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Kingston proudly announces and congratulates the successful graduation of KIRAN ABID on Jan 2025

Ms. Abid was awarded by Kingston Group of Companies a full sponsorship of a four-year Bachelor of Science Cardiovascular Technologist at the University of Azad Jammu & Kashmir in Pakistan.

Kingston proudly announces and congratulates the successful graduation of HANNAH IZABELLE PERLAS and passing the Philippine Pharmacists Licensure Board Examination on the 8th of November, 2024.

Ms. Perlas was awarded by Kingston Group of Companies a full sponsorship of a four-year Bachelor of Science in Pharmacy at Emilio Aguinaldo College in Cavite, Philippines, and graduated with a GWA of 1.75.

IL Castello Borghese represents much more than a mere architectural structure; it is a tangible emblem of Italy‘s historical and cultural fabric. Originating from the vision of Cardinal Costagutti in the 16th century, it has become a symbol of power, religion, and nobility over time, having been owned by prominent figures such as Prince Torlonia and Prince Camillo Borghese, who took on the spiritual leadership role of the Catholic Church by becoming Pope.

Currently, IL Castello Borghese continues to operate and is merely seeking a new owner who will provide a worthy setting for this unique gem, IL Castello Borghese. IL Castello Borghese Park preserves an elegant architectural ensemble,

and the entire property is officially recognized as a historical heritage of Italy. The main buildings here have preserved their original architecture, allowing visitors to literally touch the history of the Bel Paese (beautiful country). The noble estate stands out with its ascetic and restrained style, characteristic of the time of its construction and the cultural features of Lazio, central Italy.

The Villa still belongs to the Family of Borghese. The Castle, the surrounding lands, and other properties around the Villa are for sale, as per the title deeds provided by the owner.

In 2024, Kingston led the Transaction through-out a preliminary deal, legal-financial-technical due diligence, financing plan, and documentation, to acquire a 100% stake in the IL Castello Borghese.

Long-term secured access to 1 (one) Limestone, and 2 (two) clay quarries, initially leased in 2010, for rehabilitation and operation under a Lease Agreement, which was extended later till 2039.

All products are manufactured in line with European and Iraqi standards and distributed in 50 kg bags, pallets, and in bulk. Currently, Sulphate Resistant Cement (SRC) is the most popular grade of cement in the Middle and South of the country due to the high salt content of the soil, which requires sulfate-resistant products.

Since 2019, the plant has ramped up production of premium products such as Ordinary Portland Cement (OPC) to cater to customer requirements. KCML directly manages the delivery of bulk products for all financially complied customers (major projects and ready mix), representing ~35% of bulk sales. The distributor network covers ~65% of bulk sales to ensure delivery while KCML is keeping a strong commercial relationship with the client.

KCML was fully refurbished between 2013 and 2016, with investments of c.$216m financed through a group loan. Line 1 and Line 2 were fully rehabilitated, including the crusher, pre-processing, clinker storage roof, cement mill, packing plant & bag loading. KCML is currently prioritizing the Group loan capital repayment. Then, the rest of the payables will be paid as stated in the agreement between the partners.

In 2024, Kingston led the Transaction, throughout the preliminary deal, legal-financial-technical due diligence, financing plan, and documentation, to acquire a 100% stake in KCML.

At 124.6 trillion cubic feet (“tcf”), Iraq’s proven natural gas reserves at the end of 2020 were the 11th largest in the world. A large proportion of Iraq’s natural gas reserves are also associated with oil reservoirs (somewhere between 67% and 75%). In 2022, Iraq’s dry natural gas production was 332 billion cubic feet (“bcf”), but consumption was 657 bcf, much of which went to the electricity sector. Iraq flared 628 bcf of natural gas in 2022, ranking as 3rd largest source country of flared natural gas in the world behind Russia and Iran.

Rockflow was engaged to develop an evaluation of the feasibility and viability of Miran Field and the drafting of an initial high-level business plan.

The Reservoir is described as a complex, fractured carbonate with heavy oil and sour gas. After further studies over several years, a gas Field Development Plan (“FDP”) in 2018 envisaged gas production ramping up to a plateau of 500 mmscfd for ten years. The sour nature of the gas meant that a development of this scale would yield around 2,400 tons per day of elemental sulfur.

In 2024, Kingston led the Development, through-out pre-feasibility, feasibility and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the Plant.

