Investment site – 100 CSKD Sun, 25 Sep 2022 13:24:39 +0000 en-US hourly 1 Investment site – 100 CSKD 32 32 Exclusive: Italy and Intel choose Veneto as the preferred region for their new chip factory Sun, 25 Sep 2022 10:57:00 +0000

The Intel Corporation logo is seen in a temporary office during the 2022 World Economic Forum (WEF) in the alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/File Photo

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  • Intel to Build Advanced Packaging and Assembly Site in Italy
  • Draghi’s successor will have a say before any deal is finalized
  • Italian plant would create up to 5,000 jobs, Intel says

ROME, Sept 25 (Reuters) – The outgoing government of Mario Draghi and Intel (INTC.O) have chosen the northeastern Veneto town of Vigasio as the preferred site for a new multi-billion chip factory. euros in Italy, two people familiar with the matter said.

Intel’s investment in Italy is part of a broader plan announced by the US chipmaker last March to invest up to 80 billion euros ($77.5 billion) over the next decade. in capacity building across Europe. Read more

With an initial investment of around 4.5 billion euros which is expected to increase over time, Intel said the Italian factory will create 1,500 jobs as well as 3,500 additional jobs at suppliers and partners, with operations set to start. between 2025 and 2027.

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The Italian factory would be a state-of-the-art semiconductor packaging and assembly plant, using new technologies to assemble complete chips from tiles.

Asking not to be named due to the sensitivity of the issue, the sources said the parties detailed a comprehensive agreement in early September, but that no public announcement would be made until Sunday’s general election result.

An Intel spokesperson did not comment as negotiations are ongoing and confidential. Draghi’s office also declined to comment.

Located near Verona, on the strategic Brenner highway and railway, Vigasio is the preferred option from a shortlist of two locations, including one in the northwestern Piedmont region.

Among other reasons, the site is well connected with Germany and in particular with the city of Magdeburg, where Intel will build two factories, added one of the sources.

Intel and the government had also initially considered sites in the regions of Lombardy, Puglia and Sicily.

Draghi’s close aides aim to enter into behind-the-scenes negotiations with their likely successors to avoid any risk that the deal will be challenged by Italy’s new government, the sources said, adding that the choice of site was politically very sensitive.

Opinion polls have all predicted Giorgia Meloni’s nationalist Brothers of Italy group will become the top party on Sunday and share power with its allies the League, led by Matteo Salvini, and Silvio Berlusconi’s Forza Italia.

The sources declined to provide further details, but Reuters previously reported that Rome was ready to finance up to 40% of Intel’s total investment in Italy.

The state’s contribution to Intel’s investment program must necessarily be shared with the next government before a deal is finally formalized, one of the sources said, adding that Draghi could let the next government make the decision. ‘announcement.

To boost domestic chipmaking, Rome is also in talks with Franco-Italian STMicroelectronics, Taiwanese chipmakers MEMC Electronic Materials Inc and TSMC (2330.TW) and Israel Tower Semiconductor (TSEM.TA), which Intel has bought earlier this year.

($1 = 1.0320 euros)

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Additional reporting by Valentina Za and Elvira Pollina; edited by David Evans

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GM to invest $760 million to move Ohio plant to produce parts for electric vehicles Fri, 23 Sep 2022 16:37:00 +0000

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook

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Toledo, OHIO/WASHINGTON, Sept 23 (Reuters) – General Motors Co (GM.N) said on Friday it would invest $760 million at its Toledo, Ohio plant to build drive units for electric trucks, the automaker’s first U.S. powertrain facility repurposed for electric vehicles. -related production.

America’s largest automaker currently builds GM’s six-, eight-, and ten-speed rear-wheel-drive transmissions and nine-speed front-wheel-drive transmissions in a variety of Chevrolets, Buicks, GMCs, and Cadillacs in its 2.82 million-foot squares of Toledo. , Ohio, transmission plan which he renamed Toledo Propulsion Systems.

Congress in August approved major financial incentives for automakers to convert factories producing parts for gasoline-powered vehicles to electric models.

