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Silk Road Fund Optimistic with Clean Coal in Dubai

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In August, U.S. industrial behemoth General Electric (GE) and Harbin Electric International Company Limited signed an engineering, procurement and construction (EPC) agreement to start phase one of constructing a clean coal power plant in Dubai. The Hassyan plant is near Dubai’s border with Abu Dhabi and looks to be fully operational by 2023. This would be the first clean coal-fired power plant in the GCC region, with the potential to generate 2,400 MW. The Hassyan plant will have GE’s advanced environmental control systems, enabling the capture of pollutants such as mono-nitrogen oxides, sulfur oxides and dust, to have emission levels at stack equivalent to mono-nitrogen oxides of modern plants. Furthermore, the power plant is being constructed to meet levels that are far stricter than the emission limits set in the Industrial Emissions Directive (IED) of the European Union and in the International Finance Corporation (IFC) guidelines. This project is in line with the emirate’s goal of diversifying its energy sources, part of the official the Dubai Clean Energy Strategy 2050.

Financing the Hassyan Power Plant

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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