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Jotun opens Saudi plant
Jotun Saudia, a subsidiary of the Norwegian paint and coatings producer Jotun A/S, has inaugurated its new SR100m paint factory in Saudi Arabia. With the inauguration of the new factory, Jotun's installed production capacity in the kingdom has increased to 110 million litres of paint, making it one of the largest in the Middle East.
SaudConsult, Technip plan engineering JV
Saudi Arabia-based multi-disciplinary engineering and architectural firm, SaudConsult has signed a memorandum of understanding with Technip France to set up a 50-50 joint-venture firm aimed at developing a new engineering centre in Saudi Arabia. Located in Al Khobar, the new company will focus on front end engineering design, detailed engineering, procurement and construction management services. Pending regulatory clearance, the new joint-venture is expected to begin operations by mid 2010.
Lecico to build Egypt tile plant
Lecico, the Egyptian ceramics manufacturer, has announced it will build a $42m tile factory to take advantage of strong demand and the growing profitability of its business, Reuters has reported. The plant, near the northern port city of Alexandria, will produce red body tiles in the second quarter of 2011, followed by porcelain tiles in the fourth quarter. The first phase will cost $27.5m. The second phase, which will cost $14.5m, will expand production of red body tiles in mid-2013 and porcelain tiles in early 2015. Lecico exports around 25% of its tiles to other countries in the region.
IPIC eyes European takeovers
Khadem al-Qubaisi, managing director of Abu Dhabi's International Petroleum Investment Co. (IPIC) has announced that the firm is negotiating the takeover of five companies including Bayer's MaterialScience division, Reuters has reported. IPIC expects to close a European acquisition by the first quarter of 2010, he said. 'It's a big deal. We're looking to buy a very big petrochemical company in Europe. It's in petrochemicals and specialities also. Bayer MaterialScience is one of the companies we've been talking to,' al-Qubaisi said.
ADBIC inks aluminium extrusion MoU
Abu Dhabi Basic Industries Corp. (ADBIC) has signed a memorandum of understanding with Gulf Extrusions Co. aimed at establishing a $100m (Dhs368m) aluminium extrusion plant in Taweelah. Construction of the plant is expected to begin in the third quarter of 2010 at the Khalifa Port and Industrial Zone in Taweelah. The plant will produce 50,000 tons per annum of aluminium extrusion and extrusion-based niche-oriented products, such as high-end architectural systems and automotive and engineering extrusions, using environmentally-friendly processes.
FEB to build Saudi polysilicon plant
Bahrain-headquartered First Energy Bank (FEB) and Project Management and Development Co. (PMD) have announced the establishment of a polysilicon production facility in Saudi Arabia. Located in Al Jubail Industrial City 2, the project will have a total production capacity of 7,500 tons per annum of high quality polysilicon product, which is used in the production of solar panels. The plant is expected to start production in 2013.
Lafarge Cement secures $340m loan
Lafarge Cement Syria, a subsidiary of French Lafarge, has secured a seven-year $340m syndicated loan to finance its cement factory in Syria, Reuters has reported. The loan by a group of mostly Arab banks would partly cover the cost of the 2.75 million ton a year factory. Syria produces six million tons of cement a year, 2-3 million tons short of domestic demand. All cement factories are owned by the state, except for two privately owned factories under construction, including Lafarge's plant.
L+T to open hi-tech Oman facility
L&T Heavy Engineering, a joint venture between Oman-based Zubair Corporation and India's Larsen and Toubro is set to inaugurate a high tech manufacturing facility in Sohar, Oman. The new plant will augment the existing modular fabrication facility which caters to the hydrocarbon and power sectors. The current facility is spread over 300,000 sqm and has a built-up area of 12,000 sqm with an additional 100,000sqm available for future expansion.
Sabic unit to build steel plant
Saudi Iron & Steel Co. (Hadeed), a unit of Saudi Basic Industries Corp. (Sabic), has signed an agreement with Italy's Danieli & Co. SpA to build a steel plant in the kingdom, Bloomberg has reported. The plant will have the capacity to produce 500,000 metric tons a year, raising Hadeed's annual steel-production capacity to six million tons. Production is scheduled to commence in the second half of 2012.
Jordan Lafarge ups cement prices
Jordan Lafarge Cement Factories Co has announced a JD2 per-ton increase in cement prices, state news agency Petra has reported. The kingdom's sole manufacturer of cement has attributed the rise to higher prices of industrial fuel.
EPI to supply metal components to Airbus
Emirates Precision Industries (EPI) has said it will be supplying Airbus with machined metallic components for all Airbus programmes, WAM has reported. The company, a subsidiary of Tawazun Holding Company of the Offset Program Bureau (OPB), and Airbus, have signed the agreement to allow EPI to start to supply the metallic components.
Tabreed posts quarterly profit
Abu Dhabi-based National Central Cooling (Tabreed) has reported Dhs23.6m in Q3 profit, up from Dhs15.5m the utility firm earned a year ago, Reuters has reported. Before minority interests, quarterly profit for the period fell to Dhs23.5m against Dhs24.5m in the year-ago period, Tabreed said in a statement. Profit for the nine month period up to September 30 was Dhs53.7m, up from Dhs49m in the same period in 2008.
Indian firm to build $400m soda plant in Oman
India's Oswal Group Global plans to build a caustic soda plant in Oman's southern port city of Salalah, Reuters has reported. Feasibility study for the $400m plant has been completed and construction of the plant is expected to commence in the fourth quarter of 2010, the firm said.
Arabian Cement inks deal with FLSmidth
Egypt-based Arabian Cement Company has signed a €21m agreement with Denmark-based global engineering firm, FLSmidth for the supply of engineering and equipment for a 360 tonnes per day cement mill and packing plant. The contract comprises all major equipment such as two UMS cement mills and cement silos as well as three cement packing/dispatch plants. Commissioning of the equipment is scheduled to take place by the end of 2010.
Emal's smelter to begin in December
Emirates Aluminium (Emal), the world's biggest single aluminium smelter, has announced that it will begin production next month, Reuters has reported. The $5.7bn project, located at Al Taweelah in Abu Dhabi, will have a full production capacity of 700,000 tonnes of aluminium per year from the first phase, expected to be reached by December 2010.
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