Word: consortium
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Dates: during 1960-1969
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...steamy banks of Ghana's crocodile-infested Volta River seemed an unlikely place to make a major test of Western investment faith and prospects in the new, fiercely nationalist countries of Africa, but so it was. Meeting in Accra, President Nkrumah's Ghana government and a consortium of aluminum companies headed by U.S. Aluminum Maker Edgar Kaiser signed a historic agreement. Under the deal, Kaiser will raise $178 million to build an aluminum smelter. Ghana will supply the power by building a $168 million dam on the Volta River. "It could mean to Ghana what...
...once the Group's manager, he is credited with persuading the company to become one of the first (along with Créole Petróleum) to adopt the new fifty-fifty profit plan later adopted by the entire oil industry. In Iran, he helped head the international consortium in negotiations in 1954 after Premier Mossadegh nationalized the oil industry. Generally, Loudon prefers to leave most of the on-the-spot negotiating to local managers. Says he: "By comparison, they are certainly more important and have greater responsibility than ambassadors today." All of them go forth with one ironclad...
...grown so fast since the war that the amount of hydroelectric power available in Metropolitan France, of which it uses 6%, is no longer enough. Its search for additional sources of cheap power (and cheap raw materials) has also led it to Africa, where it joined an international consortium, including Olin-Mathieson, to build an aluminum plant in Cameroon, helped build an ore-processing plant in Guinea (with a housing development and community swimming pool), is planning still other plants in Guinea and the Republic of the Congo. Its Lacq plant will raise the company's aluminum capacity...