Page 14 - DMEA Week 21 2021

DMEA NEWS IN BRIEF DMEA

POLICY activist shareholder group JustShare, said Technip Energies categorises ‘significant
shareholders were encouraged by the contract’ value as between €50 million
Standard Bank commits to bank’s commitment. and €250 million ($61 million-$305
In an interview on Monday Tshabalala
million).
publish fossil fuel lending said he could not say for sure whether a date ZAWYA
for the bank’s exit from fossil fuels would
reduction targets be given, as it was still grappling with when Oman signs cooperation
this would be feasible by given they underpin
Africa’s biggest lender by assets, Standard many African economies. with Turkish industrial zone
Bank (SBKJ.J), committed on Friday to “We’re doing the analysis,†he
publish a strategy and short, medium and said, adding he could not say until this was Oman’s Public Authority for Special
long-term targets for reducing its exposure to complete. “If we put a date … it would Economic Zones and Free Zones (Opaz)
fossil fuels, following pressure from a group of have to be a date that’s got credibility and and the Ministry of Commerce, Industry
investors. integrity.†and Investment Promotion have signed a
However, Chief executive Sim Tshabalala REUTERS cooperation programme with the Turkish
had refused to be drawn earlier this week on Gebze Organized Industrial Zone (GOSB).
whether such a plan would include a date by The Turkish delegation visit to the
which the bank would exit fossil fuels entirely. COMPANIES Sultanate is organised by the Ministry
Sectors like oil, gas and coal accounted for of Commerce, Industry and Investment
4% of Standard Bank’s total lending and Technip wins contract from Promotion, represented by the investment
commitments in Dec. 2019, totalling around promotion sector, in cooperation with Opaz,
67.4 billion rand ($4.85 billion). KIPIC reported Oman News Agency (ONA).
Climate campaigners have been pressuring The visit aims to explore ways of trade
the bank to curb its financing to such sectors, France-headquartered engineering and and investment cooperation between the two
but it has so far stopped short of ending technology company Technip Energies countries and to meet with officials from a
financing for even new coal-fired power said on Thursday that its wholly owned UK number of authorities concerned.
plants, putting it out of step with some of its subsidiary Technip E&C has been awarded a During the visit, an initial agreement was
peers. significant contract for Project Engineering signed for an investment project to replicate
A group of shareholders last month tried to and Management Services (PEMS) by Kuwait a model for the Gebze Organized Industrial
push the bank to table a non-binding vote at Integrated Petroleum Industries Company Zone (GOSB) in the Special Economic Zone
its annual general meeting in May that would (KIPIC) for various projects in southern at Duqm (Sezad). The key joint investment
request it set and publish a strategy and set Kuwait. sectors include mining, petrochemicals, food
targets to reduce its exposure to fossil fuels on The company said in a statement that the and logistics. This joint investment project
a timeline aligned with the goals of the Paris contract is for 6 years duration and covers will be an activation model for the Turkish
climate agreement. Project Engineering and Management Industrial Zone in Duqm.
In a statement, the bank said after meeting Services for various potential projects in the The Cooperation Programme was signed
with the shareholders it confirmed it was Al-Zour complex, including the Al-Zour by Eng. Ahmed bin Hassan al-Dheeb,
committed to publishing both the strategy Refinery, Petrochemical Complex, LNG Deputy Chairman of Opaz, Asila Salim al-
and the targets as part of its 2021 reporting to Import Facilities and other facilities belonging Samsami, Under-Secretary of the Ministry
shareholders. to KIPIC. of Commerce, Industry and Investment
“We’re deeply committed to KIPIC is responsible for operating and Promotion for Investment Promotion, and
supporting inclusive and sustainable managing the largest grassroot integrated Fahit Yildirim, Chairman of Turkish Gebze
development,†Tshabalala said in a complex for refining, petrochemicals Organized Industrial Zone.
statement. manufacture businesses and liquefied natural Signing the Programme reflects Opaz
Tracy Davies, executive director of gas import facilities at Al-Zour complex. efforts, in cooperation with the Ministry, to

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