Adloun port construction to begin.

The construction of a fishermen's port in Adloun will begin within the coming few months.

A tender was won by Khoury Contracting Company, for the construction of the port, at a value of $5 million. The duration of works is 18 months, according to Charbel Rizkallah, the project's manager.

Construction will include a breakwater of 600 meters and the fabrication and installation of concrete blocks (Accropodes). It will also consist of the supply and installation of different types of ...

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Gas bottles to be replaced. Price to increase by LL1,000

The Ministry of Energy and Water (MoEW) will replace all butane containers.

Four million units of Liquefied Natural Gas (LNG) bottles for residential and commercial use will be replaced by new ones, to be manufactured by the Bekaa-based Sigma, according to Farid Zeinoun, Chairman of the Syndicate of Gas Distributors.

The MoEW has estimated that there are four million units in the market, according to 2003 numbers. The syndicate expects that there might be additional demand especial...

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Palliative care center to open in Adma.

Providence Hospital, a palliative care center, will open in Adma in early 2016 by the New Life Convent.

The hospital will be dedicated for elderly and abandoned people, terminally ill patients, and homeless children, according to father Elie Riachy, President of the Convent.

The hospital will consist of five floors including 30 beds. It will have a total land space of 3,300 square meters and a 1,700 m2 built-up area.

Investment in the project is $2 million. Riachy said that...

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Two new hotels by Jean El Khoury. Located in Blat and Laklouk

Two hotels under construction by Jean El Khoury Development are expected to be operational in 2017.

The first, the Majestic Hotel, is a four-star property in Blat, Jbeil, on the road leading to the Lebanese American University. It will have 120 rooms, as well as pools, a gym, and retail spaces, said Youssef El Khoury, Managing Partner. Its built-up area will consist of 10,000 square meters. The concrete work has been completed and the project is finalizing its electrical sanitary works. ...

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Plastic recycling factory opened in Baskinta.

TH Company, owned by Maroun Tannoury, opened a factory for recycling plastic in Baskinta this week.

The factory will comprise several production lines. The first will be for recycling polyethylene plastic, such as nylon bags and bottle caps. The recycled plastic will be sold to factories that manufacture electric cables and water hoses. The second line will be a press for recycling plastic bottles, barrels, gallons, and boxes.

The factory will recycle 1.5 tons of plastic per day....

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Shopping center in Tallet El Khayyat. is now available for sale by developer

A shopping center, owned by the Makassed Philanthropic Islamic Association, is now offered up for rent or sale, as a whole unit. It is part of the Hill Top Residence complex, a six residential blocks project, in Tallet El Khayyat, facing Ajialouna.

The 17,000 square meter shopping center consists of four floors, one of which will serve as a parking lot for 250 vehicles. According to Salah Karameh, Sales and Marketing Manager for Arabian Civil Work Company (ACW), project contractor, the ma...

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A $5 million resort slated for Jezzine.

A resort is being planned for Sfaray, in the Jezzine Caza by Masarco, a company founded by the Rizk Saleh family.

Sleiman Saleh, son of Rizk Saleh and part owner, said that the project is still in a preliminary design phase and that they are studying the best mix before starting works.

It is expected to be built on a 57,000 square meter plot of land, but will occupy around 20,000 m2 of it.

It will consist of several pools, bungalows, a restaurant, a hotel, and an events ha...

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F&B cluster slated for Broumana. Roadster and Zaatar w Zeit upcoming tenants

An F&B cluster is under construction in Broumana, located near the Printania Palace Hotel. The project is owned and designed by Toubia Ashkar and family, the owners of Ashkar Structural Consultants, a local engineering design office. It is expected to be operational by next summer.

The cluster will bring a number of restaurants and cafés, Roadster and Zaatar w Zeit being among the upcoming tenants.

The development is being built on a 2,500 square meter land plot. It will hav...

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Stove factory to open in Rashaya.

To produce 1,500 stoves per day to meet local and global demand

Jamal Eddin Abou Ibrahim Est. for Trading and Manufacturing, a manufacturer of stoves, fences, and wheelbarrows, will open a factory in Rashaya Al Wadi in the fall of 2016.

The facility is an addition to a previous one, owned by the company. It will increase production capacity by 200 percent to reach 1,500 stoves per day. Raydan Mahmoud, Managing Director, said the company aims to have a large stock to meet the incr...