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“Once the plant is converted, it will produce GM’s family of EV drive units, which convert electrical energy from the battery into mechanical motion at the wheels,” GM said, adding that the plant will produce transmission products while simultaneously building drive units during GM. VE transition.

The Toledo plant currently employs approximately 1,500 people. Many autoworkers have expressed concerns about the shift to electric vehicles and whether it will impact current auto employment.

“This investment helps strengthen the job security of our Toledo team for years to come and is the next step in our journey toward an all-electric future,” said Gerald Johnson, GM’s executive vice president, Global Manufacturing. and Sustainability.

GM said last year it would increase its investment in electric and autonomous vehicles from 2020 to 2025 to $35 billion, a 75% increase, as it pledges to stop selling gasoline-powered vehicles from 2020 to 2025. 2035.

GM and LG Energy Solution (373220.KS) said last month they were considering a site in Indiana for a fourth U.S. battery cell manufacturing plant for the companies’ joint venture.

Last week, GM announced it would invest $491 million in its metal stamping operations in Marion, Indiana, to prepare the plant to produce a variety of steel and aluminum stampings for future products, including electric vehicles.

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Reporting by David Shepardson and Joseph White Editing by Nick Zieminski

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Power Plant will be a $3 billion investment in West Virginia | News, Sports, Jobs Sat, 17 Sep 2022 04:02:37 +0000 U.S. Senator Joe Manchin, left, and Competitive Power Ventures CEO Lambert said a new natural gas-fired power plant and carbon sequestration project was made possible by the Carbon Reduction Act inflation.

CHARLESTON — Giving credit to the tax incentives of the new Cut Inflation Act, Competitive Power Ventures on Friday announced plans to build the state’s first multi-billion-dollar natural gas power plant using capture technology. carbon.

State economic development officials and representatives from Maryland-based Competitive Power Ventures made the announcement Friday afternoon at the Charleston Marriott Hotel.

“It’s an exciting day and another exciting day in West Virginia,” said U.S. Sen. Joe Manchin, DW.Va., before introducing CPV CEO Gary Lambert. “We had a lot of exciting days and it just keeps getting better.”

CPV plans to build an 1,800 megawatt combined cycle natural gas power plant in West Virginia that will use carbon capture and sequestration technology to control greenhouse gas emissions. The project is expected to be completed within the next 10 years. CPV’s total investment is expected to exceed $3 billion.

“I have to say the reception in the state so far has been amazing,” Lambert said. “It will take us several years, and we have a lot of studies to do and a lot of work to do. We’re going to design this project to fit well into the community, work with the workforce during the development process…and we’re going to work very closely with the agencies and all the reps here to make this project a reality.

A specific location for the project will be announced at a later date, though sources believe the company is considering Doddridge County, already a major hub for the state’s natural gas industry with plenty of access infrastructure. and pipeline already in place. Lambert neither confirmed nor denied whether Doddridge County would be the final destination, saying the company was considering other locations and still preparing for the permitting process.

The natural gas plant proposed by CPV is their most ambitious project to date. The company has nine projects, including wind and solar projects and six natural gas power plant projects.

Lambert said the power project and carbon capture and sequestration project could create 150 full-time jobs combined and up to 1,000 construction jobs. CPV’s largest natural gas plant project in Grundy County, Illinois is expected to create 300 full-time jobs and will represent a $1.3 billion investment in this community when operational in 2023. When complete, the plant will be a wholesale power supplier to the PJM Interconnection market serving multiple East Coast states.

Officials said the project was made possible by updates to 45Q tax credits for carbon capture and sequestration projects through the $737 billion Cut Inflation Act negotiated by Manchin and signed into law by President Joe Biden last month.

“What we did was we made sure that we were going to be able to produce fossil energy, using all the fossil resources that we have in the United States of America,” Manchin said, “more cleaner than anywhere else in the world, but being able to do it and produce it and making sure we’re energy independent.

“At the same time, we are taking the same path with our renewables, being able to invest in renewables and the guarantee of an investment over 10 years with investment tax credits and production tax credits, which that we have never done for a substantial period of time”. period of time,” he continued.