Historically the market in Iraq was substantially greater than is currently the case. It is certainly possible that having a reliable indigenous supply of nitrogenous fertilizer will trigger a surge in local demand. However, a facility in Sulaymaniyah would also, need to secure export sales in surrounding countries, most especially Turkey.

AmmoniaTechnology Licensors

• Topsoe (Denmark)
• KBR (US)
• ThyssenKrupp Uhde (Germany)

Urea Technology Licensors

• Stamicarbon (Maire Techimont Group) (Amsterdam)
• Snamprogetti (Saipem) (Italy)
• Toyo (Japan)

ORP was engaged to perform a pre-feasibility and economic model of studies.

The main focus was on nitrogen since both globally and in Iraq it is the most important nutrient. Furthermore, nitrogenous fertilizers are typically produced from natural gas and there is understood to be inexpensive natural gas available in northern Iraq.

The most common route for the production of nitrogenous fertilizers is from ammonia produced from natural gas. Whilst other routes to ammonia are known, such as from heavier hydrocarbons or electrolytically produced hydrogen, the natural gas route dominates global fertilizer production.

In 2023, Kingston led the Development, through-out pre-feasibility, feasibility and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the Plant.

The scorecard indicated rating is between Ba2 to Baa3 and is positively influenced by strong credit metrics while the actual assigned rating of Caa1 incorporates Iraq’s sovereign rating.

The Kolak Group is an Iraqi-owned family conglomerate.  The business has been family-owned since its founding in the late 1920s in Sulaymaniyah. It began in wholesale food trading and real estate, expanding into flour milling in the 1960s.

Since 2003 the business has been run by Mr Sa’ad Kulk, who is the grandson of the founder.  The wider Kulk Group has over 1,640 employees.

The group currently owns three main operating subsidiaries which generate most of the company’s profits and cash-flows, namely:

• Royal Can Making Limited (RCMC) has been a leading beverage can and can-ends manufacturer company since 2010.  It is located in Al Sulaymaniyah, in the east of the Kurdistan region in Iraq;
• Middle East for Manufacturing Packaging Materials

The company (MEPAC) manufactures beverage cans in Baghdad; and

• Pioneer Pharmaceuticals, which is also based in Sulaymaniyah manufactures, distributes, and promotes a wide range of high-quality generics and licensed pharmaceutical products, covering key therapeutic areas.

In September 2022, Kingston led a legal restructuring of the Group, proforma consolidation, and application with Moody’s to get a credit rating. This work concluded in November 2024, when Moody’s assigned a privately monitored Caa1 long-term corporate family rating (CFR) to Kolak Group Investment L.L.C. (Kolak Group), an Iraqi family-owned business, headquartered in Dubai, UAE, with 100% of its operations based in Iraq (Government of Iraq, Caa1 stable). The rating outlook is stable.

The scorecard indicated rating is between Ba2 to Baa3 and is positively influenced by strong credit metrics while the actual assigned rating of Caa1 incorporates Iraq’s sovereign rating.

Royal Aluminum Investment (RAI) is intended to develop a fully integrated greenfield aluminum rolling mill to produce can sheets. RAI currently operates canning facilities in the Middle East so it would supply its operations with sheets from the proposed rolling mill. The facility could potentially supply other customers in the Middle East and further afield.

The facility will be situated in Abu Dhabi, UAE, and several potential sites were being investigated.

Harbor Aluminium was engaged to develop a market study. Their scope of work included an aluminum beverage can overview, Deep-dive Supply Demand Outlook for Aluminium Beverage Can Sheets, an Assessment of prices and costs for aluminum beverage can sheets, and an assessment of UBC and class scrap markets in the Middle East and North Africa.

Hatch was engaged to develop a preliminary study of the proposed aluminum rolling facility. At the start of the study, the team developed a preliminary Project Charter and confirmed the key design requirements, including the preliminary product mix. A matrix of nine options was identified. The logic of the options was to investigate the impact of scale on project complexity and CAPEX, to consider the ability to leverage the benefits of molten metal supply or slab supply from a local smelter(s), and also to consider the potential financial benefits of recycling scrap. RAI was in favour of the 500 ktpa, with Remelt facilities.

In 2022, Kingston led the Transaction, through-out pre-feasibility, feasibility, and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the Plant.

