Hammouri Group

The General Assembly approves a new package of qualitative investments in Palestine

  • By adminJCS
  • May 16, 2024
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The General Assembly approves a new package of qualitative investments in Palestine

the “Palestine Prosperity” Company for Development and Investment held the company’s annual general assembly meeting at the Palestinian Businessmen Forum in the city of Hebron, in the presence of 90% of its members. During the meeting, a new board of directors for the company was elected, and the establishment of the largest electric power generation project in the country was approved. Palestine, with a capacity of 200 megawatts, and a review of the achievement in the feed factory, which is the largest in Palestine, and production will begin in the coming months.

Members of the General Assembly, the company’s shareholders, its executive management, and a number of guests of honor visited the Palestine Prosperity Feed Factory in Tarqumiya, and the CEO, Mr. Basil Al-Qadi, gave a detailed presentation of the components of the project and the achievement achieved. The factory is the first of the company’s achievements, and it is the largest fodder production factory in Palestine. It was completed in In record time, a full year ahead of the deadlines for completion, and through advanced and sophisticated purchasing methods, it achieved a reduction in investment costs estimated at 40% compared to similar factories. The attendees expressed their high appreciation for this national edifice, which is a source of pride for Palestinian industry.

Those who attended the meeting represented 90% of the members of the General Assembly, and a number of young businessmen participated in it. The session was opened with a speech by the Chairman of the Board of Directors, Mr. Rafiq Abu Manshar, in which he stressed the strategy of impactful investment and investment in infrastructure, most notably energy projects, most notably the Hebron Generating Station project. The electrical energy capacity is 200 megawatts, as the project implementation agreement was recently signed with the Palestinian Council of Ministers on 08/17/2023.

This project is expected to achieve a strong boost to the industries in Hebron Governorate and the industrial zone in Tarqumiya and contribute to meeting the current deficit in demand for electrical energy, which is estimated at 1,000 megawatts in Palestine. Then the CEO, Mr. Basil Al-Qadi, presented the achievements report and pointed to the progress represented by the management of Investments worth $67 million, and developing the company’s governance in cooperation with major international consulting companies, followed by the reading of the financial report from the company’s auditor, HLP International.

The company is currently studying a number of major projects with impact, including (cement manufacturing project, iron smelting project, solar farm, model international school project, model poultry farms, and wheat mills).

The General Assembly meeting witnessed the election of members of its new Board of Directors, which was made up of a group of senior businessmen with qualitative experience and successful stories, namely: Rafiq Abu Manshar, Chairman of the Board of Directors of the United Cement and Iron Company, Basil Al-Qadi, who is one of the initiators of establishing the “Palestine Prosperity” Company and is an expert. An acclaimed economist, financial and business developer, Maha Abu Shusha, a new addition to the Council, is a member of the Board of Directors of the Bank of Palestine, a member of the Arab Businesswomen’s Council and the Businesswomen’s Forum in Palestine, and the general manager and owner of Abu Shusha Company, Issa Khoury, a new addition to the Council and the director of the largest metal construction company. An industrial sector in the Middle East that contributed to the establishment of many electric power production stations and infrastructure projects in Palestine and abroad. Musa Al-Jubeh, a lawyer and owner of Al-Mada’in Company and the executor of many real estate projects in the city of Jerusalem and the Chairman of the Board of Directors of Al-Zaytoonah University. Nabil Abu Sneineh, a founder and member of the Board of Directors of the University. Al-Zaytouna, a shareholder and executor of many real estate projects, most notably the Ramallah Boulevard project and the City Mall, Ihab Hassouna, an auditor and financial expert, and Mamoun Al-Junaidi, who is Chairman of the Board of Directors of Al-Junaidi Group and Chairman of the Board of Directors of Al-Wafa Plastic Industries Company, which is a pioneering company in this sector and a developer of its new businesses and projects.

The General Assembly meeting concluded with an open discussion about the company’s achievements and future plans.