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Bahrain's GFH bank plans $10 bln Kazakh energy area

Wed Apr 9, 2008 11:32am EDT

DUBAI, April 9 (Reuters) - Bahraini Islamic lender Gulf Finance House GFHB.BH plans to develop a petroleum-related research and education area on Kazakhstan's Caspian Sea coast at a cost of $10 billion, the Kazakh government said.

Bahrain's second-largest firm by market value will develop the project with state-owned Kazyna and Samruk, and consultants PFC Energy International, according to the statement on the Web site of Kazakh President Nursultan Nazarbayev on Wednesday.

Gulf Finance House, which has overseen infrastructure projects and investments of more than $12 billion over eight years, is also building energy parks in Libya, India and Qatar. (For Reuters content on islamic finance, click on ISLAMIC) (Writing by John Irish; Editing by Paul Bolding)



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