Canada Business Holdings develops USD 3.5bn natural gas project in MENA.

By bne IntelliNews December 30, 2009

Canada Business Holdings is currently developing a USD 3.5bn natural gas project in the Middle East and North Africa (MENA) region, the company said in a press release noting that the partners would be disclosed soon. The target market of the project is the EU and NAFTA regions. The projects goal is to attract technology transfer to benefit from the reduced cost of operations in MENA. At the same time, it aims to reduce the carbon footprint in EU and eliminate the extra cost of natural gas infrastructure. By the time the project is finished, it is expected to provide employment for 7,000 people in different industries. Canada Business Holdings expects the total capital invested in various revenue streams will exceed USD 9bn in 2015.

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