Tag Archives: construction
Jean-Claude Van Damme to film new movie in Dubai
Parts of a new movie featuring Jean-Claude Van Damme are set to be filmed in the UAE, it has been confirmed. The Belgian actor – otherwise known as the “Muscles from Brussels” – will appear in Luxury Meets Justice, 7Days reports. Van Damme is currently in the Middle East looking for possible places to shoot scenes for the $10 million (£6.4 million) flick, although parts of the picture will also be captured in Shanghai, Ibiza, New York, Hong Kong and Saint Tropez. Fashion TV owner Michel Adam has known Van Damme for 30 years and suggested that his nightclub – Dubai-based Studio F – would be one location used in the film. He also offered an insight into what the movie is all about and – as you would expect from a Van Damme picture – there will be no shortage of action. “In the movie, we’re trying to get rid of all the bankers who pretend they’re big shots and destroy all our money. We don’t need these guys around,” Mr Adam was quoted as saying. He stated that Dubai has a lot of wealthy people who hold high-powered jobs, so it makes sense for the emirate to feature heavily throughout the movie. Filming is expected to start in October and a premiere will be held in spring 2014. Van Damme has had a glittering career on both sides of the camera and Dubai tourism chiefs will no doubt be delighted to welcome the star to the city. The 52-year-old is a martial arts specialist and this has helped him land a number of memorable roles over the years. His first appearance on screen came in the 1984 flick Monaco Forever and he has since gone on to star in hit films including Double Impact and Universal Soldier. Dubai already has a reputation for being a playground for the rich and famous and films like Luxury Meets Justice will certainly help to raise its profile even further. Continue reading
Estover Toasts Sandwich Biomass Plant
£65m combined heat and power plant at Local Enterprise Zone in Kent could start construction next year By Jessica Shankleman 28 May 2013 Renewable power developer Estover Energy has taken a major step forward with plans to build a £65m combined heat and power plant in Kent, powered by biomass. The company announced last week that it would shortly apply to Dover District Council to build the CHP plant at the Discovery science and technology park in Sandwich, from which it will be able to supply 11MW of electricity and 8MW of heat. The Discovery Park is a former Pfizer research site that also used to operate a CHP plant. Estover hopes to be able to plug its new plant into the existing infrastructure to provide heat and power to the other businesses on the site via a power purchase agreement, as well as supply power to the National Grid. As the Park is also within an Local Enterprise Zone, it benefits from simplified planning regulations and improved infrastructure, designed to help boost development. If consent is secured, Estover aims to start construction in 2014, potentially bringing £80m into the local economy, while helping to create a stable market for low-grade wood in the area. Estover said the plant would use locally source low-grade wood fuel to generate power for both the park and to feed into the National Grid. “We believe that using the by-product from woodland management and harvesting to generate energy is a positive alternative to fossil fuels, and one that is supported by government and many environmental and rural campaigning groups,” said Andrew Troup, development director of Estover Energy. “Low-grade wood fuel is clean, has low emissions and is good for the local area, both providing rural jobs, and stimulating investment in local woodland and forestry.” The plans were also welcomed by Communities and Local Government Secretary of State Eric Pickles, as the plant would be based in an Enterprise Zone. “I’m delighted that Estover Energy is taking advantage of these changes. Their ambitious plan for a new £65m biomass plant at Discovery Park will boost employment and growth in Kent,” he said. Continue reading
Column: Housing Rebound Boosts Timber Stocks
By John Wasik CHICAGO | Mon Jun 3, 2013 4:42pm EDT (Reuters) – If a tree falls in the forest, can you make a little money? As the U.S. housing rebound continues, you can watch the value of your real estate rise. In addition you can reap gains from resource companies that own and process timber. Since most U.S. homes are still framed with wood, timber becomes a more valuable commodity as new construction booms. Home prices gained the most in seven years in March, according to a recent S&P Case-Shiller housing index report. Housing starts in April rose 16 percent over the previous month with new building permits up 14 percent, according to the U.S. Census Bureau. North American sawmills are running at the fastest pace in six years, up nearly 7 percent over last year, according to CIBC World Markets , a Canada-based investment bank. Growth in China is also contributing to the rebound. More than 60 percent of log exports from the Pacific Northwest head to the People’s Republic. Timber is also becoming more scarce as forests shrink. As a commodity, it provides an inflation hedge, too; the S&P Global Timber & Forestry index has produced an annualized return of nearly 7 percent over the past three years through April 30. The current Consumer Price Index is running at an average 1 percent. Why invest in timber and related resource companies instead of the obvious play in homebuilder stocks ? Those companies have been rallying for more than a year and are pricey. The SPDR S&P Homebuilders ETF, for example, a fund that holds most of the major home-construction companies, is up more than 50 percent over the past year through Friday, almost double the price of a consumer cyclical index. That portfolio’s price- earnings ratio – what investors are willing to pay for a dollar of expected earnings – is 20, compared to 14.4, for the SP 500. The underlying S&P index for the timber sector has climbed more than 31 percent over the past year through May 31 compared to a nearly 50-percent gain for the S&P Homebuilders Index. The iShares Global Timber and Forestry Index ETF (WOOD), has p/e of 18; that’s not a bargain price either, but timber stocks are a better value now relative to homebuilding stocks and may have more upside. REGIONAL VIEW Most timber companies specialize in specific regions where they own or lease properties. But to obtain global diversification, it’s best to consider one of two exchange-traded funds on the market that hold timber, packaging and real estate investment trusts (REITs) that own lumber resources. The Guggenheim Timber ETF, holds major producers like Weyerhaeuser Co and International Paper Co. It tracks the Beacon Global Timber Index, which holds companies that own or lease forested land or produce wood-based products. More than 40 percent of the companies are based in greater Europe or Asia. It’s up 8 percent year to date through May 31 and gained 25 percent last year. As an alternative, the iShares timber ETF mentioned above has more than 60 percent of its holdings in the Americas, including Plum Creek Timber Company Inc and Potlatch Corp . The iShares fund is a better deal on expenses than the Guggenheim product, charging 0.48 percent annually for management, compared to 0.70 percent for the Guggenheim fund. It’s gained 4 percent year to date and 23 percent last year. Of the two ETFs, the iShares fund offers more total international exposure, including 13 percent stakes in Brazilian companies and 11 percent in Japan , says Eric Dutram, ETF analyst at Zacks Investment Research in Chicago. Either way, the two funds are reasonably priced, he said. Many timber companies give you a bonus if they’re vertically integrated. They could mean they are producing value-added products like rayon, packaging or paper, which also would benefit from a broad economic recovery. These companies may also own or lease land that may result in other mineral plays such as petroleum or natural gas . Keep in mind that timber trends can cut the other way. As funds specializing in a handful of commodities that rise and fall directly with economic demand, these ETFs are not for nervous investors. Guggenenheim Timber lost nearly half its value in 2008 and has a 32-percent five-year standard deviation, a volatility gauge. That compares to 20 percent for a world natural resources stock index. If the housing market goes south again, then these ETFs will suffer. Consider them only as small parts of a larger portfolio and not large holdings. (The author is a Reuters columnist and the opinions expressed are his own. For more from John Wasik see link.reuters.com/syk97s ) (Follow us @ReutersMoney or here Editing by Linda Stern and Andrew Hay) Continue reading
