The Silicon Review
Project Finance has been used to fund projects extensively in the oil extraction, power production, and infrastructure sectors for a while now. This funding is created by organizations using equity or debt. But how do the lenders get the money back? – Through cash flow generated by the project being funded. The positives of project financing are also known to be used by governments all over the world. For example, governments often use project financing to keep project debt and liabilities off-balance-sheet.
But this isn’t all that the Group holds expertise in. The Vitala Group specializes in the formation of financing syndicates covering startup and ongoing projects, the provision of Private Placement Memoranda and related documentation for project verification, and also M&A services. We interviewed Dr. Wolf Vierich, Group Chairman of the company, to know more about the company’s current projects and how the company fared during the pandemic.
Here are the excerpts from the interview:
Q. What inspired you to establish The Vitala Group?
In the 1980s, international project development demands began to increase and there were very few companies available who had the capability to identify, develop, design and verify complex, new economic and financial project information in order to project manage. This is where we fit in.
Q. Could you tell us about your services?
The Vitala Group of Companies is now operating in its 38th year. The Group is best known as Project Finance providers, developers, managers, and consultants to the leisure, tourism and themed entertainment industry. Under our project finance services, we offer Equity / debt funding, Project startups, Partnerships, Project loans, Project Management, Investigation, Private placement memoranda, Feasibility study assignments, Loan syndication, Operational audits, Project acquisitions, Project mergers, and Project buy-outs/ buy-ins. We provide additional related services pertaining to many other industries.
We also specialize in global project financing and the formation of financing syndicates covering startup and ongoing projects, the provision of Private Placement Memoranda and related documentation for project verification, as well as Merger and Acquisition services. The Group’s commercial activities cover investment, consultancy and management services for all types of industries worldwide. We do not charge any up-front fees or any other hidden fees for Project Financing. We only charge a success fee.
Q. How does your expertise help you stand apart from your competitors?
Since 1983, The Vitala Group has been raising project finance. We receive numerous applications for all types of project financing and, as we do not act as finance brokers, we recommend the most appropriate source for a project’s evaluation.
Project financing is based on the merits and risk aspects of the project rather than on security and corporate considerations. With global development projects completed in over 153 countries since 1983, we specialize in financing projects from inception right through to operation. This includes project finance, acquisitions, mergers, buy-outs and joint ventures.
Our other services cover: conceptualization / feasibility studies / management plans / business plans / master planning & architectural design / golf design services / international project financing / project management / operational management / sponsorship / grant search / joint ventures / international business & competitive intelligence / management buy ins / buy outs.
Q. You have completed development projects in over 150 countries. Could you tell us about your journey so far?
We have completed projects in over 153 countries. Firstly, no one project is ever the same as another.People, countries, cultures, and project designs are each very different.In over 38 years of global project development and project financing, we have dealt with almost every type of development imaginable. Dealing with so many different countries and cultures, it is important to be qualified and able to assess a project’s economic, financial, as well as legal, needs. We aim to provide customer-tailored professional services in an environmentally acceptable, ethical and legal manner and, as well as developing projects, to create a better global environment. We strive to create opportunities for young people to enter our industry and to further those who display an exceptional positive attitude and a willingness to learn.
Q. Tell us about the projects you are undertaking in 2021. Are they challenging?
In 2021, our projects are a mix of Manufacturing and Plant, Renewable energy, Pharmaceutical manufacturing, Tourist resorts, Healthcare projects (hospitals), University projects, Agricultural projects and many other industry types. Our current projects are located in Vietnam, Republic of Korea, Kyrgyzstan, Bulgaria, South Africa, Canada, Saudi Arabia, Dominica, Ukraine, Egypt, and Uganda – with many other locations constantly emerging.
Q. What does the Vitala Group work culture entail?
A 100% commitment to work ethically; honesty to all, even if this sometimes forces an admission of fault; and loyalty to all. We are professional at all times.We do not settle for second best.
Q. 2020 was a challenging year. How was it working through the COVID-19 pandemic? Tell us about your experience.
The demand for international project finance in excess of US$ 10.0 million per project was steady in 2020 and the COVID-19 pandemic had no measurable effect on that. We commenced real estate project finance in the Republic of Korea, Kazakhstan, the United Arab Emirates, Turkey, Kyrgyzstan and Mongolia.All our 10 global offices functioned throughout the COVID-19 crisis, because of the vast number of ongoing international projects we had to deal with. Obviously, there have been project delays caused by the various restrictions and quarantine measures imposed globally. But this has affected mainly operators but not developers since, in most cases, project development requires some years to complete.
Q. What is The Vitala Group’s vision for the future?
To provide excellence and to succeed through satisfied customers and clients. We will hire, train, and motivate the best employees available in the market. We will promote them first before engaging outside personnel; to treat staff respectfully and award them fairly and develop our personnel to act as good citizens of the community. This remains to be our constant mission. We would also like to preferably deal with projects which will impact communities in a positive manner, with realistic measurable results.
The Visionary Leader
Dr. Wolf Vierich, Group Chairman
He was legal and economic advisor to six Heads of State and led economic nationalization programmes in Tanzania, Iran, Jordan and Qatar in the 1970s – 1980s. He was also Regional General Manager of the UK Inchcape Group’s Middle East operations, and Holiday Inn International Hotels’ Director of Projects Europe, Middle East and Africa. He has worked and consulted on numerous Government programmes and campaigns in Japan and the USA.
He was chosen by President Reagan as the Chair for the Commission on the American Outdoors.He was also Chair of the State of Florida Crime Prevention Program and was appointed as a Distinguished Visitor of the City of Miami.
He also lectures, speaks, and has published worldwide on subjects covering Law, Management and global tourism industry trends and project finance. For his global achievements in the international tourism industry he was knighted by the German Government in 2010.
A Graduate from two West German Hotel Management Schools, his educational curriculum was complemented at Cornell University, Ithaca, New York, and the University of Austin, Texas, majoring in International Trade Law and Contract Law, obtaining his JD and PhD, followed by studies in International Project Management at the European Centre of Management in Brussels, and in Executive Management at Cornell University, Ithaca, New York. Afterwards, he obtained an MBA from the University of Munich, Germany.
“Most recently, in 2021, he was chosen as “CEO of the Year 2021” by CEO Today Magazine.”
Dr. Wolf Vierich’s Tips for Business Success: