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MEED
October 2006

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  • 101 Marina tower award

    The local Middle East Foundations has won the foundations package on the 101 Marina tower project in Dubai Marina. The 101-storey structure will be 412 metres high with a total built-up area of 144,000 square metres. The local National Engineering Bureau (NEB) is the consultant. Local property developer Sheffield Real Estate, in joint venture with Russia's Rustar Real Estate, is the client (MEED 28:4:06).

  • Abbas could dissolve government

    Palestinian Authority (PA) President Abbas on 4 October indicated he may dissolve the Hamas-led administration, adding that talks over the formation of a unity government had failed. 'My constitutional powers, granted by the basic law, will be used in [the appropriate] time,' he said. 'The dialogue now does not exist.'Abbas was speaking before he was due to meet US Secretary of State Condoleezza Rice who is on a week-long tour of the region. 'It is very necessary that we i

  • ABS wins Ahmadi work

    The US' ABS Consulting has won a 90-day contract to carry out a quantitative risk and environmental impact assessment for the proposed redevelopment of the Ahmadi oil township. Kuwait Oil Company (KOC) invited in late August developer groups to submit expressions of interest for the estimated $1,724 million concession, but withdrew the invitation pending a project review (MEED 1:9:06).

  • Abu Dhabi calls taxi firms

    Abu Dhabi's taxi transport regulation centre has invited companies to prequalify for franchises to operate taxis in the capital. Tenders are expected by the end of the year and an award is due by the first quarter of 2007. Operations will start in the third quarter of 2007.Abu Dhabi's existing taxi fleet will be replaced over three-five years by new vehicles operated by the new franchisees.

  • Abu Dhabi plans villas

    The Abu Dhabi government plans to build 18,000 villas for nationals in Abu Dhabi and Al-Ain. The scheme is expected to involve an investment of AED 22,000 million ($6,000 million) and will be implemented over the next five years. The government has also signed agreements with three local developers to build an additional 13,000 villas for nationals. The developers include the local Aldar Properties and Al-Qudra Real Estate, part of Al-Qudra Holding.

  • Abu Dhabi sewerage: Tunnel visions

    Since its creation in 1998, Abu Dhabi Water & Electricity Authority (ADWEA) has become the standard-bearer for utility privatisation in the Gulf. Over the past decade, it has transformed the way new projects are built and financed and provided a strong incentive for other Gulf utilities to take the privatisation route.

  • Abu Dhabi sewerage: Tunnel visions

    Since its creation in 1998, Abu Dhabi Water & Electricity Authority (ADWEA) has become the standard-bearer for utility privatisation in the Gulf. Over the past decade, it has transformed the way new projects are built and financed and provided a strong incentive for other Gulf utilities to take the privatisation route.

  • Abyaar: La dolce vita in Dubai

    It takes something special to distinguish one real estate developer from another in the crowded market that is Dubai, but Kuwait-based Abyaar believes it has got what it takes. After launching its first two real estate projects in the Dubai Marina, the newly established developer is set to make two huge announcements over the coming 12 months as it seeks to become a major player in the emirate.

  • Acetyls close approaches

    Financial close is due to be reached by mid-November on the $550 million, 12-year debt package for the Saudi International Petrochemical Company (Sipchem) acetyls plant project. Nine MLAs were appointed in July and a limited syndication is expected. HSBC with SABB is advising (MEED 14:7:06).

  • ADNEC chills out with Tabreed

    Abu Dhabi National Exhibition Company (ADNEC) has signed an agreement with the local National Central Cooling Company (Tabreed) to provide district cooling services to its new developments. The contract calls for the supply of 16,716 tonnes of refrigeration for ADNEC's new developments, which include 14 exhibition halls and one mixed-use tower. The cooling will be provided in three phases. The first phase, which will provide 8,700 tonnes of refrigeration, will be ready by January 2007 (MEED 5

  • ADNEC chills out with Tabreed

    Abu Dhabi National Exhibition Company (ADNEC) has signed an agreement with the local National Central Cooling Company (Tabreed) to provide district cooling services to its new developments. The contract calls for the supply of 16,716 tonnes of refrigeration for ADNEC's new developments, which include 14 exhibition halls and one mixed-use tower. The cooling will be provided in three phases. The first phase, which will provide 8,700 tonnes of refrigeration, will

  • Advisers to urge change in Iraq policy

    A panel of White House advisers is expected to urge the US government to change its policy on Iraq, according to media reports. Former US Secretary of State James Baker, who leads the commission, told the LA Times that the shift could include substantial troop withdrawals. The taskforce, which is made up of both Republicans and Democrats, was asked to evaluate the effectiveness of US policy in Iraq by the US Congress. It is reportedly mulling two options - the phased pullo

  • Aker ties up umbilicals

    The UK's BG Group has awarded Norway's Aker Kvaerner the $19.3 million contract for the supply of five steel tube umbilicals totalling 43 kilometres for the offshore Rosetta phase 3 gas development. Delivery of the pipelines is expected by late 2007. BG Group made the award through its local joint venture, Rashid Petroleum Company , Egypt's largest upstream gas operator and the sister to Burullus Gas Company . The contract follows the award of Burullus' $400 million offshore expansion package to

  • Alba debates offers

    Aluminium Bahrain (Alba) has asked banks to extend the validity of their offers until 31 October on its planned $700 million refinancing, allowing the company more time to review closely priced offers. Two groups of banks are understood to have submitted proposals and a small number of institutions submitted individual bids. Pricing is expected to end up well under 75 basis points. The deal would cover the commercial and metals tranches of the overall $1,700 million financing, taken out in 2002,

  • Al-Babtain stock is priced

    Al-Babtain Power & Telecommunication Company has released details of its initial public offering (IPO), which is due to run from 4-13 November. On offer will be 30 per cent of the company's capital, with about 8.1 million shares priced at SR 40 ($10.67) each.Minimum subscription is 10 shares and the maximum is 25,000. HSBC is the financial adviser and lead manager and SABB is the lead underwriter. The Capital Market Authority (CMA) approved the IPO in early October along with two others

  • Aldar appoints managers

    Local real estate developer Aldar Properties has made key appointments on two of its developments in Abu Dhabi. It has appointed a project management consultant for a new resort development in the Al-Bateen area and selected a contractor to build roads at its Raha Gardens development.

  • AlexFert gears up for Abu Qir expansion

    Alexandria Fertilisers Company (AlexFert) is developing plans for a major expansion of its urea/ammonia plant at Abu Qir. The $600 million expansion, subject to the finalisation of a feedstock agreement with Egyptian Natural Gas Holding Company (EGAS), will add 2,000 tonnes a day (t/d) of ammonia and 3,300 t/d of granulated urea at the site by 2010.

  • AlexFert gears up for Abu Qir expansion

    Alexandria Fertilisers Company (AlexFert) is developing plans for a major expansion of its urea/ammonia plant at Abu Qir. The $600 million expansion, subject to the finalisation of a feedstock agreement with Egyptian Natural Gas Holding Company (EGAS), will add 2,000 tonnes a day (t/d) of ammonia and 3,300 t/d of granulated urea at the site by 2010.

  • Algiers begins minerals sale

    Algiers is set to introduce the first private participation into its mining sector with the imminent sale of two subsidiaries of state mining company Entreprise Nationale des Produits Miniers Non-Ferreux et des Substances Utiles (Enof).

  • Algiers begins mines sale

    Algiers has launched the sale of three of the six subsidiaries of state mining company, Entreprise Nationale des Produits Miniers Non-Ferreux et des Substances Utiles (Enof), as part of plans to privatise the majority of the country's state-owned companies.

  • Algiers begins mines sale

    Algiers has launched the sale of three of the six subsidiaries of state mining company, Entreprise Nationale des Produits Miniers Non-Ferreux et des Substances Utiles (Enof), as part of plans to privatise the majority of the country's state-owned companies.Investors have until 31 October to submit expressions of interest in the acquisition of a majority stake in barite and non-metallic minerals company Societe des Mines de Baryte d'Algerie (Somibar), feldspar company Societe des Feld

  • Algiers confirms Sonatrach control

    The Algerian national assembly (parliament) on 14 October endorsed a new law to cement the dominant role of the state-owned oil and gas company, Sonatrach. The new legislation ensures Sonatrach will take at least 51 per cent share in every oil and gas exploration contract awarded to international oil companies (IOCs). Sonatrach will also own at least 51 per cent of every oil refinery joint venture. 'It is a gain for the public good as that (law) will reinforce the state's

  • Algiers confirms Sonatrach control

    The Algerian national assembly (parliament) on 14 October endorsed a new law to cement the dominant role of the state-owned oil and gas company, Sonatrach. The new legislation ensures Sonatrach will take at least 51 per cent share in every oil and gas exploration contract awarded to international oil companies (IOCs). Sonatrach will also own at least 51 per cent of every oil refinery joint venture. 'It is a gain for the public good as that (law)

  • Algiers reverses hydrocarbons law

    Parliament has approved government plans to remove the right of international oil companies (IOCs) to hold a controlling stake in upstream projects.

  • Alhokair IPO looms

    Fashion retailerFawaz Abdulaziz Alhokair & Companyreleased the prospectus for its upcoming initial public offering (IPO) in late September, promising shares worth SR 1,320 million ($352 million), reserved for nationals. Days later, prospects for the sale's success were given a boost by a fatwa condoning the IPO.On offer from 7-16 October will be 12 million shares equivalent to 30 per cent of Alhokair's capital - priced at a par value of SR 10 ($2.70). Minimum investment is 10 shares and

  • Al-Jaber beachfront resort

    The local Al-Jaber Group has bought a 75,000 square-metre beachfront site on Saadiyat island and plans to develop a resort. The project will involve the construction of a 400-room hotel overlooking 300 metres of beach. Construction is expected to start by the end of this year. The resort is the third to be launched on Saadiyat island. Saadiyat will be developed by Tourism Development & Investment Company (TDIC), a wholly-owned subsidiary of the Abu Dhabi Tourism Authority (ADTA), in three pha

  • Al-Khodary prepares corridor

    The local Al-Khodary Sons Company has been awarded an estimated SR 114 million ($30 million) contract to debottleneck pipeline corridors in Jubail. The client is the Royal Commission for Jubail & Yanbu.

  • Al-Mazaya buys in Liwan

    Kuwait's Al-Mazaya Holding Company has bought 30 of the 100 plots in the 1.3 million-square-metre Liwan development, formerly known as Frisco Ridge. Project costs are expected to be AED 1,250 million ($340 million). Mizin, part of Dubai Holding, is the master developer (MEED 4:8:06).

  • Almost 500 vie for expert assembly seats

    A total of 495 candidates have registered to stand for election to the 86-member Assembly of Experts in December. The assembly oversees the work of Iran's Supreme Leader Ayatollah Ali Khamanei. 'A total of 495 people have presented themselves as candidates, an increase of 100 per cent compared to the last election [in 1998], Interior Minister Moustafa Pour-Mohammadi said on 12 October. The candidates include the moderate former President Rafsanjani and the ultra-conservati

  • Al-Muhairy wins Dubai roads

    Dubai's Roads & Transport Authority (RTA) has awarded the local Al-Muhairy General Contracting Company an estimated AED 171 million ($47 million) contract for road works in the Muhaisnah and Mizhar areas. Al-Muhairy was low bidder for the retendered contract when bids were submitted in late August. The UK's Hyder Consulting is the consultant.The RTA has also extended the closing date to 2 November for the first phase of the parallel roads scheme after it received just one bid from a join

  • Al-Rayyan plans smart city

    Recently formed Al-Rayyan Bank has appointed Singapore's Jurong International to prepare a feasibility study on the establishment of a hub for technology companies in the state, at an estimated cost of $2,000 million.

  • Al-Rayyan plans smart city

    Recently formed Al-Rayyan Bank has appointed Singapore's Jurong International to prepare a feasibility study on the establishment of a hub for technology companies in the state, at an estimated cost of $2,000 million.

  • Al-Redwan takes hotel

    The local Al-Redwan Trading & Contracting has been awarded the estimated SR 100 million ($27 million) contract to build a new five-star hotel in Mecca. It calls for the construction of a 266-bed property. The local Mohammed Harasni Architects is the design consultant. Al-Eissa Real Estate is the client.

  • Al-Shafar gains Vision deal

    The local Al-Shafar General Contracting Company has been awarded the estimated AED 400 million ($109 million) main construction package on the Vision tower project at Business Bay.The 60-storey residential tower will have a total built-up area of 115,000 square metres and will have a translucent structure that will be internally lit. The parking area will provide spaces for more than 1,400 cars.The tower will be connected by a covered passageway to the Bay Avenue area of

  • Al-Shafar gains Vision deal

    The local Al-Shafar General Contracting Company has been awarded the estimated AED 400 million ($109 million) main construction package on the Vision tower project at Business Bay.

  • Al-Waha finance signed

    The financing agreements have been signed with a six-strong group of mandated lead arrangers (MLAs) on the debt package for the Al-Waha polypropylene and propane dehydrogenation project being developed in Jubail by the local Sahara Petrochemical Company. The $530 million commercial facility has a tenor of 10 years. A limited syndication is possible. The Public Investment Fund and the Saudi Industrial Development Fund are also extending loans. HSBC with SABB is the financial adviser (MEED 30:6

  • Al-Waha finance signed

    The financing agreements have been signed with a six-strong group of mandated lead arrangers (MLAs) on the debt package for the Al-Waha polypropylene and propane dehydrogenation project being developed in Jubail by the local Sahara Petrochemical Company. The $530 million commercial facility has a tenor of 10 years. A limited syndication is possible. The Public Investment Fund and the Saudi Industrial Development Fund are also extending loans. HSBC with SABB is the financial adviser (MEED

  • Al-Wefaq publishes candidate list

    The kingdom's largest Shia political grouping, Al-Wefaq National Islamic Society, on 5 October published the list of its first 16 candidates who will stand in November's elections to the National Assembly (parliament) - becoming the first party to do so. Al-Wefaq boycotted the first parliamentary elections under the new constitution in 2002, but after heated debate and the loss of some key members, decided in May to take part this time round. The final three candidates that the group pla

  • Amman mulls building a pipeline to Zarqa

    The Energy & Mineral Resources Ministry is considering plans to build a $350 million crude oil pipeline from the southern port of Aqaba to the kingdom's sole crude refinery at Zarqa as part of a $1,250 million project to modernise and expand the facility (MEED 7:7:06).The news follows a review by the ministry of five options to supply the refinery with crude oil that included: transporting crude overland from Iraq by road or pipeline; importing oil through an existing pipeline from S

  • Amman mulls building a pipeline to Zarqa

    The Energy & Mineral Resources Ministry is considering plans to build a $350 million crude oil pipeline from the southern port of Aqaba to the kingdom's sole crude refinery at Zarqa as part of a $1,250 million project to modernise and expand the facility (MEED 7:7:06).

  • Amman recalls ambassador from Doha

    Amman on 3 October recalled its ambassador from Doha for consultations over Qatar's failure to back Jordan's candidate for the post of UN Secretary-General. Qatar's Foreign Affairs Minister Sheikh Hamad bin Jassem bin Jabr al-Thani said the country had earlier announced it would support the candidate from Thailand before switching its backing to South Korea. The decision to support South Korea was taken before Jordan fielded its candidate. Tensions rose after Qatar on 1 Oc

  • AMMAN: Expanding city

    Amman is running out of space. The city's distinctive low-rise buildings cover the surrounding hills, and traffic clogs the main roads and roundabouts. Since its establishment in the 1920s, Jordan's capital has had to accommodate large influxes of Palestinian refugees: in 1948, in 1967 and in 1991, after former Iraqi president Saddam Hussein's invasion of Kuwait. The most recent influx of new arrivals has come in the wake of the war in Iraq, with aid agencies, security firms and contractors as

  • Amman-Zarqa rail project retendered

    The Public Transport Regulatory Commission (PTRC) has called for expressions of interest (EoIs) from international companies for the build-operate-transfer (BOT) contract for a new light rail system between Amman and Zarqa. The PTRC is retendering the contract after fewer companies than expected replied to its previous request for proposals last October. Seven international companies were originally shortlisted to bid (MEED 3:3:06).

  • Amman-Zarqa rail project retendered

    The Public Transport Regulatory Commission (PTRC) has called for expressions of interest (EoIs) from international companies for the build-operate-transfer (BOT) contract for a new light rail system between Amman and Zarqa. The PTRC is retendering the contract after fewer companies than expected replied to its previous request for proposals last October. Seven international companies were originally shortlisted to bid (MEED 3:3:06).The lack of government subsidies towards the projec

  • Ammico wins Gate scheme

    The local Ammico Contracting Company has been awarded the first package on the The Gate mixed-use development in West Bay. Placed by local developer Salam Bounian, the contract covers excavation, piling, dewatering and other works.

  • Amwaj projects accelerate

    The Amwaj Gateway and Lagoon projects, both part of the Amwaj Islands resort off the coast of Muharraq, are approaching the main construction phase. The local Ossis Property Developers is the overall developer.

  • Analysis: Feedstock alternatives

    In a region that controls about 40 per cent of the world's reserves and can count among its ranks four out of the top five biggest reserve holders, gas should not be an issue for the Middle East power industry. But in recent months, gas availability has become an increasing cause for concern, as competition for finite supplies intensifies. Earlier in the year, a royal decree was issued in Saudi Arabia stating that all future coastal power plants must use crude, rather than gas, feedstock. Tha

  • ANB/Sabic bond issues due

    Bond issues are approaching by bothArab National Bank (ANB)andSabic Europe, the Netherlands-based subsidiary ofSaudi Basic Industries Corporation (Sabic).

  • Aqaba marine services awarded

    A consortium of Sharjah-based Lamnalco Group and Jordan National Shipping Lines has been awarded the 15-year contract to rehabilitate, equip, finance, operate and transfer the marine service assets at the port of Aqaba. The consortium will form a joint venture with Aqaba Development Corporation (ADC) to provide piloting and mooring services, operate tugs and barges and to oversee the operation of the marine slipway. The contract is in line with ADC's strategy to attract private sector involve

  • Aref loan flies

    Syndication closed heavily oversubscribed in late September of a $100 million, three-year murabaha facility forAref Investment Group, a subsidiary ofKuwait Finance House. The borrower is now mulling whether to raise the size of the facility, which is priced at 150 basis points, and is hoping to sign the transaction before Eid.ABC Islamic Bank andStandard Chartered Bank are the mandated lead arrangers (MLAs MEED 22:9:06).

  • Aromatics goes long

    Sweden's Alfa Laval has won an $8.8 million contract to supply heat exchangers to the new Aromatics Oman (AOL) plant at Sohar industrial port. The deal is one of several long-lead orders placed by AOL for the plant, which will begin commercial production in 2009. The $1,600 million plant will produce 814,000 tonnes a year of paraxylene and 210,000 tonnes of benzene (MEED 21:7:06).

  • Asad invited to address Knesset

    Israeli Vice Prime Minister Shimon Peres has invited Syrian President Asad to visit Jerusalem and address the Knesset (parliament) if he is serious about holding peace talks with Tel Aviv. 'If he says 'I want a meeting', I am sure Israel will say 'Very well, let us meet and talk,' Peres said. 'Why can't Assad do what others have done? Sadat came here.'Asad on 9 October said Syria and Israel could coexist in peace, with each side recognising the other's right to exist. A da

  • Asad invited to address Knesset

    Israeli Vice Prime Minister Shimon Peres has invited Syrian President Asad to visit Jerusalem and address the Knesset (parliament) if he is serious about holding peace talks with Tel Aviv. 'If he says ‘I want a meeting', I am sure Israel will say ‘Very well, let us meet and talk,' Peres said. 'Why can't Assad do what others have done? Sadat came here.'Asad on 9 October said Syria and Israel could coexist in peace, with each side recog

  • AUB gets IFC loan

    The International Finance Corporation (IFC), the private sector arm of the World Bank, is planning to extend $200 million in financing for the acquisition by a consortium led by Ahli United Bank (AUB) of an 89.3 per cent stake in Egypt's Delta International Bank. The IFC will take a 10 per cent stake in Delta as well as providing a 10-year, tier 2 convertible subordinated term loan to AUB. Board approval is expected in November. The expansionist Bahrain-based bank bought a majority holding in De

  • August 2007 opening for Movenpick Ramallah

    Ramallah-based Arab Hotels Company (AHC) has completed 95 per cent of the superstructure work on the five-star Movenpick Ramallah hotel. A soft opening is planned for August 2007. In 2005, AHC signed an agreement with the Palestinian Real Estate Investment Company (Aqaria) to build and furnish the hotel. It will include 220 rooms and a roof business lounge. Tenders for landscaping works and furniture, fixtures and equipment are due to be issued shortly. Al-Quds Bank, Aqaria and Padico are shareh

  • August 2007 opening for Movenpick Ramallah

    Ramallah-based Arab Hotels Company (AHC) has completed 95 per cent of the superstructure work on the five-star Movenpick Ramallah hotel. A soft opening is planned for August 2007. In 2005, AHC signed an agreement with the Palestinian Real Estate Investment Company (Aqaria) to build and furnish the hotel. It will include 220 rooms and a roof business lounge. Tenders for landscaping works and furniture, fixtures and equipment are due to be issued shortly. Al-Quds Bank, Aqaria and Padico are shareh

  • Awards flow for waterworks

    The Public Works Authority (Ashghal) has awarded five contracts, totalling QR 481 million ($133 million), for the upgrade of the water distribution network.

