Egypt's National Cement reports 21% rise in nine month profit
Egyptian cement maker, National Cement has reported a 21% rise in nine-month profit to EGP257.2m ($43.25m), compared with a net profit of EGP212.4m in the same period a year earlier, Reuters has reported. The company, majority controlled by state-owned Chemical Industries Holding Co, produces and trades cement, clinker and related construction materials.
Siemens to create over 1,000 Saudi jobs
Siemens is to create 1,000 new jobs in a double investment in the Kingdom. The German company is to build a switchgear manufacturing plant and a service center and when fully operational, the plant is expected to provide 1,000 more jobs for Saudis and international experts. In addition, another 3,000 jobs will be created in the Eastern Province as an indirect result of the company’s plans. In Saudi Arabia Siemens is committed to supporting the careers of young Saudis through targeted professional recruitment programs. This goes along with Siemens program Generation21 that strongly supports educational activities in order to inspire tomorrow’s young scientists or engineers, says Siemens Chief Executive Officer Peter Löscher. “Today, around 50 percent of Saudi Arabia’s population is younger than 25. There is a clear need for good education and for qualified jobs. Apart from our plans for the new production sites, Siemens is strongly engaging with several universities for collaboration and exchange of knowledge,” Löscher told Arab News in an interview. “We are planning to sponsor faculty professors for energy related topics. Training of Saudi nationals is another major focal point, where we have been one of frontrunners in training and hiring candidates with special needs,” he said, adding that Siemens already runs a manufacturing plant for switch gears and a service center in the Kingdom. The new facility will be a hub for the Middle East and will produce gas turbines and rotating equipment. It will also be a workshop for the repair of machinery. This is going to be a gradual development until the site starts operating full steam, he added. The facility will first start assembling turbines for Saudi Arabia, the whole of the GCC (Gulf Cooperation Council) and wider Middle East. “This will benefit the local economy as we plan to build up a local work force. It’s also good for our customers in the Kingdom. For example, Saudi Aramco and Saudi Electricity Co. (SECSEC) will benefit from the new facility as we can better support their operations. Moreover, Siemens’ partnership with SECSEC will help develop specialist-engineering expertise for the whole power industry in Saudi Arabia,” Löscher said. “Siemens is not a new infrastructure partner to Saudi Arabia. We are proud of a history in the country which spans over 75 years. In this period we have grown to more than 1,800 employees,” he added. About the Gulf region, he said: “It’s very important for us and has excellent growth prospects. Our long and continuous presence here is a source of pride and demonstrates our very strong and consistent commitment to the region. Over the years, we have played a key role in helping build the infrastructure in the region. Whether in terms of the power infrastructure, airports, ports, public buildings or hospitals, you are likely to find Siemens almost everywhere,” Löscher said. He added that Siemens has just recently reinforced its commitment to Saudi Arabia by investing millions of euros into a new manufacturing and service facility for gas turbines and other components. The center will be state-of-the-art and produce the latest and sustainable technology. Thus, it will be both a job machine and a center of excellence for engineering. “We also received a major order for the supply of components for the combined cycle power plant at Ras Azour with an associated desalination facility. It will be producing about 225 million imperial gallons of drinking water per day for the five million inhabitants of Riyadh. That makes some 200 liters per inhabitant. “The order volume for Siemens is more than $1 billion. This again proves that the Gulf region is an economic growth engine -- and Siemens is willing to support making the engine run even faster and in a more sustainable way,” Löscher said. When asked about Siemens’ answer to the energy and water hungry world, Löscher said the global amount of power generated would increase by more than 60 percent by 2030. By then, renewable energy systems are due to account for 40 percent of the investments in power plants. Siemens is already No.1 in offshore wind power and leading in solar thermal plants. “In order to meet the growing energy demand you need a mix of innovative energy sources. For example we built a gas turbine, which is not only the largest on earth but also the most energy efficient. A customer in the US ordered six of these record turbines. He expects a net saving of about $1 billion over the whole life cycle. This is both good for the climate and the customer’s wallet,” he added. Innovation is also crucial for providing clean water to the world. With 1.3 billion people lacking safe drinking water worldwide, salt water accounts for over 97 percent of the world’s water stores. We need to make use of this. Due to our intensive research and development desalination plants process saltwater to freshwater with only one megawatt hour of energy per 1,000 liters of water, Löscher said. About the development of future cities, he said: “Cities around the world have to cope with major challenges.” Residents expect a good quality of life. They need clean air to breathe, good water to drink and reliable electricity to power their lives. People need affordable health care. They also need to be mobile and have adequate transportation systems in place. Experts predict cities worldwide will invest around 27 trillion euros in expanding their water, power and transportation systems over the coming 25 years. Thus cities are growth drivers of the future. Yet they also account for the biggest share of CO2 emissions. This makes cities the decisive factor for our climate -- and Siemens is a natural solution partner as we have the largest green portfolio worldwide, Löscher added.
