B2
SU N DAY, JANUARY 11, 2015
MARKET TWO PROJECTS
Firms join hands to help GCC investors in oilfield projects Times News Service MUSCAT: Samurai International Petroleum (Sipco) and Greenstone Equity Partners have joined forces in the Gulf Cooperation Council (GCC) region to meet rising investor demand for global investment opportunities in offshore oil projects. Greenstone Equity Partners, a Dubai-based and internationally experienced fund placement firm, will collaborate with US-based Sipco, to enable them to develop new relationships with GCC-based investors in the region to raise capital for two major oil field projects
located in the Gulf of Mexico. “We are excited to introduce two large deepwater assets — one currently producing and one Greenfield development — to Middle East investors. Both already have significant proven reserves and are expected to be of the standard that yields the best pricing in the crude oil market. The producing asset is particularly exciting given its large size and return profile,” said Alex Gemici, chief executive officer of Greenstone Equity Partners. “Investors in the GCC have long had a unique relationship and unprecedented success with the oil and gas industry, and there is in-
creasingly high demand for global investment opportunities such as this,” he said. “We selected Sipco as its team is renowned for quality and innovation, with a strong history of success delivering greenfield initiatives and developments in the Gulf of Mexico as well as remote or difficult locations around the globe,” added Gemici. “Sipco is pleased to be collaborating with Greenstone Equity Partners as a recognised fund placement firm to help bring two world-class oil field investment offerings to the GCC region,” said Luke Jensen, new business development manager of Sipco.
OMR15.5 million flour mill to be set up in Sohar Oman Flour Mills will have 60% stake with the remaining 40% equity to be held by Essa Al Ghurair, a UAE-based businessman
Times News Service MUSCAT: Board of directors of Oman Flour Mills has decided to go ahead with its plan to build a flour mill in Sohar with an installed capacity to produce 500 tonnes of wheat flour per day. Oman Flour Mills will have a 60 per cent stake in the joint venture, with the remaining 40 per cent equity to be held by Essa Al Ghurair, a UAE-based businessman, Oman Flour Mills said in a disclosure statement posted on MSM website. The project cost is estimated at OMR15.5 million and the state-ofthe-art flour mill will commence operation by the end of 2017.
SPECIALTY FLOURS
The planned mill will be capable of producing all types of specialty flours and will cater to the Al Batinah and Al Dhahira regions of Oman and export to GCC and other international markets
According to Atyab Investments website, the planned mill will be capable of producing all types of speciality flours and will cater to the Al Batinah and Al Dhahira regions of the Sultanate and will develop exports to the
Gulf Cooperation Council (GCC) and other international markets.l A planned agro-bulk terminal at Sohar Port will support the proposed new joint venture flour mill initiated by Oman Flour Mills. The first-of-its-kind agro-bulk terminal in the region will be a major component of Oman’s food security strategy and will handle 700,000 tonnes of grain and one million tonnes of raw sugar imports once it is fully operational, according to earlier reports. The terminal will handle grain products for the Public Authority for Strategic Food Reserves (PASFR) and the storage facility will be operated by Oman Flour Mills. The terminal will also contribute to the development of the Sultanate’s first sugar refinery planned at the port.
HAVE YOUR SAY
Send us your comments at facebook.com/timesofoman blog.timesofoman.com haveyoursay@timesofoman.com