Utilities
GE Energy wins major Saudi orders
GE Energy, a global leader in energy services, has entered into a series of contracts with Saudi Electricity Company boosting its presence in one of the fastest growing markets of the region.
Leading power major GE Energy has recently signed contracts totalling SR1.875 billion (US$500 million) to supply gas turbines and generators for power plant projects owned by Saudi Electricity Company (SEC), boosting the company’s presence further in the region.
New Turkish dam to reduce Iraq's share in Tigris River waters
An expert at the Water Resources Ministry has stated that Iraq's share in the Tigris River after the construction of the [Turkish] Ilisu Dam within the next three years will drop to 211 cubic metres per second in summer times, depriving the city of Mosul of about 50 percent of its original water share.
The expert at the ministry's General Directorate for Administering Water Resources said that the Ilisu Dam, which is part of the GAP Project [for building 22 dams on the basins of the two rivers within the next 15 years], lies 50 kilometres from the Iraqi border. Once built, he said, the dam will reduce the Tigris River waters by 47 percent a year.
Iberinco constructs electricity substation in Qatar
Iberdrola Ingenieria y Construccion is constructing an electricity substation in Qatar, which will span a total area of around 12,250 square metres. This new substation is part of the combined cycle power plant complex at Mesaieed, Qatar.
The Mesaieed power plant's construction is also being carried out by the Iberdrola subsidiary and is expected to be the largest in the Middle East with an installed capacity of more than 2,000MW.
Suez Tractebel to sell stake in United Power
Suez Tractebel is planning to sell its entire 32.8 percent stake in United Power Company. Pascal Martese, Senior Financial Adviser of Suez Tractebel, said: "We will sell our stake in United Power before March, 2009. This is to comply with our commitment with the government at the time of acquiring Al Ruail Power Company and getting a concession to develop the second phase of Barka power and water project."
Talabani invites China to build electrical stations
President Jalal Talabani urged China to participate in the rebuilding of Iraq’s key infrastructure, namely electrical stations and oil refineries.
Talabani made these statements at the reception of the new Chinese ambassador to Iraq, Chiang-Yi’s credentials. Talabani referred to the depth of historical relations between Iraq and China, expressing his appreciation of the Chinese government’s support of Baghdad and its positive policy towards Iraqi issues. China has recently written off all Iraqi debt.
Wartsila & Manara Consortium forge US$200m JV
Wartsila Corporation, a leading power solutions supplier, and the Manara Consortium (Manara) have formed a unique joint venture - Manara Wartsila Power Ltd (MWP), which aims to become the leading developer of decentralised independent power producer (IPP) projects in Islamic countries. MWP will develop, sponsor and invest in IPPs utilising Wartsila's leading edge reciprocating engine technology.
Manara comprises four leading regional investment groups, who, together with 3i Group plc, have sponsored Manara Infrastructure Fund LP (MIF), a private equity fund created to invest in infrastructure and infrastructure-related growth opportunities in Islamic countries.
Indian firm bags US$20.8m desalination project in Oman
Leading Indian water technology specialist VA Tech Wabag has won a contract worth OR8 million (US$20.8 million) to build a water desalination plant in Oman.
The company signed an agreement with Oman's Rural Areas Electricity Company (RAEC), a subsidiary of the state-owned Electricity Holding Company SOAC, to build the plant in Duqm, in central eastern Oman, on an engineering-procurement-construction basis.
Sumitomo says consortium winning US$5bn Saudi project
Japanese trading house Sumitomo Corp said its consortium has won preferential rights to join a 500-600 billion yen (US$4.7-5.7 billion) power and water desalination project in Saudi Arabia.
A spokesman for Sumitomo, which leads the consortium, said Malaysian power provider Malakoff Bhd and Saudi Arabia's al-Jomaih group are also in the consortium. The Saudi government will take a 40 percent stake in the plant, to be located northeast of Riyadh, and the three companies will hold 20 percent each.