  • Azzawiya seeks lubes

    Azzawiya Oil Refining Company (ARC) is seeking international companies to supply materials, know-how and technical services for its lubricating oils blending plant at Azzawiya. The contract covers the supply of base oils and additives which are blendable to produce lubricant oils. ARC has also invited bids for the supply of boiler tube bundles. Bids are due by 31 October.

  • Baghdad blasts kill 13

    At least 13 people were killed and 75 wounded in a series of explosions in the south of Baghdad on 4 October. The blast tore through a market area in the predominantly Christian Sarah district of the capital. A car bomb detonated followed by two roadside bombs. An Industry Ministry convoy was in the area when the bombs exploded, officials told Reuters. Industry Minister Fawzi al-Hariri was not with the convoy at the time of the blasts. Three of his bodyguards were among the dead.

  • Baghdad extends licences

    The Communications & Media Commission (CMC) has extended until 31 December the licences of the existing three foreign operators, consortiums led by Egypt's Orascom Telecom and MTC and Wataniya Telecom, both of Kuwait, which expired on 31 September. CMC is negotiating with 18 prequalified groups for the three remaining mobile licences after awarding the first to state-owned Iraqi Telephone & Postal Company (ITPC) in early September (MEED 15:9:06).

  • Baghdad fire caused by mortar

    The US military on 11 October said that a massive fire at an army bases' ammunition store in Baghdad was caused by a mortar fired by insurgents. No casualties were reported as a result of the blaze which triggered numerous blasts and explosions. 'Intelligence indicates that civilians aligned with a militia organisation were responsible for last night's mortar attack, Lieutenant Colonel Jonathan Withington, a spokesperson for the base said. Also on 11 October, a study by a

  • Baghdad fire caused by mortar

    The US military on 11 October said that a massive fire at an army bases' ammunition store in Baghdad was caused by a mortar fired by insurgents. No casualties were reported as a result of the blaze which triggered numerous blasts and explosions. 'Intelligence indicates that civilians aligned with a militia organisation were responsible for last night's mortar attack, Lieutenant Colonel Jonathan Withington, a spokesperson for the base said. Also o

  • Baghdad gets the credit

    Citigroup has been appointed arranger on a $70 million structured credit facility for Trade Bank of Iraq (TBI). The US government's Overseas Private Investment Corporation (OPIC), which encourages US private sector investment abroad, and ING Bank are also partners in the facility, known as the Import LC Trust. The trust will allow lenders in Iraq to extend letters of credit (LCs) without the previously required cash backing. TBI provides trade finance to clients, which include government mini

  • Baghdad gunmen abduct 14

    Camouflaged gunmen in Baghdad on 2 October abducted at least 14 shoppers from a computer store before driving off in what appeared to be licence plate-less government security vehicles. The incident has fuelled local fears that the security forces have been infiltrated by sectarian groups. The attack comes one day after gunmen forced 26 workers into a chilled meat van and drove them off from a food-processing factory in the city. In a separate development, police reports said t

  • Baghdad plans local units

    State Company for Oil Projects (SCOP) opened in mid-October a new 10,000-barrel-a-day (b/d) refinery in Najaf.

  • Baghdad security operation has failed, says US

    The US military on 20 October announced that its security crackdown in Baghdad has failed to reduce violence levels. US military spokesperson Major General William Caldwell said the Iraq capital had witnessed a 'disheartening' 22 per cent increase in attacks since the end of September. Thousands of additional soldiers were deployed in Baghdad as part of Operation Together Forward, which was launched in June. Caldwell said the number of attacks on Iraqi and US troops had in

  • Baghdad security operation has failed, says US

    The US military on 20 October announced that its security crackdown in Baghdad has failed to reduce violence levels. US military spokesperson Major General William Caldwell said the Iraq capital had witnessed a 'disheartening' 22 per cent increase in attacks since the end of September. Thousands of additional soldiers were deployed in Baghdad as part of Operation Together Forward, which was launched in June. Caldwell said the number of attacks on

  • Bahrain gets first female MP

    Latifa al-Gaoud became Bahrain's first elected female MP as registration for 25 November elections closed on 16 October. Al-Gaoud was the only candidate to register from her constituency, giving her an uncontested seat in parliament. 'Only [Latifa al-Gaoud] remained as a candidate in the seventh constituency, making her a winner by law,' said Ahdeyah Ahmed, a spokesperson for the election high committee. Some 221 candidates, including 18 women, are competing for seats in t

  • Bahrain gets first female MP

    Latifa al-Gaoud became Bahrain's first elected female MP as registration for 25 November elections closed on 16 October. Al-Gaoud was the only candidate to register from her constituency, giving her an uncontested seat in parliament. 'Only [Latifa al-Gaoud] remained as a candidate in the seventh constituency, making her a winner by law,' said Ahdeyah Ahmed, a spokesperson for the election high committee. Some 221 candidates, including 18 women, a

  • Bank Alex sale delayed

    The six banks interested in acquiring the government's 80 per cent stake inBank of Alexandria (BoA)have been given until 16 October to submit their bids. The delay from the original deadline of 25 September had been widely expected after the finalists were reported to have had problems obtaining the necessary bid documents. The shortlisted banks are: Arab Bank with Arab National Bank; Mashreqbank with Dubai Investment Group; BNP Paribas; Commercial International Bank (CIB); Sanpaolo IMI; and

  • Bank Alex sale delayed

    The six banks interested in acquiring the government's 80 per cent stake inBank of Alexandria (BoA)have been given until 16 October to submit their bids. The delay from the original deadline of 25 September had been widely expected after the finalists were reported to have had problems obtaining the necessary bid documents. The shortlisted banks are: Arab Bank with Arab National Bank; Mashreqbank with Dubai Investment Group; BNP Paribas; Commercial International Bank (CIB); Sanpaolo IMI; and EFG

  • Banks flock to Nakilat deal

    A 22-strong group of mandated lead arrangers (MLAs) has been appointed on the bank tranche of the first phase of the financing programme for Qatar Gas Transportation Company (Nakilat) . The pricing ended up very tight, at exactly the model put forward by the sponsor.

  • Banks head for Algeria

    Commercial International Bank (CIB) announced on 18 October the signature of a memorandum of understanding (MoU) with Egyptian and UAE investors for the establishment of a bank in Algeria. It followed the CIB's loss the previous day in its bid to acquire Bank of Alexandria (see page 31). On the same day, Bahrain-based Al-Salam Bank published details of its plans for a $100 million Islamic bank headquartered in Algiers, part of wider expansion plans in emerging markets that last year saw the bank

  • Barka 2 developer chosen

    A group headed by Belgium's Suez Tractebel has been named preferred bidder on the Barka 2/Rusayl independent water and power project (IWPP) in Oman. Foreign developer selection is also close on the Mesaieed independent power project (IPP) in Qatar, with Japan's Marubeni Corporation the frontrunner, while revised proposals were due on 4 October for the Jubail IWPP in Saudi Arabia (MEED 29:9:06).Tractebel beat off competition from Marubeni on Barka 2/Rusayl. The next step in the projec

  • Barka 2 developer chosen

    A group headed by Belgium's Suez Tractebel has been named preferred bidder on the Barka 2/Rusayl independent water and power project (IWPP) in Oman. Foreign developer selection is also close on the Mesaieed independent power project (IPP) in Qatar, with Japan's Marubeni Corporation the frontrunner, while revised proposals were due on 4 October for the Jubail IWPP in Saudi Arabia (MEED 29:9:06).

  • Barzani counters Baghdad oil threat

    Nechirvan Barzani, Prime Minister of the Kurdistan Regional Government (KRG), has once again ruled out any 'federal interference' in upstream contracts signed with international oil companies (IOCs) by the region's Natural Resources Ministry (NRM).'I resent [Iraq Oil Minister Hussein] al-Shahristani's efforts to sabotage foreign investment in our oil sector,' he said on 27 September. 'Oil and gas are not among the exclusive powers of the federal government. The constitutio

  • Bechtel tipped for Abu Dhabi smelter contract

    US-based Bechtel is frontrunner for the contract to carry out the feasibility study and design of a grassroots smelter in Ruwais, western Abu Dhabi.

  • Belbadi wins Business Bay

    Abu Dhabi-based Emirates Belbadi has been awarded the estimated AED 200 million ($54 million) main construction contract for the One Business Bay tower project at Business Bay.

  • Bid teams line up for Queen Alia airport upgrade project

    Six international consortiums have been shortlisted to bid for the build-operate-transfer (BOT) contract to upgrade and expand Queen Alia International Airport (QAIA) near Amman.

  • Bid teams line up for Queen Alia airport upgrade project

    Six international consortiums have been shortlisted to bid for the build-operate-transfer (BOT) contract to upgrade and expand Queen Alia International Airport (QAIA) near Amman.

  • Bidders offer prices for Khurais pipeline

    Local and international companies submitted commercial and technical bids on 9 October to Saudi Aramco for the downstream gas pipeline package on the Khurais crude increment programme. Estimated to be worth $125 million-150 million, the lump-sum turnkey (LSTK) contract covers the installation of a 145-kilometre-long, 38-inch-diameter pipeline from the central processing facility at Khurais to Shedgum (MEED 11:8:06).

  • Bidders offer prices for Khurais pipeline

    Local and international companies submitted commercial and technical bids on 9 October to Saudi Aramco for the downstream gas pipeline package on the Khurais crude increment programme. Estimated to be worth $125 million-150 million, the lump-sum turnkey (LSTK) contract covers the installation of a 145-kilometre-long, 38-inch-diameter pipeline from the central processing facility at Khurais to Shedgum (MEED 11:8:06).The bidders include: Lebanon's Contracting & Trading Company (CAT); T

  • Bids in for Abu Dhabi transport study

    Abu Dhabi's Municipalities & Agriculture Department has received bids for an integrated public transport masterplan. The 15-20-month study covers the design of a public transport network for Abu Dhabi island and surrounding areas and the preliminary design of a proposed mass transit/monorail system. The bidders include: US-based Maunsell Aecom, France's MVA Systra with US-based Parsons International, and US-based Parsons Brinckerhoff. A number of major developments have been launched in the c

  • Bids in for Ibn Zahr OCU

    At least three international engineering, procurement and construction (EPC) contractors submitted bids in late September for the $100 million-150 million contract to build the new olefins conversion unit (OCU) at the Saudi European Petrochemical Company (Ibn Zahr) polypropylene (PP) complex in Jubail. Commercial offers are due on19 October and an award byyear-end (MEED 18:8:06).

  • Bids in for Infinity

    Bids have been submitted by three groups for the main construction contract on the proposed Infinity tower project at Dubai Marina. The bidders include Saudi Oger, the local Arabtec Construction and the local/Lebanese Arabian Construction Company (ACC). The 75-storey structure will be mainly residential, with some retail outlets. Bahrain-based Projacs International is the project manager. The US' Skidmore, Owings & Merrill is the architect (MEED 14:10:05).

  • Bids in for Jebel Dhanna

    The local National Petroleum Construction Company (NPCC) is the low bidder for the engineering, procurement and construction contract to build new crude oil storage tanks at Jebel Dhanna in Abu Dhabi. Its $200 million offer is about 1.5 per cent lower than the quote from Turkey's Tekfen. The UK's Whessoe Oil & Gas has quoted about $210 million. The Abu Dhabi Company for Onshore Oil Operations (Adco) contract includes the construction of storage tanks with capacity of 200,000 cubic metres, pum

  • Bids in for Jebel Dhanna

    The local National Petroleum Construction Company (NPCC) is the low bidder for the engineering, procurement and construction contract to build new crude oil storage tanks at Jebel Dhanna in Abu Dhabi. Its $200 million offer is about 1.5 per cent lower than the quote from Turkey's Tekfen. The UK's Whessoe Oil & Gas has quoted about $210 million. The Abu Dhabi Company for Onshore Oil Operations (Adco) contract includes the construction of storage tanks with capacity of 200,000 cubic metres, pu

  • Bids in for Saadiyat bridge

    The local Tourism Development & Investment Company (TDIC), a wholly-owned subsidiary of Abu Dhabi Tourism Authority (ADTA), has received bids for two major contracts on its AED 100,000 million ($27,200 million) Saadiyat island development. The contracts cover a bridge connecting the island to Abu Dhabi island and dredging works (MEED 1:9:06).

  • Bids in for Saadiyat bridge

    The local Tourism Development & Investment Company (TDIC), a wholly-owned subsidiary of Abu Dhabi Tourism Authority (ADTA), has received bids for two major contracts on its AED 100,000 million ($27,200 million) Saadiyat island development. The contracts cover a bridge connecting the island to Abu Dhabi island and dredging works (MEED 1:9:06).For the bridge, three groups have submitted bids. The bidders are: Germany's Ed Zueblin with the local Saif bin Darwish; South Korea's Samsung Corpo

  • Bids in for twin towers

    Dubai Properties has received bids from at least two groups for the main construction package on a proposed twin tower development at Dubai International Financial Centre (DIFC). The bidders include Al-Basti & Muktha and Arabtec Construction, both local.The UK's Hopkins Architects is the consultant.

  • Bids in for Wakra hospital

    Bid evaluation is under way at the Public Works Authority (Ashghal) for the contract to build the 250-bed Wakra hospital. A total of 18 local and international companies submitted bids. An award is expected by the end of the year. The consultant is Australia's GHD (MEED 9:6:06).

  • Bids in for Wakra hospital

    Bid evaluation is under way at the Public Works Authority (Ashghal) for the contract to build the 250-bed Wakra hospital. A total of 18 local and international companies submitted bids. An award is expected by the end of the year. The consultant is Australia's GHD (MEED 9:6:06).

  • Bluewater wins buoys

    Bluewater Energy Services of the Netherlands has been awarded a contract to design and fabricate two single-point mooring calm buoys to serve the common condensate facilities project at Ras Laffan. The moorings will be installed about 54 kilometres from the Ras Laffan condensate refinery. The buoys will be able to handle vessels of up to 320,000 dwt. The order was placed by Qatar Liquefied Gas Company (Qatargas MEED 30:6:06).

  • Bomb explodes in Iraqi police station

    A police station on 13 October became the latest target of Iraqi insurgents when a bomb explosion inside a building killed the commander of an Iraqi special police force. At least one other police officer was killed and eight more were killed in the blast in the southern town of Hilla. Also on 13 October, Iraqi police said found the bodies of 14 construction workers had been found in an orchard near Dhuluiya, north of Baghdad. A police source told Reuters news agency that

  • Bomb explodes in Iraqi police station

    A police station on 13 October became the latest target of Iraqi insurgents when a bomb explosion inside a building killed the commander of an Iraqi special police force. At least one other police officer was killed and eight more were killed in the blast in the southern town of Hilla. Also on 13 October, Iraqi police said found the bodies of 14 construction workers had been found in an orchard near Dhuluiya, north of Baghdad. A police source tol

  • Bond deals done for a trio of Gulf banks

    A trio of GCC bond issues was completed in mid-October. The debut subordinated debt instrument for Arab National Bank (ANB) was priced, Abu Dhabi Commercial Bank (ADCB) issued a dirham-denominated floating-rate note (FRN) and the allocations for Sharjah Islamic Bank's (SIB's) sukuk were finalised.

  • Bond deals done for a trio of Gulf banks

    A trio of GCC bond issues was completed in mid-October. The debut subordinated debt instrument for Arab National Bank (ANB) was priced, Abu Dhabi Commercial Bank (ADCB) issued a dirham-denominated floating-rate note (FRN) and the allocations for Sharjah Islamic Bank's (SIB's) sukuk were finalised.The first drawdown of ANB's $850 million euro medium-term note (EMTN) programme was priced on 17 October at 83 basis points (bp). The size of the issue ended up at $500 million after strong

  • Bonds eyes Lagoons

    The National Bonds plans to develop an estimated AED 500 million ($136 million) mixed-use development at the Lagoons in Dubai. The project will be located in phase 2 and comprise residential office space. Sama Dubai is the master developer (MEED 8:9:06).

  • Borouge tenders utilities

    Abu Dhabi Polymers Company (Borouge) has invited international contractors to submit bids by the end of November for the estimated $1,000 million offsites and utilities (O&U) contract on its planned Ruwais petrochemicals complex expansion.

  • Borouge tenders utilities

    Abu Dhabi Polymers Company (Borouge) has invited international contractors to submit bids by the end of November for the estimated $1,000 million offsites and utilities (O&U) contract on its planned Ruwais petrochemicals complex expansion.At least four international engineering, procurement and construction (EPC) contractors have been invited to bid for the project, including Taiwan-based CTCI, the UK's AMEC, Spain's Tecnicas Reunidas, and a joint venture of Oslo-based Aker Kvaerner and

  • Borouge unwraps Ruwais expansion

    Abu Dhabi Polymers Company (Borouge) announced on 9 October the launch of a feasibility study to examine a further expansion of its Ruwais petrochemical complex. The 12-month study will look into the possibility of producing and marketing base chemicals, including isopropylbenzene (cumene) and phenol.The potential expansion will be based on benzene and propane feedstock supplied by Borouge's co-owner Abu Dhabi National Oil Company (ADNOC). It is also set to comprise a world-scale propane

  • Bourse crash hits the banks

    The downturn in stock market activity in the Gulf is being felt by the region's banks, with several major GCC institutions, including almost all Saudi banks, posting declines in three-month profits during the third quarter. However, the majority of banks managed to increase net income year on year on the back of the continued regional economic boom.

  • Bourse crash hits the banks

    The downturn in stock market activity in the Gulf is being felt by the region's banks, with several major GCC institutions, including almost all Saudi banks, posting declines in three-month profits during the third quarter. However, the majority of banks managed to increase net income year on year on the back of the continued regional economic boom. Bank Aljazira posted the steepest quarterly fall, while Arab National Bank and SABB also saw double-digit pr

  • Bush increases sanctions on Khartoum

    US President Bush signed a decree in mid-October tightening US sanctions against Khartoum.

  • Bush increases sanctions on Khartoum

    US President Bush signed a decree in mid-October tightening US sanctions against Khartoum.The order bans US entities from involvement in the energy and petrochemical sectors as well as continuing the freeze on property owned by Khartoum in the US and trade prohibitions instigated in 1997. Southern Sudan, Southern Kordofan/Nuba Mountains State, the Blue Nile State, Abyei and Darfur were excluded from the order.

  • Bush sees Iraq, Vietnam similarities

    US President Bush has acknowledged there may be similarities between the current situation in Iraq and the Vietnam war. On 18 October, Bush was asked in an interview on ABC News whether he agreed with a New York Times journalist's comparison of the conflict in Iraq with the Tet offensive. 'He could be right,' Bush said. 'There's certainly a stepped level of violence.' 'First of all, al-Qaeda is still very active in Iraq. They are dangerous. They are lethal. Theya re trying

  • Cabinet approves plans to develop zinc deposit

    The Council of Ministers (cabinet) has approved the planned exploitation of the Jabali zinc deposit, 110 kilometres northeast of Sanaa, by a consortium led by UK-based ZincOx.The project now awaits parliamentary and presidential approval. A feasibility study was completed early last year, which estimated potential production at 800,000 tonnes a year (t/y) of ore and 70,000 t/y of zinc oxide over a mine life of 12 years (MEED 21:10:05).

  • Cairo: Housing the millions

    Demand for low-cost housing in the capital continues to tax the Egyptian government, which is creating new towns and villages.

  • Call for special ops work

    The US Corps of Engineers' transatlantic programmes centre has issued a presolicitation notice inviting US and local contractors to bid for a special forces aircraft operations project at Al-Udeid airbase. Request for proposals (RFPs) will be issued in early November, with a tentative date for the submission of bids set for early February. The selected contractor will build permanent military facilities and associated site improvements and utilities.

  • Cap Blanc plant to expand

    Algiers is developing plans to build the world's biggest reverse osmosis (RO) facility near Oran in the west. State-owned Algerian Energy Company (AEC) on 18 October told potential bidders for the contract to build the plant that it planned to increase to 500,000 cubic metres a day (cm/d) the capacity of its proposed desalination facility at Cap Blanc.AEC unveiled the revised plan to seven companies shortlisted to bid for the contract to build a 200,000-cm/d facility at the site. The lar

  • Carlyle comes to the Middle East

    US private equity firm The Carlyle Group will start raising capital soon for a $1,800 million fund to invest in the Middle East and North Africa.

  • CBI charts Islamic course

    The Central Bank of the UAE has approved plans by Commercial Bank International (CBI) to establish an Islamic subsidiary. The decision follows the rejection by shareholders of plans for the bank to convert to an entirely sharia-compliant institution.

  • CBI charts Islamic course

    The Central Bank of the UAE has approved plans by Commercial Bank International (CBI) to establish an Islamic subsidiary. The decision follows the rejection by shareholders of plans for the bank to convert to an entirely sharia-compliant institution.