Changes to the 45Q tax credit include the dollar amount per ton for storage in saline geological formations, use by industrial and energy projects. The credit is valid for 12 years after the end of the project and its online publication. Any project that begins construction by 2033 would be eligible for tax credits.

The Reducing Inflation Act also allows eligible businesses to receive the tax credit as a fully refundable direct payment and this option is only valid for five years after the project goes live for businesses to profit. To benefit from the credit, companies must capture at least 75% of their greenhouse gas emissions.

“It makes the difference; it makes a project like this work,” Manchin said. “That’s the point.”

Company officials also thanked the Legislative Assembly for passing legislation this year establishing carbon capture and sequestration standards. House Bill 4491 created a carbon dioxide sequestration pilot program and set permitting requirements for future projects.

“Bill 4491 here in the state helps pave the way for underground carbon storage,” Lambert said. “We need certainty there and we’re looking to attract investors into that side of the business. They want to know that if they put it underground, the state will support them in the long run. This bill does exactly that.

The CPV project is the second project announced this week that will use clean energy and benefit from the IRA. Two companies belonging to Berkshire Hathaway buy the former Century Aluminum site in Ravenswood. BHE Renewables and Precision Castparts Corp. will build a modern titanium smelting facility powered by solar energy. Companies are calling it an industrial site powered by a renewable energy microgrid, the first of its kind, representing an investment of $500 million.

California-based Sparkz also announced earlier this month that it would build an electric battery plant in Taylor County near Bridgeport. The proposed manufacturing plant would employ 350 workers on the site of a former glass factory. The company first announced the factory project in March, which would build cobalt-free lithium-ion batteries. Sparkz patents come from Oak Ridge National Laboratory and Lawrence Berkeley National Laboratory.

“We are able…to generate electricity from West Virginia, and in the cleanest way possible, using the natural resources we have,” Manchin said. “It’s a tremendous opportunity.”

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Baker McKenzie advises Pacoma on the sale to Legget & Platt | Writing Thu, 15 Sep 2022 15:52:42 +0000

Baker McKenzie advised Pacoma Holding S.à rl in connection with the sale of the Pacoma Group to the American group Legget & Platt (L&P).

The acquisition of Pacoma Group is part of the growth strategy of L&P, which entered the hydraulic cylinder market four years ago with the acquisition of PHC.

“With our well-established global team, we were able to support our client in the transaction from start to finish across borders, whether in China, the United States or here on site in Germany. Thus, we quickly achieved the desired objective and Pacoma’s success story can now continue at L&P”, comments Christian Atzler, senior partner of the transaction.

Pacoma is one of the world’s leading suppliers of hydraulic cylinders. They are used in particular in construction machinery and mechanical engineering as well as in logistics and the automotive industry.

L&P is one of the world’s leading manufacturers of comfort components for home and office furniture, beds and adjustable bed frames. The listed group employs more than 20,000 people worldwide at approximately 130 production sites in 17 countries. It reported annual sales of $5.1 billion in 2021.

Baker McKenzie’s Corporate/M&A team regularly advises on domestic and international transactions. More recently, Baker McKenzie advised, among others, Deutsche Beteiligungs AG (DBAG) on its investment in vhf Group, VINCI Energies SA on the acquisition of parts of Kontron AG, AURELIUS on the acquisition of AGFA Offset Solutions and Footasylum JD Sports, FUNKE Digital on the acquisition to Baseplus DIGITAL MEDIA GmbH, Knorr-Bremse AG on the sale of its stake in Haldex AB to SAF-Holland SE, Siemens on the sale of its Commercial Vehicles business to Meritor, Kerry Group plc on the acquisition of c-LEcta, Celanese for the acquisition of DuPont’s Mobility & Materials business, Sika AG for the acquisition of the MBCC group, Advent International for the sale of the Allnex group to PTT Global Chemical, Paragon for the sale of NovumIP to the Questel group, Embracer on the acquisition of Easybrain Limited, and SAP on the sale of the communication unit SAP Digital Interconnect to Sinch AB.

