Manufacturing and Industry

looking at the manufacturing and industry sector in the Middle East

National Marine Q1 profit up 6%
UAE-based National Marine Dredging Co said its first quarter profit rose 6% as it made a gain on finance income, reported Bloomberg. Net income rose to Dhs34.4m ($9.4m), or Dhs0.20 a share, from Dhs32.5m, or Dhs0.19, a year earlier.
United Arab Emirates: Thursday, May 15 - 2008 at 07:48

Binladen in $4.5bn Saudi project
Saudi Arabia's Binladin Group is teaming up with Malaysia's MMC and the Aluminum Corporation of China (Chalco), China's top aluminium producer, for a joint aluminium project in the Kingdom, reported Khaleej Times. The project, to cost $4.5bn, includes an aluminium smelter plant and an equipped power plant in Jizan Economic City. The smelter will have an annual production capacity of 1 million tonnes.
Saudi Arabia: Wednesday, May 14 - 2008 at 09:31

UAE's food processing sector worth $3bn
The UAE's food processing industry was worth $3bn in 2007 and is growing at a rate of 11% a year, according to a report by the Dubai Chamber of Commerce and Industry. The report also said there were many investment opportunities in the sector, including new firm entrance, product diversification and plant expansion.
United Arab Emirates: Wednesday, May 14 - 2008 at 07:35

Maaden to raise $2.46bn in IPO
Saudi Arabian Mining Company (Maaden) plans to sell 50% or 462.5 million of its shares for SR9.25bn ($2.46bn) at an initial public offering in July, reported Arab News. The shares will be sold at the rate of SR20 per share, including SR10 premium, during the July 5-14 IPO.
Saudi Arabia: Tuesday, May 13 - 2008 at 10:48

Amiantit sales jump 44% in April
Saudi Arabian Amiantit Co, which makes fiberglass, iron and cylinder pipes, recorded a 44% increase in sales last month, reported Bloomberg. The company said sales in April advanced to 390 million riyals ($104m), compared with 271 million riyals in the same period last year.
Saudi Arabia: Tuesday, May 13 - 2008 at 08:08

Saint-Gobain factory underway
Saint-Gobain Gyproc Emirates Industries LLC is building a factory in the Industrial City area of Abu Dhabi. The purpose-built plasterboard manufacturing factory has awarded the construction to Amana Contracting for Dhs99m contract. Saint-Gobain Gyproc Emirates Industries LLC is a joint venture between Saint-Gobain and Sultan International Holding.
United Arab Emirates: Monday, May 12 - 2008 at 13:40

Dewa puts in Dhs12m to meet demand
The Dubai Electricity and Water Authority (Dewa) has signed Dhs12m six mega projects in power generation and water desalination to meet rising demand, reported Gulf News. Power consumption in Dubai has risen to 24,756 gigawatts in 2007 compared to 21,475 in 2006, while water consumption has hit 72,588 million imperial gallons (MIGD) per day, compared to 64,961 MIGD in 2006.
United Arab Emirates: Monday, May 12 - 2008 at 10:00

EIIC plans Dhs1.8bn factories
Emirates International Investment Company (EIIC) announced its plans to build six hi-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam, to cost Dhs1.8bn. The factory is geared at producing 40,000 tonnes/year of copper and 7,000 tonnes/year of aluminium low, medium and high voltage cables.
United Arab Emirates: Sunday, May 11 - 2008 at 09:53

Index : Manufacturing and Industry