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During these turbulent times, Advent UK has more work
than ever! We are certainly living in financial times, and
as the saying goes “When the going gets tough, the tough
get going….”
With
classic financing institutions short of liquidity for project
and development finance, we are looking at financing projects
in a more innovative way. Funds are more difficult to come
by and more expensive. There is more demand for JVs with
industry partners, and Investment Funds who have not yet
allocated all their investments are key. There are also
investors who finance build-to-let industry and logistic
projects, but the cost of money makes the figures heavy.
Russia’s
growth has shrunk, the ruble has lost value on the exchange
rates (and the US$ is rising), petrol and gas prices have
halved, the smaller banks are losing their licenses, the
outlook is grey and stormy. But in the long term this is
still a very strong market on our doorstep.
In
Russia, we have industrial and construction projects
with great potential in Krasnodar and other regions (breeze
block concrete production plant, Temyruk Port development,
a Krasnodar Hotel project etc.) , and a very interesting
light aircraft project we are launching in 2009.
In
Kazakhstan, we have a client looking for an industry
partner to set up a beer production plant, and a large city
district development project in Astana supported by the
Government.
In
Ukraine, we have agricultural storage projects, a
brick factory production project and the development of
Reni Port.
We
have just returned from Egypt which has a strong
economy, and the banks do not have any debt so remain stable.
We have large residential complexes selling mainly to the
local market that offer good investment returns.
Our
solar project in Italy is progressing to closure,
and will roll out in France in 2009.
I’m
going to the USA over Christmas and the New Year to get
an inside take on the financial situation over there, so
we wish you all a splendid Christmas and New Year; let’s
get the show on the road!
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