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Agility seeks Iraq contracts
Tarek Sultan, Chairman and managing director of Agility, the Middle East's largest storage and logistics company, said the company is seeking oil and gas opportunities in Iraq as part of its expansion in emerging markets. 'There are a lot of companies looking to do business in Iraq, but don't know how and need logistical support,' he told Bloomberg. 'Oil and gas customers are looking to partner with companies that know how to do business in Iraq.'
Egyptian firms wins charter contract
The Egyptian Company for Gas Services has signed a charter contract with Deep Sea Supply for its Anchor Handling Tug and Supply Vessel 'Sea Lion' in Egypt. The estimated length of the contract is up to one and a half years, equivalent to that required supporting a two-well drilling program. The total contract value is in excess of $17.5m. The vessel will commence charter mid September 2009.
Dubai to install hidden speed cameras
Dubai police plan to use hidden speed radars under a new initiative to catch 'arrogant' motorists, reported Khaleej Times. The cameras will soon hang from trees, electrical poles or even bridges, capturing speeding drivers, without the flash of a camera bulb to alert drivers they have been caught. Fifteen of the radars, which can detect and shoot speeding cars from 150 metres away, are being tested before being rolled out from July 15, said Brigadier Mohammed Saif Al Zafin, director of General Department of Traffic.
Ajman Free Zone, Ajman Bank ink deal
Ajman Bank has signed a Dhs54m financial agreement with Ajman Free Zone to assist the latter in its multi-million Dirham development plan at the free zone, including the expansion of the Al-Jurf Industrial Area and the completion of Phase 3 of the storage facilities. The agreement is the second to be signed between the Ajman Bank and the Ajman Free Zone Authority within the past few months. Investment at the Ajman Free Zone Authority has now exceeded Dhs1bn.
Agility awarded option year on US Army contract
Agility Defense & Government Services (DGS) has announced that the US Army has awarded a one-year option on the Army's Heavy Lift VI contract. The value of this one-year extension is estimated to be up to $91m. Under the extension, Agility will continue to provide transportation services for military personnel, supplies, and equipment.
Saudi may delay landbridge rail project
Saudi Arabia may delay the $7bn landbridge project to link the east and west coasts of the kingdom by rail, amid speculation the government will step in to wholly fund the plan instead of opting for an initial 50-year build-operate-transfer deal financed through debt, Meed magazine has reported. Asciano, the ports and rail owner spun-out of Toll Holdings, and its seven Saudi Arabian partners who make up the Tarabot consortium, have been selected as the preferred bidder to deliver the project.
Gulftainer wins Borouge logistics deal
Abu Dhabi National Polymers Company (Borouge) ha awarded Sharjah-based ports operator Gulftainer a five-year deal to oversee logistics operations at the company's petrochemicals production complex, Meed has reported. Gulftainer will manage operations at the petrochemicals complex at Ruwais, to provide bagging and packaging services as well as the maintenance of vehicles and equipment at the site.
Nakilat takes delivery of Q-Flex carrier
Qatar's Nakilat has taken delivery of 'Al Kharaitiyat', a Q-Flex carrier, which was built at the Hyundai Heavy Industries shipyard in Ulsan, South Korea. The new carrier will be used to ship LNG produced by Qatargas 3, to markets primarily in the US. Qatargas 3 shareholders are Qatar Petroleum, ConocoPhillips and Mitsui & Company.
Aramex extends foreign ownership
Aramex has announced that foreign investors, including all those who are not nationals of the UAE or the GCC states, may own up to 49% of the company's share capital as of July 1, 2009. This follows ratification by the UAE Ministry of Economy of a resolution approved at a recent Aramex Extraordinary General Meeting, stating that share ownership by GCC and UAE nationals should be treated at par and should not be less than 51% at any time.
Qatar takes over Polish shipyards
The Polish Treasury Minister Aleksander Grad has named QInvest, Qatar's largest investment bank, as the buyer of two state-owned shipyards which had faced bankruptcy amid a long-running row with the European Union over illegal state aid. The Qatar Islamic Bank will guarantee the transaction, he said. Grad has also said that a new company called Polskie Stocznie will now be set up to run the operations of the two shipyards together.
Abu Dhabi unveils air-conditioned bus shelters
Transportation officials in Abu Dhabi said today they plan to build 550 air-conditioned bus shelters across the emirate by 2011. The first 20 air-conditioned shelters in the capital were opened today, while 80 more are scheduled to be delivered by the end of September, the Abu Dhabi Department of Transport said.
Supply ship sinks off Qatar
A Dubai-based supply ship capsized off the Qatari coast yesterday, reported The Peninsula. One person was killed and 29 people are still reported missing. Five people, including the captain, were rescued after the vessel sank near the Doha Channel, about 10 nautical miles off the coast. No cause has yet been determined. The vessel Demas Victory belonged to UAE-based Mid Gulf Offshore Ship Chartering.
Dubai buys 518 feeder buses for metro
Dubai's Roads and Transport Authority has agreed to buy 518 buses to ferry passengers to and from the Dubai Metro. The Dhs1.9bn contract includes an eight-year maintenance contract for the buses, which will be provided by VDL, based in the Netherlands, and managed by UAE-based Swaidan Al Naboodah. The Metro is scheduled to begin operations on September 9.
Dubai to add bus routes to serve Metro riders
Dubai plans to launch 41 new bus routes in the next two months to ferry passengers to and from the Dubai Metro Red Line, reported Gulf News. Mohammad Al Hashemi, the director of planning and business development of the Public Transport Agency at the Dubai Roads and Transport Authority (RTA), said the 41 new bus routes would serve 29 stations on the Red Line. '[The] maximum walk to get to the feeder bus stop will be 500 metres,' he told the daily.
Aramex inks deal with Air Arabia
Aramex has said it has signed a regional cargo agreement with low-cost carrier, Air Arabia. Under the agreement, Aramex shall have access to Air Arabia's cargo facility in Sharjah International airport to operate a sorting hub for express shipments, and will also enjoy an expedited recovery of courier shipments from flights.
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