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EU to grant $43 million for Back-to-School Campaign.

The Ministry of Education and Higher Education will receive around $43 million from the European Union (EU) for the 'Back-to-School Campaign' of the 2015-2016 school year.

The campaign will provide free access to education in public schools to 200,000 Lebanese and non-Lebanese students. Around 46,000 Syrian refugee children will be enrolled in first and second shifts in public schools.

The EU support is part of a collective effort to bring local and Syrian refugee children back t...

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Sound proof generators factory in Ghazieh. To export more than 60 percent of production to Africa and Gulf

Power and Industrial Machinery Company (PIMCO), a manufacturer of sound proof generators, opened a factory in Ghazieh, Saida in the early summer.

The factory will increase its production capacity from 1,500 sound proof generators to 3,000 per year. PIMCO assembles generators and produces a wide range of products including transformers and distribution boards. PIMCO is an agent of Perkins, Ward Leonard, and Cummins generators.

Investment in the project is around $5 million, includ...

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Tripoli electricity company planned by Najib Mikati. IPO to be launched after Government authorization has been obtained

Nour al Fayhaa, a company founded by former Prime Minister Najib Mikati, was newly established to generate power for the greater Tripoli area.

Mikati said that the company requested, through the Ministry of Energy and Water, a permit to generate power for over 600,000 residents in Tripoli, Al Mina, and their suburbs.

"We have two options: The first is to buy the shares of the Kadisha Concession and manage it and the second is to give permission to Nour al Fayhaa to produce and dis...

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Micro-life insurance program by Arope.

Arope Insurance is launching "Allo Hayete," a micro life insurance program for people between 18 and 60.

The service, subscribed to through a mobile phone text message, targets limited income individuals. It is engineered in collaboration with InMobiles and the two telecom operators, Alfa and Touch.

Subscription is made monthly for $3, weekly for $0.7 or daily for $0.1 for prepaid lines and $3 a month for fixed mobile phone lines. The service is highly flexible because the subscr...

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Danco Commercial Center planned for Choueifat. Third new shopping destination for the area

Excavation works have begun on the Danco Commercial Center (DCC), a retail destination in Choueifat, expected to be completed in two years.

The project, owned by Mohammad Kassab, will be built on an 8,000 square meter land plot. It will have a built-up area of 36,000 m2 and a gross leasable area of 25,000 m2. The center will have eight floors, out of which three are underground, and will encompass a storage floor, and two floors dedicated to 400 vehicles parking spaces. DCC will include ...

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Banks sound despite S&P negative outlook. No risks of deposits currency conversion from lira to US dollars or outflows of capital

The banking system remains strong, despite a negative outlook on some banks expressed by standard and Poor's yesterday, according to industry experts.

"Recent years have proven that there is an obvious disconnection between the rating of banks by credit rating agencies and the depositors' base," said Marwan Barakat, Head of Research at Bank Audi. "Any negative change that had affected banks did not affect deposits negatively," he said.

Standard & Poor's Ratings Services r...

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Sounding alarm to revive downtown. Solidere to give incentives to shop owners

An initiative has been launched today to discuss the revival of Beirut's downtown area. This comes in the light of continuous paralysis of activity in the capital's center due to anti-government protests and strict security measures around political dialogue sessions.

The initiative consists mainly of supporting trade activity in central Beirut. Solidere, the company in charge of developing Beirut Central District, for instance, will give incentives to shop owners to keep them from le...

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15 million euro to enhance living conditions.

The European Commission will release a grant of 15 million euro ($17 million) to assist the country in implementing a strategy to remove mines and improve the living conditions of impoverished Palestinian refugees.

The grant is divided into two programs: The first is Supporting Lebanon Inclusive and Sustainable Socio-Economic Development through Mine Action. The value of this program is ten million euro ($11.3 million). The program will be executed by DanChurchAid (Denmark), Handicap Inte...

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Backyard Hazmieh F&B cluster sells majority to VC firm. Obegi-backed EIP plunges $4.5 million into the restaurant cluster

Emerging Investment Partners (EIP) has concluded its first investment through the acquisition of a majority stake in The Backyard Hazmieh. The project consists of 15 restaurants, five pubs, and other amenities in a landscaped architecture. It is owned by Venture Group, co-founded by Rabih Saba and Marwan Ayoub. Investment in the project is $9 million, EIP is securing half the amount, said Karim Burhani, Managing Director of EIP.

