Somali companies to invest $1 billion in Somaliland and Somalia

[Archdemos]

Newly-found Somali company to bring peace to country

 

 

Five Somali companies signed an agreement here on Sunday to establish a joint company providing much-needed electricity and gas infrastructure to the under- developed country.

 

The agreement was signed at the sideline of the round table meeting after the closing of the United Nations' Somalia Conference in Istanbul.

 

Sharif Ahmed Said, director of the Somalia Business Council, said: "this project will give Somali people the peace dividend that has eluded them for so long."

 

The Trans-National Industrial Electricity and Gas Company will start with an investment of 1 billion US dollars from the partners and other investors.

 

The five companies, which asked to remain unnamed for the moment, will provide the initial 300 million dollars down payment. The five companies are all local, not international.

 

The remaining funding will be provided by individual, not institutional, investors and by the manufacturers themselves, Abdullahi Hussein, spokesman for one of the companies told Xinhua.

 

The company aims to implement the Somalia Peace Dividend Project, a labor intensive electricity and gas infrastructure program to provide these services for the new industrialization of Somalia, and will be carried out in two phases.......

 

Source

 

 

Anybody know anything about these and who this companies and individuals may be?

[nuune]

The five companies

, which asked to remain unnamed for the moment

Nothing to hide there, 5 of them are telecom companies, and I can list them now for anyone who is interested to know the names.

 

 

NationLink

Telesom

Golis

Hormuud

Telecom Somalia

[Chocolate and Honey]

300 million? Thats a large sum. And what parts of Somalia/Somaliland? And how will profits be guranteed?

[Jacaylbaro]

some of the money should be directed to me as well. I should prepare my wallet and keep it clean.