Industry

GE signs $200m service deal

GE Energy has announced a multi-year contractual service agreement (CSA) with Emirates Aluminium (Emal), which will become the worlds largest single-site aluminium smelter complex when it opens in April 2010. The CSA will support Emals investment in GE gas turbines and the long-term productivity and efficiency of the turbines. Under the CSA, GE Energy will supply a wide range of services for the gas turbines, which are equipped with its advanced emission control technologies to help Emal reduce its carbon footprint.

Government to offer 3,030 feddans for investors east of Suez Canal

In cooperation with the Ministry of Investment and the General Authority of Industrial Development (GAID), the Technology Valley Scheme (TVS) in Ismailia Governorate will offer a 3,030 feddans investment zone by the end of this year. Naeima Moheb, the director of the TVS, said the new investment zone will have a board of directors that will include representatives from the Ministry of Investment and GAID and will be chaired by the Governor of Ismailia.

Syria-Qatar investment firm to start with $5 bln

The Syrian Qatari Holding Company, set up by the two countries with $5 billion in capital, will invest in Syria's industrial, agricultural and real estate sectors, its chairman said.The company will build and run power plants in Syria and invest in irrigation farms, a fertilizer project, and a medical city among other projects, Nasser Hassan Al-Ansari said, the Doha-based newspaper reported.

Abu Dhabi: Bucking the Trend

Despite weakening global demand for plastics and polymers, Abu Dhabi's chemical investment, which is seen as a key part of the emirate's future economy, remains well placed to become a sustainable growth platform for future economic expansion and diversification. As part of its Economic Vision 2030, released at the beginning of this year, the government of Abu Dhabi outlined its intention to make petrochemicals an important growth engine.

Saudi Maaden to press ahead with smelter, cost falls

Saudi Arabian Mining Co (Maaden) will press ahead with a plan to build an aluminium smelter whose costs had fallen to $8 billion from $10 billion even without a partner, its chief executive said. "The total project is estimated now at $8 billion. The previous estimate was $10 billion," Abdallah al-Dabbagh told reporters on the sidelines of the Euromoney conference in the Saudi capital, Riyadh.

GCC govts strive to bolster the polyolefins market

Recently, the Gulf Cooperation Council (GCC) embarked on a capacity-expansion drive in the polyolefins market to realize its ambition of becoming a major global polyolefins production hub. Based on the current planned addition of new capacities, the GCC polyolefins industry is likely to see an avalanche of additional capacity by 2010. With the GCC polyolefins market being a low-growth one with a corresponding low demand, the additional capacities are expected to create a surge in the demand for polyethylene and polypropylene in the GCC.

Kuwait Pipes Industries, Saudi National Pipe Co win USD 360m contract in Saudi Arabia

Kuwait Pipes Industries & Oil Services (KPIOS), together with Saudi pipe manufacturer National Pipe Co Ltd (NPC), have won a USD 360 million (EUR 264.7m) contract to manufacture carbon steel pipes for Saudi state-run Saline Water Conversion Corporation (SWCC), Kuwaiti Al Qabas daily reported. Under the contract, the two companies will produce 500 km of spiral welded carbon steel pipes for SWCC's Ras al-Zoor - Riyadh water pipeline. The contract is to be executed over a period of 22 months and deliveries are scheduled to start in the fourth quarter of 2009.

CIB-Egypt to arrange syndicated loan for Suez Canal Container Terminal

The Suez Canal Container Terminal has approached a group of local banks for a $542 million loan to finance its stake in the development scheme of the East Port Said Port with more than 200 foreign and Arab investors. The cost of the scheme amounts to LE30 billion.

Oman’s SIUCI starts trial production at new Sohar urea plant

Sohar International Urea and Chemical Industries (SIUCI) has started trial production at its new urea plant in Sohar, Oman, the company said. The plant, which has a granular urea capacity of around 1.2m tonnes/year, was constructed by Mitsubishi Heavy Industries Fertiliser Project Contracting and Construction Co, a subsidiary of Mitsubishi Heavy Industries of Japan. The SIUCI plant was originally set to start production in 2006 but has been delayed by negotiations with local authorities