintendents make more than a project manager from a
salary perspective. 

 

Believe it or not, we've gotten some traction with people wanting to go work
in the field. All of our guys, regardless of career track, go on the jobsite
first. So they're always an assistant project manager or project engineer
when they first start. Because we think, even if you become a project
manager, it's really hard to manage a project if you don't know how things
get put together. So, we use our senior superintendents to train those guys,
teach them how to treat subcontractors and teach them how the parts and
pieces of the building go together. 

 

And a lot of times they get finished with the job and say, “Hey, I don't
really want to be a project manager. I want to be a superintendent.”

 

Does continuing to teach soft skills help with the perception that
construction is a “bad job?”

I think so. I think that's a step in the right direction. We're seeing some
traction. And I think a lot of it is due to education shifting the mindset
and the perception of construction. Tennessee actually has pretty good
trades education programs, and that helps a little bit. I think it's
emphasizing that, “Hey, you can be successful as an electrician, you can be
successful as a carpenter.”

 

What’s the biggest challenge right now in construction education and
recruiting?

I think the biggest challenge is the lack of qualified people who want to
work. I think that in the last few years it's been people chasing money.
We've lost a few people that have actually called and wanted their job back
after a few months because somebody came into town and was going to pay them
30% more. I think they realized that 30% more money doesn't mean 30% more
happiness. 

 

I don't think a lot of companies provide a good education source for
employees. We have an education policy. If somebody wants to go get a degree
or get a master's degree, we're going to help them pay for it. That's one
thing that you can't take away from a person is their education.

 

 

 

 

Work to begin soon on eight PPP development projects in Bahrain

Bahrain will soon start work on eight major projects being implemented under
the Government Land Development Rights Programme in partnership with the
private sector across the kingdom, reported BNA.

 

The Housing and Urban Planning Ministry has begun the preparations following
the directives of HRH the Crown Prince and Prime Minister last month, in
addition to building 280 other units in Khalifa Town, it stated.

 

The ministry has already started the first steps of the project, which will
be implemented in partnership with the private sector through the Programme,
said Housing and Urban Planning Minister Amna bint Ahmed Alromaihi.

 

The work on the 131-unit Salman Town project will begin later this year, she
stated.

 

She also pledged to step up work to implement the directives of His Royal
Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime
Minister, to expand the Programme.

 

The minister was speaking after inspecting the location allocated to
construct the residential units in Salman Town.

 

She pointed out that the first trial phase of the Programme had been a big
success, adding that 93% of the Suhail real estate project, which includes
132 units, have already been sold out in a record time, said the BNA report.

 

"We are co-ordinating with all relevant authorities to ensure the
availability of the required building permits and all necessary basic
infrastructure at the project sites," she added.

 

 

 

 

Retal enters Jeddah with 320-unit residential development

Saudi-based Retal Urban Development Company has joined hands with the
National Housing Company for the launch of its first residential project,
Nesaj Sadayem, in Jeddah featuring more than 320 housing units within the
98,000-sq-m Sadaym suburb development.

 

With 'Nesaj' projects, Retal aims to develop urban, living and modern
communities that offer a civilized quality of life for its residents.

 

Also, the aim is to provide real estate products compatible with the Saudi
family's requirements, such as privacy and space, stated the developer.

 

The inauguration of the Sadayem suburb, located in Jeddah Governorate -
north of Obhur - was held in the presence of Deputy Governor of Makkah
Region, Prince Badr bin Sultan bin Abdulaziz and Prince Saud bin Abdullah
bin Jalawi, Governor of Jeddah as well other senior officials.

 

As a NHC partner, Retal is making a steady contribution to one of the most
important pillars of the kingdom's vision, which is raising the percentage
of citizen home ownership to 70%, said its CEO Engineer Abdullah bin Faisal
Al Buraikan.

 

"We are happy to transfer our successful experiences to all regions of the
kingdom, and to develop housing projects appropriate to the aspirations and
tastes of the honorable people of Jeddah, to exceed the quality of life," he
added.

 

 

 

Amwaj breaks ground on $420mln Iraqi mixed-use development

Amwaj International, a leading real estate developer in Iraq, has broken
ground on Karbala Gate, a $420- million mixed-use development featuring 796
state-of-the art villas with a mix of two- and three bedroom units, for up
to 4,700 residents.

