Latest news with #KfW
Reuters
2 days ago
- Business
- Reuters
Merz says Berlin still considering stake in TenneT's German business
BERLIN, July 21 (Reuters) - German Chancellor Friedrich Merz said on Monday the government had not yet decided whether it would take a stake in the German division of state-owned Dutch power grid operator TenneT and was still in talks with the Netherlands. The Netherlands said last month it would announce in September whether it would sell a minority stake in TenneT Germany or pursue a partial IPO, in what could be one of Europe's biggest deals in 2025. The Dutch government embarked on a dual track process for TenneT Germany after a partial sale to German state lender KfW failed to materialise last June. 'The discussion within the federal government is currently ongoing and has not yet been concluded,' Merz said in a joint news conference with Norwegian Prime Minister Jonas Gahr Store. Norway's vast sovereign wealth fund is considering a multi-billion dollar investment in TenneT Germany, German newspaper Handelsblatt wrote earlier this month, citing people familiar with the matter. Asked whether he would support this, Store said the fund had already made "significant" investments in German companies. "There are many opportunities in Germany to find companies to invest in", Store said.
Zawya
09-07-2025
- Business
- Zawya
New green steel project planned in Oman
MUSCAT: Singapore-based Meranti Green Steel (MGS), a leading player in low-carbon steel production in the Asia-Pacific region, has announced further progress in its plans to invest in a major green steel project at the Special Economic Zone at Duqm (SEZAD) in southeastern Oman. Project capacity details and investment figures have not yet been disclosed. However, the company announced in a post on Tuesday, July 8, 2025, that it has received a provisional commitment for the supply of natural gas for the project from the Omani authorities. 'Meranti Green Steel has received the conditional gas allocation from IGC in Oman. With the project site confirmed and raw material supply in place, the foundation for our green iron production in Duqm is now established,' Meranti commented in the post, referencing the Integrated Gas Company (IGC)—the sole aggregator and supplier of natural gas in the Sultanate of Oman. The company further noted: 'Discussions with a range of potential green hydrogen partners are underway, and we are engaging closely with our financing partners, including KfW IPEX.' The latter refers to the import-export financing arm of KfW IPEX-Bank, a major German-based financial institution. The announcement underscores Duqm's rising international profile as a prime destination for investment in so-called 'hard-to-abate' sectors, particularly steel and aluminium manufacturing—industries traditionally associated with high carbon emissions. With several large-scale green hydrogen projects set to be implemented near Duqm, the anticipated availability of green hydrogen as a clean energy source is boosting the zone's attractiveness as a hub for low-carbon heavy industry. Jindal Duqm Steel (formerly Vulcan Green Steel)—part of India's Jindal Group—is already advancing construction work on the first phase of a 5 million tonnes per annum (mtpa) hydrogen-enabled green steel plant in Duqm, with an estimated investment of around $3 billion. In addition, two other international consortiums have announced plans to establish low-carbon iron projects in Duqm. Kobe Steel, in partnership with Mitsui & Co, has signed a memorandum of understanding (MoU) with Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Port of Duqm Company to explore a low-carbon iron metallics facility in the SEZ. The project aims to produce 5 million tonnes annually of direct reduced iron (DRI), starting with natural gas and transitioning to hydrogen in the future. Similarly, Brazilian mining giant Vale has announced plans to invest in a Green Metallic Mega Hub in Duqm, intended to produce low-carbon DRI as feedstock for steel mills across the wider Middle East region. Meranti is concurrently developing an integrated green steel project in Rayong, Thailand, with a planned capacity of around 2.5 million tonnes per year. The facility, which integrates DRI, HBI (Hot Briquetted Iron), Electric Arc Furnace (EAF), and a Hot Strip Mill, will produce certified green Hot Rolled Coil (HRC) steel. Operations are scheduled to begin in late 2027 or early 2028. 'The (Oman) green iron project is central to our integrated green steel value chain. It will not only feed our low-emission steel plant in Thailand, but will also serve emerging HBI demand from European offtakers. With competitive access to gas and green hydrogen, we are confident that green iron from Oman can boost the competitiveness of European steelmakers and help secure jobs—not threaten them,' Meranti added in its post. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Local Germany
08-07-2025
- Business
- Local Germany
Where in Germany are the most startups being launched?
