Private equity firm buys Saudi waste manager; Malta eyes waste exports to Sweden; Soild organic waste project in Lebanon; Aluminium plant in Ethopia;
Saudi Arabian waste management provider acquired
Jadwa Investment, a Saudi Arabian private equity firm, along with its co-investment partners, have acquired Global Environmental Management Services (GEMS) from a group led by UK-based investment management firm Ashmore group. GEMS is a national provider of waste management, recycling, industrial and engineering services across the country. The value of the deal is around $300m (£183m).
Tomra buys Greenbean Recycle
Norway-based Tomra Systems has acquired Greenbean Recycle, based in the US. The value of the deal was not disclosed. Greenbean’s technology will be incorporated into Tomra’s ReAct platform.
Malta mulls exporting waste to Sweden
Malta is planning to export its waste to Sweden for recycling. The move forms a part of of the government’s national plan to manage waste.
Solid organic waste project in Lebanon
The Global Environment Facility will provide $2.5m to the Lebanese government for a contaminated solid organic waste management project. It will start in 2015 and extend for four years. The total cost of the project is around $7.24m with contributions from Electricite Du Liban ($2.2m) and the Environment Ministry $2.49m).
Mitsui’s stake in Silver Bell Mining sold
Japan-based Mitsui has sold its 25% interest in Silver Bell Mining to AR Silver Bell, a unit of Grupo Mexico for an undisclosed sum The Mexican miner currently owns 75% of the Arizona mine operator. The sale is a part of Mitsui’s three-year business plan formed in May, to dispose off JPY700bn-900bn (£4bn-5bn) of assets by March 2017 to fund investment plans and provide returns to shareholders.
Aluminium plant for Ethiopia
Al Ghurair Group of UAE will construct its first aluminium production plant in Ethiopia in conjunction with Tracon Trading. The total amount to be invested is $50m. Equity financing will be provided by Al Ghurair, while Tracon will source funds from local investors. The resulting facility will be a joint venture, where each partner will have equal share in the Ethiopian market. The factory will have a starting production capacity of some 25,000-30,000 tonnes of aluminium, and its completion is expected to replace imports. The factory is expected to commence production in a year.