  • CBK eyes control of BBK

    Commercial Bank of Kuwait (CBK) is seeking to increase its stake in Bank of Bahrain & Kuwait (BBK) to at least 51 per cent, from its current direct holding of 19.4 per cent and indirect holding of 23.6 per cent. Talks are ongoing with various existing BBK shareholders, among them Burgan Bank, to sell their shares. Under Central Bank of Kuwait regulations, an interest of more than 50 per cent in BBK would allow CBK to treat the bank as a subsidiary and thus not under the jurisdiction of central b

  • CCC wins Olefins II work

    Athens-based Consolidated Contractors International Company (CCC) has started work on the mechanicalII package at the Olefins IIpetrochemicals complex inthe Shuaiba industrial area. The scope of works on the$24 million contract, awarded in the summer, covers the erection of three boiler units, piping, casing, utilities and associated infrastructure work. The $28 million mechanical I package was awarded to the local/Indian Gulf Spic Contracting Company earlier in the year. The client on both c

  • Chevron challenge to Al-Zour refinery

    Plans to build the Gulf's biggest refinery at Al-Zour, close to the Divided Zone (DZ) between Kuwait and Saudi Arabia, have been challenged by the US' Chevron Corporation, which operates onshore in the Saudi Arabian section of the DZ. Saudi Arabian Texaco (SAT), a subsidiary of Chevron, has objected to the location of the 615,000-barrel-a-day (b/d) grassroots new refinery project (NRP), planned by Kuwait National Petroleum Company (KNPC). In a letter to Kuwait Municipality, the DZ operator sa

  • Children receive laptops

    The US-based One Laptop Per Child (OLPC) organisation in mid-October signed a memorandum of understanding with Tripoli covering the provision of one laptop for every school-age child. The country is understood to have placed an order for 1.2 million $100 laptops. South Korea's Quanta Computer has started test production of the cheap notebooks, which will use Linux software instead of Windows. Libya will send a team to OLPC's US office to focus on software, infrastructure and educational content.

  • Clients choose direct negotiations with potential contractors

    Clients are turning to alternative procurement methods to sign up contractors and get their projects off the ground.

  • Commercialbank debuts on bond markets

    Commercialbank's shareholders formally approved the bank's planned $1,500 million euro medium-term note (EMTN) programme at a meeting on 27 September. It is the first such programme by a local bank and is also uniquely structured, covering both senior and subordinated debt (MEED 15:9:06).

  • Consortium begins talks for Jubail mega plant

    Power & Water Utilities Company for Jubail & Yanbu (Marafiq) has begun exclusive negotiations with the three-strong developer group of Belgium's Suez Tractebel, the local ACWAPower and Kuwait-based Gulf Investment Corporation (GIC) for the world's largest independent water and power project (IWPP) at Jubail.

  • Consortium begins talks for Jubail mega plant

    Power & Water Utilities Company for Jubail & Yanbu (Marafiq) has begun exclusive negotiations with the three-strong developer group of Belgium's Suez Tractebel, the local ACWAPower and Kuwait-based Gulf Investment Corporation (GIC) for the world's largest independent water and power project (IWPP) at Jubail.

  • Contractors welcome new petrochemicals chief

    The appointment of Gholamhossein Nejabat as head of National Petrochemical Company (NPC) and deputy oil minister has been welcomed by local contractors, raising hopes that there will be a prompt revival in project activity after a year of virtual paralysis. Nejabat replaces Asghar Ebrahimi-Asl, who had been in the job for just nine months (MEED 13:1:06).

  • Contractors welcome new petrochemicals chief

    The appointment of Gholamhossein Nejabat as head of National Petrochemical Company (NPC) and deputy oil minister has been welcomed by local contractors, raising hopes that there will be a prompt revival in project activity after a year of virtual paralysis. Nejabat replaces Asghar Ebrahimi-Asl, who had been in the job for just nine months (MEED 13:1:06).

  • Corporate sukuk issued

    The local National Industries Company for Building Materials (NICBM) has issued a $100 million sukuk, priced at 100 basis points. The tenor is five years. Kuwait Finance House was the sole lead manager, with Gulf International Bank, Liquidity Management Centre and Standard Bank also participating. The size was increased from $70 million due to oversubscription (MEED 22:9:06).

  • Corporate sukuk issued

    The local National Industries Company for Building Materials (NICBM) has issued a $100 million sukuk, priced at 100 basis points. The tenor is five years. Kuwait Finance House was the sole lead manager, with Gulf International Bank, Liquidity Management Centre and Standard Bank also participating. The size was increased from $70 million due to oversubscription (MEED 22:9:06).

  • Corporate syndications market heats up in GCC

    A series of GCC corporates, including several newcomers, entered the syndicated loan market in mid-October.

  • Counting the cost of the insurgency

    Insurgent attacks against the country's oil infrastructure over the past two years have cost Baghdad $16,000 million in lost exports, according to Washington's latest analysis of the country's reconstruction. In the report, the US' inspector for Iraq's reconstruction Stuart Bowen says that insurgents are increasingly targeting the country's hydrocarbons infrastructure.

  • Counting the cost of the insurgency

    Insurgent attacks against the country's oil infrastructure over the past two years have cost Baghdad $16,000 million in lost exports, according to Washington's latest analysis of the country's reconstruction. In the report, the US' inspector for Iraq's reconstruction Stuart Bowen says that insurgents are increasingly targeting the country's hydrocarbons infrastructure.Citing the period between January 2004 and March 2006, Bowen says that the inability to restore power generation capa

  • Crescent rising

    The flood of money from the GCC's prolonged economic boom is creating ripples across the globe. High-profile foreign acquisitions by the likes of DP World and Istithmar of the UAE or Bahrain-based Arcapita have already made world headlines. More can be expected. But something even bigger is moving beneath the surface. A tide of private wealth from a small group of Muslim countries could change the international financial landscape forever.

  • CTCI takes first major regional contract

    Taiwan-based CTCI has received a letter of intent for the contract to build the ethylene oxide/ethylene glycol (EO/EG) plant at the giant Jubail petrochemicals complex planned by Saudi Kayan Petrochemical Company . A tender has also been issued for the polycarbonate unit at the complex (MEED 15:9:06).

  • Dam scheme moves on

    A consortium of Germany's Bilfinger Berger, France's Vinci and the local Orascom Heavy Industries is working on a $280 million project to build the new dam across the Nile at Naga Hammadi, 140 kilometres north of Luxor. The 330 metre-wide dam is being built 3.5 kilometres downstream of the existing Naga Hammadi dam and is scheduled to be operational by 2008.

  • Damascus, Dubai tie up

    The Communications & Technology Ministry has signed a memorandum of understanding (MoU) with Dubai Holding . Under the MoU, Dubai Holding will look at investing in the real estate, tourism, transport, telecoms, IT and industrial sectors.

  • Dawn fund rises in Dubai

    Dubai International Capital has launched an asset management subsidiary to operate a $2,000 million equity fund. The company, NewDawn GSE Asset Management, will be based in the Dubai International Financial Centre and manage the Global Strategic Equities fund that will invest in large-cap stocks around the world.

  • Dead Sea conveyor: From Red to Dead

    The Dead Sea is dying. The world's saltiest body of water and the lowest point on earth has seen its water level fall by more than 20 metres in the last half-century. If nothing is done soon, it could disappear completely.

  • Dead Sea conveyor: From Red to Dead

    The Dead Sea is dying. The world's saltiest body of water and the lowest point on earth has seen its water level fall by more than 20 metres in the last half-century. If nothing is done soon, it could disappear completely.

  • Depa picked for Burj

    Dubai-based Depa Hotel Interiors has won the estimated AED 600 million ($164 million) subcontract to fit out 899 serviced and residential apartments on the Burj Dubai project, scheduled for completion by the end of 2008. The joint venture of South Korea's Samsung Corporation, the local/Belgian Bel Hasa Six Construct, and the local Arabtec Construction is working on the main construction package (MEED 21:4:06).

  • Developer rankings: Inside the halls of power

    For a region that only started to embrace the private power model a decade ago, the GCC has made some impressive strides. Since 1998 and the launch of the ground-breaking Taweelah A2 project in Abu Dhabi, some 20 independent water and power projects (IWPPs) have been signed off with developers, involving generating capacity of 18,000 MW and desalination capacity of more than 1,000 million gallons a day (g/d). And many more are to come, as the majority of Gulf states turn to the private sector

  • Developer rankings: Inside the halls of power

    For a region that only started to embrace the private power model a decade ago, the GCC has made some impressive strides. Since 1998 and the launch of the ground-breaking Taweelah A2 project in Abu Dhabi, some 20 independent water and power projects (IWPPs) have been signed off with developers, involving generating capacity of 18,000 MW and desalination capacity of more than 1,000 million gallons a day (g/d). And many more are to come, as the majority of Gulf states turn to the

  • Dhofar Power sale on the cards

    The US' PSEG has confirmed that it is to sell its 46 per cent stake in Dhofar Power Company, which owns and operates the Salalah power system.'It's part of our strategy to reduce our exposure to international risk,' says a PSEG spokesman. 'We're selectively selling our assets and we have a letter of intent to sell.' He declined to comment on reports that PSEG was close to reaching agreement with a group made up of Dubai-based The GCC Energy Fund and including Malaysia's Malakoff.

  • Disi deadline extended

    The deadline to submit proposals for the 25-year build-operate-transfer (BOT) contract to develop the Disi Mudawarra-Amman water conveyor project has been extended to 15 November. Six groups have been invited to submit bids for the estimated $600 million project, which involves the extractions of water from an aquifier in the Disi-Mudawarra area and the construction of a 325-kilometre pipeline to transport 11 million cubic metres a year to the capital. UK-based Brown & Root North Africa is the c

  • DNA tests to determine if body is that of Al-Qaeda in Iraq leader

    Iraqi officials on 5 October said they were testing the DNA of a militant killed in recent fighting to determine whether the body is that of Al-Qaeda in Iraq leader Abu Hamza al-Muhajir. The US has said it does not believe the Egyptian militant, who is also known as Abu Hamza al-Masri, is dead. 'There was a raid where we thought he may have been among those killed,' US military spokesperson Lieutenant colonel Barry Johnson told Reuters news agency. 'We are still doing DNA tests, but we d

  • Doha awards airport project

    The joint venture (JV) of Greece's Aktor, the local Darwish Engineering, Bahrain's Cebarco and Italy's Cimolai has been issued with a notice to proceed on the airline support facilities package at New Doha International Airport (NDIA). The design and build contract, which was first issued for bid last year, is worth an estimated QR 715 million ($199 million - MEED 8:9:06).

  • Doha bans new North field work

    Qatar Petroleum (QP) has extended the moratorium on new gas developments in the North field. In a statement on 19 October, QP announced that no new North field development 'is being discussed or will be discussed with any company at present. It is our assessment now that no decision will be taken on this front before 2010.' QP officials had originally said that the moratorium would be reviewed in 2007/08, once studies had been completed on the North field gas reservoir.

  • Doha revs up Abu Fontas

    Qatar Electricity & Water Company (QEWC) is planning a major expansion of desalination capacity at Ras Abu Fontas (RAF). Known as RAF A1, the project will entail the addition of 40 million gallons a day (g/d) of desalination capacity at the complex.

  • Donors conference date set

    Prime Minister Fouad Siniora will attempt to kick-start the country's stalled privatisation programme in early January with a donors' conference to garner international support for a new reform programme. It is expected that Siniora will use the conference on 15 January to outline his planned reforms in return for loans that will allow Beirut to reduce its growing debts. At a conference in Paris in 2002, former Prime Minister Rafiq Hariri secured $2,400 million in loans in return for a commitmen

  • Dubai dismisses slavery lawsuit

    Dubai's ruling family has dismissed a lawsuit filed against it in the US as baseless. Six unidentified parents have accused the royal family of trafficking and enslaving thousands of child camel jockeys form Pakistan, Bangladesh, Sudan and Mauritania. The Al-Maktoum family says it has outlawed child jockeys and reformed the sport. 'I think they are a bit disappointed after all the work that has been done in the UAE to clean this issue and to deal with the problem - with al

  • Dubai dismisses slavery lawsuit

    Dubai's ruling family has dismissed a lawsuit filed against it in the US as baseless. Six unidentified parents have accused the royal family of trafficking and enslaving thousands of child camel jockeys form Pakistan, Bangladesh, Sudan and Mauritania. The Al-Maktoum family says it has outlawed child jockeys and reformed the sport. 'I think they are a bit disappointed after all the work that has been done in the UAE to clean this issue and to deal

  • Dubai eurobond gets priced

    A subordinated debt issue by National Bank of Dubai (NBD) was priced on 19 October, following roadshows in Asia and Europe. The $500 million floating rate note, with a tenor of 10 years callable in five, had a re-offer rate of 73 basis points (bp) and a coupon of 70 bp.

  • Dubai eurobond gets priced

    A subordinated debt issue by National Bank of Dubai (NBD) was priced on 19 October, following roadshows in Asia and Europe. The $500 million floating rate note, with a tenor of 10 years callable in five, had a re-offer rate of 73 basis points (bp) and a coupon of 70 bp.

  • Dubai Inc taps international loan market

    A series of Dubai government-affiliated institutions are tapping the syndicated loan market in search of expansion funding. However, bankers say that while the well-priced and structured deals are having no problems clearing the market with ease, others are struggling.

  • Dubai listings gather pace

    The momentum behind listings on the Dubai International Financial Exchange (DIFX) is gathering pace. Listing of the $150 million sukuk recently launched by Kuwait's The Investment Dar (TID) took place on 16 October, while a week later South African gold mining company Gold Fields declared its intention to approach the DIFX authorities about a secondary listing by the end of the month.'We considered listing in Luxembourg, Bahrain and other regional exchanges,' says TID executive vice-pres

  • Dubai Park Towers bids in

    Dubai-based real estate developer Damac Properties is evaluating bids for its Park Towers project at the Dubai International Financial Centre (DIFC). The bidders include the local/German Al-Rostamani Pegel and India's Shapoorji Pallonji Mideast.

  • Dubai pushes ahead with mystery island

    Belgium's Jan de Nul has been awarded a major dredging and reclamation contract to build a new island offshore Dubai. The client on the estimated AED 400 million-500 million ($109 million-136 million) deal is local real estate developer Nakheel. Both Jan de Nul and Nakheel have declined to comment on the award or what the island will be used for.

  • Dubai takes control of Pearl

    Dubai Technology, e-Commerce & Media Free Zone (Tecom) has confirmed that it has assumed control of the Dubai Pearl development from Dubai Pearl, part of Qatar's Omnix International. However, Tecom declined to give a reason for taking over the estimated AED 3,000 million ($817 million) development, which is located within the circular intersection serving Palm Jumeirah.

  • Ducab wins cable deal

    Dubai Cable Company (Ducab) has won an order worth AED 100 million ($27 million) to supply medium and low-voltage cables to Saudi Electricity Company (SEC) . The cables will be used to expand and upgrade SEC's low and medium-voltage cable network in the kingdom.

  • EAgrium seeks marine bids

    Egypt for Nitrogenic Products (EAgrium) has invited four international and local companies to bid for the engineering, procurement and construction (EPC) contract for the marine works package on its $1,000 million urea/ammonia plant at Damietta. The companies are: the local Petrojet, Geneva-registered Archirodon Construction (Overseas), Turkey's STFA Group and the Belgian/local venture of Besix and Orascom Construction Industries (OCI).

  • Economists attack reforms

    A reshuffle of government officials by President Ahmadinejad has been criticised from within the government for politicising economic planning. Provincial offices of the Management & Planning Organisation (MPO), which draws up five-year development plans (FYDPs) and the government budget, are to lose their independent status and come under the control of the Interior Ministry, according to a presidential decree. Three directors and 20 mid-ranking managers of the MPO resigned in the days leadi

  • Edgo Ventures launched

    The localEdgo Grouphas launched a new investment arm calledEdgo Ventures (EV). The company will focus on expanding Edgo's petroleum service activities throughout the region. 'EV will look at mergers and acquisitions in Libya, Sudan, Egypt, Yemen and Oman,' says EV managing director Omar Masri. The new venture will be based in London.

  • EGYPT

    Project no P073977. Provision of consultancy services as part of an irrigation improvement project. The project includes the supply of 100 kilometres of 180 and 200-millimetre-diameter polyvinyl chloride (PVC) pipes for the project in Kafr el-Sheikh governorate. Financed by the World Bank.

  • EGYPT

    Supply of 11 mechanical sludge dewatering systems. Bid bond is£E 80,000.

  • EGYPT

    Expressions of interest. Project no P094229. Provision of consultancy services comprising technical assistance for the project management unit of the Alexandria growth pole project in handling the project's fiduciary responsibilities including procurement, financial management, contract management responsibilities, as well as monitoring and evaluation. The objectives are to: 1) support economic development of the Alexandria Governorate to enhance the utilisation of local assets through investmen

  • EGYPT

    Tender no 3/04-W(a)-1. Project no P049166. Supply and installation of the El-Rowad sewage treatment plant as part of the East Delta agriculture services project. Financed by the International Development Association and the International Fund for Agricultural Development. Bid bond is£E 120,000.

  • EGYPT

    Design, build and operate a conveyance and distribution infrastructure to take surface water for irrigation from the River Nile to cultivated lands in the West Delta area over 255,000 feddans. The project will be on a full costrecovery policy basis (all capital and operation and maintenance costs and profit for the operator will be recovered through tariffs paid by farmers connecting to the system). The government will enter into a contract with a privateoperator to design, build andoperate t

  • EGYPT

    Supply of power transformers as part of the 750-MW Nuberiya combined cycle power station III project for the Egyptian Electricity Holding Company's West Delta Electricity Production Company. The scope of works includes, but is not limited to, designing, fabricating, furnishing, delivering, transporting to the site, assistance during installation, putting into successful operation, starting-up and commissioning of the following: 1) three main power transformers (15-21.5/500-kV, 300-340-MVA); 2

  • EGYPT

    Tender no 5/Goods/WB/ICB/2006. Project no P045175. Supply of 75,000 doses of seasonal influenza vaccines as part of the health sector reform project. The vaccines must be produced under the control of a recognised firm as defined by the World Health Organisation (WHO), and be approved by the WHO as a 2006/07 seasonal influenza vaccine. Financed by the International Development Association. Bid bond is 1 per cent of tender price.

  • EGYPT The new Caironomics

    Ahmed Nazif's new government promised much when coming to power two years ago. It certainly needed to. Unemployment was pushing 12 per cent, consumer price inflation had topped 20 per cent and domestic growth was stagnant. The economy needed a fillip and Prime Minister Nazif's liberalising administration tried to provide one. So far, it has succeeded. Egypt is enjoying its best period of growth for two decades. But more than 70 million Egyptians still need their economy to keep growing, and f

  • EGYPT The new Caironomics

    Ahmed Nazif's new government promised much when coming to power two years ago. It certainly needed to. Unemployment was pushing 12 per cent, consumer price inflation had topped 20 per cent and domestic growth was stagnant. The economy needed a fillip and Prime Minister Nazif's liberalising administration tried to provide one. So far, it has succeeded. Egypt is enjoying its best period of growth for two decades. But more than 70 million Egyptians still need their economy to keep growing, and fast

  • EGYPT: Factory records

    Much of Egypt's industrial activity takes place in purpose-built parks, of which there are 86 throughout the country; Amr Assal is responsible for developing 79 of them, covering 20 million square metres. One of Cairo's new corps of private sector leaders, Assal was handpicked by the new administration to head the newly created Industrial Development Agency (IDA) and drive forward the sector of which so much is hoped.

  • EGYPT: Factory records

    Much of Egypt's industrial activity takes place in purpose-built parks, of which there are 86 throughout the country; Amr Assal is responsible for developing 79 of them, covering 20 million square metres. One of Cairo's new corps of private sector leaders, Assal was handpicked by the new administration to head the newly created Industrial Development Agency (IDA) and drive forward the sector of which so much is hoped. In terms of years, the IDA is a toddler created

  • EGYPT: Making it in China

    Everybody wants a piece of China these days and Egypt is no exception. In September, Foreign Trade & Industry Minister Rachid Mohammed Rachid led a delegation of government and private sector manufacturers on a trade visit that took in three cities in seven days. The trip was judged a success - an economic protocol was signed with Bo Xilai, his opposite number in Beijing, agreements were drafted and within two weeks of their return Rachid was playing host to a return delegation.

  • EGYPT: Making it in China

    Everybody wants a piece of China these days and Egypt is no exception. In September, Foreign Trade & Industry Minister Rachid Mohammed Rachid led a delegation of government and private sector manufacturers on a trade visit that took in three cities in seven days. The trip was judged a success an economic protocol was signed with Bo Xilai, his opposite number in Beijing, agreements were drafted and within two weeks of their return Rachid was playing host to a return delegation.

  • Egypt: Mortgage education

    Osama Saleh is a busy man. The head of the Mortgage Finance Authority (MFA) is one of the new breed of private sector leaders brought into the government by Prime Minister Ahmed Nazif to liberalise and reinvigorate the economy. Saleh has been in the job for barely a year, yet under his leadership the MFA is already achieving results.

  • EGYPT: Price pressure

    Cairo's high hopes for oil and gas exploration are shared by international oil companies (IOCs). More than one-third of the country is now covered by hydrocarbon exploration agreements and, according to local authority sources, three exploration rounds launched this year by Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS) and Ganoub el-Wadi Petroleum Company (Ganope) have all attracted interest from foreign and local companies.

