Regional News
November 2008

Siemens has been contracted to accomplish the electrical transmission and distribution (T&D) work for the first phase of King Abdullah Economic City (KAEC).The SR553-million ($147.15 million) contract was awarded by Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing KAEC. The work is scheduled to be completed by 2010.






November 2008

Saudi Basic Industries Corp (Sabic), the Gulf’s largest steel maker, has slashed some prices amid signs of slowing demand. Sabic, whose subsidiary Hadeed is the kingdom’s largest steel maker, said in a statement it had reduced the prices of reinforcing steel bars by SR720 ($192) per tonne.






November 2008

Dubai Industrial City, a member of Tatweer and the third largest non-real estate project in Dubai, has commenced leasing nearly 2.8 million sq m of open storage yards to meet the huge demand from major automotive, equipment and construction companies.






November 2008

ACWA Emirates has won a £20 million ($36.6 million) contract for the construction of a sewage treatment plant at Dubai’s Al-Maktoum International Airport, which aims to become the world’s biggest airport.






November 2008

Abu Dhabi’s Mubadala Development Company and Paris-based Veolia Water have announced their intention to create a joint-venture company that will focus on the areas of water production and waste water collection and treatment in the Middle East and North Africa (Mena) region.






November 2008

Masdar, Abu Dhabi’s multi-billion-dollar renewable energy and clean technology initiative, has bought a significant equity stake in WinWinD Oy, a Finnish wind turbine manufacturer, in a move the UAE company said was strategic and highlighted its commitment to be a key player in the wind energy markets.






November 2008

UAE-based Danube Building Materials has announced it will develop a new steel facility in Oman to strengthen its presence in the sultanate. The facility, which will cost $13.






November 2008

The Abu Dhabi National Energy Company PJSC (Taqa), a publicly listed company on the Abu Dhabi Securities Exchange, has announced that it has completed the sale of a 20 per cent interest in Shuweihat CMS International Power Company (Scipco) and a 50 per cent interest in Shuweihat O&M Limited Partnership (SOMLP) to Sumitomo Corporation.






November 2008

Dulux, supplied throughout the Middle East by Al Gurg Leigh’s Paints, has announced that it employs Leed (Leadership in Energy and Environmental Design) standards in all its paints.Al Gurg Leigh’s Paints is the first paint company in the UAE to become members of the US Green Building Council, said an official.






November 2008

With Arabian Gulf countries embarked on major investment in expanding the domestic manufacturing sector, demand is growing for industry-related software - a market forecast to hit $300 million by next year, according to industry observers.






November 2008

The UAE Ministry of the Environment will soon launch a centre for clean production as a means to encourage businesses to embrace sustainability. Disclosing this at an Enoc conference, Environment Minister Dr Rashid Ahmed bin Fahad said compliance with regulations alone would not make a business sustainable.






November 2008

Doosan, awarded a contract by Kuwait to build a sea water reverse osmosis (SWRO) desalination plant, has subcontracted Energy Recovery Inc (ERI) to supply its technology. ERI is a global leader of ultra-high-efficiency energy recovery products and technology for desalination.






November 2008

Ziggurat, the proposed eco-city by Dubai-based Timelinks, aims to cut carbon-emissions by 90 per cent by becoming totally car-free. The sustainable city wants to support an entire community of up to one million people by harnessing the power of nature.“Industrialised cities are now pumping out billions of tonnes of CO2 into the environment.






November 2008

Reed Exhibitions has announced its acquisition of the Airport Show from Streamline Marketing Group. The Airport Show is the region’s leading procurement event for the aviation and airports sector and held annually in Dubai, UAE.






November 2008

Emirates Investment and Development Company (Emivest), the majority shareholder of Sino Swearingen Aircraft Corp (SSAC), has rebranded the US-based firm to Emivest Aerospace Corporation signalling its latest foray into the aircraft manufacturing sector. Emivest had acquired an 80 per cent stake in SSAC in June 2008.






November 2008

Saudi Basic Industries Corporation (Sabic), the world’s largest chemicals company by market value, has registered a 2.3 per cent drop in third-quarter profit, in line with forecasts. Sabic made SR7.24 billion ($1.93 billion) in the three months to September 30, down 2.






November 2008

Emirates Aluminium Company (Emal) has awarded Solios Carbone with a turnkey contract for the design, supply, installation and start-up of a bath treatment plant for their new smelter located in the Industrial zone of Taweelah Port in Abu Dhabi.






November 2008

Saudi-based Zamil Industrial said its net profit for the first nine months of 2008 rose 27 per cent to SR205.1 million ($54.7 million) when compared with SR161.3 million during the same period last year. Announcing the company’s interim consolidated financial results, managing director Khalid A Al Zamil said the total group turnover was SR3.






Tags