 

Spanning a 517,806 sq m area, the Karbala Gate aims to revolutionise urban
living in Iraq's holy city with a range of key amenities.

 

These include a solar-powered centralised gas system, a state-of-the art
smart AC system in addition to expansive green spaces and a vibrant
boulevard to create a bustling community hub.

 

According to Amwaj, the project is likely to reach its full completion in
2027, with the first residents expected to move into the villas by next
year.

 

Karbala Gate is set to be one of the most transformative projects in the
city to date, it stated.

 

With Karbala's population projected to grow by 2.2% in 2023, the upcoming
project will accommodate this trajectory by investing in the local community
and economy, bridging the gap in Karbala's housing supply shortage.

 

The groundbreaking ceremony was held in the presence of Governor of Karbala
Nssaif Jassim Al Khattabi, Amwaj's Founder and Chairman Namir El Akabi as
well as other senior government officials.

 

El Akabi said: "Amwaj International is ever-growing, and we are proud to
announce the groundbreaking ceremony for our new Iraqi development Karbala
Gate, an innovative project that seeks to put community at its heart and
will be host to Iraq’s second Cadmus School via a purpose-built campus."

 

"This development project is a significant milestone in our ongoing
commitment to providing Iraq with a built environment that fits the needs of
its modern citizens via vibrant residential communities," he stated.

 

"Located in central Karbala, 1 km from Karbala International Stadium and
approximately 4 km from The Holy Shrine of Imam Hussain, the mixed-use
development aims to celebrate its culturally rich surroundings, while also
generating opportunities for urban renewal amid a period of significant
investment in Karbala, a city which lies at the heart of Iraq’s religious
tourism industry," he added.

 

According to him, the city has developed major infrastructure work to
accommodate the millions of foreign pilgrims who flock to the holy city
annually.

 

Recently a 120-km-long motorway was opened that connects Baghdad to Karbala
to facilitate religious tourism. Furthermore, Karbala International Airport
in southeast Karbala is under construction and is expected to be Iraq's
largest airport upon completion this year, he noted.

 

El Akabi said the ‘Karbala Gate’ development is designed with sustainability
in mind, the project features several notable highlights, including a
solar-powered centralised gas system, a state-of-the-art smart
air-conditioning system.

 

"Social benefits of the project also include that it is expected to generate
more than 2,000 skilled jobs, creating viable employment opportunities for
the citizens of Karbala," he stated.

 

"This project represents a significant investment in Karbala’s future, and
we hope it will encourage similar developments across the country as well as
catering to the growing demand for top quality housing by boosting supply in
the areas it is needed most," he added.

 

 

Iraq completes two thirds of Grand Faw Port

OPEC oil producer Iraq has completed nearly two thirds of the Grand Faw Port
project which will link the Arab country with Turkey and Europe, Iraq’s
Transport Minister was reported on Friday as saying

 

Razzak Al-Saadawi said contractors are pushing ahead with the project to
finish it on schedule in 2025, adding that it comprises 5 main berths.

 

“About 68 percent of the 5 berths in Faw has been completed after it was
only 19 percent 3 years ago
we expect berth 1 to receive its first vessel
soon as part of a trial operation,” the Minister said, quoted by Aliqtisad
News and other Iraqi publications.

 

South Korea’s Daewoo Company is building the berths in the Southern Faw Port
under a $2.7 billion contract it was awarded 4 years ago.

 

Faw is one of the world’s largest ports, with planned capacity of 99 million
tonnes per year. It will be linked to Turkey with a 1,200-km rail and
motorway as part of a $17-billion project dubbed “The Development Road.”

 

 

 

 

 

 

 

 

 

 

 


 


 


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Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
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www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


ZHL

AGM

206 Samora Machel Avenue

July 28 2023 | 10am

 


Delta

AGM

Virtual | Head Office, Northridge Close, Borrowdale

July 28 2023 | 12:30pm

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


zIMBABWE

 

2023 harmonised elections

August 23

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


(c) 2023 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell:
+263 77 344 1674

 


 

 

 

 

 

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