Pacoma Legal Advisor:
Baker McKenzie

Corporate/M&A: Christian Atzler (partner, Frankfurt), Thomas Gilles (partner, Frankfurt)

Corporate/M&A: Richard Stefanink (senior partner, Dusseldorf), Howard Wu (partner, Shanghai), Harold van Kooten (lawyer, Hong Kong), Leo Zhang (lawyer, Shanghai), Karyn Gu (lawyer, Shanghai)
Bank and finance: Matthias Töke (Lawyer, Frankfurt)
IP: Dr. Markus Hecht (Lawyer, Frankfurt)
Business/Restructuring: Joachim Ponseck (partner, Frankfurt), Artur Swierczok (counsel, Frankfurt)

]]> Punjab CM approves draft industrial and commercial development policy, plans investment of Rs 5 lakh cr in next 5 years Sun, 11 Sep 2022 19:17:53 +0000 Chief Minister Bhagwant Mann has approved the draft Industrial and Commercial Development Policy, which aims to attract investment of Rs 5 lakh crore for Punjab in five years and increase the share of the secondary sector in the GSDP to 30% and the tertiary sector at 62%, an official said on Sunday.

“With a vision to foster a progressive, innovative and sustainable industrial and business ecosystem in the state by transforming it into a preferred destination for doing business, the Chief Minister has endorsed the draft policy,” the official said.

Mann on Saturday endorsed the draft policy, which also aims to increase youth employability through training and increase job opportunities in the state.

Mann said the policy will facilitate the development of at least 15 industrial parks, attract at least one anchor unit in various manufacturing and service sectors, provide electricity at an affordable fixed rate for five years to industry and will improve the power supply infrastructure for all. industrial areas to provide quality and uninterrupted power.

The policy has been meticulously drafted to give a major boost to industrial development on the one hand and provide jobs for young people on the other, he said. It will accelerate the growth of startups and foster entrepreneurship by fostering innovation, improving competitiveness and building capacity.

The CM said the policy will also accelerate the growth of MSMEs and develop world-class infrastructure for industry, including quality and affordable energy. The policy also plans to carry out an in-depth study of 10 clusters each year for specific interventions aimed at increasing their competitiveness. It also plans to upgrade and set up joint facility centers in five clusters every year, upgrade and set up 10 technology centers in the state, facilitate 1000 start-ups in five years and to facilitate the establishment of 10 incubation centres/accelerators with a particular focus on digital. manufacturing, life sciences (biotechnology), food processing and information technology.

He said it will also help establish strong links with all major educational institutions, facilitate the establishment of 50 entrepreneurship development centers in colleges, establish a university of skills, establish a center for skills for each industrial cluster identified and to set up advanced programs. competence center on high-tech manufacturing, design and computing skills for five identified sectors.

Mann said that to facilitate investors, the draft policy proposes to develop the Invest Punjab Business First portal for a single unified interface with industry and business for all regulatory and tax services.

Bhagwant Mann said the draft policy provides tax and non-tax incentives for new and existing units in all unit categories like MSMEs, large, anchor areas, border districts, border areas, push sectors, private industrial parks and sick units. .

Meanwhile, Principal Secretary of Department of Industries and Commerce Dalip Kumar said before the policy is rolled out, the business fraternity and industry can make suggestions. He said with the new policy to be notified by October 17, manufacturers should send in their suggestions within a fortnight.

Rexford Industrial Announces $339 Million Acquisitions Wed, 07 Sep 2022 20:05:00 +0000

– Acquires seven properties for $339 million in Southern California Prime Infill Submarkets –

– Total investments since the beginning of the year $20.0 billion –

LOS ANGELES, September 7, 2022 /PRNewswire/ — Rexford Industrial Realty, Inc. (the “Company” or “Rexford Industrial”) (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located throughout Southern California, today announced the acquisition of seven industrial properties for an aggregate purchase price of $338.9 million. The purchases were financed using a combination of cash on hand and the Company’s line of credit.

“These investments demonstrate Rexford Industrial’s unique ability to create value and generate accretive cash flow growth by leveraging our value-added industrial property expertise and exclusive access to off-market investment opportunities. well-located in Southern California, the nation’s largest and most sought-after industrial market,” said Howard Schwimmer and Michael Frankel, co-Chief Executive Officers of the Company. “Our deep market penetration allows for a very selective approach to capital allocation, demonstrated by our $2.0 billion of investments since the beginning of the year and a pipeline of more than $200 million additional investments under contract or accepted offer, which should generate a stabilized return on investment well above market returns. The Company is favorably positioned with a low-leverage balance sheet to deliver long-term value creation to our shareholders through the execution of our internal and external growth strategies.”

