In Brief

01 February 2017

UAE signs hyperloop deal

THE Office of Sheikh Falah Bin Zayed Al Nahyan has signed a strategic partnership agreement with Hyperloop Transportation Technologies (HTT), as part of its support for the project to link the cities of Abu Dhabi and Al Ain via Hyperloop technology. The partnership will allow the company to accelerate the pace of its project, which follows the study agreement signed between HTT and the Abu Dhabi Department of Municipal Affairs and Transportation (DMAT) in November last year.


GAC restructures management

GAC has announced new management appointments at group and individual company level. Martin Wallgren has been appointed the group’s chief information officer (CIO), a newly created role which recognises the importance of data management as a vital tool in 21st century business, said a statement from the company. Effective February 1, GAC Dubai’s managing director Stuart Bowie will take over as the group vice president – commercial, it added. He will replace Christer Sjödoff, who retires at the end of January, after 24 years with GAC.


Iran, Germany ink tie-up

IRAN has signed a deal with Germany to cooperate on the production of 50 diesel locomotives for use in the Iranian rail network, a report said. The locomotives will be jointly produced by Germany’s engineering giant Siemens and Iran Power Projects Management Company (Mapna), Iranian Minister of Roads and Urban Development Abbas Akhoundi was quoted as saying in a report. The railway system needs an extra 150 locomotives, he added, noting that Iran currently has 165 diesel locomotives


Russia to build power plant

IRAN and Russia have signed an agreement worth billions of dollars for Russian companies to build a power plant in Iran and enhance the power generation capacity of another plant, said a senior official. The Russians will improve the efficiency at Ramin Power Plant in Khuzestan Province to 50-55 per cent from the current 36 per cent, Alireza Daemi, Iranian deputy energy minister, was quoted as saying in a report. He added that another Russian company will build a 1,400-MW power plant in Bandar Abbas, Hormuzgan Province.

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