  • EGYPT: Price pressure

    Cairo's high hopes for oil and gas exploration are shared by international oil companies (IOCs). More than one-third of the country is now covered by hydrocarbon exploration agreements and, according to local authority sources, three exploration rounds launched this year by Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS) and Ganoub el-Wadi Petroleum Company (Ganope) have all attracted interest from foreign and local companies.Offers for

  • EGYPT: The rising son

    Gamal Mubarak's call to resume a civil nuclear programme in Egypt was dressed as a thoughtful policy move designed to tackle the country's growing domestic energy demands. But very few Egyptians see it in that light. By far the most memorable moment of the ruling National Democratic Party's (NDP's) Second Wind of Change conference in mid-September, the comments had the air of a rising politician hitching his wagon to headline-grabbing topic.

  • EGYPT: The rising son

    Gamal Mubarak's call to resume a civil nuclear programme in Egypt was dressed as a thoughtful policy move designed to tackle the country's growing domestic energy demands. But very few Egyptians see it in that light. By far the most memorable moment of the ruling National Democratic Party's (NDP's) Second Wind of Change conference in mid-September, the comments had the air of a rising politician hitching his wagon to headline-grabbing topic.

  • Egyptian Muslim Brotherhood members released

    The Muslim Brotherhood on 19 October announced that Mahmoud Ezzat, one of its senior officials, and 14 other members have been released from prison. The Egyptian authorities gave no reason for the release of the detainees, who were arrested in August. The Muslim Brotherhood says 40 more of its members remain in custody.The Muslim Brotherhood is officially banned in Egypt but its members circumvent the prohibition and contest parliamentary elections as independents. The bro

  • Egyptian Muslim Brotherhood members released

    The Muslim Brotherhood on 19 October announced that Mahmoud Ezzat, one of its senior officials, and 14 other members have been released from prison. The Egyptian authorities gave no reason for the release of the detainees, who were arrested in August. The Muslim Brotherhood says 40 more of its members remain in custody.The Muslim Brotherhood is officially banned in Egypt but its members circumvent the prohibition and contest parliamentary electio

  • Egyptians win mud work

    Kuwait Oil Company (KOC) has awarded Egyptian Mud Engineering & Chemicals Company a five-year contract, worth KD 26.5 million ($91.4 million), to carry out mud logging services. The contract is the fourth mud logging services deal awarded this year by the state upstream operator (MEED 13:10:6; 25:8:06).

  • ElBaradei says Middle East solution possible

    Mohammed ElBaradei, the head of the International Atomic Energy Agency, said on 25 October that a solution to the Israel-Palestinian conflict is possible if the international community commits to a blueprint and a policy of encouraging dialogue between the two sides. 'A solution to this conflict is within our grasp, provided that the conditions are created to enable this solution to come into being,' he said during a lecture in Maryland. 'Because there is already a great deal o

  • El-Haouaria on course

    Tenders are expected to be issued in mid-2007 for the estimated Eur 1,000 million ($1,281 million) project to develop a 1,200-MW combined cycle plant at El-Haouaria. Under the proposed scheme, 800 MW will be exported by undersea cable to Italy, with the balance to be distributed by the client, state power company Societe Tunisienne de l'Electricite & du Gaz (Steg - MEED 3:3:06).

  • El-Haouaria on course

    Tenders are expected to be issued in mid-2007 for the estimated Eur 1,000 million ($1,281 million) project to develop a 1,200-MW combined cycle plant at El-Haouaria. Under the proposed scheme, 800 MW will be exported by undersea cable to Italy, with the balance to be distributed by the client, state power company Societe Tunisienne de l'Electricite & du Gaz (Steg MEED 3:3:06).

  • El-Nilein snapped up

    A consortium including locally based Al-Salam Bank and Dubai-based real estate developer Emaar Properties has acquired a 60 per cent stake in El-Nilein Industrial Development Bank for $40 million in addition to taking on the bank's debts. El-Nilein already has ties with the UAE, having become the first Sudanese bank to expand abroad when it opened a branch in Abu Dhabi in 1976. Al-Salam Bank was created in 2004 by mainly GCC shareholders (MEED 20:10:06).

  • El-Nilein snapped up

    A consortium including locally based Al-Salam Bank and Dubai-based real estate developer Emaar Properties has acquired a 60 per cent stake in El-Nilein Industrial Development Bank for $40 million in addition to taking on the bank's debts. El-Nilein already has ties with the UAE, having become the first Sudanese bank to expand abroad when it opened a branch in Abu Dhabi in 1976. Al-Salam Bank was created in 2004 by mainly GCC shareholders (MEED 20:10:06).

  • Emirates orders 10 Boeings

    Dubai-based carrier Emirates has signed a contract with The Boeing Company of the US for 10 new 747-8F aircraft in a deal worth up to $5,600 million. The airline also has purchase rights for a further 10 747-8Fs. The aircraft will be used by Emirates freight operator Emirates SkyCargo (MEED 21:7:06).

  • Emirates orders 10 Boeings

    Dubai-based carrier Emirates has signed a contract with The Boeing Company of the US for 10 new 747-8F aircraft in a deal worth up to $5,600 million. The airline also has purchase rights for a further 10 747-8Fs. The aircraft will be used by Emirates freight operator Emirates SkyCargo (MEED 21:7:06).

  • Emirates Steel issues PIM

    The preliminary information memorandum (PIM) was issued on 3 October for the debt package to fund the expansion of Abu Dhabi government-ownedGeneral Holding Corporation's (GHC's)iron and steel plant in Mussafah industrial district. Banks have been given a month to respond to the invitation to participate (MEED 1:9:06).

  • Emirates Steel issues PIM

    The preliminary information memorandum (PIM) was issued on 3 October for the debt package to fund the expansion of Abu Dhabi government-ownedGeneral Holding Corporation's (GHC's)iron and steel plant in Mussafah industrial district. Banks have been given a month to respond to the invitation to participate (MEED 1:9:06).The total size of the debt is $950 million, out of total project costs estimated at $1,100 million. The package will consist of:a 16-year term loan of $825 million with a c

  • E-trading company formed

    Fixed-line and mobile operator Saudi Telecom Company (STC) has announced plans to form a new company targeted at the growing electronic trading sector. The limited joint stock company will provide electronic solutions to the private and public sectors ranging from auctions to e-government infrastructure building. STC will take a 50 per cent stake in the new company, with Technological Investment Company and National Data Systems Company, both local, holding the remainder.

  • EU backs Iran sanctions

    European foreign affairs ministers meeting in Luxembourg on 17 October have backed incremental UN sanctions against Iran. The ministers have called for punitive measures which would target individuals and materials involved in uranium enrichment to be imposed on Tehran. The Islamic republic has refused to end its uranium enrichment programme. 'The Iranians' refusal leaves us no choice today but to take to the Security Council route,' French Foreign Affairs Minister Philippe Douste-Blazy

  • EU supports fiscal reform

    The EU in mid-October granted Rabat $100 million to finance its fiscal reform programme following an agreement signed on 5 October. The programme provides for reform of fiscal expenditure, a medium-term income tax reform strategy and the modernisation of fiscal administration.

  • Europeans land fibre grid

    State telecoms provider and regulator General Post, Telecommunication & Information Technology Company has awarded France's Alcatel and Italy's Sirti two contracts to install a next-generation basic network across the country.

  • Europeans land fibre grid

    State telecoms provider and regulator General Post, Telecommunication & Information Technology Company has awarded France's Alcatel and Italy's Sirti two contracts to install a next-generation basic network across the country.

  • events: Will the Olympics come to the Gulf?

    The International Olympic Committee (IOC) has yet to launch the official bidding process for the 2016 games, which should begin in 2007, with an election expected by 2009. 'It's broken down into 11 themes including infrastructure, Olympic village and safety,' says an IOC spokesperson. 'The Asian Games will prepare Doha for quite a few of those issues and I believe there is leeway when it comes to shifting the dates.'

  • Exiled leader says Hamas will not recognise Israel

    Hamas will not recognise Israel's right to exist, Khaled Meshaal, the group's Damascus-based leader said on 12 October. 'Hamas will not surrender to those wanting to mount a coup against it, it will not recognise Israel and will not abandon armed resistance,' he said. Unity government talks between rival Palestinian factions Hamas and Fatah ground to a halt after Hamas refused to soften its stance towards Israel. However, Meshaal said the formation of a unity government wa

  • Expanding Amman: Strategy to meet housing shortfall

    Jordan's capital is growing fast, with new satellite cities set to provide much-needed housing.

  • Expelled Sudan envoy maintains criticism

    Jan Pronk, the UN's chief envoy to Sudan, said on 24 October that he did not regret making comments about the situation in Darfur that led to his expulsion by Khartoum. Pronk was expelled from Sudan a day earlier after posting comments on his website claiming morale in the Sudanese army was low after it lost two battles in North Darfur to rebel forces. 'The main thing is that a peace accord was signed in Darfur but the military are trampling all over it and are trying to gain a

  • Experienced staff trade places for higher wages

    Limited resources and rising living costs across the Gulf have turned experienced staff into a prized commodity.

  • Exxon takes Laffan cracker

    Qatar Petroleum (QP) and the US' ExxonMobil Chemical Company have signed a second agreement to jointly develop a new world-scale petrochemicals complex at Ras Laffan. Under the terms of the heads of agreement, which was signed on 15 October, QP and ExxonMobil will form a 51:49 joint venture to develop the $3,000 million facility. The agreement follows the signing in June 2004 of a statement of intent that called for a feasibility study to be carried out into the scheme (MEED 2:7:04).

  • Exxon takes Laffan cracker

    Qatar Petroleum (QP) and the US' ExxonMobil Chemical Company have signed a second agreement to jointly develop a new world-scale petrochemicals complex at Ras Laffan. Under the terms of the heads of agreement, which was signed on 15 October, QP and ExxonMobil will form a 51:49 joint venture to develop the $3,000 million facility. The agreement follows the signing in June 2004 of a statement of intent that called for a feasibility study to be carried out into the scheme (MEED 2:7:04).To b

  • Failaka BOT cancelled

    The Mega Projects Agency, part of the Ministry of Public Works, officially confirmed on 1 October the cancellation of the Failaka island build operate transfer (BOT) utilities concession. The 180-MW, 1.25 million-gallon-a-day project will now be retendered on a conventional engineering, procurement and construction (EPC) basis. Almost 30 international and local companies and groups submitted prequalification applications for the scheme earlier in the year. (MEED 18:8:06).

  • Fatah cancels Jordan meeting

    A meeting of the central committee of Palestinian Authority President Abbas's Fatah party was cancelled on 16 October. The meeting, scheduled to take place in Jordan, was postponed indefinitely due to disagreements between party members. Media reports said the meeting was called off after it became apparent that the majority of central committee members would not back a move by Abbas to dissolve the Hamas-led government. Also on 16 October, Egyptian intelligence chief Omar

  • Fatah cancels Jordan meeting

    A meeting of the central committee of Palestinian Authority President Abbas's Fatah party was cancelled on 16 October. The meeting, scheduled to take place in Jordan, was postponed indefinitely due to disagreements between party members. Media reports said the meeting was called off after it became apparent that the majority of central committee members would not back a move by Abbas to dissolve the Hamas-led government. Also on 16 October, Egypt

  • Federal law passed by parliament

    Iraq's parliament on 11 October approved legislation which sets out the procedure for the creation of federal regions. The law allows Iraq's 18 provinces to hold referendums on merging into larger autonomous regions. The first merger will not take place before 2008 as Sunni and Shia leaders have agreed to put off implementing the law for 18 months. The Accordance Front, the largest Sunni bloc in parliament, boycotted the session. Sunnis are concerned that devolving power w

  • Federation to balance its books in 2007

    Abu Dhabi has announced a 1.6 per cent increase in public spending in its 2007 budget, which the cabinet approved in mid-October. Government revenues and expenditure are set at AED 28,420 million ($7,744 million) the UAE's third consecutive balanced budget.

  • Fidar bridge decided

    The local La Constructa has been awarded the main construction package to rebuild Fidar bridge in the Jbeil area, 25 kilometres north of Beirut. Work is expected to take 11 months. Beirut-based Dar al-Handasah (Shair & Partners) is the consultant. The client is the Council for Development & Reconstruction. Byblos Bank is funding the project (MEED 8:9:06).

  • Fidar bridge decided

    The local La Constructa has been awarded the main construction package to rebuild Fidar bridge in the Jbeil area, 25 kilometres north of Beirut. Work is expected to take 11 months. Beirut-based Dar al-Handasah (Shair & Partners) is the consultant. The client is the Council for Development & Reconstruction. Byblos Bank is funding the project (MEED 8:9:06).

  • Financial close nears on affordable housing project

    Rabat is close to completing financing arrangements for the Eur 400 million ($507 million) affordable housing scheme launched in May byHouse Invest, a 50:50 joint venture of the localJet Groupand Bahrain-basedRealCapita(MEED 26:5:06). Financial close is expected in November.

  • Financing: Short circuit

    'How are they going to sell it down?' is a frequent refrain of bankers working on Gulf project finance deals. In September, the question almost went unanswered. The debt package for the Fujairah independent water and power project (IWPP) struggled in syndication and the lead banks were forced to increase the fees.

  • Firms line up for airport

    Eight international consortiums involving 31 companies have submitted prequalification documents for the build-operate-transfer (BOT) contract to upgrade Queen Alia International Airport (QAIA) near Amman. The contract will include a $500 million engineering, procurement and construction (EPC) contract for a new terminal building designed by the UK's Fosters & Partners (MEED 4:8:06).

  • Firms line up for airport

    Eight international consortiums involving 31 companies have submitted prequalification documents for the build-operate-transfer (BOT) contract to upgrade Queen Alia International Airport (QAIA) near Amman. The contract will include a $500 million engineering, procurement and construction (EPC) contract for a new terminal building designed by the UK's Fosters & Partners (MEED 4:8:06).'The next stage will be to open a data room in mid-October,' says a senior Transport Ministry official. 'A

  • Firms line up for Brega gas plant upgrade

    The Royal Dutch/Shell Group has received expressions of interest (EoIs) from selected international companies for the $100 million-200 million contract to upgrade the Marsa al-Brega liquefied natural gas (LNG) plant. Bidders include Paris-based Technip, UAE-based Petrofac International, Germany's MAN Ferrostaal and Athens-based Joannou & Paraskevaides (J&P - Overseas - MEED 17:3:06).

  • Firms line up for Brega gas plant upgrade

    The Royal Dutch/Shell Group has received expressions of interest (EoIs) from selected international companies for the $100 million-200 million contract to upgrade the Marsa al-Brega liquefied natural gas (LNG) plant. Bidders include Paris-based Technip, UAE-based Petrofac International, Germany's MAN Ferrostaal and Athens-based Joannou & Paraskevaides (J&P Overseas MEED 17:3:06).

  • Firms on the blocks for regulatory advice

    The Water & Irrigation Ministry is reviewing bids from five international consortiums for the contract to advise on the establishment of a new water regulator. Bidders for the European Commission-funded contract to advise on the Al-Meyyah water services management programme include Germany's Fichtner with France's Seureca; Germany's GFA Consulting Group with the local Engicon; the UK's IPA Energy Consulting; Amman-based MWH Arabtech Jardaneh and Germany's Lahmeyer International.

  • Firms on the blocks for regulatory advice

    The Water & Irrigation Ministry is reviewing bids from five international consortiums for the contract to advise on the establishment of a new water regulator. Bidders for the European Commission-funded contract to advise on the Al-Meyyah water services management programme include Germany's Fichtner with France's Seureca; Germany's GFA Consulting Group with the local Engicon; the UK's IPA Energy Consulting; Amman-based MWH Arabtech Jardaneh and Germany's Lahmeyer International.Under

  • Fitch upgrades Piraeus

    International rating agencyFitchin late September upgraded the localPiraeus Bank Egypt (PBE)to long-term AA from A+ and to short-term F1+ from F1. The support rating is affirmed at 3 and the outlook is stable. Fitch said the upgrade reflected the improving co-operation and integration of PBE with its parent company Greece'sPiraeus Bank, which acquired a 69.3 per cent stake in PBE, formerlyEgyptian Commercial Bank, in 2005 (MEED 14:7:06).

  • Five in for Aswan Dam

    Five groups have been prequalified for the contract to carry out a feasibility study on a project to rehabilitate the Aswan Dam and assess monitoring systems on the High Dam. The groups are led by Germany's Lahmeyer International, Lebanon's Dar al-Handasah, Germany's CES Consulting Engineers, France's PRL and the Dutch Royal Haskoning. Tender documents are due out on 19 November and an award is due three months later.

  • Five invited to bid for Nile dam

    The Water Resources & Irrigation Ministry has prequalified five groups for the detailed design and construction supervision contract on the $340 million project to upgrade the Assiut Barrage dam, 400 kilometres south of Cairo. The prequalifiers are: Lahmeyer International, Germany, with Sogreah, France.

  • Fixed ideas

    The rumours began on 11 May, when Kuwait shifted its peg against the dollar. It was only a 1 per cent revaluation, but it fuelled weeks of speculation. Would Saudi Arabia be next? Riyadh said no. The UAE? Again, no. With a GCC single currency approaching in 2010, now was not the time to rock the boat. Then in mid-September, UAE Central Bank governor Sultan bin Nasser al-Suwaidi cast doubts on the dollar peg again. 'It would not make real sense to have a single currency and keep it linked to a

  • Fixed licence nears

    The Communications & Information Technology Commission (CITC), the independent telecoms regulator, announced on 30 September that requests for applications (RFAs) for the kingdom's first private fixed-line licences would be issued soon. However, RFAs for the the third mobile licence have been delayed further due to ongoing negotiations over spectrum availability.

  • Fixed licence nears

    The Communications & Information Technology Commission (CITC), the independent telecoms regulator, announced on 30 September that requests for applications (RFAs) for the kingdom's first private fixed-line licences would be issued soon. However, RFAs for the the third mobile licence have been delayed further due to ongoing negotiations over spectrum availability.'The CITC will publish the regulatory framework and the RFA documents for licensing of public fixed services by no later th

  • Foreign investment soars in the region

    Both inflows and outflows of foreign direct investment (FDI) soared in the Middle East and North Africa (MENA) during 2005, according to the annual UN Council on Trade & Development (UNCTAD) World Investment Report, published on 16 October. However, in global terms the volumes of investment remain tiny (see table).

  • Foreign ministers meet on Iran

    Foreign affairs ministers from the five permanent members of the UN Security Council plus Germany are meeting in London on 6 October to discuss the way forward in the nuclear standoff with Iran. Observers say it is likely the US and the UK will push for sanctions to be imposed on the Islamic republic. Russia and China, on the other hand, are in favour of more talks. EU foreign policy chief Javier Solana on 6 October said that 'the door to negotiations is and will always be

  • Foster Wheeler takes Manifa management

    The US' Foster Wheeler has been selected for the onshore project management consultancy (PMC) and front-end engineering and design (FEED) services contract on the multi-billion-dollar Manifa oil field redevelopment in the Eastern Province. Contract signing is scheduled for late October. The client is Saudi Aramco (MEED 29:9:06).

  • Foster Wheeler takes Manifa management

    The US' Foster Wheeler has been selected for the onshore project management consultancy (PMC) and front-end engineering and design (FEED) services contract on the multi-billion-dollar Manifa oil field redevelopment in the Eastern Province. Contract signing is scheduled for late October. The client is Saudi Aramco (MEED 29:9:06).

  • Four killed in Gaza

    Israeli forces on 13 October killed four Palestinians, including three Hamas militants in the Gaza Strip. The militants were killed in an Israeli air strike which targeted a car in northern Gaza. Earlier, a Palestinian woman was shot dead outside her home in the south. On the same day, following the killing of a Hamas leader and a member of the Fatah-dominated intelligence service in two separate incidents triggered clashes between gunmen loyal to the rival groups.

  • Four killed in Gaza

    Israeli forces on 13 October killed four Palestinians, including three Hamas militants in the Gaza Strip. The militants were killed in an Israeli air strike which targeted a car in northern Gaza. Earlier, a Palestinian woman was shot dead outside her home in the south. On the same day, following the killing of a Hamas leader and a member of the Fatah-dominated intelligence service in two separate incidents triggered clashes between gunmen loyal t

  • Fresh bids in for solar hybrid plant

    Revised technical bids were submitted in late September by two groups for the planned 400-MW integrated solar/combined cycle facility at Ain Beni Mathar.

  • Fresh bids in for solar hybrid plant

    Revised technical bids were submitted in late September by two groups for the planned 400-MW integrated solar/combined cycle facility at Ain Beni Mathar.The bidders are Spain's Abengoa with France's Alstom and Spain's Cobra with Siemens of Germany. The team of Canada's SNC Lavalin with the US' General Electric chose not to participate in the retender, which increases the size of the facility by 150 MW although the client, state electricity company Office National de l'Electricite, has l

  • Galadari debt swapped

    The Dubai government has taken a 30 per cent stake in Dubai-based trading company Galadari Brothers. The government's 30 per cent stake replaces Galadari's debt to the government and other companies. Galadari's business interests include local English-language daily Khaleej Times and an automobile dealership.

  • Games theory

    In December, Doha will host the biggest sporting event ever held in the Gulf. The 15th Asian Games will bring tens of thousands of visitors to the country, including more than 10,500 athletes, and for the first two weeks of December, Qatar will feature in newspapers and on television screens around the world.