In July, August and September, through off-market transactions, the Company acquired:

  • 2880 E. Ana Street, Rancho Dominguezlocated in the LA–South Bay submarket for $34.6 million Where $213 per square foot of land. Following the expiration of the short-term lease, the Company intends to redevelop the 3.7-acre site into an industrial outdoor storage yard. The investment generates an initial unleveraged cash return of 4.1% and is expected to achieve a stabilized unleveraged cash return on the total investment of 5.2%. According to CBRE, the vacancy rate in the 220 million square foot LA – South Bay submarket was 0.9% at the end of the second quarter of 2022.
  • 17909 and 17929 S. Susana Road, Rancho Dominguezlocated in the LA–South Bay submarket for $26.1 millionWhere $245 per square foot of land. The 57,376 square foot property, comprised of two buildings, is situated on 2.5 acres and leased at estimated rents 45% below current market rates. Upon expiration of the short-term sale-leaseback, the Company intends to redevelop the site into a best-in-class, low-coverage logistics facility. The investment generates an initial unleveraged cash return of 2.7% and is expected to achieve a stabilized unleveraged cash return on the total investment of 5.1%.
  • 21022 – 21034 S. Figueroa StreetCarson, located in the LA–South Bay submarket for $24.2 millionWhere $473 per square foot. The 51,185 square foot single-tenant Class A building is located near the I-110 and I-405 freeways and the ports of Los Angeles and long beach. The investment is expected to generate a stabilized unleveraged cash return of 4.2% on the total investment.
  • 3901 Via Oro, long beachlocated in the LA–South Bay submarket for $20.0 millionWhere $146 per square foot of land. Upon expiration of the lease, the Company intends to redevelop the fully occupied, industrial zoned site with a new 74,000 square foot Class A industrial building. The site offers immediate access to the I-405 and I-710 freeways and is strategically located near the ports of Los Angeles and long beach. The investment generates an initial unleveraged cash return of 4.3% and is expected to achieve a stabilized unleveraged cash return of 5.0% on the total investment.
  • 920 E. Pacific Coast Highway, Wilmingtonlocated in the LA–South Bay submarket for $100.0 millionWhere $271 per square foot of land. The port-adjacent, low-coverage 148,186 square foot logistics facility is located on 8.5 acres along the Overweight Container Trucking Corridor and is leased to a single tenant under a sale-leaseback agreement to long term. The investment generates an initial unleveraged cash return of 4.1% on the total investment, increasing over time by 4.0% annual contractual increases.
  • 6000-6052 and 6027-6029 Bandini Boulevard, Commerce and Bell, respectively, located in the LA – Central submarket for $91.5 millionWhere $501 per square foot. The two fully occupied Class A properties total 182,782 square feet on 10.1 acres and are leased at estimated rents 35% below current market rates. Upon lease expiration, the Company intends to generate accretive cash flow growth through renewal of existing tenants or re-letting following a value-added repositioning plan. The investment generates an initial unleveraged cash return of 2.4% and is expected to achieve a stabilized unleveraged cash return of 4.8% on the total investment. According to CBRE, the vacancy rate in the 271 million square foot LA – Central submarket was 0.8% at the end of the second quarter of 2022.
  • A three-building industrial portfolio in the City of Industry, located in the San Gabriel Valley submarket for $42.5 millionWhere $374 per square foot. The 113,733 square foot portfolio of fully occupied, single-tenant Class A buildings is leased at estimated rents 50% below current market rates. The initial unleveraged cash return of 2.4% is expected to reach a stabilized unleveraged cash return on the total investment of 5.5%. According to CBRE, the vacancy rate in the 160 million square foot San Gabriel Valley submarket was 0.5% at the end of the second quarter of 2022.

