Dubai Metro extension financial close

first_imgUAE: Financial close for Phase 2 of the Route 2020 project to extend the Dubai Metro’s Red Line by 15 km from Nakheel Harbour & Tower to the Expo 2020 site was achieved on March 20.Banco Santander, First Abu Dhabi Bank, HSBC Bank Middle East, Intesa Sanpaolo and Standard Chartered Bank acted as mandated lead arrangers and facility providers.The Phase 1 conventional financing of US$1·1bn was completed in September 2017, comprising a 10-year facility of 4bn dirham amortising over six years from 2022.Phase 2 of the financing comprises a 17-year 5·2bn dirham loan supported by guarantees from French export credit agency Bpifrance Assurance Export and Spanish export credit agency CESCE, amortising over 14 years from 2020.Squire Patton Boggs acted on behalf of the government of Dubai in closing the ‘complex’, transaction, which it said was one of the largest infrastructure financing deals in the Middle East. Director General of Dubai’s Department of Finance, Abdulrahman Saleh Al Saleh, said the ‘encouraging response’ to the financing illustrated ‘the strong confidence of international banks in Dubai’s economy’. He said the government ‘continues to examine ways to optimise its funding strategy’, and export credit agency financing had helped to ‘achieve long-term financing at competitive rates while at the same time allowing us to manage our budget proactively and in a fiscally responsible manner’.The metro extension is being built by the Expolink consortium of Alstom and civil works contractors Acciona of Spain and Gülermak of Turkey under a design and build contract awarded by Dubai’s Roads & Transport Authority in 2016. Thales is providing signalling systems. Construction got underway at the end of 2016, and services are scheduled to start on May 20 2020, five months before the opening of the Dubai Expo.last_img read more

Committee welcomes rehabilitation of Fond Cole Community Center

first_img Tweet Sharing is caring! Share Share Sharecenter_img 201 Views   no discussions Contract signing for the rehabilitation of the community center on 26 February 2015 between Chairman of the Dominica Association of Local Community Authorities (DALCA), Yoland Jno Jules and Second Secretary of the Embassy of Japan, Takafumi URAMembers of the Fond Cole Improvement Committee say they are thankful and extremely excited about the refurbishment of the Fond Cole Community Center. Last week Thursday, 26 February 2015, the Embassy of Japan signed a contract of eighty-five thousand US dollars (US$85,000) grant funding with the Dominica Association of Local Community Authorities (DALCA) which will benefit the villages of Fond Cole and Bagatelle.Fond Cole will benefit from a renovated resource center which serves as a hurricane shelter, post office and youth activity center while a storm drain will be constructed in Bagatelle. Assistant secretary treasurer of the Fond Cole Improvement Committee Lucy Belle Matthew told Dominica Vibes on Monday 2 March, the grant funding is timely as the center has not been functioning at its optimal.“The center has not been functioning as a center because it had not been in the best condition, the windows and doors had been vandalized and the toilets have not been functioning properly”.Mrs Matthew, who is also a councilor at the Roseau City Council, explained that as a result of the condition of the center, the committee could not undertake certain programs.“We are very happy that funding has been sourced thorough the local government and the Roseau City Council and work is about to begin”.“This will enable the committee to carry out some of the educational and recreational activities that we have planned for the community. We are also very happy because our post office will now be re-stationed there,” Mrs. Matthew added.She informed that for several months the Post Office was relocated to Roseau due to vandalism of the community center.Another benefit of the center highlighted by Mrs Matthew is that the youth will be able to use the facility for sporting activities. “Some time back someone suggested that a pool board and a table tennis board should be stationed there so the young people can come and have some indoor sporting activities,” she informed.Officials of DALCA stated during the contract signing ceremony that the new center will be managed by the Roseau City Council; however Mrs. Matthew said the Fond Cole improvement committee will continue to manage the center. LocalNews Committee welcomes rehabilitation of Fond Cole Community Center by: Dominica Vibes News – March 3, 2015last_img read more

Marum stages coaching clinic in Mount Hagen

first_imgRugby League BY RITA PEKI Papua New Guinea Kumuls Head Coach Michael Marum visited Mt Hagen this week to conduct coaching and training sessions with trainers, coaches and primary school students. Marum was in town on Monday afternoon and conducted the sessions at the Rebiamul oval outside Mt Hagen City on Tuesday. Similar sessions were conducted in Jiwaka province on Wednesday. Both the Rebiamul and Hagen Tee Primary Schools students turned out in numbers to welcome and receive Marum. The local teams gathered at the field and did their warm-up, dynamic stretches, agility, ladders, huddles, movements, attacking and defensive drills. Marum gave motivational advice and training to the players, trainers and coaches. His visit boosted the morale of the players and students in the schools rugby league competition. They also hope that one day they will be able to play under his coaching if they are fortunate of making it to the national team, the PNG Kumuls. Mt Hagen Rugby Football League vice president James Meninga applauded Marum for the visit, saying his visit was a bonus as they prepare to kick-start their local competition which was delayed due to the Covid-19 pandemic. Former PNG Kumul, who was one of the participants, Billy Noi told the Post-Courier that it was a positive training session despite limited time. He believes that they had learnt a lot from Marum that would help them go a long way to moulding them. “I really appreciate him coming to Mt Hagen who is an experienced sports administrator who is passionate about training, teaching and developing us,” Noi said. “If PNG Rugby League can arrange more of this training with the assistance of Mr Marum, then this would be great as it will improve the level of the local competition.” He said they had to prepare in the local competition so that they could be familiar with what to do in the intercity games. Marum was appreciative of the presence of the crowd and the participants and he took the opportunity to wish the Mt Hagen League all the best in their first competition next week. The purpose of Marum’s visit to Mt Hagen was to see how the Mt Hagen franchise Digicel Cup team Wamp Nga Hagen Eagles conducted their training and was on hand to give advice where possible to help in their training.last_img read more

Cricket should be on back burner until COVID-19 situation improves: Wood

first_img(Reuters) – Cricket’s return should not be a priority while the country is fighting the COVID-19 pandemic, England fast bowler Mark Wood has said as he questioned whether everyone involved in a match would be safe. The England and Wales Cricket Board (ECB) last month extended the suspension of the professional game until July 1 but England players will return to individual skills-based training next week in venues across the country.The government said elite sport can return in June without spectators in attendance and the ECB is looking at hosting a three-test series against West Indies in July, possibly at ‘bio-secure’ venues.“The nation wants to see sport and we want to play sport, but first and foremost it is safety first,” Wood told Reuters. “Are the players going to be safe, the overseas players, the management, caterers, cameramen, is everybody going to be alright?… Cricket sort of has to be on the back burner while everything else gets better.“As much as we would love to play sport and want sport back, I think it has to be about the nation and getting things back together and making sure people’s safety and key workers and the NHS (National Health Service) are looked after.”The United Kingdom has over 240,000 confirmed cases of the coronavirus so far and it leads Europe with nearly 34,500 deaths. Social distancing protocols will prevent fans from attending matches at stadiums and Wood said their absence will be felt by the players who consider them like the 12th man.“Being a fast bowler, I would go to fine leg on the boundary edge and you are right next to the crowd there and they can give you a bit of motivation or inspiration,” Wood said.“They can make you feel like there is an extra guy in our side. That really does help and not to have that would be pretty weird. We’re just going to have to create our own atmosphere out in the middle. “It might just have to be a little more quiet on the stump cams, but you might get a better idea of what is being said. The only thing from my point of view is that I don’t want to hear that ball smacking off the bat too much.”last_img read more