The refinery will be built next to Imperial s existing Gramercy facility in the Gulf Opportunity Zone, under a federally backed and state-run program designed to help the region recover from hurricanes Katrina and Rita.
Byline: Kuwait Investcorp, the asset management firm specialising in alternative investments, has announced that its Gulf Opportunity Fund will acquire a 20 per cent stake in Gulf Cryo, a leading manufacturer of industrial, medical and specialty gases in the Middle East.
1 billion Gulf Opportunity Fund I, the fund's second deal after acquiring a 36 percent stake in the Middle Eastern operations of IT distributor Redington India Ltd in November for $98 million.
One region of the US that offers investment potential is the Go Zone - or Gulf Opportunity Zone - along the Mississippi Gulf Coast, the region that was hit hard by hurricanes Katrina and Rita in 2005 and is now making headway with rebuilding and regeneration, with the emphasis on stronger and more environmentally sound homes for the displaced families.
6 billion in closed-end fund raising* Recently signed $1 billion JV with a GCC sovereign investment fund for a US real estate debt fund* Private Equity team deployed $438 million of equity across three new acquisitions (Randall-Reilly, Asiakastieto and CEME) and one add-on acquisition (Anjac), with one exit (Welcome Break)* Gulf Opportunity Fund I has raised in excess of $1 billion and signed its first investment* Technology Fund III raised $500 million, acquired Utimaco Safeware AG for $21 million, and made further deployment of $44 million in follow on funding for Technology Funds I and II across eight investments * Hedge Fund client AUM of $5.
In addition to funding PA and CDBG, the federal government's recovery and rebuilding assistance also includes payouts from the National Flood Insurance Program as well as funds for levee restoration and repair, coastal wetlands and barrier islands restoration, and benefits provided through Gulf Opportunity Zone tax expenditures.
Notice 2007-36 contains guidance on the extended placed-in-service dates for the 50% additional first-year depreciation available for certain Gulf Opportunity (GO) Zone property and provides additional rules on the "original use" requirement.
