Qatar to invest in Cyprus energy, ports and tech
ECONOMY & POLICY

Qatar to invest in Cyprus energy, ports and tech

In a bid to boost economic ties and explore investment opportunities, the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, made his inaugural visit to Cyprus on Tuesday. A senior Cypriot official revealed that the Emir is eyeing investments primarily in the energy and high-tech sectors, which are deemed to hold significant economic promise for both nations.

Additionally, Sheikh Tamim expressed interest in potential investments in Cypriot ports and banking institutions, further underscoring Qatar's intent to diversify its investment portfolio and deepen its economic engagement with Cyprus.

Qatar's commitment to humanitarian causes was also reiterated during the discussions, with the Emir affirming Qatar's strong support for a maritime aid corridor facilitating the transportation of humanitarian assistance from the Cypriot port of Larnaca to the besieged Gaza Strip. This corridor, facilitated by a temporary pier constructed by the United States off the Palestinian territory, serves as a vital lifeline for delivering essential aid to Gaza's population.

Notably, Sheikh Tamim has played a pivotal role in funding humanitarian aid collection initiatives associated with this corridor, showcasing Qatar's dedication to alleviating the plight of those in need.

However, recent challenges surfaced as the temporary pier encountered damage due to rough seas over the weekend, leading to the suspension of operations temporarily. This setback underscores the logistical complexities involved in maintaining such vital humanitarian lifelines.

During the discussions held between Sheikh Tamim and Cypriot President Nikos Christodoulides, both leaders concurred on the establishment of a working group tasked with evaluating the progress in forging closer economic and political ties between Qatar and Cyprus. This collaborative effort underscores the mutual commitment to nurturing a robust bilateral relationship.

Expressing concern over the on-going military offensive in the southern Gaza city of Rafah, the Qatari Emir highlighted the importance of on-going mediation efforts led by Qatar, Egypt, and the United States. These efforts aim to broker a ceasefire agreement, facilitating the release of approximately 100 Israeli hostages held by Gaza's militant Hamas rulers and ultimately striving for an end to the conflict.

In addition to humanitarian endeavors and economic collaborations, Qatar's partnership with ExxonMobil in oil and gas exploration within Cyprus' exclusive economic zone off its southern coastline further solidifies the multifaceted nature of the bilateral relationship between Qatar and Cyprus.

The visit of Sheikh Tamim bin Hamad Al Thani marks a significant milestone in the diplomatic relations between Qatar and Cyprus, underscoring a shared commitment to advancing mutual interests, fostering economic growth, and addressing pressing humanitarian challenges in the region. (ET Infra)

In a bid to boost economic ties and explore investment opportunities, the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, made his inaugural visit to Cyprus on Tuesday. A senior Cypriot official revealed that the Emir is eyeing investments primarily in the energy and high-tech sectors, which are deemed to hold significant economic promise for both nations. Additionally, Sheikh Tamim expressed interest in potential investments in Cypriot ports and banking institutions, further underscoring Qatar's intent to diversify its investment portfolio and deepen its economic engagement with Cyprus. Qatar's commitment to humanitarian causes was also reiterated during the discussions, with the Emir affirming Qatar's strong support for a maritime aid corridor facilitating the transportation of humanitarian assistance from the Cypriot port of Larnaca to the besieged Gaza Strip. This corridor, facilitated by a temporary pier constructed by the United States off the Palestinian territory, serves as a vital lifeline for delivering essential aid to Gaza's population. Notably, Sheikh Tamim has played a pivotal role in funding humanitarian aid collection initiatives associated with this corridor, showcasing Qatar's dedication to alleviating the plight of those in need. However, recent challenges surfaced as the temporary pier encountered damage due to rough seas over the weekend, leading to the suspension of operations temporarily. This setback underscores the logistical complexities involved in maintaining such vital humanitarian lifelines. During the discussions held between Sheikh Tamim and Cypriot President Nikos Christodoulides, both leaders concurred on the establishment of a working group tasked with evaluating the progress in forging closer economic and political ties between Qatar and Cyprus. This collaborative effort underscores the mutual commitment to nurturing a robust bilateral relationship. Expressing concern over the on-going military offensive in the southern Gaza city of Rafah, the Qatari Emir highlighted the importance of on-going mediation efforts led by Qatar, Egypt, and the United States. These efforts aim to broker a ceasefire agreement, facilitating the release of approximately 100 Israeli hostages held by Gaza's militant Hamas rulers and ultimately striving for an end to the conflict. In addition to humanitarian endeavors and economic collaborations, Qatar's partnership with ExxonMobil in oil and gas exploration within Cyprus' exclusive economic zone off its southern coastline further solidifies the multifaceted nature of the bilateral relationship between Qatar and Cyprus. The visit of Sheikh Tamim bin Hamad Al Thani marks a significant milestone in the diplomatic relations between Qatar and Cyprus, underscoring a shared commitment to advancing mutual interests, fostering economic growth, and addressing pressing humanitarian challenges in the region. (ET Infra)

Next Story
Infrastructure Urban

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain

Shoals Technologies Group, a U.S.-headquartered manufacturer of electrical balance of systems (EBOS) for solar, energy storage, and e-mobility, reported a 23.9% year-over-year (YoY) decline in revenue, which dropped to $102.2 million in the third quarter (Q3) of 2024. This decline was mainly attributed to project delays and supply chain disruptions. The company posted a net loss of $300,000, a significant improvement compared to the $9.8 million net loss in Q3 2023. Adjusted net income was reported at $13.9 million, reflecting a 58.2% YoY decrease. Adjusted EBITDA stood at $24.5 million, a 4..

Next Story
Infrastructure Energy

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes

FTC Solar, a U.S.-based provider of solar tracker systems, reported a revenue of $10.14 million in the third quarter (Q3) of 2024, surpassing analyst expectations by $240,680. However, this figure marked a 66.8% year-over-year (YoY) decline compared to the same quarter in 2023, primarily attributed to reduced product volumes. The decline in solar tracker revenue was mainly due to an 82% decrease in the amount of MW produced, which was negatively impacted by delays in customer projects. This was partially offset by an increase in the average selling price (ASP), which led to better pricing an..

Next Story
Infrastructure Urban

Dilip Buildcon wins bid for BharatNet Phase III broadband project

Dilip Buildcon announced on Tuesday, November 12, that its STL-DBL consortium had submitted the lowest bid for BSNL's BharatNet Phase III broadband connectivity project. The USOF-funded project, which aims to provide middle and last-mile connectivity in Jammu Kashmir and Ladakh, is valued at Rs.1,625.36 Crore. Dilip Buildcon holds a 70.23% stake in the implementation of the project. The project is expected to be completed in three years, and the corporation will secure a 10-year maintenance contract. In recent days, BSNL has awarded several contracts for the BharatNet project. On Monday, No..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000