Tunis Financial Harbour invites contractor offers

Tunisian government allocates $33m for infrastructure work around TFH

One of new Tunisian Prime Minister Hamadi Jebali's first acts in charge has been to approve funds for work around the TFH project
One of new Tunisian Prime Minister Hamadi Jebali's first acts in charge has been to approve funds for work around the TFH project

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The prequalification process for prospective contractors for the Tunis Financial Harbour (TFH) has begun.

The Tunisian government recently allocated some $33m for the completion of infrastructure works and roads access to TFH.

Prequalification process for the project will be overseen by the Bahrain-based Islamic investment bank Gulf Finance House BSC (GFH).

TFH, set to be built in the set to be built in the Rawad area of Tunis, is going to be North Africa’s first offshore financial centre.

“Though this project has been somewhat delayed from the original project schedule, the wheels are once again moving on TFH and we are fully geared up to commence tendering for the project’s infrastructure work as soon as the Tunisian Government gives us the go-ahead,” said Hisham Alrayes, Chief Investment Officer of GFH.

“We are currently also looking at partnerships with reputable institutions and developers to develop the project’s clusters and accelerate our client’s investments.

“We are also looking at further injections of investments into the project.

“GFH is committed to seeing through the infrastructure projects launched prior to the global financial crisis by fine tuning their models to be compatible and cope with the new market conditions, and TFH is the perfect example of this.”

Including the commercial aspects of the TFH project, a variety of residential and leisure facilities such as a marina, a residential complex with villas and an 18-hole championship golf course are included in the master plan.

“This is a very exciting time for us, as we are now preparing to lay down the necessary infrastructure for TFH, a project that is likely to be a huge magnet for investment, both from within and from outside the country,” said Imad Nesnas, Managing Director of TFH.

“This landmark project will add to the positive forecasts of a growth potential of 4.5% in 2012 for Tunisia, and will definitely contribute to boosting the country’s economy in the long term.

“Once approval for the infrastructure design is given, infrastructure work on TFH will commence immediately.

“It is also an exciting time for Tunisia as a country, and I would like to extend our warm congratulations to the newly elected Tunisian Government on their appointment, as well as offer our sincere thanks for the invaluable support we have received since first signing the TFH agreement.

“The new government is looking to pursue liberal, business-friendly economic policies, which will only benefit TFH specifically, and the economy in general, in the long run.”

The newly elected Tunisian government hope the project will significantly contribute to transforming the region’s economy.

They hope it will turn the country into a financial hub, attracting large investments and fresh job opportunities.

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