Connect with us

Business

All-New Citroën C3 Aircross: The Most Affordable and Comfortable Multi-Energies Compact SUV, Available With 7 Seats

Published

on

Citroën

It is the first B-SUV on the European market to be offered at a price of less than €30,000 in its 100% electric version, and less than €20,000 in its PureTech turbo 100 MT6 internal combustion version

POISSY, France, July 8, 2024/APO Group/ — 

A brand-new model in the compact SUV segment: this stylish, smart, functional and affordable proposition will appeal to families and everyone with an active lifestyle; The C3 Aircross has been completely reinvented: new technical platform, robust and assertive SUV style, plus Citroën’s (www.Citroen.com) new styling language; Enhanced onboard comfort; Citroën Advanced Comfort suspension, C-Zen Lounge architecture with Head-Up Display incorporating latest generation infotainment and connectivity systems, plus everything else you expect from this category; Longer body; at 4.39m, it offers both driving comfort and a generously proportioned passenger space. Already a benchmark for space in row 2 in its 5-seat version, C3 Aircross now offers up to 7 seats – a first in this segment!; A vehicle to suit every need: the all-new C3 Aircross offers a practical hybrid 136 version for the first time, alongside a virtuous all-electric version (on the 5-seater versions) and an accessible petrol version; Available in France from 19 400€ in Petrol, 25 500€ in Hybrid and 27 400€ in Electric, orders of All-new C3 Aircross are opening progressively on different European markets.

In a radical shift to the way it approaches the compact SUV market, Citroën has completely reinvented the C3 Aircross. In its European variant, this brand-new model shares the Smart Car platform with the recent C3, enabling it to be positioned at a very attractive price; other common features include the new brand identity and the same formal language, both inside and out. A genuine SUV, it offers protection, robustness, easy access and a feeling of safety, along with assertive, muscular and modern styling. The all-new C3’s stature and dimensions have changed along with its new positioning. At 4.39 metres in length, the 5-seater version offers the best interior space in its segment in row 2. Alongside it, Citroën is also offering a brand new 7- seater, a first for the segment: designed with the same proportions, it offers unrivalled flexibility of use while remaining compact and manoeuvrable.

Spacious and well-equipped, the all-new C3 Aircross offers easy and comfortable daily driving, both in town and on the road. Citroën is always attentive to customer expectations in terms of comfort, roominess and practicality. So the all-new C3 Aircross features the C-Zen-Lounge® concept with Head-Up Display and a reduced-size steering wheel, and new Citroën Advanced Comfort® seats redesigned for optimum support. Ride comfort is enhanced thanks to the adoption of the Citroën Advanced Comfort® suspension with dual progressive hydraulic bump stops – for the first time and on all versions. And for greater peace of mind, the C3 Aircross offers all the driving assistance technologies you would expect in this segment, along with a latest-generation infotainment system incorporating a 10.25-inch touch screen.

Alongside a petrol engine, the all-new C3 Aircross will be electrified in two ways: a 136 bhp Hybrid 48V powertrain, and a full electric version. With a range of more than 300 km (certification pending), the electric version makes everyday life much easier: it can recharge from 20% to 80% in just 26 minutes, and uses the ë-ROUTES application – a journey planner that adapts to changes on the road in real time. A version with a range of over 400km will be available in 2025.

After reinventing the C3, Citroën is back with the all-new C3 Aircross: a family SUV concept that is perfect for active people looking for modularity and robustness. It will be produced in Europe at the Trnava plant. Now available to order, C3 Aircross makes electric mobility affordable from €27 400, and gives access to electrification from €25 500 with the Hybrid 136 version. In traditional petrol, it is available from 19 400€.

1- A FAMILY SUV WITH POWERFUL & ROBUST DESIGN

At 4.39m long, the all-new C3 Aircross combines new proportions with a new attitude. Its exterior design expresses SUV-style strength and power. The new attitude is more assertive, more muscular and more robust – with more upright styling and sharper angles. The all-new C3 Aircross applies Citroën’s new formal language to the SUV.

“From the beginning of the project, we wanted to reinforce the C3 Aircross’s position in the world of SUVs. We opted for a robust and assertive design, with styling that adds muscle and strength. With over 20 cm of ground clearance, a raised driving position and subtle plays of light in its design, the all-new C3 Aircross takes the next step and becomes a real SUV.” Boris Reinmoller, C3 Aircross design project manager.

