July 13, 2008
Capivest Plans to Establish a $1 Billion Company in the Mena Region
bahrain-based capivest has plans to establish a $1 billion dollar company that will build the first-of-its kind magnesium smelter, meeting environmental standards observed internationally, in the middle east and north africa (mena) region. capivest has signed an agreement representing a strategic alliance with tru group, (an international technical advisory team with extensive experience in engineering, planning and managing technology-intensive industrial projects) to oversee the technical and engineering arm of the company. the project also entails future plans to build multiple environmentally friendly magnesium smelters in different locations, which will provide another steady income stream for the mena region.
the magnesium alloy market continues to show strong signs of growth potential, with auto manufacturers in particular seeking lightweight yet durable solutions that comply with increasingly stringent environmental standards. the capivest magnesium smelter built by the company will produce pure magnesium metal and its downstream for high-quality magnesium alloy casting, magnesium extrusion, and magnesium die casting. these end products are most notably used by aluminum smelters, the automotive and aircraft industries, and in the alloys for the production of aluminum for various usages.
ceo of capivest, mr. nabil hadi, commented on this strategic move stating: "our approach is to always look for novel investment opportunities having the potential to contribute to the development of regional economies without harming the environment, which also offer our investors high returns on their equity. the magnesium industry is still somewhat an unchartered territory in the region, so we feel there is a huge potential for this company capivest will establish." mr. hadi added, "collaborating with tru group was important for this project, because we wanted to have a highly- specialized and dependable team of advisors with international experience committed to working with us through the long haul."
2008 Al Bawaba (www.albawaba.com)
Originally published by By Al-Bawaba Reporters.
(c) 2008 Al Bawaba. Provided by ProQuest Information and Learning. All rights Reserved.