Manufacturing and Industry
- The news you choose »
- Login to Add to Watchlist
Egypt invites India to build industrial zone
The Egyptian government has offered to let India build an industrial zone in the Suez development area for setting up joint ventures with Egyptian companies, India's Economic Times has reported. The Suez development area, located on the north-west coast of the Gulf of Suez, has less bureaucratic barriers to business formation and provides tax incentives. Indian companies have invested about $750m in 40 projects in Egypt.
Zad eyes IPO for new poultry firm
Qatar-based Zad Holding has announced plans to sell a 50% stake in a new poultry company under creation, including through an initial public offering, Reuters has reported. A 20% stake will be offered to strategic partners, while the remaining 30% will go to the public as an IPO, Zad said.
Saudi firm to build airstrips in industrial cities
Saudi Industrial Property Authority (Modon) has signed an agreement with the Saudi Red Crescent Authority to establish airstrips for landing of ambulance helicopters and emergency service centres in Modon's 18 industrial cities, the Saudi Gazette has reported. The agreement aims to provide first-aid service in record time for workers of more than three thousand factories, Modon said.
Falling Abu Dhabi cement prices expected to continue
Prices of Portland cement and sulphate-resistant cement in Abu Dhabi fell almost 7% in October when compared to September, due to falling demand. Al Etihad Portland Cement, which was selling for Dhs330 in late September was priced at Dhs305 a month later, while prices for Al Etihad sulphate-resistant cement fell from Dhs340 to Dhs315 over the same period. Prices are expected to fall further, as there has been no increase in demand and officials told Emirates Business 24/7 that it is likely to take up to 18 months for demand to get back to 2007 levels.
Salalah Methanol enters commissioning phase
The $900m methanol complex at Oman-based Salalah Methanol has entered the commissioning phase, ahead of commercial production which is scheduled for early next year, Oman Observer has reported. It began receiving natural gas supplies last week, a key phase in the plant's development. Once operational in April next year, the plant will produce around 3,000 metric tonnes of methanol per day. It is majority owned by the state-owned Oman Oil and Oman Energy Trading. Methanol is used in manufacturing a wide range of chemicals and end-products, such as acetic acid, formaldehyde and a range of other chemicals and intermediary products that can be further processed into added value commodities.
Foaming plant opens in Saudi Arabia
Saudi Arabia-based Coldstores Group has launched the world's largest foaming plant in the kingdom, Arab News has reported. The plant, which is equipped with a panel manufacturing machine that was designed by Germany-based Krauss Maffei, produces insulated panels and high-quality multipurpose shelters.
Aquatech wins desalination project in Egypt
Aquatech, a water purification technology company has won the contract to design and supply a Multiple Effect Distillation (MED) seawater desalination system for the Abu Qir thermal power plant, commissioned by West Delta Electricity Production Company in Egypt. Aquatech will provide the design, equipment supply, testing, and commissioning of two MED units complete with accessories to produce distilled water. The plant will be located near Alexandria, will use seawater from the Mediterranean Sea to produce pure water with less than 5 mg/l total dissolved solids, and will use plant steam to provide energy to operate the desalination units.
Fertil awards Ruwais fertilizer plant contract
Fertil, (Ruwais Fertilizer Industries) a subsidiary of Abu Dhabi National Oil Company has awarded Samsung Engineering a $1.2bn contract for its fertilizer plant project. Samsung Engineering will execute engineering, procurement, construction and commissioning project on a lump-sum turn key basis. The project is located in Ruwais, 250km west of Abu Dhabi, UAE, and is expected to produce in ammonia and urea by January 2013.
Alumco wins Meena Plaza deal
UAE-based Alumco Group has said that it has won a contract to supply aluminium facades to the Meena Plaza Project in Abu Dhabi. The contract involves the installation of a total of 36,000 square metres of curtain walls and glazing, among which 25,000 square metres of unitized panels and includes about 60,000 square metres of aluminium composite panels.
Jordan Phosphate Mines posts lowered Q3 profit
Jordan Phosphate Mines Company has said that its third-quarter net profit after tax and provisions came to JD81m, compared to JD218m at the end of the same period last year, the Jordan Times has reported. The firm's total assets stood at JD570.1m and its equity rights rose to JD460.4m, compared to JD417.1m at the end of 2008.
Saudi Transformers to build Dammam plant
Saudi Transformers Company and the Belgian Power Systems Company (PSC) have signed a memorandum of understanding for the construction of an SR100m transformer factory, the largest in the Gulf region with a production capacity of about 100 MVA, Arab News has reported. The factory, which will be built in Dammam with the cooperation of PSC, is scheduled for completion by the end of 2010, with production to start in early 2011.
RAK Ceramics Q3 profit up 31%
UAE-based RAK Ceramics, one of the world's largest tile makers, said its third-quarter profits rose 31% to Dhs64.2m ($17.4m), from Dhs49.1m in the same period last year, The National has reported. The firm's total assets at the end of September stood at Dhs4.65bn, slightly higher than Dhs4.5bn reported at the end of last year. 'The profit is largely generated from forward contracts secured from multiple markets,' Hettish Kumar, a Global Investment House analyst told the daily.
Tayf, Ablemarle sign plant deal in Saudi
Saudi Arabia-based Ibn Hayyan Plastic Products Company (Tayf), an affiliate of Saudi Basic Industries Corporation (SABIC), and Albemarle Corporation, a catalysts producer, have entered into a 50-50 joint venture to build a large-scale organometallics catalyst plant in Jubail, Saudi Arabia. The new JV, Saudi Organometallic Chemicals Company, will build a plant that will have the capacity to produce 6,000 metric tonnes of tri-ethyl aluminium equivalents annually. Tri-ethyl aluminium is used primarily as a co-catalyst in Ziegler-Natta type systems for olefin polymerizations.
Averda buys majority stake in Oman's TWM
Averda, a regional environmental services firm, has said it has acquired a 70% stake in Oman-based Technique Waste Management. TWM provides cleaning and waste collection services to the Sultanate's commercial, industrial, residential and public sectors.
ExxonMobile eyes mega petchem complex in Qatar
Qatar Petroleum and Exxon Mobil have signed ana agreement to do progress studies for a proposed large-scale petrochemical complex in Qatar, Gulf Times has reported. 'The proposed project would position Qatar very well in the global petrochemical industry,' ExxonMobil senior vice-president Mark W. Albers told the daily. The complex would be located in Ras Laffan.
It looks like you are using a Mac - check out our 
Web Feeds