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Jordan names IFC as rail project consultant
The Jordanian government has appointed the International Finance Corporation (IFC), the private sector arm of the World Bank, as a lead transaction consultant to help attract investors to implement the Amman-Zarqa Light Railway Project. Under the deal, the IFC will review, assess and update the economic, technical, legal and environmental studies that were conducted previously for the project. The project involves putting into service a commuter train running on a 26-kilometre dual-track railway from the city of Zarqa to the Raghadan Station in the kingdom's capital, Amman, on a build-operate-transfer basis for a period of 30 years.
Gulf Energy Maritime receives tanker
Gulf Energy Maritime (GEM), a Dubai-based independent shipping company, has taken delivery of the 'Gulf Coral,' its seventh Panamax tanker and the fleet's 16th vessel. The 75,000 dwt product oil tanker is the last but one vessel to be delivered this year by Hyundai Mipo Dockyard (HMD). It is also the third of four new Panamax vessels scheduled for delivery in 2009.
Qatar Shipping to sell unit for $110m
The board of Qatar Shipping, a marine freight transportation company, has approved an agreement to sell its unit Qatar Engineering and Construction for $110m to a group led by Qatar America Asia. The agreement will be signed shortly, Qatar Shipping said in a statement today.
Cement trucks to be banned on Saudi causeway
Saudi Arabia is set to issue a ban on transporting cement and sand to Bahrain via the King Fahad Causeway in an effort to ease traffic congestion, Saudi Gazette has reported. The move, expected to be implemented from October 1, is expected to lead to the absence of over 200 trucks a day. The decision would not affect Bahrain's construction industry, as the entire amount of 25,000 tonnes weekly quota would still be transported via the sea route between the two countries. The decision would not affect Bahrain's construction industry because the entire amount of 25,000 tons weekly quota would still come in by the sea route. Only 10,000 tonnes were coming in through the causeway.
DP World pulls out of stake sale talks
Dubai-based port operator DP World has said it is not in negotiatons sell a stake in the firm, and talks between its parent company and a regional private equity player were no longer ongoing, Reuters has reported. DP World issued the statement following a media report that private equity firm Abraaj Capital's five-month old talks to buy a stake in the firm collapsed after both companies failed to agree terms.
Abu Dhabi narrows list for metro consultant
The Abu Dhabi Transport Department has drawn up a list of companies from the US, the UK, Australia, Lebanon, France, Spain and Denmark which will compete for the role of consultant to the capital's metro project. The winning firm will carry out a feasibility study, provide initial and detailed designs for the network, stations, safety and security systems and electronic control systems and supervise the eventual construction of the metro. ADTD will award the contract to the selected company once it receives approval from the emirate's Executive Council.
RTA signs bus advice deal with Investment Park
The Public Transport Agency at Roads & Transport Authority in Dubai has signed an agreement with Dubai Investment Park (DIP) to advise it on plans to deploy commuter buses. The bus services would be for employees working at DIP to travel between work and home. It is hoped that by providing buses to exclusively transport employees to and from their places of work it will reduce the number of private vehicles on Dubai roads, the agency said.
Seven to bid for Baghdad subway project
Seven international firms have been selected to bid for the construction of Baghdad, Iraq's subway project in January 2010, Aswat al-Iraq news agency has reported. The companies have been given six months to submit their bids for the project, which is expected cost around $3bn.
Wared Logistics to set up cold storage in Mena
Wared Logistics has announced its partnership with Preferred Freezer Services, provider of cold storage warehouses, to construct and manage refrigerated warehouses throughout Mena. Warehouse facilities are intended for Cairo, Jeddah, and Abu Dhabi. Wared Logistics will provide refrigerated trucking services in each region for delivery to customers, and global trade management, importation, and drayage services to the distribution centers from the Ports-of-Entry.
Dubai Metro opens to public
Dubai's Metro service has opened to the public, with 10 stations along the inaugural Red Line open. Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, bought the first ticket during a ceremony at 9pm on 09/09/09, after which the first train left Mall of the Emirates station. The system cost an estimated Dhs28bn.
Suez revenue drops
Egypt's Suez Canal Authority has said that revenue from the waterway had dropped 26% to $371.8m in August compared to the same month last year, the first monthly drop in revenue since May, Reuters has reported. A total of 1,453 vessels passed through the Suez Canal in the month, compared to 1,521 in July and 1,993 a year earlier, the authority has said.
Agility wins RasGas contract
Agility Public Warehousing Company, a Kuwait-based provider of integrated logistics solutions, has won a multi-million dollar contract from Qatar's Ras Laffan Liquefied Natural Gas Company (RasGas). The contract covers global freight forwarding, transportation and customs clearance for a period of four years, both locally and around the world.
Saudi Emaar to develop port with Binladin
Saudi-based Emaar Economic City, which is leading the development of King Abdullah Economic City on the Saudi Red Sea coast, has signed a deal with Saudi Binladin Group to finance, develop and operate a major port on the Red Sea coast. The first phase of the port will cost SR4bn with operations expected to start in 2012 and have a capacity of 1.7 million containers, the company said. The company did not say if the agreement with SBG meant the cancellation of another initial agreement signed in April, 2008 by EEC with DP World for the same purpose, reported Reuters.
Dubai Metro to see Dhs17bn profit in 10 years
Dubai's Roads and Transport Authority is expecting the Metro to generate up to Dhs17bn ($4.6bn) within the next ten years, Gulf News has reported. Most the projected income will come from the sales of tickets, fines, and the rent and sale of retail outlets within the Metro stations, RTA said.
VIPs only on Dubai Metro on September 9
The launch of the Dubai Metro on September 9th will be limited to a select group of VIPs, Gulf News reported today. The general public will be able to use the rail network beginning at 6am on September 10, an RTA official told the paper. The ruler of Dubai, Sheikh Mohammad Bin Rashid Al Maktoum, will inaugurate the Metro operations on September 9 with the launch ceremony being held at Mall of the Emirates. After the ceremony, Shaikh Mohammad, along with other dignitaries, VIPs and invited guests will ride the first train from Mall of the Emirates station to Al Rashidiya station. There will be ceremonies at selected stations which will be visited by Shaikh Mohammad.
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