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Globes [online] – business and technology news from Israel
Fishman to invest NIS 100m in Thai project

Industrial Building will acquire half of a mixed-use project that will include a 70-storey skyscraper.

Globes' correspondent 22 Jul 08 12:04

Fishman Holdings' subsidiary Industrial Buildings Corp. (TASE: IBLD) has signed memorandum of understandings (MOU) with three Thai companies to invest NIS 100 million to acquire half of a real estate venture. The Thai partners will match the investment.

Industrial Building plans to invite its sister real estate companies, Jerusalem Economic Corp. (TASE:ECJM) (JEC) and Darban Investments Ltd. (TASE: DRBN), to participate in the project.

The venture plans to build a 123,000-square meter mixed use project on a 12,300-square meter lot. One of the project's two buildings will be a 70-storey luxury residential, hotel, and commercial skyscraper. The developers plan to apply to increase the building rights to the lot by 20%. Industrial Building did not state where the project is located.

Fishman's Thai partners believe that they will be able to obtain the bank financing needed for the project above the amounts to be invested directly by the parties.

Industrial Building will pay the first NIS 66 million installment of the investment when a binding agreement is signed, and the rest in unequal installments through April 2009. The Thai partner expects to complete the project in 2012.

Fishman Holdings chairman Eliezer Fishman is the controlling shareholder in “Globes”.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on July 22, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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Globes [online] – business and technology news from Israel
Dan Hotels to build hotel in India

The company will build a 250-room hotel in Bangalore for $50 million.

Globes' correspondent 24 Jul 08 14:02

Dan Hotels Corp. Ltd. (TASE: DANH) will build a 250-room hotel in Bangalore, on a 2.1-acre lot that it is buying for $15 million. The project is being carried out through wholly-owned subsidiary Dan Hospitality India Private Ltd.

Dan Hotels plans to build a four or five-star hotel adjacent to Bangalore's high-tech park and will have easy access to it. The company estimate the total cost of the project at $50 million, including the cost of the land. The company plans to finance the project from its own resources, with no external financing.

The site is currently occupied by a factory and other buildings, which will be vacated by the owner before payment by Dan Hotels. The company will pay the initial $8 million when the lot is registered in its name with the rest held in trust until all conditions are fulfilled. The company expects construction of the hotel to take four years.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on July 24, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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Globes [online] – business and technology news from Israel
GTC in €155m Chinese project

GTC China and partners plan a mixed-use project in Hangzhou.

Michal Margalit 30 Jul 08 16:06

GTC Real Estate China Ltd., a unit of Kardan NV (TASE: KRNV;AEX:KARD) subsidiary Global Trade Centre Real Estate NV (TASE:GTC), is participating in a €155 million project in Hangzhou. The company owns half of the project, while Geely Group Co. Ltd. owns 40% and Neoinvest Asia SL will own 10%.

The companies won a tender to buy a 10,400-square meter lot with 109,400 square meters in building rights. The companies plan to build a mixed-use project including 84,000 square meters of residential space and 25,000 square meters of office and commercial space. GTC believes that construction will begin in the second half of 2009 and take three years.

Hangzhou is in the Zhezhiang Province, located on the Yangtze River upriver from Shanghai. It is one of the target cities that GTC mentioned in its investors presentation earlier this month.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on July 30, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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Globes [online] – business and technology news from Israel
Apax halts Tnuva's expansion in India

The plan would have entailed high investment in logistics. The company denies the report.

Ilanit Hayut 7 Aug 08 17:41

Sources inform ''Globes'' that Tnuva Food Industries Ltd., controlled by Apax Partners, has halted its development plans in India. The sources added that the manager overseeing the project from Israel left of his own volition and has not been replaced. It is believed he decided to leave after the plan was put on hold. In addition, Apax has decided to switch its focus instead to the restructuring of Tnuva's current business, including a planned change in the dairy product company's current organizational structure that has not yet been carried out.

Following Tnuva's takeover by Apax and Mivtach Shamir Holdings Ltd. (TASE:MISH), India was thought to be the most important destination for the company's expansion overseas.

The decision to halt the plan was made after Tnuva realized that, in addition to the massive potential, entering India also entailed a considerable risk. The difficulty stems principally from the fact that the market in India is still in its infancy. There has been no consolidation in the dairy sector there, either among producers or dairy farms. The entire value chain still operates in the old format - small farms with cowsheds and local producers offering finished products.

On the other hand, the milk market in India now totals 100 billion liters of milk a year. For the sake of comparison, the bulk milk market in Israel amounts to just 1.2 billion liters a year.

Tnuva realized that entering the Indian market would have entailed substantial logistical costs. A spokesperson for the company said in response, "Tnuva continues to look for business opportunities in India, and has not changed its intentions on this."

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on August 7, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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Globes [online] – business and technology news from Israel
IDE to build desalination plant in Australia

The project will cost €100 million.

Dalia Tal 12 Aug 08 15:19

IDE Technologies Ltd. will build a 50 million cubic meter a year desalination facility for a company in Australia for €100 million. The facility will use the same reverse osmosis technology used at IDE's Ashkelon seawater desalination facility, as well as at facilities in Hadera, Eilat, and Cyprus.

The Australian facility will produce 140,000 cubic meters of fresh water a day. The facility will be one of the largest that IDE has built for foreign customers. In addition, the water quality in Australia requires much more precise and complex treatment in comparison with similar facilities elsewhere in the world.

IDE CEO Avshalom Felber said that the deal consolidates the company's presence in Australia, which is suffering from severe drought and water shortages. The deal also strengthens the company's international presence, in line with its business strategy of global expansion, and also reinforces the company's standing as a global leader in seawater desalination.

Delek Group Ltd. (TASE: DLEKG) and Israel Chemicals Ltd. (TASE: ICL) owns IDE in equal shares.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on August 12, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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