Reinterpreting Citroën’s new visual identity

With an assertive, graphic design underpinned by wide fascias, the all-new C3 Aircross is all SUV. The front fascias feature vertical colour-clips that customers can change at will. The front-end design incorporates the new logo unveiled on the Oli concept car in 2021, and recently adopted by the ë-C3 and C3 saloons. The headlamp design references the new three-point light signature inaugurated on the Oli. The SUV feel comes through loud and clear on the high, horizontal bonnet and the front’s vertical lines. With a width of 1.79 metres, the design brings muscle and strength to the front wings, which cover the large 690 mm wheels. The wheel arch guards are inspired by the square-round design concept introduced on the ë-C3 and C3 saloons. Subtle edge lines liven up the sides of the car.

Side on, those SUV genes translate into perfect balance. A straight roof and height of 1.66 m provide generous onboard space for all passengers. Over 200 mm of ground clearance offer greater protection and easy access, along with a higher and safer driving position. The long rear window – with no deflector – supplies plenty of light on board, and the rear fascia features a customisable colour-clip, echoing the one on the bumper. The rear wing reproducess the muscular feel of the front, and introduces the signature rear lights. The lights continue the styling theme inaugurated on the Oli concept and the ë-C3 and C3 saloons, while the rear quarter panel reinforces the C3 Aircross’s robust appearance. The biton finish – available as standard on the Max level in white or black – makes customisation easy; the continuity between the third side window and the tailgate reinforces the independence of the roof. Incorporating the same black band and new logo as the front of the car, the wide tailgate features a cutaway design with a low load sill, for easy access to the boot.

“The all-new C3 Aircross is more mature and its proportions are those of a true SUV, with a very horizontal bonnet and a very pronounced vertical front end. The proportions are balanced, with perfect control of the overhangs and a silhouette that demonstrates its strength. We have played with rich sections and – above all – we have avoided designing a soulless, enhanced estate car. The design seems to have been executed with a single stroke, and is very consistent,” said Boris Reinmoller.

2- A SPACIOUS COMPACT SUV THAT CAN SEAT UP TO 7

New dimensions for more space and practicality

Just 4.39 m long, the C3 Aircross handles like a dream. The wheelbase of 2.67 m offers maximum space on board: the 5-seater version delivers record space in row 2 and a 460-litre boot. For customers looking for even greater versatility, the C3 Aircross is also available in a super functional 7-seater version.

The all-new C3 Aircross is available in 5 and 7 seat versions, with identical body shapes and exterior dimensions, allowing customers to choose the version that matches their needs and desires. The 2.67 m wheelbase – the most generous in the category – allows for unprecedented rear door length, providing excellent access to row 2 for the 5-seater version and row 3 for the 7-seater version.

“The new Citroën C3 Aircross was designed to be compatible with seven people on board. And when you design a silhouette that’s spacious enough for seven, you inevitably propel the 5-seater version to the top of the category in terms of row 2 space and boot volume”.

Thierry Blanchard, C3 Aircross Product Project Manager.

The 7-seater version: clever and versatile

Citroën is offering an unprecedented 7-seater version of the all-new C3 Aircross. The design of the rear quarter panel creates a dynamic, vertical stern, providing ample space for the third-row passengers. A large rear door and the easy-tilt seat backs in row 2 (40/60) facilitate access to this third row, which features two comfortable and retractable extra seats. Available whenever necessary, they consist of a seat and two backrests that can be folded 50/50, providing a flat load surface when not deployed.

In its 7-seat version, the C3 Aircross offers the same knee-to-knee length in row 2 as the C3 saloon, elbow width that is 25 mm wider than the category average, and generous headroom. The third-row space is equipped to the same standard as the other seats, with headrests, armrests, cupholders, a USB socket, a footwell and air conditioning. The new 7-seat version of the C3 Aircross perfectly balances a compact exterior with interior space. With 93% of European B-SUV owners driving less than 80 km a day, the 7-seater version’s two rear seats are a perfect solution. With all seats deployed, the boot volume is 40 litres, and 330 litres in the 5-seat configuration.

The 5-seater version: segment-leading interior space

The 5-seater version of the C3 Aircross has a 40/60 bench seat that is 65 mm further back than on the 7-seater version. The result is very generous space in row 2, with the best knee room in the category (+80 mm compared with the segment average). The three occupants of the bench seat also enjoy the best elbow room on the market (+25 mm compared with the segment average). The bench’s 65 mm recline doesn’t detract from the 460 litres of boot space, one of the best in the segment.