About Rexford Industrial

Rexford Industrial creates value by investing, operating and redeveloping industrial properties throughout the infill Southern California, the fourth largest industrial market in the world and still the market with the highest demand and lowest supply in the country. The Company’s highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial’s high-quality and irreplaceable portfolio includes 344 properties with approximately 41.6 million habitable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the symbol “REXR”, Rexford Industrial is a member of the S&P MidCap 400 Index. For more information, please visit

Forward-looking statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions regarding matters that are not historical facts. In some cases, you can identify forward-looking statements by using forward-looking words such as “may”, “will”, “should”, “expect”, “intend”, “anticipate”, “anticipate ‘, ‘believes’, ‘estimates’, ‘predicts’ or ‘potential’ or the negative form of such words and phrases or similar words or phrases which are predictions or indicate future events or trends and which do not relate solely to historical matters. Although forward-looking statements reflect the company’s good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For further discussion of these and other factors that may that the Company’s future results will differ materially from any forward-looking statements, see the reports and other documents filed by the Company with the United States Securities and Exchange Commission, including the annual report of the Corporation on Form 10-K for the year ended the 31st of December, 2021, and the most recent Form 10-Q. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes.


Investor Relations:

Stephen Sweet

424 256 2153 extension 401

[email protected]

SOURCE Rexford Industrial

Saudi Arabia to become world’s largest construction site with $1.1 billion investment: Knight Frank Tue, 06 Sep 2022 05:47:34 +0000

RIYADH: Following the launch of Saudi Arabia’s Vision 2030 in 2016, the Kingdom is set to become the largest construction site in the world with a total investment of SR41.3 trillion ($1.1 trillion) in infrastructure and real estate projects, according to the global real estate agency. Knight Frank real estate consultancy.

The real estate company predicts that Riyadh’s population will reach 17 million by 2030, up from around 7.5 million today. The city has unveiled real estate projects worth $104 billion since the launch of the Kingdom’s National Transformation Plan in 2016.

“Vision 2030 has lit embers of excitement across the Kingdom, and with NEOM positioned as a crown jewel in transformation plans, people are eager to be part of history,” said Faisal Durrani, Partner and Head of Middle East Research, Knight Frank. Arab News.

Saudi Arabia will easily become the largest construction site in history, with planned construction projects in the Kingdom being over 555,000 residential units, over 275,000 hotel keys, over 4.3 million square meters of retail space and more than 6.1 million square meters of office space, Durrani said.

The consultancy firm is currently monitoring 15 giga-projects in the Kingdom, many of which are new autonomous supercities, said Harmen de Jong, partner and head of real estate, Strategy & Consulting in the Kingdom.

NEOM is expected to house 9 million residents in 300,000 new homes when completed, making it the largest giga project announced to date, Jong added.

Among 1,000 Saudi households surveyed, Diriyah Gate came third in popularity as a place to own, behind NEOM and The Red Sea Project.

NEOM is radically redefining urban life in resource-poor regions, Durrani said. At the same time, sub-cities like the Octagon, Trojena and the Line will set new benchmarks for luxury living in the region.

Around 30% of Saudi homeowners are willing to spend over $800,000 on a second home at NEOM. “Developers have their work cut out to satisfy this pent-up demand,” Durrani added.

De Jong said the construction progress of part of the projects stands at 29 percent, with only $7.5 billion worth of sub-projects ordered.

The rebirth of Riyadh

Another head-turning giga-project is the $20 billion Diriyah Gate that will give Riyadh 20,000 homes when completed in 2027, creating a city-sized historic district.

Knight Frank estimated that around $2.3 billion was spent on the construction of Diriyah Gate.

“Not to be outdone, the repositioning of Riyadh as the commercial nerve center of the Kingdom is well underway. And businesses around the world are already clamoring to be at the center of the Middle East’s second and much-needed global hub,” Durrani said.

Durrani added that the planned development of 2.8 million square meters of world-class office space could not come at a better time with occupancy levels for Class A offices hovering around 97% across the region. town.

A $147 billion international airport is also set to open soon, according to Knight Frank. Nearly 74% of the $200 billion investment in national infrastructure is dedicated to the new airport.

