Manufacturing and Industry

looking at the manufacturing and industry sector in the Middle East

ICCI ventures in cars, aircraft production
The Islamic Chamber of Commerce and Industry (ICCI) has formed an investment company called Foras Investment Co., which looks into manufacturing low-cost cars, aircraft and satellites, Arab News has reported. It has an initial capital of SR562m, 20% stake of which is from the Islamic Development Bank. The company is looking into several industrial projects in OIC member countries.
Saudi Arabia: Sunday, June 29 - 2008 at 09:07

Al Rushaid, Zeeco to build OEM facility
Al Rushaid Group and Zeeco has formed a joint venture to build an original equipment manufacturer (OEM) facility for Flare Technologies. The technology will utilize Saudi Aramco's patented High Pressure Air Assist System, HPAAS. The facility will have two units, a combustion related equipment manufacturing, test and repair facility and R&D facility. The project cost is approximately $30m.
Saudi Arabia: Saturday, June 28 - 2008 at 11:09

$500m industrial zone planned in Saudi prison
Saudi Arabia plans to set up a $500m 'industrial zone' behind the walls of a prison complex in the kingdom, reported Reuters. The head of Haer prison and the government's Industrial Cities Authority signed a contract to attract private sector investment, which would provide 3,000-5,000 jobs, apparently for prisoners, Saudi media said. It was not clear what industries would be targeted inside the zone, which has been allocated 1 million square metres inside Haer, which is a high-security prison near Riyadh.
Saudi Arabia: Thursday, June 26 - 2008 at 09:17

Emaar awards $172m contract to City Cool
City Cool, a district cooling provider and a subsidiary of Al Rajhi Investment Group, has signed an Dhs630m ($172m) agreement with Emaar The Economic City to provide district cooling infrastructure for the Bay La Sun development in Saudi Arabia. The development will be supplied with 67,000 tonnes of refrigeration, with future expansion up to 80,000 tonnes, from two district cooling plants.
Saudi Arabia: Thursday, June 26 - 2008 at 07:22

Alam Steel signs JV with Macsteel
Dubai-based Alam Steel Ltd has signed a Dhs100m ($27m) joint venture with South Africa's Macsteel SA to build the Middle East's first service centre for processing high grade steel plates in Jebel Ali, reported Khaleej Times. as part of a Dhs1bn five-year expansion programme across the Gulf region. The 50:50 joint venture facility is to be operational within a year. Alam Steel also operates a 500,000 tonne steel debar processing plant in in Dubai Investment Park.
United Arab Emirates: Wednesday, June 25 - 2008 at 07:28

DSO eyes microelectronics firms at Interconex
Dubai Silicon Oasis, a regional integrated innovations hub for high-tech industries, plans to target international microelectronics companies at Interconex 2008, which takes place in Paris from 24th to 25th June. In line with its mission to attract Foreign Direct Investment into the UAE, Dubai Silicon Oasis will utilise the platform of the forum to showcase its state-of-the-art infrastructure that is tailored to host international technology corporations, according to a statement.
United Arab Emirates: Tuesday, June 24 - 2008 at 08:29

Indian firm invests in Oman aluminium
Bangalore-based Future Metals Private Ltd has partnered with the Oman Oil Company to establish an aluminium rod extrusion plant at the Sohar Industrial Estate. The plant will use the hot metal from Sohar Aluminium's newly operational $2.4bn smelter, reported Gulf News. Future Metals will have 70% stake, while the remaining 30% will be owned by Takamul Investment, a venture capital fund set up by Oman Oil Company.
Oman: Monday, June 23 - 2008 at 09:37

Egypt wants Agrium plant moved
The Egyptian parliament has recommended the relocation of Agrium Inc's $1.2bn fertiliser plant from its site in Egypt's Mediterranean city of Damietta, reported Bloomberg. Residents have feared pollution, prompting the parliament suggesting to move the factory to any other suitable industrial zone. Agrium is 60% owned by EAgrium joint venture, with Egyptian Natural Gas Co, other Egyptian partners and Arab Petroleum Investments Corp.
Egypt: Sunday, June 22 - 2008 at 10:04