Knowledge city project promises attractive returns to expatriates

Updated 18 May 2013
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Knowledge city project promises attractive returns to expatriates

The sponsors of a multi-million rupee project in south India have promised attractive returns for investors among the Kerala expatriates in the Kingdom.
The project, Markaz Knowledge City (MKC), located at Kaithappoyil in Kozhikode district of Kerala state, is in its first phase of construction and is expected to be completed by 2015.
It is a three-phased project expected to be completed by 2020, according to Mohamed Shamshad, marketing manager of Landmark, the project builder.
“It will create 35,000 job opportunities directly and the city as a whole will give additional 25,000 jobs indirectly,” Shamshad told Arab News.
There will be an IT park built on a 1.25 million square feet area, he added.
Indian expatriates returning home will be given preference for employment in the city, as part of Jamia Markaz’s expatriate rehabilitation plan, he added .
Markaz Knowledge City (MKC) is one of the biggest education-focused integrated cities in South India and Kozhikode’s most futuristic residential-cum-commercial township project, spread on a vast lush green scenic land. It offers special exclusive facilities for higher education, health, IT, business, and lifestyle in a very “moral and friendly” environment, he said.
MKC will function with the support of Jamia Markaz, a charitable religious institution in India led by renowned scholar Sheikh Aboobaker Ahammed and as a gift to the community on its 35th anniversary.
The city is developed by Kerala’s Calicut Landmark Builders and Developers India Pvt. Ltd.
The project includes international school, college of graduate studies, engineering college, IT park-SEZ, business school, law college, Unani medical college, multi-specialty hospital, shopping mall, hotel, convention center and apartments.
He said 80 percent of the project land would be reserved for educational facilities and the remaining 20 percent for commercial purposes, which will draw financial support for the educational core.
The educational core, which promotes integrated moral and modern higher education, is developed by Jamia Markaz through donations from its well-wishers and philanthropists.


Libya’s National Oil against paying ‘ransom’ to reopen El Sharara field

Updated 14 December 2018
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Libya’s National Oil against paying ‘ransom’ to reopen El Sharara field

  • Ransom payment would set dangerous precedent
  • NOC declared force majeure on exports on Monday

BENGHAZI: Libya’s state-owned National Oil Corp. (NOC) said it was against paying a ransom to an armed group that has halted crude production at the country’s largest oilfield.
“Any attempt to pay a ransom to the armed militia which shut down El Sharara (oilfield) would set a dangerous precedent that would threaten the recovery of the Libyan economy,” NOC Chairman Mustafa Sanalla said in a statement on the company’s website.
NOC on Monday declared force majeure on exports from the 315,000-barrels-per-day oilfield after it was seized at the weekend by a local militia group.
The nearby El-Feel oilfield, which uses the same power supply as El Sharara, was still producing normally, a spokesman for NOC said, without giving an output figure. The field usually pumps around 70,000 bpd.
Since 2013 Libya has faced a wave of blockages of oilfields and export terminals by armed groups and civilians trying to press the country’s weak state into concessions.
Officials have tended to end such action by paying off protesters who demand to be added to the public payroll.
At El Sharara, in southern Libya, a mix of state-paid guards, civilians and tribesmen have occupied the field, camping there since Saturday, protesters and oil workers said. The protesters work in shifts, with some going home at night.
NOC has evacuated some staff by plane, engineers at the oilfield said. A number of sub-stations away from the main field have been vacated and equipment removed.
The occupiers are divided, with members of the Petroleum Facilities Guard (PFG) indicating they would end the blockade in return for a quick cash payment, oil workers say. The PFG has demanded more men be added to the public payroll.
The tribesmen have asked for long-term development funds, which might take time.
Libya is run by two competing, weak governments. Armed groups, tribesmen and normal Libyans tend to vent their anger about high inflation and a lack of infrastructure on the NOC, which they see as a cash cow booking billions of dollars in oil and gas revenues annually.