“The city also attracts a large number of internal migrants, and with support readily available to move up the housing ladder, housing prices are rising rapidly and are currently about 26% higher than at the same time l last year,” he said.

Well-being center

The Kingdom is also improving and providing world-class urban environments for its residents with the $500 million Riyadh Sports Boulevard and the $23 billion Green Riyadh, planting 7.5 million trees in the Saudi capital to transform it into a green and dynamic metropolis.

It also extends to 19,000 hospital beds planned for $13.8 billion, of which $8.6 billion will be spent in Riyadh province alone.

According to de Jong, more than 80 new educational institutions are being built at a cost of $82 billion.

“Furthermore, health care, education and welfare are at the heart of the transformation plans, which will contribute to an extraordinary evolution of the physical realm of the Kingdom, making it unrecognizable compared to what we see today. by the end of the decade,” Durrani said. said.

Investment in Brookfield gains momentum with sidewalk expansion Sun, 04 Sep 2022 09:14:52 +0000 BROOKFIELD — With the Cleveland Browns football logo on the front and center of his helmet and a Cavaliers symbol on the side, Greg Dembowski took a break Tuesday afternoon to explain the ongoing development in the Four Corners section of the city.

At the corner of Route 7 and the old Federal Highway behind it, crews worked to widen sidewalks and build a pocket park along a line of road that will eventually connect to the Still River Greenway – the one of the most traveled trails in the state and one that features the longest walkway in Connecticut.

Across the street, other crews moved earth to clear land to be the site of a future grocery store whose name has yet to be named. This is all part of a major overhaul of a section of town known as Four Corners.

“Initially, eight years ago, it was thought of in three phases, but it has been such a success, you can see all around you that there is construction, four projects in sight from here are now under construction,” he said.

“He grew up and was very well accepted,” he added.

Edmonton’s Faulty Compost Digester Needs $6.7 Million Investment Fri, 02 Sep 2022 23:05:52 +0000

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Edmonton’s long-life digestion facility needs millions of dollars in investment to keep poor-quality compost from ending up in the landfill and polluting the environment with plastic.

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The high solids anaerobic digester, which opened fully last year, needs an additional $6.7 million to build two screens and two blenders to filter waste and remove moisture, according to a staff report meeting at the municipal council on September 12. The original institution was budgeted at $30 million in 2013, but costs rose to $42 million in 2018.

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The facility uses micro-organisms to degrade waste without oxygen and produces “digestate” and biogas. The digestate is put into aeration boxes to create compost. It was designed to process up to 40,000 tonnes of waste per year.

But a business case recommending the new upgrades paints a damning picture of what the long-awaited install produces.

The digester was designed to work in tandem with the Edmonton Composting Facility (ECF). The ECF was closed in 2019 over safety concerns – it was partially closed after a roof collapsed the previous year and had suffered structural problems since at least 2017. The council voted last December to do not build a replacement.

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But without the screening provided to the ECF, the digestate now arrives at the processing site filled with waste, littering the Edmonton Waste Management Center (EWMC) site and adjacent wetlands, the business case says. The quality of the compost is so poor that it is sent to line the landfill.

“Status quo or inaction is not a practical option, as continued waste disposal at treatment sites is considered a significant environmental issue that cannot be ignored,” the business case states. .

“Compost is currently only used as a daily alternative cover for landfill as it does not meet the quality standard for other uses. This use of compost incurs a cost to waste services for the elimination.”

In addition to limiting the waste that escapes from the processing site, the improvements promise to more efficiently mix wood chips with digestate so they can be recycled instead of the city paying to dispose of them, and create a more marketable compost, according to a staff report.

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Digestate that has been screened and processed at the Edmonton Waste Campus.
Digestate that has been screened and processed at the Edmonton Waste Campus. Photo by Source: City of Edmonton, Business Case for Anaerobic Site Upgrade

Garbage Compost

Neil Kjelland, the city’s sustainable waste management manager, said the compost from the anaerobic digester is of poor quality because it’s made from organic waste extracted from the waste stream.

The city sells other high-quality composts in bulk made from organic material collected with seasonal yard waste that is much less contaminated, he said.