According to Burhani, investing in F&B clusters is a strate...

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UK donates $93 million to refugees.

The UK is offering $93 million for the education sector to help educate Syrian refugees and impoverished children during the coming three years, according to British Prime Minister David Cameron.

The UK has already invested over $46 million in education in Lebanon. "Today, I can announce that we will be doubling our current commitment to $31 million a year for the next three years to help Syrian children in public schools," he said.

The grant would be added to a new aid of $45 mill...

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Mandarin Oriental rescheduled for 2018. Luxury property valued at over $200 million

Mandarin Oriental Hotel Group has announced that it will manage a new luxury hotel and branded residences, expected to open in Beirut in 2018.

The hotel is located on Bachoura 987, an over 60,000 square meter plot, in Downtown Beirut. It is the land that hosts the famous 'Egg Building', also known as the Samadi and Salha building, a shopping center and movie theater ruin dating to the 1970s.

The Mandarin Oriental project was unveiled in 2012. It acquired a Package Deal Contract...

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Lebanon to preside over World Tourism Organization Commission.

Lebanon, represented by Minister of Tourism Michel Pharaon, will preside over the World Tourism Organization (UNWTO) Commission for the Middle East, for a two-year mandate. Egypt and Yemen representatives were elected as vice presidents. The election was concluded during the statutory meeting of the 41st UNWTO Commission for the Middle East, held in Medellin, Colombia.

Following the election, the yearly assembly of the World Tourism Organization was scheduled for May 2016 in Beirut.

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China agreement yields $11 million in financing. To be bartered against local products

The Council for Development and Reconstruction (CDR) signed two loan agreements totaling $8 million and a $3.3 million in-kind grant agreement with the Embassy of China to finance public projects.

The loans have zero interest and will be repaid over a period of ten years. "The loans may be bartered against Lebanese products instead of money," said Wafaa Charafeddine, Director of Funding at CDR.

The projects that will be financed have not yet been selected. "We will act as counterpa...

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IPT gas stations install solar panels.

Issa Petrol Trade (IPT), owner and franchisor of gas stations across the market, will install solar panels over its 168 stations.

IPT Chairman Toni Issa signed a memorandum of understanding with Fransabank and Phoenix Energy, member of Indevco Group to install the solar panels.

The installations will save IPT $600,000, annually, in energy costs, according to Rabih Osta, Area General Manager of Phoenix Energy. IPT will retrieve its investment in the project within six years. The 10...

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First investment by EuroMena Fund extended. Co-financing Nigerian-based Lebanese tissue paper firm

EuroMena III, the latest of the EuroMena Funds, and Amethis Finance, an investment vehicle dedicated for Africa, and other co-investors, have extended a convertible loan for Elephant Africa Holding, the holding entity of Bel Papyrus and Bel Impex operating in Nigeria, producers of tissue paper products in Nigeria. The value of the investment is $50 million, $15 million of which were secured by EuroMena III, said Romen Mathieu, Managing Partner of The EuroMena Funds.

Founded by brothers An...

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Garbage plan approved by Cabinet. Bekaa to receive a $100 million

The Council of Ministers approved the plan to resolve the garbage crisis proposed by the ministerial committee tasked with following up on the matter.

The plan, which was rejected by the municipality of Abey-Ain Drafil, which hosts the Naameh landfill, includes an 18-month phase and a longer term 12-year plan. The Council of Ministers approved administrative decentralization whereby municipalities and unions of municipalities handle the long term process of sweeping, collection, and treat...

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Dairy product factory will open in Dlibta.

Trappistes, a manufacturer of dairy products, jams, and wines, will open a factory for dairy products in Dlibta, Keserwan. Construction works on the factory have been finalized and operations will start once the machines have been installed.

Joseph Fahed, General Manager, said: "We still require some funds to purchase and install the machines that will be imported from France."

The $1 million project will have a built-up area of 300 square meters. The factory will create around te...

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Golden Tulip to operate seventh local property. Group to focus on promoting destinations

The four-star Golden Tulip Jounieh Hotel is expected to open during the first quarter of 2016 in a center on the main highway that includes Exotica, Linea Verde, and ID Design.