Easy to access – with a low, square threshold – the boot also has a two-position floor, providing a completely flat load surface when the backrests of the 40/60 rear seat are folded. In this configuration, it offers an impressive 1600 litres of volume. With no shortage of tricks up its sleeve, the C3 Aircross has the flexibility to make daily life easier for all the family. Practical, versatile and reassuring, it remains compact enough to make city driving stress free.

3- AN AFFORDABLE MULTI-ENERGY RANGE

In line with Citroën’s focus on accessible, people-centric solutions, its new compact SUV offers a range of different energies at an ultra-competitive price. The all-new C3 Aircross is based on the Smart Car platform, designed to accommodate a range of internal combustion, hybrid and electric vehicles. This new vehicle demonstrates Citroën’s commitment to integrating the challenges of the energy transition into all its product developments. Alongside a traditional internal combustion engine, the C3 Aircross offers a hybrid range for the first time: facilitating access to electrification, its versatility is perfectly suited to this body type. And to take things even further, the all-new C3 Aircross will be available for the first time as a 100% electric vehicle.

The hybrid: a petrol engine with access to electrification

The all-new C3 Aircross showcases a new powertrain, with its Hybrid 136 version equipped with an e-DCT automatic gearbox. The 48V hybrid uses the new-generation 1.2 PureTech engine developed specifically for hybrid applications, featuring 40% all-new components. With a displacement of 1,199 cm3, this 3-cylinder engine develops 100 kW/136 bhp. It has a variable geometry turbocharger and a timing chain that contributes to its robustness.

The Miller-cycle engine is combined with an e-CDT electrified dual-clutch automatic transmission, incorporating a 21 kW/28 bhp electric motor powered by a 48 V lithium-ion battery housed under the floor.

The powertrain is easy to use and requires no recharging. Ideal for families, it reduces both fuel consumption and emissions, making it good for the wallet and the planet too. The e-motor (permanent magnet synchronous machine) assists the internal combustion engine to reduce fuel consumption in a transparent way, allowing 100% electric driving for almost 50% of urban use and recharging the battery during deceleration. This new transmission is produced in France and offers the best optimisation in terms of compaction and cost. As a result, the C02 emissions of the hybrid version have been reduced to just 124g CO2/km (waiting for certification). This new driving experience will be available to the widest possible audience in both the 5- and 7-seat versions.

Alongside this electrified powertrain, Citroën is deploying the C3 Aircross with a 75 kW/100 bhp turbo petrol powertrain. This 3-cylinder PureTech Turbo 100 MT6 engine is coupled with a six-speed manual transmission, and complies with Euro7 standards. This version will be available at the most competitive price on the market.

Citroën’s first all-electric compact SUV

For the first time in the family B-SUV segment, Citroën is offering an electric version of its 5-seater C3 Aircross. Perfectly suited to the driving habits of customers in this segment, the electric version is powered by an 83 kW/113 bhp engine combined with a 44 kWh LFP (Lithium Iron Phosphate) battery. This technology offers the perfect compromise between the performance required (range of more than 300km – approval pending) and a highly affordable price. Its engine and fully automatic transmission offer linear acceleration with immediately available torque, and a top speed of 145 km/h. The 100% electric version of the C3 Aircross offers sufficient performance to slot into everyday traffic with ease.

The all-electric C3 Aircross makes life easier for its users, particularly when it comes to recharging. The Mode 3 cable – supplied as standard – enables charging both at home and in public places:

With over 20 cm of ground clearance, a raised driving position and subtle plays of light in its design, the all-new C3 Aircross takes the next step and becomes a real SUV.

  • Standard AC charging from 20% to 80% of the battery takes around 4 hours 10 minutes using 7 kW of power.
  • Standard AC charging from 20% to 80% of the battery takes around 2 hours 50 minutes using 11 kW of power.

Fast charging is also available with DC 100 kW chargers, taking just 26 minutes to go from 20% to 80% charge. A version equipped with a different battery will be offered in 2025, extending the range to over 400km.

