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Emal and Gasco open smelter gas pipeline
Emirates Aluminium (Emal) and Abu Dhabi Gas Industries (Gasco) have opened a natural gas pipeline that will enable onsite power production at the single site aluminium smelter. The pipeline will give Emal an uninterrupted supply of natural gas, which will be used to supply power to the plant.
Iraq's Southern Cement hits record production
Iraq's Ministry of Industry and Minerals has said that despite the shortage of electricity supply, state-owned Southern Cement has managed to achieve a record production of 387,000 tonnes during the first half of the current year. "This accounts for 70% of its planned production for this year," the ministry said.
Abu Dhabi signs Sensible AC deal
Ireland-based LG distributor Sensible Air Conditioning has signed an agreement to distribute the Korean giant's products in Abu Dhabi. "We have successfully set up our business in Abu Dhabi and are well poised to take advantage of the prevailing business opportunities in the Middle East," the firm told Refrigeration and Air Conditioning magazine.
Sharjah orders for new gas cylinders
The Sharjah Economic Development Department (SEDD) has signed a contract with Haifa Industrial for large supply of liquid gas cylinders that comply with SEDD standards. Haifa will provide SEDD with 7,086 48-litre liquid gas cylinders with an overall value of Dhs900,000 due for delivery before the end of 2009. The new cylinders are set to replace currently used in the emirate that are due to expire.
Jordan Phosphate seeks $90m loan
Jordan Phosphate Mines Company is seeking loans for the development of a new phosphate terminal, MEED has reported. The company is asking from the International Finance Corporation (IFC), a division of the World Bank, a $90m loan, which will be split into a $30m tranche and a $60m tranche. The project is valued at $180m, which would need the construction of a 4 million-tonne-a-year rock phosphate terminal at Jordan's Aqaba port complex.
Masdar signs BASF partnership
Abu-Dhabi-based Masdar and German chemical company BASF have signed a strategic partnership agreement for collaboration on the construction of Masdar City, the world's first carbon-neutral and zero-waste city. BASF is named as a 'preferred supplier' of construction materials and system solutions for the city's construction. The chemical company will also open an office in Masdar City once it is completed.
Sipchem to begin SR4bn phase 2
Saudi International Petrochemical Co (Sipchem) has said that a SR4bn ($1.07bn) second phase of its development plans will start operations in September, Reuters has reported. The second phase of Sipchem's projects consists of an acetyls complex that will produce 450,000 tonnes of acetic acid, 330,000 tonnes of vinyl acetate monomer and 345,000 tonnes of carbon monoxide annually.
Maaden signs SR95m deal
Saudi Arabian Mining Co. (Maaden) has said that it has signed a SR95m contract with Al-Olayan Descon for the construction of a new mineral processing plant in Madinah, the Arab News has reported. The agreement involves the building of mine infrastructure at the Al-Gazalah Magnesite (Magnesium Carbonate) deposit, 160 km southwest of Hail, to extract mineral and supply the plant. Work at both sites will begin as soon as the logistics are in place, Maaden has said.
KSE to auction Gulf Glass
A total of 3.2 million shares of Kuwait's Gulf Glass Manufacturing Company, making up 8.33% of its capital, are set to be auctioned at an initial price of KD 2.1m by the Kuwait Stock Exchange (KSE) on Wednesday, Kuna has reported. Securities Group and Al Sharq Holding Company would join the auction as a seller and a buyer respectively, the KSE has said.
Al-Tuwairqi steel unit set for 2010 opening
Saudi-based Al-Tuwairqi Holding Company has said that production at a new steel complex will begin in 2010, which would reduce its steel pellets imports to nil by next year. With a production capacity of two million tonnes, the plant will raise to three million tonnes the steel billets production capacity of the group. The steel complex, which includes a pelletization unit, a direct reduction unit and a melt shop, will be called the Arab Iron and Steel Company, and will be 100% owned by family-owned Al-Tuwairqi Holding Company, the company has said.
Equate Petrochem opens Styrene plant
Kuwait's Equate Petrochemical Company has announced the beginning of commercial operations of The Kuwait Styrene Company's new Ethyl Benzene & Styrene Monomer production plant. With a production capacity of 450,000 metric tons annually of Styrene Monomer (SM), the new plant is currently producing on-spec SM and will be run as part of Greater Equate's integrated facility.
Maritime Industrial Q2 revenue up
UAE-based Maritime Industrial Services Co. (MIS) has said that its Q2 revenue rose 62% to $132.5m, compared to the same period last year, reflecting progress on six new-build rigs in production during the quarter versus three at the same time last year. Net income grew by more than 600% to reach $10.2m, compared to the same period last year, as both gross and net margins improved, MIS has said.
Brunei to buy Jordan military vehicles
Jordan's King Abdullah II Design and Development Bureau (KADDB) has said it has signed an agreement to deliver 18 military vehicles to the Royal Brunei Armed Forces by the end of this year. Under the agreement, KADDB will delivery six Al Tha'lab Long Range Patrol Vehicles and a dozen dual-wheel utility vehicle Rangers, including two Armoured Land Cruisers.
Sewedy H1 profits down 30%
Egypt-based Sewedy Cables, the largest Arab cable maker by market value, has posted a 30% drop in first half net profit to EGP369m as volumes grew but prices slipped, Reuters has reported. Export revenue fell 41% to EGP1.94bn, out of total revenue of EGP4.64bn, the firm has said. Gross profit from turnkey projects grew 38% to EGP132m from EGP96m in the first half of 2008, and gross profit from electrical products expanded 8% to EGP119m, Sewedy has said.
Sabic offers 'green' composites
Sabic Innovative Plastics has announced the introduction of two products in a new line of LNP Thermocomp specialty compounds that use curauá fibre and wood flour natural reinforcements. Compared to traditional reinforcements such as glass fibre, natural fibres offer several environmental benefits; the new products are renewable, biodegradable and require less energy to produce, Sabic has said. Furthermore, they are lighter in weight than glass and other traditional fibres, helping to reduce energy consumption in shipping, the firm has added.
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