  • Gateway piling awarded

    Germany's Keller Grundbau has been awarded the 18-week piling contract on the estimated $183 million Amwaj Gateway project, being developed by locally based RealCapita. A main contractor is due to be appointed imminently on the scheme (MEED 4:8:06).

  • GAZA - WEST BANK

    Expressions of interest. Contract no LAP 2. Project no P080892. Provision of consultancy services comprising the design and development of a computerised land registration system in two land registry offices, one in Ramallah and one in Gaza, including user training and ongoing support as part of a land administration project. The assignment will include the following key activities: 1) design; 2) software development; 3) user training; and 4) system support. Financed by the International Develop

  • GAZA - WEST BANK

    General procurement notice. Supply of goods, carrying out works and provision of consultancy and related services as part of the population, health and nutrition sector's emergency services support programme - multi donor trust fund. The project will include the following components: 1) support to the delivery of education services; 2) support to the delivery of health services; 3) support to social welfare services; 4) other key sectors; and 5) project management and monitoring support. Fina

  • Gaza seeks Arab interconnection

    The Palestinian Energy & Natural Resources Authority is planning to issue a joint tender with Egyptian Electricity Holding Company for the contract to connect the Gaza Strip to the Egyptian power grid. The engineering, procurement and construction (EPC) contract covers the expansion of the substation at El-Arish, the installation of 50 kilometres of 220-kV cables and overhead lines on the Egyptian side and the construction of a switching station on the Rafah border, as well as a substation in

  • GCC banks hit international bond market

    A flurry of bond issues from GCC financial institutions hit the market in early October, including Islamic and conventional paper and senior and subordinated debt. The biggest issue to be priced came from Commercialbank a $500 million, five-year floating-rate note (FRN) arranged by Citigroup and HSBC. An order book in excess of $1,100 million was secured and the paper was priced at 45 basis points (bp).

  • GCC banks hit international bond market

    A flurry of bond issues from GCC financial institutions hit the market in early October, including Islamic and conventional paper and senior and subordinated debt. The biggest issue to be priced came from Commercialbank - a $500 million, five-year floating-rate note (FRN) arranged by Citigroup and HSBC. An order book in excess of $1,100 million was secured and the paper was priced at 45 basis points (bp).

  • GCC citizens to receive equal treatment in Bahrain

    GCC citizens working in the Bahraini civil service will be considered equal to their local counterparts, according to a draft law approved by Bahrain's cabinet on 1 October. 'In line with the decision of the 2000 GCC summit to treat GCC citizens like nationals in each of the six states, the cabinet has approved a draft law that considers nationals of other GCC countries like Bahrainis working in the civil service,' a statement released by the cabinet said. The proposed legislation will g

  • GEMS goes super-sized

    Dubai-based Global Education Management Systems (GEMS) plans to open its first super school' in Dubai by 2008. The school has a target student body of 1,400 pupils from ages three-18 who will study a curriculum based on the international baccalaureate. GEMS operates 65 schools across the Middle East, India and the UK with about 65,000 pupils.

  • Germans in line for Dead Sea brine station

    Germany's Fichtner is in negotiations with Arab Potash Company (APC) for the consultancy contract to upgrade the main brine pumping station at Ghor al-Safi, 130 kilometres south of Amman.The scope of works is divided into civil and mechanical sections and involves the construction of a new station and two storage areas and replacing the existing pumps in the brine station with a new four pump set, each with capacity of 4.5 cubic metres a second.The upgrade is part of APC'

  • Germans in line for Dead Sea brine station

    Germany's Fichtner is in negotiations with Arab Potash Company (APC) for the consultancy contract to upgrade the main brine pumping station at Ghor al-Safi, 130 kilometres south of Amman.

  • Germany arrests Al-Qaeda suspect

    German police on 10 October arrested an Iraqi man suspected of aiding Al-Qaeda by disseminating on the internet messages from the group's leaders, including Osama bin Laden. The man was arrested near the town of Osnabrueck and his flat was searched. A statement from Germany's Federal Prosecutor's Office said the man, identified as Ibrahim R, was able to 'circulate the messages worldwide and thereby support the groups in their terrorist acts and goals'.

  • Golf Estates water tested

    The local Palm Water has invited companies to submit expressions of interest by 20 October for a sewage treatment plant (STP). The scope of works on the design-build-operate contract also includes associated trunk collection and treated sewage effluent pipelines that will serve developments in and around Jumeirah Golf Estates. The 200,000-cubic-metre-a-day STP will utilise membrane bioreactor (MBR) technology and will be built in phases. Tenders are expected in November and an award is due in ea

  • Golf Estates water tested

    The local Palm Water has invited companies to submit expressions of interest by 20 October for a sewage treatment plant (STP). The scope of works on the design-build-operate contract also includes associated trunk collection and treated sewage effluent pipelines that will serve developments in and around Jumeirah Golf Estates. The 200,000-cubic-metre-a-day STP will utilise membrane bioreactor (MBR) technology and will be built in phases. Tenders are expected in November and an award is due in

  • GOSI prepares for hotels

    The General Organisation for Social Insurance (GOSI) is planning to issue tenders by late October for the construction of two 250-bed hotels in Medina. Local contractors have already been prequalified for the estimated SR 200 million ($53 million) scheme. The hotels are the latest in a raft of developments aimed at raising room capacity in the holy city (MEED 29:9:06).

  • Grenades injure six in Beirut

    Six people were injured when three grenades were launched at a building in the centre of Beirut on 15 October. The incident, which occurred at a complex housing nightclubs and offices near Lebanon's UN headquarters, is the third of its kind in the last 10 days. 'It is clear that there is an attempt to ignite security strife in the country,' said Acting Interior Minister Ahmed Fatfat.

  • Grenades injure six in Beirut

    Six people were injured when three grenades were launched at a building in the centre of Beirut on 15 October. The incident, which occurred at a complex housing nightclubs and offices near Lebanon's UN headquarters, is the third of its kind in the last 10 days. 'It is clear that there is an attempt to ignite security strife in the country,' said Acting Interior Minister Ahmed Fatfat.

  • Gulf Energy takes shape

    Gulf Energy , a global consortium of energy consultants and investors advised by Manama-based Gulf Finance House , has signed a memorandum of understanding (MoU) with the government of Maharashtra in India to establish an energy hub in the state. Called Energy City India, the project entails the development of a business centre for oil and gas-related companies over a 300-acre area near Mumbai. Development costs are estimated at some $2,000 million and India's Valuable Infrastructure is carrying

  • Gulf power: System overload

    It has been a long hot summer for Gulf utilities. Record demand has stretched the electricity sector to breaking point, with power stations and distribution networks struggling to cope with the unprecedented load. Power cuts have been experienced in Jeddah, Manama and Kuwait City, leading to outcries by householders who have had to deal with temperatures of more than 45°C without the luxury of air-conditioning. Inquests have been launched int

  • Gulf power: System overload

    It has been a long hot summer for Gulf utilities. Record demand has stretched the electricity sector to breaking point, with power stations and distribution networks struggling to cope with the unprecedented load. Power cuts have been experienced in Jeddah, Manama and Kuwait City, leading to outcries by householders who have had to deal with temperatures of more than 45 deg. C without the luxury of air-conditioning.

  • Gulf targets China IPO

    Qatar Investment Authority and Kuwait Investment Authority are investing respectively $206 million and $720 million as core subscribers to the estimated $18,000 million-21,000 million initial public offering (IPO) expected to be the world's biggest ever of Industrial & Commercial Bank of China.

  • Gunmen attack TV station, 11 dead

    Masked gunmen on 12 October stormed the premises of a new Iraqi satellite television channel, killing 11 people. Some of the attackers wore police uniforms and drove off in what appeared to be police vehicles, police said. Those killed included technicians and security guards. The station's board chairman, Abd al-Rahim Nasrallah, who is the leader of the National Justice & Progress Party, was also killed. The party is a small secular grouping which does not hold any seats in parliament.

  • Hamas blames Fatah for failed talks

    Osama Hamdan, a senior Lebanon-based Hamas official, on 11 October accused Palestinian Authority President Abbas of intentionally seeking to derail talks over the formation of a national unity government. Fatah officials a day earlier announced that Qatari mediation efforts had failed. 'We remain committed to a unity government,' Hamdan said. 'Our hands are stretched out to this and what we presented to the Qatari foreign minister guarantees its achievement.' 'The one who

  • Hamas blames Fatah for failed talks

    Osama Hamdan, a senior Lebanon-based Hamas official, on 11 October accused Palestinian Authority President Abbas of intentionally seeking to derail talks over the formation of a national unity government. Fatah officials a day earlier announced that Qatari mediation efforts had failed. 'We remain committed to a unity government,' Hamdan said. 'Our hands are stretched out to this and what we presented to the Qatari foreign minister guarantees its achievement.'

  • Hamas leader assassinated

    Masked gunmen on 4 October killed a Hamas leader as in the West Bank village of Hableh, near Qalqilya. Mohammed Odeh was shot as he left a mosque. Witnesses said the gunmen were driving a car with Israeli licence plates. The Israeli army has denied involvement in the killing. The assassination comes one day after the Fatah-linked Al-Aqsa Martyrs' Brigades threatened to execute Hamas leaders, blaming them for the renewed factional in-fighting which has left 12 people dead a

  • Hamas leaders threatened with execution

    The Al-Aqsa Martyrs Brigades, a militant group associated with Palestinian President Mahmoud Abbas's Fatah party, on 3 October threatened to kill leaders of Hamas. 'We in Al-Aqsa announce, with all might and frankness [that we will] execute the head of the sedition, Khaled Meshaal, Said Siyam and Yousef al-Zahar, and we will execute this ruling so those filthy people can be made an example,' a statement from the group said. Meshaal is Hamas' Damscus-based political leader while Siyam and

  • Hamas sees referendum as a coup

    Hamas has warned that any move by Palestinian Authority President Abbas to hold a referendum on the fate of the government would be equivalent to a coup. 'We reject making the referendum like a bogeyman to resort to in such situations President Mahmoud Abbas has powers, yes, and he can exercise his powers within the legal limits,' Interior Minister Saeed Seyam told a news conference in Cairo on 18 October. 'But the situation here is not about powers The referendum in itself would be a

  • Hamas surprised by international opposition

    Hamas has expressed surprise over the reaction of the international community to its victory at elections in January. In an article published in the Palestinian press, Ahmed Youssef, a political adviser to Palestinian Authority Prime Minister Ismail Haniya, said he was shocked by the strength of the opposition to the group's electoral win. 'It went beyond all imagination,' Youssef wrote. 'The government did not expect the pressures and the siege imposed on our people would be so harsh, s

  • Hamas surprised by international opposition

    Hamas has expressed surprise over the reaction of the international community to its victory at elections in January. In an article published in the Palestinian press, Ahmed Youssef, a political adviser to Palestinian Authority Prime Minister Ismail Haniya, said he was shocked by the strength of the opposition to the group's electoral win. 'It went beyond all imagination,' Youssef wrote. 'The government…did not expect the pressures and the siege imposed on our people wou

  • Hamas, Fatah agree to end violence

    Rival Palestinian factions Fatah and Abbas on 20 October said they had reached an agreement aimed at ending violence between the groups. Egyptian security officials mediated in overnight talks which culminated in the deal. 'These efforts have been crowned by an agreement between Hamas and Fatah to stop tensions between the two sides and to bring security under control,' Hamas spokesperson Fawzi Barhoum said. A joint trouble-shooting office will be set up to deal with issues which could p

  • Hamas, Fatah agree to end violence

    Rival Palestinian factions Fatah and Abbas on 20 October said they had reached an agreement aimed at ending violence between the groups. Egyptian security officials mediated in overnight talks which culminated in the deal. 'These efforts have been crowned by an agreement between Hamas and Fatah to stop tensions between the two sides and to bring security under control,' Hamas spokesperson Fawzi Barhoum said. A joint trouble-shooting office will be set up to deal with issues whi

  • Hamas, Israel sign fuel agreement

    The Hamas-led Palestinian government has signed a deal with an Israeli company which will supply the territories with fuel. 'We signed the agreement several days ago after more than four months of negotiations,' interim Palestinian finance minister Samir Abu Eisheh announced on 5 October. The contract with Paz, a private Israeli company, will come into force in January 2007 and will replace a previous arrangement with Dor Alon. 'We negotiated with three companies, including Dor Alon, and

  • Haniya breaks down at rally

    Palestinian Prime Minister Ismail Haniya collapsed at a Hamas rally in Gaza on 6 October. Haniya was addressing his supporters when he began to fall and was helped to the ground by bodyguards. Minutes later he returned to his speech, saying 'our bodies get tired, but our soul will not'. The assembly was organised after Palestinian Authority President Abbas on 4 October threatened to dissolve the Hamas-led government if it did not compromise on a political platform for a un

  • Haniya calls for end to violence

  • HEALTHCARE: Cell of the century

    Rarely a week goes by without a foreign bank announcing it is opening an office in Dubai. What used to be a rare event is now a matter of course. But when the bank in question is the Netherlands-based Life-Sciences Group, and the branch is storing not dollars or dinars but stem cells, then a press release would definitely seem to be in order.

  • HEALTHCARE: Cell of the century

    Rarely a week goes by without a foreign bank announcing it is opening an office in Dubai. What used to be a rare event is now a matter of course. But when the bank in question is the Netherlands-based Life-Sciences Group, and the branch is storing not dollars or dinars but stem cells, then a press release would definitely seem to be in order.In mid-September, Life-Sciences subsidiary Cryo-Save Arabia opened the region's first private cord blood stem cell bank. For chief executive

  • HEALTHCARE: Cutting edge

    The diplomat's wife tottered woozily out of the operating theatre. Her nose was covered in an enormous bandage, where 20 minutes earlier plastic surgeon Majid Navab had been hammering away with a chisel and a mallet.

  • HEALTHCARE: Cutting edge

    The diplomat's wife tottered woozily out of the operating theatre. Her nose was covered in an enormous bandage, where 20 minutes earlier plastic surgeon Majid Navab had been hammering away with a chisel and a mallet.

  • HEALTHCARE: Finding a cure

    Formulating a single healthcare policy for a region as diverse as the Middle East is no easy task. 'Health priorities are different in each country,' says a senior World Health Organisation (WHO) representative based in Cairo. 'In the more middle-income countries of the region - Egypt, Jordan and Syria - the main concern is the risk posed by non-communicable diseases such as cardiovascular disease, cancer or diabetes. But in low-income countries such as Yemen and Sudan communicable diseases s

  • HEALTHCARE: Finding a cure

    Formulating a single healthcare policy for a region as diverse as the Middle East is no easy task. 'Health priorities are different in each country,' says a senior World Health Organisation (WHO) representative based in Cairo. 'In the more middle-income countries of the region Egypt, Jordan and Syria the main concern is the risk posed by non-communicable diseases such as cardiovascular disease, cancer or diabetes. But in low-income countries such as Yemen and Sudan communicable diseas

  • HEALTHCARE: Staffing up

    Only 2 per cent of the physicians practising in Qassim province, north of Riyadh, are Saudi nationals. The rest are expatriates. Although the situation is not as drastic elsewhere, over-reliance on foreign workers is a broad characteristic of the Gulf's healthcare sector. 'Until 20 or so years ago, the region lacked locally trained doctors or nurses,' says John Freeman, president of online recruitment agency Arabian Careers. Medical and allied healthcare staff were recruite

  • HEALTHCARE: Staffing up

    Only 2 per cent of the physicians practising in Qassim province, north of Riyadh, are Saudi nationals. The rest are expatriates. Although the situation is not as drastic elsewhere, over-reliance on foreign workers is a broad characteristic of the Gulf's healthcare sector.

  • Hezbollah used cluster bombs, says human rights group

    Human Rights Watch (HRW) on 19 October accused Hezbollah of using cluster bombs during the recent conflict with Israel. Hezbollah used fewer of the munitions than Israel, with only two attacks confirmed. The two rockets were fired at the Arab village of Mghar on 25 July. It was the first time ever that the Chinese-made Type-81 rockets were used, HRW said.'Use of cluster munitions is never justified in civilian-populated areas because they are inaccurate and unreliable,' sa

  • Hidd civils awarded

    The local Ahmed Mansour al-A'ali (AMA) has been awarded the long-awaited BD 30.9 million ($81.3 million) contract to build the infrastructure for the new Khalifa bin Salman port at Hidd. The work includes earthworks, pavement construction and water supply. The Works & Housing Ministry is the client (MEED 15:9:06).

  • Hogan joins Etihad Airways

    After months of speculation, Abu Dhabi-based Etihad Airways announced on 8 October that it had appointed James Hogan as chief executive officer with immediate effect. Hogan joins Etihad from Gulf Air, where, during his four-year tenure, he carried out a major restructuring of the airline.

  • Honeywell takes Tasnee

    The US' Honeywellhas won a $7 millionsubcontract to supply process and safety control systemsfor the Jubail ethylenecracker planned by the local Tasnee Petrochemicals.Under the terms of thecontract, placed by the cracker's engineering, procurement and construction (EPC)contractor, Samsung Engineering Company ofSouth Korea, Honeywellwill supply its Experionprocess knowledge system to manage ethylene production from the 1 million-tonne-a-year facilit

  • Honeywell takes Tasnee

    The US' Honeywellhas won a $7 millionsubcontract to supply process and safety control systemsfor the Jubail ethylenecracker planned by the local Tasnee Petrochemicals.

  • Hospital bids invited

    Dallah Hospital, a subsidiary of the local Dallah Albaraka Group, has invited contractors to submit bids by 11 November for the contract to build a tower next to the existing hospital in Riyadh. The project calls for the construction of a 10-storey building and a convention centre. Saudi Projacs, a subsidiary of Bahrain-based Projacs International, is the project manager.

  • Housing project awarded

    Local property developer Sorouh Real Estate has appointed CRSS International, part of the US' Jacobs Group, to provide project management services on the AED 110 million ($30 million) residential compound it is developing for Abu Dhabi Aviation Authority (ADAA). The complex will be located off Airport road. The project involves the construction of two apartment buildings, 60 townhouses and 20 villas (MEED 23:6:06).

  • HSBC funds SabaFon

    HSBC Amanah has extended a $50 million murabaha facility to local mobile operator SabaFon to finance network expansion to be carried out by Germany's Siemens . The tenor is five years.

  • Hydro to decide on smelter investment

    Norway's Hydro, the foreign shareholder in the Qatalum joint venture, expects to take a final investment decision (FID) by the end of the year on the proposed aluminium smelter project at Mesaieed. 'We are now approaching the investment decision and as part of that process, we are reviewing the project costs, which will be based on all the work we have done since late 2004,' a Hydro spokesperson told MEED in early October. Qatalum, a 50:50 joint venture between Hydro and Qatar Petroleum (QP),

  • In search of a response to the new nuclear age

    UN attempts to prevent nuclear proliferation began in January 1946, five months after Hiroshima and Nagasaki were incinerated. The flaw was that the atomic police were the principal proliferators. By the end of 1964, all five countries that are now members of the UN Security Council had the bomb.

  • In search of a response to the new nuclear age

    UN attempts to prevent nuclear proliferation began in January 1946, five months after Hiroshima and Nagasaki were incinerated. The flaw was that the atomic police were the principal proliferators. By the end of 1964, all five countries that are now members of the UN Security Council had the bomb.

  • Indago drills down onshore

    The UK's Indago Petroleum has started exploration drilling in onshore block 47. The company has spudded Hawamel 1 on the Izz prospect targeting the Natih and Shuaiba formations.

  • Insurers await Riyadh go-ahead

    The Saudi Arabian Monetary Agency (SAMA central bank) is reviewing licence applications from about 10 insurance companies. The submissions under review are from Al-Ahli Takaful, Al-Alamiya Insurance, Al-Rajhi Company for Co-operative Insurance, Arabia Insurance Co-operative Company, Arabian Malaysian Takaful, AXA Co-operative Insurance, BUPA Arabia, Tokio Marine & Nichido Fire Insurance, Trade Union Insurance and United Co-operative Insurance.

  • Insurers seal royal approval

    A royal decree was issued on 9 October approving the licences granted to the first 13 insurance providers under the 2003 co-operative insurance companies control law. The long-awaited approval by the Council of Ministers (cabinet) paves the way for the companies to stage the initial public offerings (IPOs) mandatory before they can receive final approval from the Commerce & Industry Ministry to incorporate and launch operations (Saudi Arabia, MEED Special Report, 22:9:06, pages 55-56).

  • Insurers seal royal approval

    A royal decree was issued on 9 October approving the licences granted to the first 13 insurance providers under the 2003 co-operative insurance companies control law. The long-awaited approval by the Council of Ministers (cabinet) paves the way for the companies to stage the initial public offerings (IPOs) mandatory before they can receive final approval from the Commerce & Industry Ministry to incorporate and launch operations (Saudi Arabia, MEED Special Report, 22:9:06, pages 55-56).

  • Interest polarised in Skikda and Arzew upgrade projects

    State refining company Naftec has received a mixed response to tenders for contracts to revamp two of its ageing refineries. The tenders for the contract to upgrade Arzew refinery received healthy interest, while a poor response for the Skikda upgrade has left the project in danger of being shelved (MEED 29:9:06).