In 2022, Kingston led the Development, through-out pre-feasibility, feasibility and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the Plant.

Investing in the Iraqi market, particularly in the iron and steel industry, offers lucrative opportunities for growth and profitability. With growing export potential, strategic import dynamics, diverse supply chains, government support, and the potential for industry advancement, investors stand to benefit from tapping into Iraq’s burgeoning market and contributing to its economic development journey.

Royal Steel Mill mainly includes the steelmaking workshop, the steel rolling workshop, the sewage treatment plant, the oxygen station, the lime kiln, the 110 kV main substation and its supporting public and auxiliary facilities. In the 530,000 t/a EAF area of Phase I, a steelmaking workshop will be built whose main facilities include one 60 t EAF, one LF, one billet CCM, and supporting auxiliary facilities. The wire rod rolling project belongs to Phase I, with auxiliary equipment composed of hydraulic systems, lubrication systems, lifting and transportation equipment, and mechanical repair equipment.

The main facilities in the 530,000 t/a EAF area of Phase II include one 60 t EAF, one LF, one billet CCM, and supporting auxiliary facilities. The bar rolling project belongs to Phase II, with auxiliary equipment including hydraulic systems, lubrication systems, lifting and transportation equipment, and mechanical repair equipment.

In 2021, Kingston led the development, through-out pre-feasibility, feasibility and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the plant.

Iraq having one of the more fertile lands in the region after Turkey, Syria, and Lebanon, it only utilizes 18% of land for agriculture, out of which 8.4 % is arable, 0.5% for permanent crops, and 9.2% for permanent pastor. Thus, there is significant opportunity for Iraq to better exploit its agricultural lands and produce more vegetables and dairy for processing and packing.

As Iraq’s GDP and population grow, and as domestic production of glass becomes competitive, demand is expected to double in the next few years versus PET and cans.

A sales strategy is to be implemented in 4 phases, starting with medium-sized containers for carbonated soft drinks (CSD), beers, and juice, followed by short-sized containers for food, third, short sized containers for pharma, and forth, large sized containers for still drinks, large juices, & large food bottles.

Based on market and sales priorities, the Manufacturing Plan establishes the CAPEX and OPEX requirements in order to satisfy demand and satisfy revenue output.

Kingston is proud to present today, the 20^th of March, 2020 the successful Master’s degree graduation of our employee Ms. Dana Al Midani.

Ms. Al Midani was awarded by Kingston a full sponsorship of a two year Master’s Degree in Quality Management at Wollongong University in Dubai and graduated with a GPA 66 WAM (Distinction).

In 2019, Kingston led the Transaction, through-out a preliminary deal, legal-financial-technical due diligence, a financing plan, and documentation.

The Pipeline started operation and gas deliveries in May 2008, ceased operation in 2012.

The El Arish-Ashkelon pipeline has a daily maximum capacity of around 12 million cubic meters, expected to increase further. During the Arab Spring, the Pipeline was attacked multiple times, and subsequently the flow of gas was halted, and as a consequence, any exportation of gas by EMG ceased. At the beginning of 2020, it turned into one of the main energy supply sources for Egypt, receiving gas from Israeli offshore fields in Leviathan and Tamar.

Metel Egypt Limited attempted to acquire the 25% stake in the EMG, legally owned by Thai energy company, PTT Energy Resources Co. Ltd., a 100% owned subsidiary of PTT Public Company Limited, and the 17% stake legally owned by Mediterranean Gas Pipeline Ltd.-British (MGPC), for a for a total 42% stake, (the Transaction).

Benya is the leading digital solutions and ICT infrastructure provider in Egypt and the MEA Region. Through its subsidiaries that operate across various ICT verticals, Benya offers a wealth of products, services and digital solutions including telecommunication services, cloud, and security solutions, hyperscale data centers, manufacturing technology-based solutions and systems integration. With its existing range of service offerings, coupled with its solid expansion plans to provide a comprehensive ICT value chain, Benya has established a sound reputation as a key enabler of digital transformation. Benya is positioned and recognized as the partner of choice for both public and private sector clients and remains committed to digitally transforming nations and businesses, eventually enhancing the lives of the communities we serve. Benya is dedicated to building a digitally united and smart MEA Region.

Due to its massive growth, Benya called on Kingston in October 2019 to manage raising finance in an amount over hundreds of billion USD in Egypt, Africa and Middle East.