“As compost suitable for all applications, we are also providing limited quantities of this compost free of charge to Edmontonians at eco-stations,” he said in an emailed statement Friday. “In addition, the organic material collected in the green carts is also turned into good quality compost, as it contains much less contamination.”

Kjelland said the new mixers will improve the way all organic materials are processed.

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“This will help filter contaminants (plastics, etc.) from organic material. It will also be used to pre-treat organic waste that will be sent to processing partners, to ensure they receive contaminant-free organic waste.

The 2017 business case for three-stream source separation, said organics from green bins would be treated at the anaerobic digestion site.

Last year, an estimated 40% of waste was not diverted from landfill.

Wood chips and plastic cannot be separated at the anaerobic digestion facility.  This means that these items go together in the landfill, although the wood chips can be recycled.
Wood chips and plastic cannot be separated at the anaerobic digestion facility. This means that these items go together in the landfill, although the wood chips can be recycled. Photo by Source: City of Edmonton, Digester Upgrade Business Case

The plan was to make a profit

Producing something the town can sell for a profit was part of the original plan when the anaerobic digester was first funded by the council in 2013.

The digester captures methane gas which can be burned to generate heat elsewhere on the waste management campus, create electricity and be sold.

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The documents available on the city’s website do not indicate whether or not the digester meets expectations. The responses provided by the city did not clarify the situation.

“Some of the gas was used to generate electricity which was used in our facility, fed back into the grid or sold. The subject matter expert who can provide revenue information is not available until next week,” Kjelland said.

The 2021-2022 annual business plan shows an intention to make gradations to better understand “the biomethane potential of waste” which will make it possible to create “key performance indicators expected from the cogeneration of electricity”.

The city has earned $235,000 from bulk compost sales so far this year, Kjelland said.

The digester site was built by Maple Reinders using BioFerm technology and is operated by Veolia, formerly known as Suez.

maple reindeer’ project website said the site can handle 48,000 tonnes of waste although the city says its capacity is 40,000.


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Aptera opens investment round to start production of solar-powered car Wed, 31 Aug 2022 21:32:22 +0000

Aptera has opened another round of investment in the company via its website.

According to Aptera’s recent SEC filing, the company opened a “Class B common stock” investment opportunity via its website. This investment and a current grant opportunity will allow the brand to begin production and hopefully ship its first vehicles as soon as possible. Nevertheless, investors should be aware of the advantages and limitations of this investment opportunity.

Looking at Aptera’s investment page, they list some crucial details and benefits for investors. The investment round has a minimum investment requirement of $1,000, or approximately 95 shares, which the company has valued at $10.50. Additionally, investors who spend more than $1,000 will receive a $100 coupon that can be applied to any Aptera booking. Investors who invest more than $10,000 will receive the same $100 rebate and an additional 5% rebate on any Aptera order.

However, some significant limitations accompany this investment when looking at the corresponding SEC filing. First, Aptera is not a publicly traded company, so the legal requirements for this type of investment are not available in this case. This investment will also not allow owners of “Class B” shares to vote on the affairs of the company; this opportunity is only available to owners of “Class A” shares. Finally, it is unclear whether these stocks are transferable in any way. The company does not authorize the return of the investment, but the deposit does not address the sale/transfer process.

The funds accumulated through this round of investment will hopefully allow the brand to start producing and delivering its vehicle. According to their filing, the vast majority of the money will be spent either on development or production. For a company with 30,000 orders to fulfill, a queue Aptera says is worth more than $1 billion, this funding could be brand defining.

Those who are deeply in love with the idea of ​​hyper-efficient transportation and would love to make that dream a reality should consider supporting the company that seeks to do just that. However, due to the limitations of the stock and the long list of potential risks of filing with the SEC, investors should always be wary of how they spend such a large sum of money. All information cited in this article is available on the Aptera investment site.

Disclosure: William is not an Aptera investor, nor has he purchased any securities mentioned in this article. William is not associated with the Aptera Ambassador program.

What do you think of the article ? Do you have any comments, questions or concerns? Email me at You can also reach me on Twitter @WilliamWritin. If you have topical advice, write to us at!

Aptera opens investment round to start production of solar-powered car