  • Interview: Fadesa: The outsider's view

    How does the real estate investment climate compare with other countries in North Africa and the Middle East? What makes Morocco an attractive place to invest?Morocco is a country with a settled tourism sector, it offers great business opportunities especially in the real estate sector and it is going through a period of economic and social development. Its geographic and symbolic proximity to Europe converts Morocco into a very attractive place to invest. The excellent weather, reason

  • Investcorp recruits

    Bahrain-based Investcorp has acquired German staffing agency TimePartner Group. The group was established in 2004 and has offices in 50 locations in Germany. Investcorp expects that recent labour deregulation will set the stage for increased demand for temporary staff. The company's typical target investment period is four-six years.

  • investment trusts: Trusting in real estate

    Portfolio managers and real estate company owners are championing the benefits of establishing real estate investment trusts (REITs) in an increasing number of markets. And in its quest to be the financial hub for the region, the Dubai International Financial Centre (DIFC) has introduced its own REIT legislation. New rules announced in August will regulate the collective investment vehicles that pool investor cash to buy, manage and sell real estate assets, including buildings and shares in o

  • investment trusts: Trusting in real estate

    Portfolio managers and real estate company owners are championing the benefits of establishing real estate investment trusts (REITs) in an increasing number of markets. And in its quest to be the financial hub for the region, the Dubai International Financial Centre (DIFC) has introduced its own REIT legislation. New rules announced in August will regulate the collective investment vehicles that pool investor cash to buy, manage and sell real estate assets, including buildings and share

  • IRAN

    Prequalification. Project no P071170. Supply of Helidasht and Ghaemshahr pumping station systems as part of the water supply and sanitation sector's Al-Borz integrated land and water management project for the Mazandaran Regional Water Company. It is expected that invitations to bid will be made in December. Financed by the World Bank.

  • IRAN

    (Open to local/foreign contractors or consortiums, including the provision of financing for 85 per cent of the total contract price). Construction of the 137-metre-high Shafarud reinforced concrete (RCC) dam. The dam will have a volume of 1.2 million cubic metres, appurtenant structures and hydropower plant. The project includes the supply of all equipment, installation and operation of hydro-mechanical equipment and construction of access and relocation roads located about 2.5 kilometres west o

  • IRAN

    Tender no 85-30. Supply of 100,000 tonnes of UIC-60 rails.

  • IRAN

    Tender no 18-85-06. Reconstruction and renewal of 170 kilometres of the south railway line, supply of all construction materials and two years' track maintenance. Bid bond is IR 4,130 million or Eur 352,000.

  • IRAN

    Tender no 18-85-03. Reconstruction and renewal of 160 kilometres of the southeast railway line, supply of all construction materials and two years' track maintenance. Bid bond is IR 3,630 million or Eur 310,000.

  • IRAN

    Tender no 18-85-04. Reconstruction and renewal of 100 kilometres of the north railway line, supply of all construction materials and two years' track maintenance. Bid bond is IR 2,450 million or Eur 210,000.

  • IRAN

    Expressions of interest. (Open to local/foreign contractors or joint venture consortiums only). Finance, supply, transportation, installation, construction and commissioning of 270 kilometres of steel pipeline for the second water transmission line to Tabriz in East Azerbaijan province. The scope of works comprises: 1) 170 kilometres of 1,200-2,000-millimetre-diameter main pipeline; and 2) 100 kilometres of 300-900-millimetre-diameter incidental branches, and installed valves.

  • IRAN

    Tender no 85-81. Supply of equipment and provision of services for the supervision of a site test and commissioning of eight rectifier substations for the Tabriz light railway transport (LRT) project. Bid bond is IR 2,750 million or $300,000.

  • IRAN

    Tender no 85/25. Supply of 45,000 tonnes of calcined petroleum coke.

  • IRAN

    Prequalification. Tender no 85/060-OE. Supply of the following catalyst for an SRU unit: 1) 56 tonnes of high-performance Claus catalyst based on promoted TIO2; 2) 107 tonnes of superior advanced Claus alumina base catalyst; and 3) 30 tonnes of promoted alumina beads for the prevention of sulphate poisoning. Bid bond is IR 270 million or $30,000.

  • IRAN

    Tender no 85/21B. Supply of cesium central clock equipment. Bid bond is Eur 2,140.

  • IRAN

    CD extension. Prequalification. (Open to qualified local/foreign joint venture contractors with at least 51 per cent local partner share). Carrying out, on a buy-back basis, phases 23 and 24 of the South Pars gas field development project. The main objectives are: 1) to supply 40 million cubic metres a day of treated natural gas to the domestic network; 2) petrochemical grade ethane gas recovery at a minimum rate of 750,000 tonnes a year (t/y); 3) premium grade liquefied petroleum gas (LPG) r

  • IRAN

    Expressions of interest. Project no P076884. Provision of consultancy services comprising a septage management study in Sari and Babol (Mazandaran) as part of the northern cities water supply and sanitation project. The Mazandaran Water & Wastewater Company is investing in wastewater collection in both Sari and Babol, with a total population of about 250,000 and 200,000 people respectively. A new wastewater treatment plant is under construction in Babol and another one will be built in Sari. The

  • IRAN

    Tender no 85/06. Supply of four fire-fighting tugs. Bid bond is Eur 300,000.

  • IRAN

    Supply of 50,000 million tonnes of sandy metallurgical-grade calcined alumina in jumbo bags, to be used in the Bandar Abbas smelter. Bid bond is IR 550 million or Eur 50,000.

  • IRAN

    Supply of chemical fertilisers.

  • IRAN

    Tender no OF/85/138. Provision of cement pumping services. Bid bond is IR 172 million or $18,700.

  • IRAN

    Supply and installations of an exposed polyvinyl chloride (PVC) geocomposite sealing system (GSS) to be fitted to the upstream face of the main tailings retaining embankment at the Sarcheshmeh copper mine, 55 kilometres south of Rafsanjan city, in Kerman Province. The scope of works comprises: 1) dam details: a 19-metre-high zone rock-fill embankment, a two-stage raise of an existing 75-metre-high embankment; 2) GSS properties: PVC geocomposite (3 millimetre-thick PVC geomembrane thermally co

  • IRAN

    Prequalification. Carrying out, on an engineering, procurement and construction (EPC) basis, the Assaluyeh condensate storage tank farm construction project as back-up storage facilities for all phases of the South Pars development in Assaluyeh. The project's scope comprises: 1) total gross required storage capacity of 600,000 cubic metres consisting of three double-deck floating roof single shell tanks; 2) each tank will be installed in a dedicated band; 3) designs will be in accordance with AP

  • Iran activates new cascade

    Tehran is reported to have activated its second cascade, a set of centrifuges that will enrich uranium for use in Iran's atomic fuel programme. The manufacture of industrial-scale enriched uranium would require tens of thousands of such cascades and Tehran has consistently maintained that its enrichment programme is designed purely to meet domestic energy requirements. However, the UN Security Council members are understood to be preparing to propose packages of economic sancti

  • Iran condemns North Korea's nuclear test

    Iran on 10 October said it was against any country holding nuclear weapons after North Korea announced the previous day that it had conducted its first underground nuclear test. 'Iran is against the use and production of nuclear weapons,' Iranian government spokesperson Gholamhossein Elham said. 'No country is competent to use nuclear weapons.'The West's nuclear standoff with Iran continues. The UN Security Council is considering imposing punitiv

  • Iran is being bullied, says Ahmadinejad

    Iranian President Ahmadinejad on 11 October said the Islamic republic was being bullied by some world powers over its nuclear programme. He did not specify which countries he was referring to, but it is likely he meant the US and European states. The five permanent members of the UN Security Council plus Germany on 6 October agreed to discuss possible sanctions against Tehran. 'Their latest decision was to gather all their political force and frown at us, cast bad looks an

  • Iran is being bullied, says Ahmadinejad

    Iranian President Ahmadinejad on 11 October said the Islamic republic was being bullied by some world powers over its nuclear programme. He did not specify which countries he was referring to, but it is likely he meant the US and European states. The five permanent members of the UN Security Council plus Germany on 6 October agreed to discuss possible sanctions against Tehran. 'Their latest decision was to gather all their political force and fro

  • Iran plans nuclear tourism

    Foreign tourists will be able to visit Iran's nuclear sites, the country's state news agency Irna reported on 4 October. 'Foreign tourists can visit Iranian nuclear sites after President Ahmadinejad issued an authorisation ordering this organisation to study ways to do so,' said Esfandyar Rahim Mashaii, head of Iran's Tourism and Cultural Heritage Organisation. It is unclear what the nature of the visits will be or when they will be allowed. Possible attractions could incl

  • Iran proposes nuclear deal with French

    The deputy director of Iran's atomic energy agency on 3 October called for the creation of a joint venture with France to enrich uranium in the Islamic republic. Mohammed Saeedi was speaking on French radio when he floated the idea, which he said could be a solution to Tehran's nuclear standoff with the West. The arrangement would allow France to monitor Iran's nuclear activity. The West is likely to object as enacting the proposal means enrichment would continue on Iranian soil.

  • Iran snubs UN despite sanctions threat

    Iran on 8 October said it will not suspend uranium enrichment after the five permanent UN Security Council members plus Germany said they were prepared to discuss sanctions. 'This suspension is completely unacceptable and we have rejected it,' Foreign Affairs Ministry spokesperson Mohammed Ali Hosseini said. 'The threat of sanctions is an inefficient means to achieve a solution.' Following a meeting of the six states in London on 6 October, UK Foreign Affairs Secretary Mar

  • Iran warns EU over sanctions

    Iranian chief nuclear negotiator Ali Larijani on 18 October warned EU states against pushing for a UN Security Council resolution which would impose sanctions on Tehran. 'If the other side [the EU] yields to American pressure, it is natural that the situation will become radical,' he told Iran's Mehr News Agency. 'The world will not end but it will affect all our co-operation, in which I think the other side will lose more.'Larijani did not specify what co-operation would

  • Iran warns EU over sanctions

    Iranian chief nuclear negotiator Ali Larijani on 18 October warned EU states against pushing for a UN Security Council resolution which would impose sanctions on Tehran. 'If the other side [the EU] yields to American pressure, it is natural that the situation will become radical,' he told Iran's Mehr News Agency. 'The world will not end but it will affect all our co-operation, in which I think the other side will lose more.'Larijani did not speci

  • Irancell starts up private network

    Irancell has launched its new GSM network in Tehran, Mashhad and Tabriz.

  • Irancell starts up private network

    Irancell has launched its new GSM network in Tehran, Mashhad and Tabriz.

  • IRAQ

    Tender no 5332/QR-03A/2006. Supply of pump motor sets for the rehabilitation of the East Baghdad oil field.

  • IRAQ

    Tender no 5341/QR-03/2006. Supply of a scraper trap skid-mounted system, materials, valves and drainage vessels for the Shuaiba-Aumara oil product pipeline.

  • IRAQ

    Tender no 1393/2005. Supply of a complete steam turbine for cooling water pumps. Bid bond is 2 per cent of tender price and performance bond is 10 per cent of contract price.

  • IRAQ

    Tender no PL/I/18/2006. Supply of a supervisory control and data acquisition (SCADA) system for a gas and oil products movement control centre.

  • IRAQ

    Expressions of interest. Project no P087734. Provision of pre-contract award services for the rehabilitation of units 2 and 3 of the Hartha power station as part of the emergency electricity rehabilitation project. Finance has been sought from the World Bank.

  • IRAQ

    Expressions of interest. Project no P087734. Provision of consultancy services comprising the supervision of the rehabilitation of units 2 and 3 of the Hartha power station as part of the emergency electricity rehabilitation project. Finance has been sought from the World Bank.Details from Electricity Ministry, Economic Office, Tenders Department, Al-Bab al-Sharqe, Near Oil Ministry, Baghdad, telephone (964) 8154087/6/3/2, email econodept@yahoo.com.

  • IRAQ

    Tender no 2081-QR-01. Supply of two water treatment units and river intake facilities at Muftyia in Basra. The scope of works comprises the design, including basic and detailed engineering, supply of materials, supervision of erection, commissioning and test runs for the 1,000-cubic-metre-an-hour (cm/h) units, with water intake at the Shatt al-Arab river with capacity of 5,500 cm/h, with an option to perform the erection and installation works. The treated water is stored in two 5,000-cubic-m

  • IRAQ

    CD extension. Tender no 1622/2006. Supply of a 240-tonne TBN booster. Bid bond is 3 per cent of tender price and performance bond is 5 per cent of contract price.

  • IRAQ

    Tender no 3578/2006. Supply of two eight-tonne carry deck cranes with two front-wheel drive and a two-six-metre double-acting cylinder boom. Bid bond is 3 per cent of tender price and performance bond is 5 per cent of contract price.

  • IRAQ

    Tender no 3585/2006. Supply of three high-voltage power cables. Bid bond is 3 per cent of tender price and performance bond is 5 per cent of contract price.

  • IRAQ

    Tender no 1630/2006. Supply of 100 litres of ASTM knock test reference fuel (normal heptane). Bid bond is 3 per cent of tender price and performance bond is 5 per cent of contract price.

  • Iraq announces new security plan

    Iraqi Prime Minister Nouri al-Maliki on 2 October announced a four-point plan designed to curb sectarian violence across the country and especially in Baghdad. The so-called 'Ramadan Agreement' will set up local security committees compromised of members of all factions regardless of the sectarian make-up of the neighbourhood in question. The plan will also create a Central Committee for Peace and Security. The third point provides for oversight of the media and the fourth calls for the

  • Iraq has potential for success, US ambassador

    Iraq can still be stabilised despite the ongoing sectarian violence, according to Zalmay Khalilzad, the US ambassador to Baghdad. 'Success in Iraq is possible and can be achieved on a realistic timetable,' Khalilzad said during a joint press conference with US military chief George Casey in Baghdad. 'The outcome will profoundly shape the wider struggle and in turn the security of the world.' Khalilzad also outlined a plan to reform Iraq's security forces by the end of the year.

  • Iraqi police brigade taken off duty

    An entire Iraqi police brigade was demobilised on 4 October after it was suspected of having connections to sectarian death squads. The 8th Brigade of the second division of the Iraqi National Police will be moved to a US military base where it will receive retraining. 'There was clear evidence that there was some complicity in allowing death squad elements to move freely, when in fact they were supposed to be impeding their movement,' US military spokesperson Major General William Caldw

  • Iraqi prime minister makes militia pledge

    Iraqi Prime Minister Nouri al-Maliki vowed on 25 October to tackle the country's illegal militias he blames for the escalation in sectarian violence. 'We will seek a full explanation from the multi-national forces,' Al-Maliki said during a news conference. 'We will strike hard at anyone who defies the law or transgresses the authority of the state.' However, he denied reports that Baghdad had accepted from Washington a schedule in which to solve the sectarian problems. 'I affir

  • Iraqi vice-president's brother shot dead

    Gunmen on 9 October shot dead the brother of Iraqi Vice-President Tariq al-Hashimi. Insurgents in police uniforms killed Amer al-Hashimi, a major general in the Iraqi army, after storming his home in the Sulaikh district of Baghdad. Tariq al-Hashimi heads the Iraqi Islamic Party, the biggest Sunni bloc in parliament. 'They killed his guards before killing him and abducting his son,' an IIP spokesperson said. Earlier this year, Al-Hashimi's other brother and his sister were also

  • Islamic bank plans IPO

    The initial public offering (IPO) of shares inSyrian International Islamic Bank (SIIB) will be launched by early November. On offer to local private investors will be 5.1 million shares priced at £Syr 500 ($10) each. Subscription will be through both public and private banks. Foreign shareholders will have a 49 per cent stake in the new bank, which will be capitalised at $100 million.Qatar International Islamic Bank will have a 30 per cent share and private Qatari investors will take a 19 per ce

  • Israel kills six Palestinians in Gaza

    An Israeli raid on the Gaza Strip on 12 October left six Palestinians, including three Hamas militants, dead. Israeli troops entered the village of Abassan in southern Gaza overnight, triggering clashes. The army confirmed that its soldiers were operating in the area. 'This is an area believed to conceal tunnels and other forms of infrastructure used by terrorist groups, an army spokesperson told Reuters news agency. Hamas militants retaliated by firing six rockets into Israel.

  • Israel kills six Palestinians in Gaza

    An Israeli raid on the Gaza Strip on 12 October left six Palestinians, including three Hamas militants, dead. Israeli troops entered the village of Abassan in southern Gaza overnight, triggering clashes. The army confirmed that its soldiers were operating in the area. 'This is an area believed to conceal tunnels and other forms of infrastructure used by terrorist groups, an army spokesperson told Reuters news agency. Hamas militants retaliated by firing six rockets into Israel.

  • Israel strikes Hamas MPs home

    Israeli jets on 11 October bombed the Gaza home of Mariam Farhat, a popular Hamas MP. Residents were warned of the imminent attack and no casualties were reported. The Israeli army said the strike had targeted a weapons storage and manufacturing facility. Farhat, who is also known as Umm Nidal, first became known after she appeared in video with her son before he killed five people in a shooting spree in an Israeli settlement in 2000. Also on 11 October, Isr

  • Israel strikes Hamas MPs home

    Israeli jets on 11 October bombed the Gaza home of Mariam Farhat, a popular Hamas MP. Residents were warned of the imminent attack and no casualties were reported. The Israeli army said the strike had targeted a weapons storage and manufacturing facility. Farhat, who is also known as Umm Nidal, first became known after she appeared in video with her son before he killed five people in a shooting spree in an Israeli settlement in 2000.

  • Israeli court rules on war investigation

    Israel's Supreme Court on 6 October ordered the government to explain why it has refused to set up a state commission to investigate Israel's conduct during its 34-day conflict with Lebanese Hezbollah. The court, responding to a petition by civil groups, has given the government a five-day ultimatum to respond.In September, the Israeli cabinet approved plans to establish teams appointed by the government to probe the handling of the war. This did not appease critics who ar

  • Israeli PM in bribery allegation

    Israeli Prime Minister Ehud Olmert was under investigation on 25 October over charges that he accepted bribes during his time as acting finance minister in 2005. The allegations, posted on an Israeli website, relate to the privatisation of Bank Leumi and are now being investigated by the office of Israel's attorney-general. Olmert is already under investigation over the sale of a property in Jerusalem to a political supporter. These new allegations come amid the investigation o

  • Israeli war general fired

    Israel's army chief Dan Halutz on 5 October fired Yiftah Ron-Tal, a senior general, for criticising the army's conduct during the war in Lebanon. By making the comment in media interviews a day earlier, Ron-Tal was in breach of a ban on Israeli soldiers commenting publicly on political and diplomatic issues. Ron-Tal said Halutz should 'accept responsibility' for the 'failure' of the offensive.

  • Istithmar goes on shopping spree

    Dubai-based investment house Istithmar announced two major investments in the second week of October. The company's latest acquisition is the landmark W Hotel Union Square in New York worth $285 million. Istithmar subsidiary Istithmar Hotels will manage the hotel. The purchase is Istithmar's fifth property buy in New York, following the acquisition in early 2006 of Knickerbocker Hotel in Times Square for $300 million (MEED 9:6:06).Istithmar has also acquired a 2.7 per cent stake in Stand

  • Italians take stake in Bank Alex

    Italy's San Paolo IMI has won an 80 per cent stake in Bank of Alexandria, the fourth largest commercial bank in Egypt. The shares were sold off in an auction on 17 October. Five other banking groups were in the running for the purchase: Arab Bank with Arab National Bank; Mashreqbank with Dubai Investment Group; BNP Paribas; Commercial International Bank (CIB); and EFG Eurobank. Revenues from the sale will go towards restructuring Banque du Caire, Banque Misr and National Bank o

  • Italians win Bank of Alexandria auction

    Sanpaolo IMI on 17 October won the auction for an 80 per cent stake in Bank of Alexandria (BoA) for $1,600 million or£E 72.20 ($12.56) a share. The price, at about 5.5 times book value, was considerably higher than many analysts had expected.

  • IWPP syndication done

    Syndication has been completed of the debt package for the Fujairah independent water and power project (IWPP), after the mandated lead arrangers (MLAs), Barclays Capital and Societe Generale, raised the fees offered on the $1,275 million, 22-year term loan to 80 basis points (bp) from 60 bp. The margin ranges from 65-120 bp. The tight pricing still kept out most regional banks. The financing package also includes a $225 million, seven-year equity bridge (MEED 22:9:06).

  • J&P wins Nuayyim plant

    Cyprus-based Joannou & Paraskevaides (J&P Overseas) has been selected for the contract to build the gas-oil separation plant (GOSP) on the Nuayyim oil field project. The client, Saudi Aramco , is due to sign the contract soon (MEED 1:9:06).

  • Jazeera capital flies high

    Local low-cost carrier Jazeera Airways will double its capital to KD 20 million ($35 million) through the issue of 100 million shares. The company plans to list all its shares on the Kuwait Stock Exchange in the first quarter of 2007. The new funds will support the expansion of its Airbus A320 fleet. The airline has confirmed orders with Airbus for 10 new planes, four of which have been delivered. Jazeera is in negotiations with National Bank of Kuwait and a consortium of international banks for

  • Jet Group to tackle housing shortage

    Private investors are set to begin an investment programme that will see the construction of 32,000 new housing units. The new housing will help to alleviate an acute shortage in the kingdom.

  • Joint venture wins Gasco pipelines

    A joint venture of Athens-based Consolidated Contractors International Company (CCC) and National Petroleum Construction Company (NPCC) has been awarded two pipeline contracts worth an estimated $340 million by Abu Dhabi Gas Industries Company (Gasco).