The all-electric C3 Aircross fully addresses the concerns of motorists still worried about the switch to all-electricity. The new e-ROUTES application – developed for Citroën electric vehicles – makes it easy to plan your journeys, monitor battery charge levels in real time, and enjoy a complete navigation experience. The app helps to reduce journey times, and pinpoints the best recharging stops. Constantly connected to the vehicle’s data (in particular the charge level of the batteries), the traffic situation and the status of the recharging points along the selected route, it ensures the most efficient route management

4- COMFORT AND PEACE OF MIND

Full of space and light, the C3 Aircross offers all the features of a living room on wheels. Its raised driving position and high ground clearance make it easier to get in and out, while providing a clearer view of the road ahead. The feeling of comfort is paramount, delivered by the exclusive Citroën Advanced Comfort® suspension, the C-Zen Lounge concept – which combines a reassuring dashboard with the new head-up vision system – and Citroën Advanced Comfort® seats.

Citroën Advanced Comfort® suspension and seats

The all-new C3 Aircross has been designed to provide the best compromise between comfort and enjoyment, whether one or 7 people are on board. To achieve that result, Citroën’s exclusive Advanced Comfort® suspension is standard on all versions. This innovative, patented design guarantees a unique feeling of comfort for the vehicle’s occupants, whatever the road conditions.

Citroën Advanced Comfort® suspension rethinks the two basic functions of a suspension system: ensuring optimum contact between the wheels and the road surface, and defining a perfect level of comfort for the passengers. A conventional suspension – now abandoned by Citroën – uses a spring and hydraulic damper to manage these two functions. The spring absorbs bumps in the road, while the shock absorber supports the spring in its relaxation phase after an impact: a stop at the top of the shock absorber absorbs the compression of the spring over its last few centimetres. This stop protects the vehicle’s mechanical components but does not totally dissipate the energy, adversely affecting passenger comfort.

Citroën’s engineers have completely rethought this architecture, creating a patented system of progressive hydraulic bumpers. These act like a second smaller shock absorber, housed at the ends of the main shock absorber. There are two progressive stops per shock absorber, one for compression and the other for rebound. This suspension construction ensures greater suppleness and comfort on minor irregularities, without compromising the damping required to hold the body in place when driving on a rough road. In the latter case, the system gradually slows down the movement at the end of the travel. Unlike a mechanical stop in a conventional shock absorber – which absorbs energy and reduces comfort by releasing some of it in the form of a shock – the progressive hydraulic stop absorbs and dissipates this energy. The “magic carpet” effect so important to Citroën is felt clearly, enhancing the driving experience on board the C3 Aircross.

The all-new C3 Aircross also features new Advanced Comfort® seats. Equipped with a new seat surface that includes an extra 10 to 15 mm of foam, they feature redesigned lateral support to ensure comfort whatever the distance.

C-Zen Lounge: a new architecture for increased peace of mind.

The C3 Aircross inherits the work carried out on the new ë-C3 and C3 saloons. The Citroën C-Zen Lounge’s modern, spacious and well-equipped cabin is here taken to its logical conclusion, with new materials and colours.

The horizontal dashboard – complete with characteristic Citroën vertical air vents – is divided into two levels: technical elements on top and comfort at the bottom. Known as the Sofa Design, this area is covered in a special fabric and embellished at both ends with new zones of warm light, adding to the feeling of well-being. In the upper section, the absence of a handset clears the view, for driving comfort and enhanced safety. Essential driving information is cleverly projected onto a head-up display. The small multifunction steering wheel, adjustable for height and angle, is easy to handle. The information display at the junction between the dashboard and the bottom of the windscreen is a first for a family SUV. This innovative feature eliminates the need for a dual display, giving the driver all the information they need without taking their eyes off the road.

5- A CONNECTED, WELL-EQUIPPED FAMILY SUV

Whatever energy source you choose, the C3 Aircross breaks new ground with its combination of design, space, on-board comfort and equipment – all at an ultra-competitive price.

A connected SUV.

The all-new C3 Aircross offers infotainment system and all the connectivity you expect from this type of vehicle.

The You version of the all-new C3 Aircross features the Smartphone Station, which includes an integrated smartphone holder. The driver can then automatically launch the dedicated application using NFC wireless technology. Thanks to the Smartphone Station, drivers can access shortcuts to services on their smartphone, controlled using voice recognition. They can also access the radio, playlists and navigation. The steering wheel controls on the C3 Aircross enable drivers to keep their hands on the wheel, and the Home button makes it easy to return to the application’s home page.