It will be Golden Tulip MENA and Louvre Hotels' seventh property in the local market. The management chain already runs the Golden Tulip Galleria, Golden Tulip Serenada, Golden Tulip Hotel De Ville, Golden Tulip Jiyeh Marina, Golden Tulip Lili's in Aley, and the expected Golden Tulip Achrafieh set to open by Decem...

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Plastic boxes factory opened in Taanayel.

Chtayweh for Plastic Industries Company opened a factory for manufacturing plastic boxes for agricultural use in Taaneyal in early September.

The $2 million investment has a built-up area of 1,500 square meters. George Chtayweh, General Manager, said that he borrowed a subsidized loan through Kafalat to finance part of the project.

The factory is fully automated and equipped with machines imported from China. It created around 15 full time jobs.

The production capacity of ...

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Mobile telecom tender postponed for one month. Bidders require more time to prepare their offers

The mobile tender scheduled for today has been postponed toThursday October 8, 2015 at 9:00 AM Beirut Time.

The Bids Department of the Central Inspection Board has prolonged the deadline for submission of the tender documents to the last business day preceding October 8, 2015, before 12:00 p.m., as published on the website of the Ministry of Telecom (MoT).

Youssef Howayek, Advisor to the MoT said that the ministry is not involved with the tender, which is strictly supervised by ...

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Jiyeh power plant on grid next month. Zouk plant to follow within a few months

The construction of a new power plant in Jiyeh is in its final stages.

"It will start producing power by the end of October," said Ahmad Loubani, Director of the Commercial Department at the Embassy of Denmark. The plant will increase total power production by 17 percent.

Danish firm Burmeister & Wain Scandinavian Contractor (BWSC), the project's contractor, is conducting testing and commissioning works in the preparation to link the new plant to the grid.

The Jiyeh plant ...

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Olive oil press in Hasbaya.

Local International Company, a manufacturer of olive oil, will open a factory for pressing olive oil in Hasbaya, in early 2016.

Investment in the project is estimated at $4 million, with a built-up area reaching 1,500 square meters. Robert Saad, Partner and General Manager, said that the factory will be equipped with fully automated machines imported from Italy.

The factory will be ISO 22000 and HACCP certified "The new machines will enhance the quality of olive oil to meet intern...

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Solution to waste crisis in hands of municipalities. Short term plan to resolve rising trash mountains

The Council of Ministers has received the plan of the ministerial committee tasked with handling the trash crisis.

The plan's main component is to ask unions of municipalities and municipalities to handle the responsibility of sweeping, collecting, and treating solid waste, according to Anwar Daou, advisor to the ministry of agriculture.

The committee is formed of the ministries of administrative development, interior and municipalities, environment, and agriculture. Representati...

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Mar Sarkis Elderly House under renovation.

The Mar Sarkis Elderly House in Berbara, Jbeil Caza, is planning to renovate its premises. The project is owned by the Orthodox Waqf of Saint Sarkis.

According to Jad Nader, Managing Partner, of AJ & Partners, designers of the project, the development will cost $5 million. "We are fund raising for the project, and works will kick-off once the sum is collected," he said. It is expected to be finalized within three to four years.

Nader said that the new design will bring a modern ...

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Three electrical substations will become ready in 2017. Matelec contract valued at $108 million

Construction works on three power substations in Bahsas-Tripoli, Mdawar-Ashrafieh, and the southern suburbs, have begun by Matelec, the contracted company.

The new substations will have the capacity to produce 220 kilovolts of electric output. Construction of the substations is expected to be delivered in early 2017. The consultant on the project is DEP Partners.

The contract was won by the local Matelec after being tendered in January 2014 at a value of $108 million. This project ...

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IFCO expands its factory in Bekaa.

International Co. For Manufacturing Foods (IFCO) will expand its factory in Kib Elias, Bekaa, in late 2015.

The $1 million project will increase production capacity from 1,500 boxes of canned foods to 5,000 boxes per day.

The IFCO factory will have a total built-up area of 6,000 square meters. Stephan Adham, General Manager, said that the company used to operate in 20 percent of the factory's space. The expansion will create more than ten full time jobs.

The factory produc...