  • JORDAN

    Tender no 28-WB/2006. Project no P075829. Supply of the following tools and equipment for physics laboratories for schools as part of the education and training sector's education reform for knowledge economy I (ERfKE1) project: 1) electric experimental equipment; 2) electronic experimental equipment; 3) optical experimental equipment; 4) sound and waves experimental equipment; 5) pressure and fluid mechanics experimental equipment; 6) mechanics experimental equipment; 7) magnet experimental equ

  • JORDAN

    Tender no 42-WB/2006. Project no P075829. Supply of the following tools and equipment for biology laboratories for schools as part of the education and training sector's education reform for knowledge economy I (ERfKE1) project: 1) devices and tools; 2) models; 3) prepared slides for projectors; 4) bio-chemicals; and 5) prepared microscopic slides. Contractors may bid for one or several lots. Financed by the World Bank.

  • JORDAN

    Tender no PDT5/75/46/2006. Supply of aerial and underground cables.

  • Jordan convicts Islamist militants

    A military court in Jordan has found eight Islamist militants guilty of conspiring to kill Americans and Jews in Jordan and for planning to send fighters to Iraq. The men were sentenced to two-10 years in prison. Three of the defendants are still at large. Ahmed Shabaneh, the leader of the group, was handed a 10-year term. The court found that Shabaneh had formed the Al-Taefa al-Mansoura group in 2003. The group then planned to attack US soldiers training Iraqi police recr

  • Jordanian envoy pulls out of UN race

    Jordan's UN envoy Prince Zeid al-Hussein on 5 October withdrew from the race for the position of secretary-general after Security Council members indicated his South Korean rival would get the job. Foreign Affairs Minister Ban Ki-Moon won a majority of votes in the council. Qatar's failure to vote for Prince Zeid triggered a diplomatic dispute with Jordan, which withdrew its ambassador from Doha on 2 October.A formal vote is due to take place on 9 October. Kofi Annan's ter

  • Judge ejects Saddam

    Saddam Hussein on 10 October was once more thrown out of his trial for his role in the 1980s Anfal campaign. The foremer Iraqi leader, facing charges of genocide, was ejected by Chief judge Mohammed Oreibi al-Khalifa after he shouted out a verse from the Koran. Saddam's co-defendants stood up and protested against his ejection, the fourth since the trial began. The judge then removed Hussain Rashid al-Tikriti, who retaliated by punching a guard. The trial continued in clos

  • JV wins Ras Laffan work

    A joint venture (JV) of Belgium's Six Construct and Interbeton of the Netherlands has been awarded an estimated $125 million subcontract on the Ras Laffan port expansion. Placed by the Belgian/Dutch JV of Jan de Nul and Royal Boskalis Westminster, the 20-month contract involves the supply and delivery of concrete armour which will be placed on top of the rock work for the 21 kilometres of breakwater. In total, the subcontract will require about 650,000 cubic metres of concrete. Qatar Petroleum i

  • Kayan issues tenders for new Jubail units

    The $8,000 million Saudi Kayan Petrochemical Company complex in Jubail stepped up another gear in early October, with the release of invitation to bid (ITB) documents for the phenolics complex and high-density polyethylene (HDPE) unit packages.

  • Keppel cleans up

    Singapore's Keppel Integrated Engineering (KIE) has received a letter of award for the contract to design, build, operate and maintain a new domestic solid waste management centre over a period of 20 years. The scope of works includes the construction of four new transfer stations at Al-Khor, Doha west, the industrial area and Doha south with capacity ranging from 200-600 tonnes a day (t/d), an incinerator, a landfill and composting plant. The total value of the contract, according to Keppel,

  • Khartoum expels UN envoy

    The UN's head of mission in Sudan has been ordered home by the government following claims published in his internet diary that the national army have suffered heavy defeats in the Darfur region.Jan Pronk, who has been the international organisation's special representative for Sudan since June 2004, has been given until 12:00 on Wednesday to leave the country.'Morale in the government army in north Darfur has gone down,' wrote Pronk. 'Some generals have bee

  • Khartoum expels UN envoy

    The UN's head of mission in Sudan has been ordered home by the government following claims published in his internet diary that the national army have suffered heavy defeats in the Darfur region.Jan Pronk, who has been the international organisation's special representative for Sudan since June 2004, has been given until 12:00 on Wednesday to leave the country.'Morale in the government army in north Darfur has gone

  • Kingdom targets capital tourism

    A team of Arriyadh Development Authority (ADA) and the Supreme Commission for Tourism (STC) is pressing ahead with plans to redevelop the historic Addiriyah village in Riyadh. The scheme is part of an overall programme to clean up the Wadi Hanifah area.

  • Kingdom targets capital tourism

    A team of Arriyadh Development Authority (ADA) and the Supreme Commission for Tourism (STC) is pressing ahead with plans to redevelop the historic Addiriyah village in Riyadh. The scheme is part of an overall programme to clean up the Wadi Hanifah area.The redevelopment will be divided into several elements. They include: the restoration of Addiriyah's central Al-Tarif archaeological site; turning rundown areas into urbanised modern districts while preserving local architecture; and

  • Kipco targets North Africa

    Kuwait Projects Company (Kipco) has launched a KD 50 million ($173 million) holding company to invest in North Africa. Kipco subsidiary Kipco Asset Management Company (Kamco) has arranged the transaction and raised the capital for the new company, North Africa Holdings. Kipco has a majority stake in the company, with the remaining 500 million shares placed with strategic investors, which include Kuwait's Public Institution for Social Security and Zummoroda Investment for Asset Management Comp

  • KNPC tenders tank farm

    State refinery operator Kuwait National Petroleum Company (KNPC) has invited eight local contractors to submit bids by 17 December for the contract to upgrade the tank farms at its three refineries.

  • KSE appoints al-Faleh

    The Council of Ministers (cabinet) drew up on 8 October a draft law appointing Saleh Mubarak al-Faleh as the new director-general of the Kuwait Stock Exchange (KSE). The draft law will now be sent to Amir Sheikh Sabah al-Ahmad al-Sabah for final approval. The same day, the cabinet accepted the resignation of the former KSE director-general Saafaq al-Rukaibi. Al-Rukaibi resigned in the summer, citing political interference in the running of the bourse.

  • KSE appoints al-Faleh

    The Council of Ministers (cabinet) drew up on 8 October a draft law appointing Saleh Mubarak al-Faleh as the new director-general of the Kuwait Stock Exchange (KSE). The draft law will now be sent to Emir Sheikh Sabah al-Ahmad al-Sabah for final approval. The same day, the cabinet accepted the resignation of the former KSE director-general Saafaq al-Rukaibi. Al-Rukaibi resigned in the summer, citing political interference in the running of the bourse.

  • Kurdish demonstration stopped by Syrian police

    Syrian police on 5 October prevented a planned demonstration by Kurds seeking Syrian nationality. Police deployed near government buildings in Damascus where the protest was due to take place. 'Authorities forcefully prevented demonstrators from gathering by beating them,' a member of the organising committee told AFP news agency. 'The demonstrators numbered around 500.' According to the demonstration, the goal of the demonstration was to recover Syrian nationality, to fin

  • KUWAIT

    Tender no 2/2006. (Open to prequalified contractors only.) Manufacture, supply and installation of a bridge forklift for the Shuwaikh port complex for Kuwait Ports Authority. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 22 November.

  • KUWAIT

    CD extension. Tender no RFP/1361. (Open to prequalified contractors only.) Installation of non-smoke finger igniters at gathering centres (GCs) 17, 27 and 28 and supporting station 170 for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 10 October.

  • KUWAIT

    Tender no ME/EW/33/2006/2007. (Open to prequalified contractors only.) Maintenance of a 433/11-kV sub-transformer station for the Energy Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Prequalification. Design, supply, installation and commissioning, and provision of training, for maintenance support and warranty of a fully solid state electrical infrastructure works project and south power building for Kuwait International Airport.

  • KUWAIT

    Prequalification. Tender no PQ-06/05. Provision of waste management services.

  • KUWAIT

    CD extension. Tender no RFP/1360. Replacement of nine crude oil pipelines.

  • KUWAIT

    Tender no ME/EW/58-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of a main drinking water distribution line from the Al-Mutalaa al-Aali water distribution complex (E14) to the West Funaitees water distribution complex (E13) C4-3 (stage three) for the Energy Ministry. Bid bond is 2.5 per cent of tender price.

  • KUWAIT

    Tender no ME/EW/47-2006/2007. (Open to prequalified contractors only.) Supply and installation of an 11/132/300-kV main station at Al-Siddiq W and expansion of the Ahmadi W station for the Energy Ministry. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 28 October.

  • KUWAIT

    Tender no ME/EW/60-2006/2007. (Open to prequalified contractors only.) Replacement of 132-kV cross-linked polyethylene (XLPE) cables at the Al-Zour southern electricity power and water distillation station for the Energy Ministry. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 28 October.

  • KUWAIT

    Tender no RFP/1430. (Open to prequalified contractors only.) Construction of flow lines and associated works for injector wells in the north for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 30 October.

  • KUWAIT

    Tender no PA/Sh.AM/49/2006-2007. Construction, completion and maintenance of stores and administration buildings for the Public Authority for Applied Education & Training's Supplies & Stores Department in Shuwaikh. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 30 October.

  • KUWAIT

    Tender no 21/2006-2007. Provision of logistics services for the Interior Ministry's General Directorate of Supplies & Procurement. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 30 October.

  • KUWAIT

    CD extension. Tender no RFP/1349. Provision of a heliport near the west Kuwait office complex.

  • KUWAIT

    CD extension. Tender no RFP/1360. Replacement of nine crude oil pipelines.

  • KUWAIT

    Tender no ME/EW/36/2006-2007. (Open to prequalified contractors only.) Carrying out overhauling, modification and maintenance works for the Jahra district control centre for the Energy Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 15 October.

  • KUWAIT

    CD extension. Tender no ME/EW/8/2005-2006. Carrying out civil, mechanical and electrical works for the construction, completion and maintenance of a water mixing, treatment and testing station at Shuwaikh for the Energy Ministry.

  • KUWAIT

    CD extension. Tender no ME/EW/42/2006-2007. Carrying out upgrading and production increase works for distillers at the Doha East power station for the Energy Ministry.Details from Central Tenders Committee, PO Box 1070, Safat 13011, telephone (965) 2401200, fax (965) 2416574.

  • KUWAIT

    Tender no RFP/1329. (Open to prequalified contractors only.) Provision of construction services for the Ahmadi township (part 1) for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price.

  • KUWAIT

    Tender no 1161/PD/CB. (Open to prequalified contractors only.) Carrying out a tank farm upgrading project for Kuwait National Petroleum Company's three refineries. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 6 November.

  • KUWAIT

    Tender no ME/EW/22-2006/2007. (Open to prequalified contractors only.) Supply of fuses for electricity distribution networks for the Energy Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no KU/EZ/MX/M/06/2006. Design, fabrication and supply of economy-class seats for A340 and B777 aircraft and free training on maintenance. Bid bond is 5 per cent of tender price and performance bond is 10 per cent of contract price. A pre-bid meeting will take place on 18 October.

  • Kuwait Drilling wins again

    Kuwait Drilling Company (KDC) has won a rig supply contract for Kuwait Oil Company (KOC). Worth KD 22.2 million ($77 million), the five-year contract covers the supply and operation of a 3,000-hp, semi-automated onshore drilling rig. KDC recently signed a KD 43.4 million ($150 million) deal to supply and operate two onshore rigs, and in March was awarded a KD 21.7 million ($75 million) contract to supply and operate a medium-depth onshore drilling rig (MEED 29:9:06; 31:3:06).

  • Kuwait signs Iraq tech deal

    Kuwait Petroleum Corporation (KPC) chief executive officer and vice- chairman Hani Hussain has confirmed that Kuwait and Iraq will soon sign technical co-operation agreements for the joint development of fields along the two countries' border.

  • Kuwait: Outage outcry

    If there is one place that encapsulates the issues facing the Gulf power sector, it's Kuwait. Record electricity demand, a desperate shortage of EPC contractors, a lack of gas: Kuwait has had the lot in recent months. And nearly all of it has been played out in full public gaze, with the National Assembly (parliament) taking the government to task at a time when it is enjoying record surpluses.

  • Kuwait: Outage outcry

    If there is one place that encapsulates the issues facing the Gulf power sector, it's Kuwait. Record electricity demand, a desperate shortage of EPC contractors, a lack of gas: Kuwait has had the lot in recent months. And nearly all of it has been played out in full public gaze, with the National Assembly (parliament) taking the government to task at a time when it is enjoying record surpluses.The catalyst for the outcry came in August, when unprecedented peak demand led to power outages

  • Lawyer calls for dismissal of Hamas government

    A Palestinian lawyer on 16 October filed a lawsuit, calling on a Gaza court to order Palestinian Authority President Abbas to dismiss the Hamas-led government. Wasim Abu Rass, an Abbas supporter, said the court would hear his case on 21 October. The case is the first of its kind to be brought before a court since Hamas took office in March. In his petition, Abu Rass blames the Hamas government for the disintegration of the security and economic situation in the Palestinian

  • Lawyer calls for dismissal of Hamas government

    A Palestinian lawyer on 16 October filed a lawsuit, calling on a Gaza court to order Palestinian Authority President Abbas to dismiss the Hamas-led government. Wasim Abu Rass, an Abbas supporter, said the court would hear his case on 21 October. The case is the first of its kind to be brought before a court since Hamas took office in March. In his petition, Abu Rass blames the Hamas government for the disintegration of the security and economic s

  • Lebanese soldiers take control of border

    Lebanese troops on 1 October deployed on the southern border after Israeli troops came close to completing their pullout a day earlier. The move comes six weeks after a UN ceasefire came into effect, ending the 34-day war. UN Security Council resolution 1701 called for the deployment of 15,000 UN peacekeepers and the same number of Lebanese troops in southern Lebanon. Some 5,000 UN troops and 15,000 Lebanese soldiers are now operating in the area. Some Israeli troops remai

  • LEBANON

    CD extension. Supply of computers and network related equipment for general education public schools for the Education & Higher Education Ministry. Financed by the World Bank. Bid bond is $140,000.

  • LEBANON

    Expressions of interest. Provision of consultancy services comprising detailed design and tender documents for the construction of main sewer collectors and related collection systems within the Al-Ghadir wastewater project in south Beirut. The consultant will also assist the Council for Development & Reconstruction (CDR) during the tendering of the project, and will act on behalf of the CDR, as the supervising engineer during the construction phase of the project. Financed by Germany's Kreditan

  • LEBANON

    Supply and installation of an education management information system, including software, hardware and related services, for the Education & Higher Education Ministry's education development project. Financed by the World Bank. A pre-bid meeting will take place on 20 November. Bid bond is $55,000.

  • LEBANON

    CD extension. Construction of Tripoli wastewater treatment plant's sea outfall on a turnkey design and build basis as part of the Tripoli wastewater project. The project will include design, civil works, construction, procurement, supply and installation of mechanical, electrical and instrumentation equipment and plant, and testing and commissioning of the outfall. Financed by the European Investment Bank.

  • Lebanon looks to Arab states for assistance

    Lebanese Prime Minister Fouad Siniora on 17 October appealed to Arab states for funding to help the reconstruction effort. Siniora was addressing a meeting of the Arab League's Economic & Social Council. 'We want our brothers to give renewed and concrete support - to cover all the needs of the public and private sectors and to overcome an ordeal that has been going on for three decades,' he said.'The Lebanese have paid a heavy price in lives and properties as a result of t

  • Lebanon looks to Arab states for assistance

    Lebanese Prime Minister Fouad Siniora on 17 October appealed to Arab states for funding to help the reconstruction effort. Siniora was addressing a meeting of the Arab League's Economic & Social Council. 'We want our brothers to give renewed and concrete support - to cover all the needs of the public and private sectors and to overcome an ordeal that has been going on for three decades,' he said.'The Lebanese have paid a heavy price in lives and

  • lebanon: Solid foundations

    Mountains of rubble are all that remains of the southern suburbs of Beirut. The clean-up operation is under way and is expected to take years to complete. Yet only a few kilometres further north the contrast could not be clearer - crowds are already thronging the Place de L'Etoile and the city centre.

  • lebanon: Solid foundations

    Mountains of rubble are all that remains of the southern suburbs of Beirut. The clean-up operation is under way and is expected to take years to complete. Yet only a few kilometres further north the contrast could not be clearer crowds are already thronging the Place de L'Etoile and the city centre.The Beirut central district (BCD) the main driver of the real estate market in the country emerged largely unscathed from the recent conflict, as most Israeli air strikes were focused o

  • Legal briefing: Shuaibah: Making the project pay

    The Shuaibah independent water and power project (IWPP) was hailed as a landmark for the Gulf utilities sector when project agreements were signed late last year. Not only was the 900-MW, 194 million-gallon-a-day plant the first IWPP in Saudi Arabia, it also represented the world's largest greenfield power and desalination project in terms of debt financing.

  • Legal briefing: Shuaibah: Making the project pay

    The Shuaibah independent water and power project (IWPP) was hailed as a landmark for the Gulf utilities sector when project agreements were signed late last year. Not only was the 900-MW, 194 million-gallon-a-day plant the first IWPP in Saudi Arabia, it also represented the world's largest greenfield power and desalination project in terms of debt financing.

  • Lesser joins regulator

    Michael Lesser has been appointed managing director for supervision at the Qatar Financial Centre Regulatory Authority (QFCRA). Lesser was previously head of bank supervision at the New York State Banking Department and has 35 years of regulatory experience. He will be in charge of day-to-day interaction with financial institutions licensed to operate from the Qatar Financial Centre, which include AXA Investment Managers , Barclays Bank , Credit Suisse First Boston and Morgan Stanley .

  • Levant targeted for new funds

    Plans are taking shape for two private equity funds to finance investment opportunities in the Levant. An advisory board for the $500 million Constans Lebanon Recovery Fund will be finalised on 15 October. UK-based Argent Financial Group International, a subsidiary of US-based Argent Financial Group, launched the new fund in September (MEED 8:9:06).

  • Levant targeted for new funds

    Plans are taking shape for two private equity funds to finance investment opportunities in the Levant. An advisory board for the $500 million Constans Lebanon Recovery Fund will be finalised on 15 October. UK-based Argent Financial Group International, a subsidiary of US-based Argent Financial Group, launched the new fund in September (MEED 8:9:06).US-based Overseas Private Investment Corporation (OPIC) has called for proposals from private sector fund managers for the formation

  • Libya orders end to prison protests

    Protesters at Abu Salim prison in Tripoli were told on 9 October to return to their cells before the end of the day. A day earlier, Amnesty International said security forces had fired shots into the crowd, killing one person. According to Amnesty, the 190 prisoners launched a sit-in protest after they were brought back from a hearing at a Tripoli court. The court upheld a previous sentence by the now defunct People's Court. The defendants are charged with belonging to an unaut

  • Limitless plans scheme

    Limitless, part of Dubai World, is considering plans for a major mixed-use development in Jordan. Limitless plans to develop the project in Amman and will sell plots to third party investors. In June, the company launched projects worth $30,000 million in Pakistan (MEED 9:6:06).

  • Local contractor picked for scaled down tower job

    The local Dubai Contracting Company (DCC) has been awarded the estimated AED 575 million ($157 million) main construction package on the Al-Durrah tower project on Sheikh Zayed road.

  • Local contractor picked for scaled down tower job

    The local Dubai Contracting Company (DCC) has been awarded the estimated AED 575 million ($157 million) main construction package on the Al-Durrah tower project on Shaikh Zayed road.

  • Local investors in towers scheme

    The Developers, a newly formed venture of local private investors, is planning a BD 45 million ($118.4 million) residential project in Juffair. A tender for the main construction package is due to be issued during the first half of November.

  • Local team takes Kharg natural gas liquids plant

    A local consortium has won the $1,200 million contract to carry out the Kharg natural gas liquids (NGL) project, bringing to an end a five-year bidding saga. Iritec, in partnership with its Italian subsidiary Irasco, was awarded the 44-month contract in early October and started work immediately. However, questions have been raised about how a relatively small company will deal with one of the largest projects planned in Iran (MEED 30:6:06).The contract includes engineering, procurement,

  • Locals take mud logging

    Kuwait Drilling Fluids & Oil Services Company (KDFOS) has been awarded a five-year contract, worth KD 46 million ($159 million), to carry out mud logging services for Kuwait Oil Company (KOC). The contract is similar to contracts awarded in August to US oil field services companies Halliburton and Baker Hughes (MEED 25:8:06).

  • Locals take mud logging

    Kuwait Drilling Fluids & Oil Services Company (KDFOS) has been awarded a five-year contract, worth KD 46 million ($159 million), to carry out mud logging services for Kuwait Oil Company (KOC). The contract is similar to contracts awarded in August to US oil field services companies Halliburton and Baker Hughes (MEED 25:8:06).

  • Logica in bank ops deal

    The UK's LogicaCMG has won a $27 million contract to modernise the core banking operations of National Bank of Kuwait (NBK) . Under the terms of the two-year contract, Logica will manage the replacement of NBK's current bank branch teller and core banking systems. The new system will improve efficiency and enable more streamlined processes.