The Max versions of the C3 Aircross feature a 10.25-inch colour infotainment screen, oriented slightly towards the driver. It uses a widget architecture inspired by smartphones. Virtual shortcuts provide access to the main navigation, telephone, radio, application and media functions. A wireless WiFi function enables smartphone mirroring and compatibility with Apple CarPlay and Android Auto. On-board comfort is also enhanced by the presence of two USB-C sockets at the front and two more in row 2. A 15W charging mat is integrated into a dedicated storage space in the centre console.

Making everyday life easier and safer

The driving aid technology does not only improve the comfort and safety of the driver. Everybody onboard gets the benefits, along with pedestrians too.

Active Safety Brake: This is an emergency braking system that helps reduce injuries to passengers, pedestrians and cyclists. It operates day and night, from a speed of 5 km/h up to the C3 Aircross’s top speed of 135 km/h.

Active Lane Keeping Assist: this lane-keeping assistance system helps the driver to maintain the correct distance from the lane markings. It is active from 60 km/h. When the car starts to drift out of its lane, this mode automatically takes corrective action.

Driver Alert: this system detects oscillations on the C3 Aircross, anticipating drowsiness on the part of the driver. Once detected, it emits a visual and audible warning. If the situation persists, the system emits a longer audible warning and maintains the visual warning for 10 seconds.

Speed sign recognition: this speed limit information system reads the signs and displays the speed in the driver’s field of vision, on the HUD display at the base of the windscreen. The driver is thus informed if a new speed limit is detected, or if he or she is exceeding the speed limit. This intelligent system also uses the speed limit data contained in the navigation system. The audible warnings can be activated or deactivated via the dashboard.

High beam assistance: with Intelligent Headlights, the windscreen camera switches the headlights to low beam when it detects an oncoming vehicle. As soon as the vehicle has passed, the high beam is restored.

Front and rear parking sensors: the front and rear park-assist sensors collect data during manoeuvres and warn the driver of approaching obstacles, using an audible warning and visual indications. The rear parking sensors are active as soon as reverse gear is engaged.

Blind spot detection: it uses an illuminated pictogram in the rear-view mirrors to indicate the presence of a vehicle in the blind spot. The system works on the same principle as parking sensors genuinely adds to safety. It is active from 30 km/h.

Reversing camera: when reverse gear is engaged, the camera on the base of the tailgate supplies a view to the rear of the vehicle on the main screen. This view features grids of different colours to help the driver identify the distance between obstacles and the vehicle, and warn of possible collisions.

All-Electric for under €30,000, petrol for under €20,000

Following the launch of the ë-C3 and C3, Citroën is continuing its mission to make electric mobility accessible to as many people as possible. Thanks to the European version of the new international “Smart Car” platform – designed from the outset to accommodate 100% electric, internal combustion and hybrid engines – and its extreme modularity, the dimensions of the C3 Aircross have been revised upwards for greater habitability and functionality, with no impact on its selling price. It is the first B-SUV on the European market to be offered at a price of less than €30,000 in its 100% electric version, and less than €20,000 in its PureTech turbo 100 MT6 internal combustion version.

Range: tailor-made for everyone

The all-new C3 Aircross range is embodied in two silhouettes that are identical in their design and dimensions: a 5-seater available in petrol, hybrid, and electric, and a 7-seater available in petrol and hybrid. The C3 Aircross benefits from a palette of six strong shades: Black Perla Nera, Mercury Grey, Elixir Red, Monte Carlo Blue, Polar White and Montana Green, paired with the two available roof colours – white and black. It can be personalised using colour clips in three different colours, each coordinated with the body colour. Citroën will offer additional colour clips as accessories, in the form of kits of 4 pieces, for more extensive customisation.

The streamlining of the all-new C3 Aircross range goes hand in hand with rich equipment at the first trim level, You. This comes standard with Citroën Advanced Comfort® suspension, 6 airbags, manual air conditioning, Smartphone station, active safety braking, active lane departure warning system, driver attention alert, cruise control with speed limiter, recognition of speed limit signs, rear parking sensors, automatic lighting, height adjustment for the driver’s seat, electric front windows, 40/60 folding rear seat, LED headlights and daytime running lights, and 16” wheels.

The second level, MAX, additionally offers 17’’ Aragonite Diamond Cut alloy wheels, 3D LED rear lights, a white or black tinted roof depending on the body colour, 3D navigation, wireless smartphone charging, exterior mirrors with blind-spot detection, front parking sensors, electrochrome interior mirror, and access to the 7-seater version with the Mild Hybrid 136 eDCT engine.

