$296m plant in Morocco

GLOBAL Oil Shale, a leading Scandinavian energy company, will set up a cement plant worth MAD3 billion ($296.5 million) worth in Tarfaya, Morocco, located 1,200-km south of Rabat, said a report. The new plant will cover an area of about 2,500 sq km east of the town of Tarfaya, along the Atlantic coast, added the Morocco World News report. The company signed a convention with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) in for the evaluation of Timahdit and Tarfaya deposits and its oil shales as part of its strategy to develop a market scale oil shale project in Morocco.

Siemens wins $12m deal

SIEMENS has won a QR45.2 million ($12.4 million) contract to help power Qatar’s new Hamad Port, a megaproject, with a sizeable energy management package. The contract is the first for Siemens within the project and includes the supply of fully-integrated E-House substations that will significantly reduce on-site civil works and installation, said a statement from the company. Siemens will also provide 22kV switchgears, 22kV transformers, low voltage switchgears, protection and power management systems, supervision of installation, testing and commissioning, it said.

Kerui wins contract in Kuwait

KERUI Petroleum obtained a membrane nitrogen stimulation contract in Kuwait, which breaks the domination of liquid nitrogen in Kuwait market, and brings the new stimulation product and method into Kuwait. The stimulation effect of liquid nitrogen is unsatisfactory in many oil wells due to its low continuity and transportation issue which increase cost. Whereas, Kerui membrane separation technology is able to generate nitrogen in well sites continuously and to pump gas nitrogen into well directly without transportation, cutting 20 per cent in cost.

FDI into Iran to see increase

THE overall number of projects in Iran which have drawn foreign direct investment is expected to increase by over six times by March, a senior official said in a report. Once the contracts between Iranian and foreign firms are finalised, it will attract $10 billion to $12 billion in foreign investments, Feriyal Mostofi, a member of Chamber of Commerce, Industries, Mine and Agriculture said in a report.