Tunisian - Kuwaiti project worth $6 million
Tunisia-Kuwait, Business, 5/21/1999

The Kuwaiti Company El-Mal has decided to invest $6 million in the Tunisian company, Marina Hamamat El-Ganoub.

A press statement released by the Kuwaiti company said these investments will raise the capital of the Tunisian company to 19 million dinars, adding that it is the first time a Kuwaiti private company will invest in a private Tunisian company, because usually the Kuwaiti investments in Tunis are done through governmental channels.

The Kuwaiti company aims at establishing a tourist resort including a harbor for yachts at a total cost of 110 million dinars, including the building of a stream and harbor for boats, 640 apartments and 53 villas, as well as several entertainment facilities along an artificial island inside the resort.

There are seven Tunisian public banks and Tunisian investors, including 10 persons owning hotels in the region, who are going to have a share in the Marina El-Hamamat company's ownership.

Previous Stories:
  Kuwaiti - Tunisian economic talks   (4/12/1999)
  Contract for first power station in Tunisia to be endorsed tomorrow   (3/23/1999)
  Abu El-Makariam Egyptian group buys Tunisian factory   (3/9/1999)
  New Kuwaiti communications company   (1/30/1999)

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