Kingston is proud to present today, the 1st of June, 2019 the successful Master’s degree graduation of our employee Ms Ana Maria Dobosaru.

Ms Dobosaru was awarded by Kingston a full sponsorship of a two year Master’s Degree in Business Administration, she majored her studies in Finance in American University of Ras Al Khaimah and graduated with a GPA of 3.9.

Horseracing began in Dubai in October 1981 at a local camel track that hosted a Thoroughbred meeting organized by the office of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Approximately 10 years later, in early 1992, the Dubai Racing Club was established and soon was followed by the official opening at Nad Al Sheba Racecourse, which featured exemplary jockeys Lester Piggott and Willie Carson, among others. On March 26 of that year, it hosted the inaugural Dubai International Jockeys’ Challenge (DIJC) with senior riders representing the USA, Europe, Australia, Japan and UAE.

The Dubai World Cup is a Thoroughbred horse race held annually … world’s richest horse race, holding a record held by the Pegasus World Cup in 2017 and 2018.  Kingston has been selected as one of the sponsors of the Dubai World Cup 2018 – Elite Race.

A leader in the field of Mechanical, Electrical and Plumbing engineering and contracting with an experience of 45 years, Thermo L.L.C. offers comprehensive services as a single or multi-service engineering contractor for both small and large projects. Headquartered in Dubai, Thermo L.L.C. maintains offices in Abu Dhabi, Sharjah, Al Ain and Doha, Qatar.  With an established reputation for providing high quality services, Thermo L.L.C. depends on the integrity of their over 3000 staff to deliver professional excellence.

However, the second decade witness’s major construction disputes between Thermo and some of its clients… tough times call for tough measures… therefore, Thermo called on Kingston during July 2016 to fully manage its disputes over Abu Dhabi Shah Gas Non Process Buildings Package – 10, Abu Dhabi Khalifa City Data Centre – Phase II, Abu Dhabi Rocco Forte Hotel (Bridgeway Mixed Use Development), Abu Dhabi Financial District, Al Riyadh King Abdullah Financial District, Al Ta’af King Fahad Air Base, Jeddah King Abdullah Sports City including funding litigation/arbitration proceedings on 100% risks sharing, which turned into complete achievements for Thermo and Kingston.

Industry-ME is a digital source of media news, views and features devised to give its broadly business-based readership a flavour for all that is current in Middle Eastern industry and beyond.  With over three decades of experience working with the world’s biggest corporate names, Industry-ME goal is to share successful business insight with readers of large and small companies alike.

Kingston has been selected as main sponsor to the special editorial coverage which allocated for The Barakah Nuclear Energy Plant of Industry-ME issue 132, which is located in the Al Dhafra of the Emirate of Abu Dhabi on the Arabian Gulf, approximately 53 km west-southwest of the city of Ruwais. The Plant’s four APR1400 design nuclear reactors will supply up to 25% of the UAE’s electricity needs once fully operational.

The Blue Tower is a 72 floor (317 m) super tall skyscraper on Sheikh Zayed Road, Dubai. The construction started in 2006 and was completed in 2010. Designed by architect Al Hashemi, the building is residential, and it secondary usages are commercial. Blue tower is the second tallest residential building in Dubai, and fourth tallest residential building in the world with 454 residential apartments. Kingston have been awarded consultancy contracts by Dubai International Real Estate (DIRE) for the Blue Tower to prepare a “Rebutting Report” and “Counter Claim” against the contractor for a multimillion Dirham prolongation and extension of time claim.Later on 2013, Kingston represented DIRE throughout the entire arbitration, and led a team of Baker Botts, Navigant, Deloitt and JLL.

Kingston have been appointed by a UK educational Consortium, led by NESCOT to assist them in the preparation of their financial feasibility and formal bid submission for the operations and management of the 2,000 student Jeddah Female College in Saudi Arabia. Jeddah female college was built as part of a 200 college programme by TVTC and is capable of accommodating up to 2,000 students and specialises in IT, Business & Administration, Beauty, Jewellery and Fashion.Kingston built the financial model and full bid documents and worked with the consortium during the preferred bidder stage. The consortium was finally successful in their bid and Kingston are now working with them to rehabilitate the college, fit it out and to carry out operational management during the 5-year life cycle of the contract.