Fintech PR
Saxony-Anhalt Embraces Change as an Opportunity: Billions Invested in Key Transformation Industries
Companies are currently injecting nearly three billion euros into projects in Saxony-Anhalt, marking a significant commitment to transformative initiatives. When factoring in Intel’s giga-investments, an additional zero needs to be appended.
MAGDEBURG, Germany, Feb. 26, 2024 /PRNewswire/ — The largest investment project not only in Saxony-Anhalt but in all of Europe is Intel‘s establishment in Magdeburg. Approximately 30 billion euros are set to be invested in the construction of multiple chip factories. The company has initiated collaborations with six universities in Saxony-Anhalt and is actively recruiting its initial workforce. Approval processes commenced in February, paving the way for the production of the world’s most advanced chips in the two factories starting from 2027.
In addition to Intel, numerous other semiconductor companies are also making substantial investments. Sioux Technologies, a globally recognized technology accelerator with around 1,100 employees, is developing strategic high-tech solutions for various markets such as semiconductors, laboratory and medical technology, mechatronics, imaging, mobility, and clean energy. In Barleben, Sioux plans to invest around 20 million euros in a research and development center, gradually creating three hundred highly qualified permanent jobs.
Meanwhile, in Bernburg, a large high-performance distribution center for semiconductors and electronic components is taking shape. The topping-out ceremony for Avnet’s Electronics Distribution Center was celebrated in November 2023, with an investment volume exceeding 225 million euros. Over the next eight years, around 700 jobs are expected to be created in Bernburg.
Sven Schulze, Minister for Economic Affairs, Tourism, Agriculture, and Forestry of the State of Saxony-Anhalt, emphasizes the economic dynamism of the region against the backdrop of these examples: “Saxony-Anhalt is on the fast track. High-profile fast-track approvals, a central location in Europe, close collaboration with educational institutions, and attractive conditions such as affordable rents and sufficient childcare spaces make investments and living here exceptionally appealing.”
Life Sciences Take Pioneering Role in Saxony-Anhalt’s Future
Saxony-Anhalt is establishing itself as a leader in the field of Life Sciences, showcasing the state’s future resilience. The mRNA Center in Halle (Saale) is taking shape, with the Wacker Chemie AG demonstrating serious ambitions in this cutting-edge technology through a substantial investment exceeding 100 million euros. The new facility is expected to host around 200 employees. Additionally, the Magdeburg-based medical technology company Neoscan Solutions recently secured a contract to build the world’s most powerful 14 Tesla MRI magnet for human examinations.
Chemical parks in Saxony-Anhalt are undergoing expansion and sustainable transformation, with Germany’s largest Chemical Park Leuna, being one of the nation’s largest construction sites. Over 100 companies from eleven nations are investing 1.3 billion euros in research and green chemistry. The expansion is set to create up to 250 direct and 750 indirect jobs, primarily in the sustainable chemistry sector. AMG Lithium has chosen the Chemical Park Bitterfeld-Wolfen for a 140-million-euro investment to purify lithium hydroxide, transforming it into a battery-grade raw material – a unique endeavor in Europe.
Innovations in renewables and storage technologies
NexWafe, a US-based company, is investing 30 million euros in Bitterfeld-Wolfen to establish a factory for producing solar wafers, a crucial material for the photovoltaic industry. In Bitterfeld, the German company Silicon Products, in collaboration with a French partner, aims to produce high-purity silicon carbide, a vital resource for nearly all semiconductor manufacturers.
TESVOLT AG, a leading technology company in commercial and industrial energy storage, plans to construct a new Gigafactory in Lutherstadt Wittenberg, investing around 60 million euros. The long-term goal is to create over 400 new jobs, particularly in research and development.
The automotive and logistics sectors are also experiencing rapid development from international players. LMG Manufacturing, an aluminum die-casting specialist, inaugurated its new manufacturing hall in Hoym/Seeland after just ten months of construction. Daimler Truck‘s largest logistics project commenced with the official groundbreaking in Halberstadt in September 2023. The Global Parts Center in Halberstadt/Harz aims to deliver spare parts worldwide starting in 2025, generating approximately 450 jobs with an investment of nearly 500 million euros.
Dr. Robert Franke, Managing Director of the Investment and Marketing Corporation Saxony-Anhalt mbH, emphasizes, “Saxony-Anhalt is an attractive and sought-after location for settlement. We are witnessing significant investments not only in the chip industry but also in various other sectors such as pharmaceuticals, medical technology, and the automotive industry. This underscores why Saxony-Anhalt has gained considerable international visibility.”
Read more details here.
CONTACT: Sabine Kraus, +49 391/568 9920, [email protected]
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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