Industry

Qatar Fertiliser Company to go ahead with US$3.2 billion expansion plan

Norwegian fertilisers producer Yara International ASA said that its 25%-owned Qatar-based joint venture Qatar Fertiliser Company (Qafco) has decided to invest US$3.2 billion to build two ammonia plants. Qafco has signed a letter of intent regarding the Qafco-5 expansion project with a consortium comprising the Italian company Snamprogetti and the Korean company Hyundai.

Polyserve to set up fertiliser plant in Tanzania

Egypt's Polyserve for Fertilisers and Chemicals Company plans to build a new fertiliser plant in Tanzania, taking advantage of the opportunities in East Africa, according to the company's chairman Sherif al-Gabaly. "The company is expecting decisions from some banks to finance the project, which could become one the largest Egyptian investments in the area," al-Gabaly told NOOZZ.

Drydocks World group now poised to become a marine industry giant

Drydocks World, a subsidiary of Dubai World, has announced that it has successfully completed the setting up of a new group under its umbrella. It is now firmly established as a leading and expanding international player in ship repair, conversion, new building and other marine related activities.

SABIC plans steep boost in MidEast steel output

Saudi Basic Industries Corp (SABIC) will almost triple steel output by 2020 but is not seeking steel acquisitions beyond its home region, despite a global consolidation wave, its chief financial officer said.

Dubai establishes industrial academy

Dubai Industrial City announced the setting up of the Dubai Industrial Academy, a dedicated vocational training centre that will focus on providing a wide range of training solutions to serve the growing needs of the industrial sector in the UAE and the region.

Industries Qatar buys into Mauritania iron project

Industries Qatar said it had bought a minority stake in a Mauritanian iron ore project for US$375m. The state-controlled company said its unit, Qatar Steel Co, would own 49.9 percent of the al-Qalb al-Og project in northern Mauritania.

Dubai invests US$4.4 billion in industrial sector

An official report stated that Dubai has invested in excess of US$4.4 billion in the industrial sector, which comprises 16 percent of the emirate's non-oil GDP and employs 11.2 percent of its workforce. Industrial companies operating in Dubai marked 3252 firms and institutions by the second quarter of this year.