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UniCarton will open factory in Ghazir. To increase production by 50 percent

UniCarton, a manufacturer of packaging carton, will open a factory in Ghazir in the summer of 2016.

The $4 million project will have a space of 2,500 square meters and a built-up area of 7,000 m2. The factory will create more than 20 full time jobs. The contractor is SNH Engineering.

Roy Habib, Partner and Assistant General Manager, said that the company borrowed a loan from Bank Audi, supported by the Central Bank (BDL) to build the factory. It will be equipped with machines imp...

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TVmoz web TV to be launched in December. Original content fiction series offered gratis

TVmoz is a new web TV released by Cinemoz, a premium 'Video-on-Demand' platform. It will be launched online by the end of this year, according to Karim Safieddine, CEO & Head of Acquisitions.

"There is no regional web series that caters to 15-25 year-olds," he said. According to Safieddine, this age bracket represents 80 percent of the Arab Internet surfers.

TVmoz will offer original web series, in a shorter, more relevant, and younger mould than regular TV series. The shows will ...

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Public and private facilities go solar. Solar generated power finally being seen as alternative to power outages

More public and private facilities, touristic sites, and syndicates are leaning toward solar power to offset public electricity cutoffs.

The Chamber of Commerce, Industry, and Agriculture in Tripoli and the North revealed its intentions to build a solar plant on top of its building to light up the highway from the city's entrance to Bchara el Khoury and Achir el Daya streets. The project, valued at $350,000, is in its tendering phase. Among the latest entities also to adopt renewable ener...

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Solidere revenues up by 50 percent in the first semester.

The Lebanese Company for the Development and Reconstruction of the Beirut Central District, Solidere, witnessed a growth of 50 percent in total revenues in the first half of 2015, compared to the same period last year.

Land sales rose by 300 percent to $26 million, which is the main reason behind the rise in the amount of revenues. Other revenues come from rented properties (+3 percent), rendered services (-19 percent), and hospitality (-78 percent).

The value of Solidere's total ...

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Nini hospital will expand its premises in Tripoli. A $50 million investment to add 90 beds

Construction works have been launched to expand Nini Hospital in Tripoli. The extension will be ready in 2020.

With an investment estimated at around $50 million, the expansion will increase the total built-up area of the hospital from 7,000 to 35,000 square meters, adding another 120 jobs to the current 480 full time workers. The number of beds will increase from 110 to 200 beds. "We need more beds to serve the patients in this area," said Rabih Turkieh, Human Resources Manager of Nini H...

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Imports of mobile devices drop by 85 percent. Illegal trade is back in first half of 2015

Imports of mobile devices have dropped by 85 percent in the first half of 2015, compared to the same period last year. Based on Customs figures, the value of the imports was $11 million this year, compared to $73 million in 2014.

George Azar, Group Strategy Director and Business Developer for AC Holding, local agent for Samsung, said that this was due to the cancellation of the International Mobile Equipment Identity (IMEI). "Smuggling is back at an even higher pace than before the IMEI ...

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Exports decrease by ten percent.

Industrial and agricultural exports decreased by ten percent in the first half of the year, registering $2.05 billion compared to $2.3 billion in the same period of 2014, according to the Customs.

The value of exports in tons remained stable, registering 1.2 million tons in the first half of 2014 and 2015.

Exports of prepared foodstuffs and beverages reached $270 million in the first six months, decreasing by three percent, compared to the same period of 2014. Mounir Bissat, Chairm...

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Factory for grinding chicken feather in Baalbek.

Powder Chicken Meat, a factory for grinding chicken feathers for use in fodder mixture, will open in Fakeha, Baalbek by the end of the year.

The $2 million project will have a built-up area of 1,500 square meters and a land plot that exceeds 14,000 m2. The factory will create around 30 jobs. Eid Matar, General Manager, said that the company still requires some funds to be able to operate the factory.

The production capacity will be 150 tons per month. According to Eid, with every...

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Car race track in Zahlé.

A car race track is under development in Zahle. It is owned by Carlos Rayya, a local contractor. The project has not been named yet.

The race circuit is located behind the Hyundai showrooms. It occupies a 40,000 square meter land plot, leased in a long term contract. The racing circuit is 1,600 meters in length, the largest in the country. It is over 300 meters longer than Mtein's RPM, which until now held the record at 1,280 meters.

Rayya said that construction works have already...

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