Source: Arab News
Beverage sector in GCC records steady growth
The beverage industry in the Gulf region has seen significant market expansion and increasing demand for its products, show statistics released by the Gulf Organization for Industrial Consultations (GOIC). There are 231 beverage companies in the Gulf Cooperation Council (GCC) member states, half of them (48.9 per cent) in Saudi Arabia, followed by the UAE (27.3 per cent). Bahrain ranks third with 10.4 per cent and then come Oman, Kuwait and Qatar with 7.8, three and 2.6 per cent respectively. GOIC figures show the volume of investments in the beverages industry in the GCC amounted to $2.5 billion (Dh9.1 billion) in 2010. It added that Saudi Arabia’s share of the investments stands at 77.7 per cent or $2.01 billion. The UAE’s share is 10.4 per cent or $270 million, while Kuwait’s investment of $200 million gives it third position with 7.7 per cent of the total Gulf investments. Qatar ranks fourth in the investment ranking with $41 million (1.6 per cent), followed by Oman and Bahrain, $37 million (1.4 per cent) and $29 million (1.1 per cent) respectively. According to the figures, the number of workers in the GCC’s beverage industry is 41,319. Saudi Arabia employs 66.9 per cent of them, followed by the UAE with 15.7 per cent, Kuwait with 7.8 per cent and then Oman, Qatar and Bahrain with 3.9, 2.9 and 2.8 per cent of the workers respectively. The value of the GCC’s beverage exports amounted to $381 million in 2006, jumping to some $535 million in 2007, and to $703 million in 2008. In 2009 the figure was about $696 million. According to GOIC statistics GCC beverage imports jumped from $711 million in 2006 to about $1.05 billion and $1.03 billion in 2008 and 2009 respectively. The figures show that the region’s beverages sector is growing steadily, making it more feasible for investors. GOIC serves as a knowledge-based consulting hub for the development of industry in the region. This is achieved through the provision of data, information and specialized research, consulting and technical services to the public and private sectors, and through the identification and introduction of new industries in the region. Its Industrial Market Information (IMI) service provides different databases, including information on 22,000 factories in the GCC countries and Yemen. The Doha-based organization has linked up with local, regional and global organizations, and institutions from both the public and private sectors, in order to diversify its knowledge and exchange best experiences. Strategic alliances have been made with prominent global and regional organizations in various disciplines.
Source: Gulf News
Emal, Trans Gulf ink new molten metal contract
Emirates Aluminium (Emal) and Trans Gulf, a local manufacturer of aluminium wire rods and aluminium alloy ingots, have signed a new contract recently. Trans Gulf, which will become a neighbor of Emal, in Kizad, Al Taweelah, will receive 50,000 to 80,000 metric tons of molten aluminium per year. Providing Hot metal to the downstream industries, that Trans Gulf will be part of, brings benefits that include the reduction of energy, time and money spent for re-melting. “As Emal gains more neighbours in the planned aluminium cluster at Kizad, around Al Taweelah, we expect that this will become an increasingly attractive option for local companies. This is another important way we are helping downstream manufacturing companies right here in Abu Dhabi,” said Saaed Fadhel Al Mazrooei, president and chief executive of Emal. In addition to the more efficient method of delivery, both companies cited the evergreen nature of agreement as a positive benefit for their companies. “This long term association is incredibly beneficial to both the organizations,” added Uzair Ahmed, director, Trans Gulf Aluminium.
Source: TradeArabia News Service
Samsung Engineering clinches $590m Saudi aluminium complex deal
A joint venture between Saudi Arabian Mining Co (Maaden) and US aluminium giant Alcoa has awarded South Korea’s Samsung Engineering a $590m deal to build part of a huge aluminium complex, Reuters has reported. Samsung already signed in February a letter of intent for engineering, procurement and construction of a rolling mill for the world’s largest fully integrated aluminium complex.
GASCO awards two contracts worth Dhs4bn
Abu Dhabi Gas Industries (GASCO) has signed two Engineering, Procurement, Construction and Commissioning (EPC) contracts worth a total of Dhs4bn for two projects in Habshan and Ruwais, Wam has reported. The two projects, Habshan Sulphur Granulation Plant and Ruwais Sulphur Handling Terminal, are being executed in parallel with Shah - Habshan Ruwais Etihad Rail which is being implemented by Etihad Rail to transport granulated sulphur from Shah and Habshan stations to Ruwais Sulphur export terminal to replace the current transportation of liquid sulphur via trucks to Ruwais.