Significantly more start-ups are emerging in Germany, thanks largely to the artificial intelligence (AI) boom. According to an analysis by the Startup Association, 1,500 new startups were founded in the first half of the year – that's nine percent more than in the second half of 2024. Most of the startups were founded in Bavaria, North Rhine-Westphalia and Berlin, but the eastern state of Saxony also saw tremendous growth. Many of the new companies were focused in the software sector - including AI-supported automation services - and online retail. The Startup Association suggested that the number of new startups sent a strong signal of recovery after the sector's recent challenges. Where in Germany are startups booming? In absolute numbers, Bavaria ( with 343 new startups), North Rhine-Westphalia (281), and Berlin (248) top the list for new company formations in the first half of 2025. As a city, Berlin remains Germany's most prominent startup hub with around 500 new companies founded annually. However, when measured per capita, Munich narrowly leads with 13.5 new startups launched per 100,000 inhabitants in the past year. Startup founders in the Bavarian capital can take advantage of support from some leading incubators and accelerators such as UnternehmerTUM . Other university cities such as Heidelberg, Darmstadt and Aachen also saw a large number of new startups founded relative to their size, highlighting the growing importance of research-driven locations. Technology and science-based startups tend to crop up in Germany's university cities, whereas Berlin and Munich attract a broader mix of ventures, including in the creative industries and digital platforms. READ ALSO: Which German cities are best for digital nomads to live in? The 'best' universities in Germany for 2025 Interestingly, the eastern German state of Saxony has seen by far the highest year-on-year increase in startup launches, with a staggering growth rate of 71 percent. In comparison Bavaria saw a growth rate of 23 percent, and North Rhine-Westphalia had 16 percent. According to the Startup Association report, Saxony's surge can be attributed to targeted regional initiatives and improved support structures. Advertisement How has the industry developed? After a record year in 2021, startup formations dropped to less than 2,500 in 2023, largely as a result of economic uncertainty and higher interest rates. Then in 2024 a turnaround began. Venture capital investment in German startups has risen significantly over the last 18 months, reaching a total of €4 billion in just the first half of this year, according to Germany's economic development bank (KfW). The AI boom, renewed investor confidence, and public support programs including the Digital Hub Initiative have all contributed to the rebound. READ ALSO: What startups should know about Germany's new 'digital hub' cities The current startup wave is dominated by the software sector, which accounted for 368 new companies in the first half of 2025. The boom in AI is a key driver, with industrial solutions such as AI-supported automation growing by 29 percent. The B2C segment is also rebounding, particularly in food (up 44 percent) and e-commerce (up 14 percent).
Indian Express
02-07-2025
- General
- Indian Express
Tripura implementing 3 externally aided projects for forest protection: Minister Animesh Debbarma
The Tripura government is implementing three externally aided projects to ensure the protection of forests and the livelihood of forest dwellers, state Forest and Environment Minister Animesh Debbarma said on Tuesday. The first project was funded by the Government of Japan via Japan International Cooperation Agency, the second by the Federal Republic of Germany through the bank KfW, and the third was a World Bank-funded Rs 1,764.94 crore project, he added. 'The projects aimed to generate employment for youths and women through promotion of forest-based entrepreneurship,' Debbarma said, inaugurating the 76th state-level Vanmahotsava at the Behalabari School playground in Khowai district. Those who stay in hilly areas take only some resources from the forest, he said, adding that it was a section of traders who destroy forests and their resources for illegal trade. Referring to the latest Forest Survey of India (FSI), Debbarma said that forest areas in the state have reduced. He also urged people to plant at least one tree in the name of their parents, sister or any close relative, as part of the nationwide plantation campaign 'Ek Ped Maa Ke Naam' 2.0, to increase the forest areas in the state. Debbarma further said that he has requested Chief Minister Manik Saha to deploy a minimum of 400 Tripura State Rifles personnel to ensure the protection of forest resources. On July 5 last year, Saha had conducted a mass plantation drive across the state under the mission of '5 lakh saplings in 5 minutes' to hike the forest cover. Earlier, the forest department had distributed lakhs of saplings among people, including students, clubs, state and central security forces, etc.
Zawya
01-07-2025
- Business
- Zawya
African Development Bank to give South Africa $475mln loan
The African Development Bank will give South Africa a $474.6 million loan to upgrade its transport and energy infrastructure, the bank said on Tuesday, the second big infrastructure loan the country has been promised in weeks. The money adds to the $1.5 billion loan South Africa agreed with the World Bank last month for a similar purpose. For more than a decade Africa's most advanced economy has struggled to grow because of regular power blackouts, crumbling rail networks and chronically congested ports that have held back major industries such as mining and automaking. The African Development Bank said in a statement that its financing aimed to promote energy efficiency and rail reforms, among other things. It said its support was part of an international financing package for South Africa that also includes the World Bank loan, 500 million euros ($590.75 million) from German development bank KfW, up to $200 million from the Japan International Cooperation Agency and $150 million from the OPEC Fund for International Development. ($1 = 0.8464 euros) (Reporting by Sfundo Parakozov and Wendell Roelf; Editing by Alexander Winning and Alison Williams)
