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.


Saudi Aramco to invest in refinery-petrochemical project in east China

Updated 18 October 2018
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Saudi Aramco to invest in refinery-petrochemical project in east China

  • This is the third such project in China that Saudi Aramco has set its sight on
  • Last month, Saudi Aramco signed a long-term deal with the Zhejiang project’s operator Zhejiang Rongsheng to supply crude oil

ZHOUSHAN, China/SINGAPORE: State oil giant Saudi Aramco signed an agreement on Thursday to invest in a refinery-petrochemical project in eastern China, part of its strategy to expand in downstream operations globally.
The memorandum of understanding between the company and Zhejiang province included plans to invest in a new refinery and co-operate in crude oil supply, storage and trading, according to details released by the Zhoushan government after a signing ceremony in the city south of Shanghai.
Zhejiang Petrochemical, 51 percent owned by textile giant Zhejiang Rongsheng Holding Group, is building a 400,000-barrels-per-day refinery and associated petrochemical facilities that was expected to start operations by the end of this year.
This is the third such project in China that Saudi Aramco has set its sight on as it seeks to lock in long-term outlets for its crude oil and produce fuel and petrochemicals to meet rising demand in Asia and cushion the risk of a slowdown in oil consumption.
Last month, Saudi Aramco signed a long-term deal with the Zhejiang project’s operator Zhejiang Rongsheng to supply crude oil.
The oil giant had not yet finalized the size of its stake in the project and still needed to complete due diligence, Aramco’s Senior Vice President of Downstream, Abdulaziz Al-Judaimi, said on the sidelines of the event.
Saudi Aramco expects to supply 170,000 barrels per day of Saudi crude to the refinery in Zhoushan when it starts operations, he said.
The first crude carrier supplying the refinery should arrive in December or January, depending on when the project starts, he added.
Aramco also owns part of the Fujian refinery-petrochemical plant with Sinopec and Exxon Mobil Corp, and has plans to build a 300,000-bpd refinery with China’s Norinco. It is also in talks with PetroChina to invest in a refinery in Yunnan.