Industry

GFH develops US$2bn cement plant

Bahrain's Islamic investment bank, Gulf Finance House (GFH) is developing a US$2 billion cement plant, said to be the biggest in the Middle East and North Africa region.

Called Cemena, it will comprise multiple plants across the region, seven to start with in Bahrain, United Arab Emirates, Syria, Jordan, Yemen, Oman and Libya with an initial production capacity of 12 million tonnes with plans to reach 24 million tonnes.

Qatar to build US$3.2 billion fertiliser complex

The crown prince of gas-rich Qatar laid the cornerstone for a US$3.2 billion ammonia and urea complex to be operated by the Qatar Fertiliser Company (QAFCO). The facility, dubbed QAFCO 5, will include two ammonia plants with a combined capacity of 4,600 tonnes a day and a urea plant with a capacity of 3,850 tonnes a day.

Textile sector gets US$13m grant from industry ministry

Iraq's Ministry of Industry and Minerals announced that it will pump US$13 million into Iraq's state run textile industry, which it oversees, in an effort to return the sector to productivity. The money comes from an American grant for Iraq's ailing industrial sector.

An undisclosed ministry source said the grant will de distributed to all of the ministry's state owned enterprises to purchase modern equipment, raw materials and modernising production lines.

International majors lining up to develop mining sector

Oman's seventh five-year plan's focus on work related to geology, minerals and mining is aimed at building a geographical information system (GIS) database, a world-class minerals laboratory for the benefit of both public and private enterprises, an aggressive minerals exploration programme and development of existing minerals deposits.

Prime - UAE cement sector update

Heightened construction and infrastructure developments, in turn a function of a benign global economic environment over the past 5 years, specifically within the eastern hemisphere, has ignited worldwide cement demand. The subsequent hike in global prices has led to a wave of industry capacity increases, reflected in a 7 percent CAGR between 2003 and 2006, to settle at an aggregate ca. 2,984MTa. Global cement production has meanwhile illustrated a 9 percent CAGR over the same period (2,608MTa 2006a), while utilization rates have leapt 700 bps to ca. 87 percent.

Sohar signs iron ore plant deal with Brazil's Vale

Sohar Industrial Port Company, a joint venture between Oman and the Port of Rotterdam, has signed a land lease agreement with Brazil's mining giant Companhia Vale do Rio Doce (Vale) for an iron ore plant in Oman.

The project is subject to Vale's board approval. The production of iron ore pellets in Sohar is planned to commence in the second half of 2010. This will be the first wholly owned greenfield investment in the ferrous sector outside Brazil for Vale.