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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: TobagoJack who wrote (59187)	4/23/2006 10:37:42 AM
From: shades	Read Replies (1) of 110194

Dubai's Emaar To Invest $450M In Making Pipelines -Report CAIRO (Dow Jones)--Emaar Industries and Investments, the investment arm of Dubai real estate developer Emaar Properties (EMAAR.DI), said it plans to invest $450 million to set up a project for manufacturing oil and gas pipelines, Al-Hayat newspaper reported Sunday. The newspaper quoted Ahmed Khayat, executive president of the two-month old company, as saying three other companies from the Persian Gulf - including one from Saudi Arabia - would be involved in the project. The Dubai company has a seed capital of 250 million United Arab Emirates dirhams ($68 million), the paper said. Khayat said talks were at an advanced stage, and that the company would be either in Saudi Arabia or the United Arab Emirates. Emaar met with several oil companies around the world concerning the project, and is planning to enter the market for manufacturing pipelines in the Middle East and globally, according to Khayat. Emaar Properties holds 40% of Emaar Industries and Investment while 10% is owned by Amlak Finance (AMLAK.DI) and the remaining 50% by Emarati investors. -By Maha El Dahan, Dow Jones Newswires, +20122267850, mahaeldahan@yahoo.com (END) Dow Jones Newswires April 23, 2006 04:50 ET (08:50 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 04 50 AM EDT 04-23-06

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