Distributed by APO Group on behalf of Citroen.

Business

African Energy Week (AEW) 2024 to Navigate the Future of Oil & Gas Financing Amid Energy Transition

Published

on

Kinetiko Energy

The African Energy Week: Invest in African Energy conference will gather industry leaders to explore oil and gas financing tools and strategies in the age of the energy transition

CAPE TOWN, South Africa, September 9, 2024/APO Group/ — 

As the global energy landscape shifts towards cleaner and more sustainable sources, Africa’s oil and gas sector faces challenges in securing financing for upstream projects. Nearly $3 billion was mobilized toward African energy projects in 2023 – with a significant portion directed towards natural gas – according to the African Development Bank (AfDB). As global markets evolve, African financing strategies must adapt to support both economic growth and long-term sustainability.

The Financing Upstream Oil & Gas in the Age of Transition session at African Energy Week (AEW): Invest in African Energy will explore how African oil and gas projects are securing financing in a rapidly changing landscape. The session will unpack evolving regulatory frameworks, innovative financing models and the balance between traditional fossil fuel and renewable energy investments. Moderated by Laura Sima, Director of S&P Global Commodity Insights, the panel will feature Trafigura Group Head of Upstream Finance Matthieu Milandri; Africa Finance Corporation Vice President Taiwo Okwor; and Project & Export Finance Africa Managing Director & Regional Head Fathima Hussain.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

To address shifting investment priorities, a dedicated Africa Energy Bank (AEB) has been launched by the African Petroleum Producers Organization and African Export-Import Bank. To be based in Abuja, the AEB aims to bridge Africa’s infrastructure funding gap and accelerate the development of energy projects across the continent. As a supranational institution, the AEB will provide critical funds for emerging oil and gas projects across Africa, supporting the sector amid the global energy transition, and is currently open for signature by prospective member states.

African natural gas projects have been a leading destination for foreign investment, as gas is considered a cleaner alternative and even labeled as “green energy” in the EU. Projects like Senegal and Mauritania’s Greater Tortue Ahmeyim LNG – led by bp and Kosmos Energy – have secured $4.8 billion in investment from a mix of equity from the IOCs and debt financing supported by multilateral banks. Blended finance – combining both public and private sector capital – has emerged as a critical solution to mobilizing large-scale financing in Africa’s energy sector. The TotalEnergies-led Mozambique LNG project represents a total post-FID investment of $20 billion, of which $14.9 billion comes from senior debt financing including a blend of loans from export credit agencies, multilateral finance agencies like the International Finance Corporation and the AfDB, and commercial banks.

Significant capital is also flowing to high-potential hydrocarbon basins with strong exploration prospects. In Namibia, multinationals TotalEnergies and Shell are continuing to explore the deepwater Orange Basin, with TotalEnergies allocating 30% of its one-billion-dollar exploration budget to the country in 2024 alone. Namibia’s government has been active in courting global financiers, emphasizing the need for sustainable energy development alongside oil and gas exploration and production. In Angola, TotalEnergies, Petronas and state-owned Sonangol secured a $6-billion FID for the Kaminho deepwater project in Block 20 that will develop the Cameia and Golfinho ultra-deepwater fields. The project will employ an all-electric FPSO unit, designed to minimize greenhouse gas emissions and eliminate routine flaring. Independent upstream company Invictus Energy also recently secured $10 million from local institutional investors for its Cabora Bassa project in Zimbabwe to develop the country’s first major oil and gas field.

The upcoming finance session will also position public-private partnerships as a mechanism for financing large-scale energy infrastructure projects, as well as de-risking investments. The Republic of Congo has advanced the development of its Banga Kayo block through an amended PSC with China’s Wing Wah Oil Company, enabling the commercialization of the block’s gas resources. In Nigeria, the $2.6-billion Ajaokuta–Kaduna–Kano gas pipeline is being financed through both public and private funds, with the Nigerian National Petroleum Company as the main financier and international lenders including the Industrial and Commercial Bank of China and Bank of China involved. Nigeria’s Federal Government has provided a sovereign guarantee covering 85% of the project’s costs, securing crucial financing and building investor confidence.

