08 March 2006
Doha: Gulf Energy signed a memorandum of understanding with Microsoft for the development of technology infrastructure at the Energy City Qatar project.
Accelerator Technology Holding co-signed the memorandum as technology advisor.
The Energy City Qatar, located in the Lusail development in Doha, is to become an integrated business energy centre for companies in the hydrocarbon industry.
The project also aims at playing host to secondary and tertiary economic activities that will in turn contribute to the economic and social development of the region
The first phase of the project will be developed at an investment of $1.6 billion.
Gulf Finance House, in partnership with Kuwait Investment Company and Abu Dhabi Investment House, recently concluded a $276 million private placement aimed at raising equity for the project.
The proposed clusters that will comprise the first development phase of the project include business centres for oil and gas producers, infrastructure and downstream companies, shipping and trading agencies, service industries and information providers.
By Staff Reporter
Gulf News 2006. All rights reserved.