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Business

The Islamic Development Bank Institute (IsDBI) Completes Pilot Implementation of Islamic Finance Strategic Mapping Framework in Kazakhstan

Published

on

IsDBI

This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector

ASTANA, Kazakhstan, September 8, 2024/APO Group/ — 

The Islamic Development Bank Institute (IsDBI) (https://ISDBInstitute.org/) is pleased to announce the successful completion of its flagship Islamic Finance Strategic Mapping Framework (IF-MAP, formerly IF-CAF) (https://apo-opa.co/4cXPwti) pilot exercise in the Republic of Kazakhstan. This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector.

The pilot initiative of IF-MAP was launched (https://apo-opa.co/3MyooGO) in June 2023, and involved extensive consultations with key stakeholders, including government agencies, financial institutions, and industry experts. The resulting tailored policy recommendations report, which outlines the sector’s progress and provides recommendations for future development, has been submitted to the AIFC.

AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors

As one of the key outcomes of the exercise, IsDBI and AIFC jointly developed the Kazakhstan Islamic Finance Country Report 2024 (https://apo-opa.co/3B4GwFv) which H.E. the Governor of AIFC, H.E. Mr. Renat Bekturov, launched on 6 September during the Astana Finance Days. The report highlights the immense potential of Islamic finance in supporting Kazakhstan’s economic growth and development.

In his welcome address, H.E. Mr. Renat Bekturov noted: “This report not only provides a comprehensive overview of the Islamic finance industry but also highlights our shared vision for the future.  AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors. The report is an invaluable guide for investors, policymakers, and stakeholders.”

Commenting on the successful completion of the pilot exercise, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, stated, “We are delighted to have collaborated with the AIFC on this important initiative. The Kazakhstan Islamic Finance Country Report offers a valuable analysis of the sector’s current state and future prospects. We believe that the report, together with the IF-MAP policy recommendations submitted to the AIFC, will be instrumental in guiding policymakers, investors, and financial institutions as they work to harness the full potential of Islamic finance in Kazakhstan.”

The IsDB Institute remains committed to supporting the growth and development of the Islamic finance industry worldwide. Through its research, training, and capacity-building programs, the Institute seeks to contribute to the creation of a more inclusive and sustainable financial system.

The Kazakhstan Islamic Finance Country Report 2024 is accessible on IsDBI website here: https://apo-opa.co/4ge7jQ1

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

Business

ST Telemedia Global Data Centres Reinforces Commitment to Digital India, Invests US$3.2 billion to add 550MW Data Centre Capacity

Published

on

ST Telemedia Global

SINGAPORE – Media OutReach Newswire – 6 September 2024 – ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest-growing data centre colocation services provider headquartered in Singapore, today announced a significant investment of US$3.2 billion (INR 26,000 crores) to expand its data centre capacity in India by a substantial 550MW, nearly tripling the company’s IT load capacity to meet the demands of India’s thriving digital economy, over the next 5-6 years.

This strategic investment reflects STT GDC’s confidence in India and the growth of its digital economy, as well as aligning with the burgeoning demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and growing adoption of AI applications. This investment also further solidifies our market leadership in India, where we already command about 28% of market share by revenue.

STT GDC India is majority-owned by STT GDC in partnership with Tata Communications Ltd, which holds a minority stake in the company. STT GDC India’s portfolio consists of 28 data centres across 10 cities throughout India. Today, its data centre portfolio has a total combined capacity of over 318MW of IT load, with a well-diversified portfolio of about 1,000 enterprise customers that include many Fortune 500 companies. More recently, STT GDC India was recognised as a Great Place to Work for the fifth consecutive year, as well as one of the Best Places to Work in Asia.

“As we celebrate STT GDC’s 10th anniversary this year, embarking on this ambitious expansion is a sign of our confidence in Digital India and the future of one of STT GDC’s strategic and fastest growing markets globally. Prime Minister Modi’s vision for Digital India has paved the way for opportunity; today the India digital economy’s growth rate of almost three times overall GDP growth is putting the country on pace to achieve a US$1 trillion digital economy by 2027-20281. At STT GDC, we want to play an active role in co-investing and contributing to India’s long-term success by investing in the foundational digital infrastructure that will help further accelerate Digital India. We are excited about the opportunities ahead and are confident in our ability to contribute significantly to India’s digital transformation,” said Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres.

STT GDC, along with several other Singapore business leaders, participated in a Business Roundtable with Prime Minister Narendra Modi hosted by the Singapore Business Federation on 5 September 2024.

—–
1India digital economy: India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar – The Economic Times (indiatimes.com)

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/.

Continue Reading

Trending