  • Logica in bank ops deal

    The UK's LogicaCMG has won a $27 million contract to modernise the core banking operations of National Bank of Kuwait (NBK) . Under the terms of the two-year contract, Logica will manage the replacement of NBK's current bank branch teller and core banking systems. The new system will improve efficiency and enable more streamlined processes.

  • Low interest in new plants

    State-owned electricity company Sonelgaz has received only one bid for each of four contracts to build new power generation plants.The US' General Electric (GE) was the only company to submit technical bids for the four open-cycle, gas-driven plants with total capacity of 400 MW by the early-September deadline. Technical negotiations are under way with the client, but a date for the company's submission of commercial bids has not been set.The four engineering, procurement and

  • Low interest in new plants

    State-owned electricity company Sonelgaz has received only one bid for each of four contracts to build new power generation plants.

  • Maaden seeks Ras al-Zour port bids

    Saudi Arabian Mining Company (Maaden) has invited about 12 contractors to submit bids by mid-December to design and build a multi-million dollar port to serve Ras al-Zour industrial zone in the Eastern Province.

  • Maaden seeks Ras al-Zour port bids

    Saudi Arabian Mining Company (Maaden) has invited about 12 contractors to submit bids by mid-December to design and build a multi-million dollar port to serve Ras al-Zour industrial zone in the Eastern Province.

  • Manama plans licensing round

    The Natural Oil & Gas Authority (NOGA) is considering opening six blocks to international oil companies by early 2007. Bahrain Petroleum Company (Bapco) is carrying out technical studies on the concessions.

  • Manama plans licensing round

    The Natural Oil & Gas Authority (NOGA) is considering opening six blocks to international oil companies by early 2007. Bahrain Petroleum Company (Bapco) is carrying out technical studies on the concessions.

  • Manama tenders wireless licences

    The Telecommunications Regulatory Authority (TRA) has invited bids by 28 November for two national fixed wireless services (NFWS) licences. Awards are due to be announced on 13 December.

  • Maridive wins offshore contract

    Egypt's Maridive Offshore Projects has won a contract worth KD 5.1 million ($17.6 million) to provide offshore support services to Kuwait Oil Company (KOC) . The scope of works on the five-year contract covers the supply and operation of a fully-equipped support vessel to carry out diving and maintenance work on buoys, offshore facilities and offshore terminals as well as salvage operations.

  • MARKET IN FOCUS: MOROCCO: Casablanca cashes in

    At least five companies are expected to go public and list on the Casablanca Stock Exchange in 2007, promising an injection of liquidity to the already buoyant bourse. Likely candidates include telecoms companyMeditel,Royal Air Maroc, the kingdom's only tobacco companyRegie des Tabacs and chemical companySociete Nationale d'Electrolyse et de Petrochimie (SNEP), the sale of an estimated $20 million-25 million stake in which is likely to be pushed back from this year.The imminent sale of a

  • MARKET IN FOCUS: MOROCCO: Casablanca cashes in

    At least five companies are expected to go public and list on the Casablanca Stock Exchange in 2007, promising an injection of liquidity to the already buoyant bourse. Likely candidates include telecoms companyMeditel,Royal Air Maroc, the kingdom's only tobacco companyRegie des Tabacs and chemical companySociete Nationale d'Electrolyse et de Petrochimie (SNEP), the sale of an estimated $20 million-25 million stake in which is likely to be pushed back from this year.

  • MARKET IN FOCUS: SAUDI ARABIA: Emaar listing disappoints

    Small investors have become wary of the secondary market since the first-quarter crash but their expectations of initial public offering (IPO) windfalls remain as exaggerated as ever. Shares in Emaar The Economic City (EEC), offered in the primary market in the summer, were listed on 7 October and tripled in value on the first day of trading. However, many prospective sellers were disappointed, having hoped for an appreciation nearer ten-fold.

  • MARKET IN FOCUS: UAE: Exchanges feel the pain

    Solid third-quarter results have failed to stir the UAE markets, which have been quiet since the start of Ramadan and the introduction of a shortened working week. 'The timing of results was probably the worst it could be,' says Mohammed Ali Yasin, managing director of Abu Dhabi-based Emirates Securities. 'People's priority is not investment.' Low volumes and speculative activity have hampered the performance of the Dubai Financial Market (DFM) and the Abu Dhabi Securities Market (ADSM). Com

  • Marubeni signs up for Mesaieed power

    Japan's Marubeni Corporation has been appointed foreign developer on the Mesaieed independent power project (IPP), after receiving on 15 October a letter of commitment to participate in the state's largest power scheme to date. The letter paves the way for the key project agreements to be signed within two months and for financial close to be achieved on the $2,000 million scheme next March/April (MEED 4:8:06).

  • Marubeni signs up for Mesaieed power

    Japan's Marubeni Corporation has been appointed foreign developer on the Mesaieed independent power project (IPP), after receiving on 15 October a letter of commitment to participate in the state's largest power scheme to date. The letter paves the way for the key project agreements to be signed within two months and for financial close to be achieved on the $2,000 million scheme next March/April (MEED 4:8:06).

  • Materials world: Shortages driving up cost of projects

    After a feverish few months, construction materials prices began to level off slightly in the third quarter of the year. The usual summer slowdown in activity is partly responsible, but perhaps the most significant factor is the lowest quarterly rise in project activity since the start of 2005.

  • Mecca-Medina rail prequals out

    The Saudi Railways Organisation (SRO) has invited applications for prequalification on its multi-billion-dollar Makkah-Medina passenger rail link (MMRL). The project primarily aims to ease the inflow of pilgrims arriving in Jeddah and travelling on to the holy cities.

  • Mecca-Medina rail prequals out

    The Saudi Railways Organisation (SRO) has invited applications for prequalification on its multi-billion-dollar Mecca-Medina passenger rail link (MMRL). The project primarily aims to ease the inflow of pilgrims arriving in Jeddah and travelling on to the holy cities.

  • Middle East Airlines postpones flotation

    Flag carrier Middle East Airlines (MEA) has been forced to delay the flotation of up to 25 per cent of its shares on the Beirut Stock Exchange (BSE) because of the disruption caused by the recent attacks and blockade by Israel (MEED 15:9:06). 'It's better to wait and see what's happening in the market,' says MEA chairman and director-general Mohammed el-Hout. 'I don't expect a listing in the first quarter of 2007.'

  • Monty wins Riffa course

    The UK's Colin Montgomerie Design has been appointed to design an 18-hole championship course and a nine-hole short course at the $300 million Riffa Views golf-themed development. The client is Riffa Golf & Residential Development Company, a joint venture of Arcapita and Bahrain International Golf Course Company. Montgomerie is the second high-profile sports personality signed up to promote the resort during a European tour by chief executive officer Richard Browning in early October. German ten

  • Moody's upgrades GCC sovereigns

    The sovereign ratings of all six GCC states have been upgraded a notch byMoody's Investors Serviceon the back of high oil prices and more prudent use of their revenues by the region's governments. The main constraint on even higher ratings remains the unstable political climate, the agency says, not only regionally but internally.

  • Moody's upgrades GCC sovereigns

    The sovereign ratings of all six GCC states have been upgraded a notch byMoody's Investors Serviceon the back of high oil prices and more prudent use of their revenues by the region's governments. The main constraint on even higher ratings remains the unstable political climate, the agency says, not only regionally but internally.'A higher proportion of [oil revenues] has been saved than previously, while extra government expenditure has been focused more on capital than on current spend

  • More delays to Al-Zour

    Kuwait National Petroleum Company (KNPC) has extended by three weeks the bid deadline for the four main process packages on its $6,300 million new refinery project at Al-Zour.

  • More northern flowlines work goes for bid

    State upstream operator Kuwait Oil Company (KOC) has invited six local contractors to bid by 28 November for an estimated $100 million-200 million contract to install and upgrade flowlines for injector wells in the north. Evaluation is expected to take up to three months, with an award due by the end of the first quarter of 2007.

  • More northern flowlines work goes for bid

    State upstream operator Kuwait Oil Company (KOC) has invited six local contractors to bid by 28 November for an estimated $100 million-200 million contract to install and upgrade flowlines for injector wells in the north. Evaluation is expected to take up to three months, with an award due by the end of the first quarter of 2007.The project is part of a KOC programme to modernise the country's upstream facilities and involves the modernisation of hundreds of kilometres of oil and gas flo

  • More than 200,000 Darfuris without food, says WFP

    About 224,000 people living in the war-torn region of Darfur remain cut off from UN food rations, the World Food Programme (WFP) said on 10 October. In September, the WFP delivered food aid to 2.8 million of the 3 million people it aims to reach in Darfur every month. 'For the fourth straight month, thousands of people could not receive WFP food aid due to insecurity,' WFP spokesperson Christiane Berthiaume said. 'Nearly a quarter of a million are cut off. It is an improve

  • More than 200,000 Darfuris without food, says WFP

    About 224,000 people living in the war-torn region of Darfur remain cut off from UN food rations, the World Food Programme (WFP) said on 10 October. In September, the WFP delivered food aid to 2.8 million of the 3 million people it aims to reach in Darfur every month. 'For the fourth straight month, thousands of people could not receive WFP food aid due to insecurity,' WFP spokesperson Christiane Berthiaume said. 'Nearly a quarter of a million ar

  • MOROCCO

    Tender no 31/DAM/ET/06. Supply of drinking water to the Oued Rme port complex as part of the eighth water supply and treatment project. Financed by the African Development Bank. Bid bond is MD 60,000. A pre-bid meeting will take place on 17 November.

  • Morocco demobilises riot police unit

    Rabat has demobilised a 5,000-strong riot police unit, the security service announced on 16 October. The contingent was disbanded after it was accused of involvement in acts of brutality and murder. A government statement said the unit was taken out of service in order to allow police forces to do their job better. The unit in question was established in 2004 and is thought to have been implicated in the death of several people during demonstrations in the town of Ayoun in

  • Morocco demobilises riot police unit

    Rabat has demobilised a 5,000-strong riot police unit, the security service announced on 16 October. The contingent was disbanded after it was accused of involvement in acts of brutality and murder. A government statement said the unit was taken out of service in order to allow police forces to do their job better. The unit in question was established in 2004 and is thought to have been implicated in the death of several people during demonstrati

  • Morocco: Rabat removes the slums

    For the past year, real estate headlines in the kingdom have been dominated by eye-catching multi-billion-dollar luxury housing projects, undertaken increasingly by major developers from the Gulf.

  • Morocco: Sustainable approach to construction

    Construction demand is rising rapidly, but good management has averted the supply squeezes seen in the Gulf.

  • Muscat retenders Qarn Alam project

    Bidding is under way on the retendered Qarn Alam enhanced oil recovery (EOR) project, after Petroleum Development Oman (PDO) issued the invitation to bid package to prequalifiers. Companies have been given until late November to submit proposals for the main packages on the project, which is being retendered after original bids for the single engineering, procurement and construction (EPC) contract came in at almost double the $800 million-900 million budget (MEED 15:9:06).

  • Nakilat awards tanker bond

    Qatar Gas Transportation Company (Nakilat) has awarded Credit Suisse First Boston and Lehman Brothers the arranging mandate on its planned $1,000 million-2,000 million 144a bond issue. The bond is part of the $4,300 million first tranche of a planned $7,300 million financing programme. The process of selecting co-lead managers is under way (MEED 15:9:06).

  • NBK increases capital

    National Bank of Kuwait (NBK) has announced plans to raise its capital by 10 per cent through a rights issue due to open on 29 October for two weeks. The bank has a paid-up capital of KD 178 million ($615 million) and reported net profit of KD 190 million ($657 million) for the first nine months of 2006, an increase of 28 per cent on the corresponding period in the previous year.

  • New Batelco chairman

    Sheikh Hamad bin Abdulla bin Mohammed al-Khalifa was elected in late September as the new chairman of ~Bahrain Telecommunications Company (Batelco)~, replacing the outgoing Hassan Juma. Sheikh Hamad is a former commander of the Bahraini airforce and member of the Telecommunications Regulatory Authority (TRA).

  • New chief at Gulf Air

    Ahmed al-Hammadi has taken over from outgoing president and chief executive officer James Hogan at Gulf Air. Al-Hammadi, who was previously vice-president of finance, will hold the position until a permanent replacement is found.

  • New chief at Gulf Air

    Ahmed al-Hammadi has taken over from outgoing president and chief executive officer James Hogan at Gulf Air. Al-Hammadi, who was previously vice-president of finance, will hold the position until a permanent replacement is found.

  • New cracker options under examination

    Kuwait Finance House (KFH) - Bahrain has invited ABB Lummus Global and Kellogg Brown & Root,both US-based, Germany's Linde and Paris-based Technip to prepare preliminary price estimates for the construction of an ethane cracker planned as part of its integrated petrochemicals, power and water complex at Sitra. The decision toinvite bids from thefour companies follows the recent withdrawal from the project of Stone & Webster, part of the US' Shaw Inter

  • New desal techniques

    The Saline Water Conversion Corporation (SWCC) and Japan's Water Reuse Promotion Centre (WRPC) signed in mid-September a research agreement to develop new desalination techniques. Under the terms of the agreement, SWCC and WRPC will develop tri-hybrid nano-filtration/reverse osmosis/multi-stage flash (NF/RO/MSF) technology systems. The aim is to commercialise the technology for future desalination projects.

  • New economic thinking for a region in transition

    IMF director Mohsin Khan said earlier in October that the Middle East and North Africa (MENA) region will record growth of more than 12 per cent in 2007. Aggregate gross domestic product (GDP) next year will be more than double the figure recorded in 2002. MENA governments will have a total fiscal surplus of almost 10 per cent of aggregate 2007 GDP. Government debts will fall. The forecast MENA current account surplus of more than $331,000 million will be a new record.

  • New economic thinking for a region in transition

    IMF director Mohsin Khan said earlier in October that the Middle East and North Africa (MENA) region will record growth of more than 12 per cent in 2007. Aggregate gross domestic product (GDP) next year will be more than double the figure recorded in 2002.

  • New line for Dubai metro

    Dubai's Roads & Transport Authority (RTA) has invited consultants to bid by 27 November for work on the proposed 49-kilometre purple line of the Dubai metro, between Dubai World Central (Jebel Ali airport) and Dubai International airport.

  • New mobile sale planned

    The Higher Council for Privatisation (HCP) is preparing plans to restart in early 2007 the long-stalled sale of licences to operate the country's two existing mobile phone networks.

  • New mobile sale planned

    The Higher Council for Privatisation (HCP) is preparing plans to restart in early 2007 the long-stalled sale of licences to operate the country's two existing mobile phone networks.'What we're looking at doing now has been on the drawing board for some time but has faced political opposition,' says HCP general secretary Ziad Hayek. 'However, there is a growing consensus that privatisation is imperative now to enhance the provision of services to the Lebanese public.'A new law for

  • New Skhira chemicals plant on the cards

    A joint venture (JV) of state chemicals company Groupement Chimique Tunisienne (GCT) and two Indian companies is set to announce by year-end plans for the development of a new sulphuric acid and phosphoric acid plant at La Skhira on the coast.La Skhira 2 will produce 3,600 tonnes a day (t/d) of sulphuric acid and 1,100 t/d of phosphoric acid. The development, which is expected to cost at least $250 million, is expected to require an engineering phase of about six months and a 30-month co

  • New trade city planned

    Kuwait International Fair Company is planning to develop a new exhibition centre in Mishref, close to the sixth ring-road. Germany's Architekten von Gerkan, Marg & Partners (GMP) is the masterplanner. The local Projacs is the project manager.

  • New Wave managers

    Nick Smith and Abdullah Khamis al-Shidi have been appointed chief executive officer and chief financial officer respectively of Oman's multi-billion-dollar The Wave resort. Smith has more than 25 years of experience in the UK real estate industry, while Al-Shidi has nearly 20 years of experience, at the Central Bank of Oman and Petroleum Development Oman.

  • Nexans wins cable deal

    France's Nexans has announced the award of a contract, worth Eur 100 million ($128 million), to supply and install land and subsea cables linking Delma island with the national grid. The scope of works on the project involves the laying of a single core crosslinked polyethylene (XLPE) underground cable and two three-core XLPE submarine cables between the island, in the far west of Abu Dhabi emirate, and Shuweihat power station. The connection will provide an additional 100 MW of power to the

  • Next phase for Al-Qasr

    Local property developer Dar al-Arkan Real Estate Development Company has prequalified local contractors for the next phase of its Al-Qasr mixed-use development at Suwaidi, south of Riyadh. Worth SR 500 million ($133 million), the contract involves the construction of 95 five-story apartment buildings. A tender is due to be issued by early November. The US' Turner Arabia is the project manager (MEED 6:1:05).

  • Nico takes over at Azadegan

    The Oil Ministry's Jersey-based subsidiary Naftiran Intertrade Company (Nico) will become the majority shareholder on the Azadegan field development after Japan's Inpex saw its stake in the project reduced to 10 per cent from 75 per cent. Nico, which will finance the project, is now expected to seek engineering, procurement and construction (EPC) contractors for the work (MEED 6:10:06).

  • Nico takes over at Azadegan

    The Oil Ministry's Jersey-based subsidiary Naftiran Intertrade Company (Nico) will become the majority shareholder on the Azadegan field development after Japan's Inpex saw its stake in the project reduced to 10 per cent from 75 per cent. Nico, which will finance the project, is now expected to seek engineering, procurement and construction (EPC) contractors for the work (MEED 6:10:06).

  • No talks with Syria, says Israel

    Tel Aviv has said it will not enter into negotiations with Syria until it stops backing militants groups. The statement came a day after Syrian President Assad told the BBC he was ready for peace talks with Israel. 'Israel has always been heavily interested in achieving peace with its neighbours,' said Miri Eisin, spokesperson for Israeli Prime Minister Ehud Olmert. 'Bashar al-Assad has no interest in peace.'Peace talks between Syria and Israel derailed in 2000 and have no

  • Nokia wins Wataniya deal

    Finland's Nokia has won a contract to expand the high-speed downlink packet access (HSDPA) radio and core network operated by mobile operator Wataniya Telecom . Under the terms of the contract, Nokia will provide Wataniya with a core network upgrade, including packet core equipment and the Nokia MSC server mobile softswitch as well as network planning, consulting, systems integration, implementation, pre-launch optimisation, maintenance and care services.

  • North Shouneh bids due

    Ten prequalified companies have until 15 October to submit bids for the $5 million contract to build a wastewater treatment plant in North Shouneh, in the north. The scope of works includes the construction of a wastewater plant with capacity of 1,200 cubic metres a day. The client is the Water & Irrigation Ministry. The project is being funded by the US Agency for International Development (USAID MEED 5:5:06).

  • Nouakchott addresses water shortages

    State water company Societe Nationale de l'Eau (SNDE) has awarded a consortium of Moroccan state water company Office National de l'Eau Potable (ONEP) and France's Societe Canal de Provence (SCP) the contract to provide technical assistance on a $220 million project to supply drinking water to Nouakchott for the next 30 years.

  • Nouakchott addresses water shortages

    State water company Societe Nationale de l'Eau (SNDE) has awarded a consortium of Moroccan state water company Office National de l'Eau Potable (ONEP) and France's Societe Canal de Provence (SCP) the contract to provide technical assistance on a $220 million project to supply drinking water to Nouakchott for the next 30 years.

  • OCI buys in Spain

    The local Orascom Construction Industries (OCI) has acquired a 50 per cent stake in Grupo GLA , Spain's largest independent producer of aggregates and ready-mix concrete. OCI is paying Eur 51.3 million ($64.2 million) in cash in addition to contributing its 59 per cent stake, acquired in late 2005, in Cimentos La Parilla , which owns a clinker grinding plant north of Madrid.

  • Official denies US 'arrogance and stupidity' in Iraq

    A US State Department official retracted on 23 October a statement made to Al-Jazeera television in which he was reported to have said that Washington had shown 'arrogance and stupidity' in Iraq.Alberto Fernandez, an Arabic speaker in the Bureau of Near Eastern Affairs, said he had 'seriously misspoken' and that his comments did not represent Washington's views.'I think there is great room for strong criticism, bec

  • Officials disclose lost Iraqi millions

    About $800 million of US funds allocated for Iraqi military equipment purchases has been stolen, according to former Iraqi finance minister Ali Allawi on 24 October. Out of a total allocation of $1,200 million, only $400 million was spent, apparently on outdated equipment. 'We have not been given any serious official support from the US, the UK or any of our surrounding Arab countries,' Allawi said. 'The only explanation I can come up with is that too many people in positions of power an

  • Oger signs for Hail work

    The local Saudi Oger has signed an estimated SR 500 million ($133 million) contract to carry out the first-phase infrastructure works at the proposed Prince Abdulaziz bin Mosaed Economic City (PABMEC) in Hail. Valued at an estimated $8,000 million, the new city will target investment in the transport and logistics sector. Rakisa Holding Company, which is developing the city, is waiting approval from the Capital Market Authority to launch an initial public offering (IPO). It plans to offer 30 per

  • OIL ROUND-UP: Bearish market awaits a production signal from Riyadh

    Oil prices rose slightly in the second week of October, as the market waited for clarity on OPEC's intentions and North Korea's nuclear test ratcheted up global political tension. However, the underlying conditions remain bearish, with inventories above the seasonal average. Spot Brent was trading at $57.11 a barrel on 11 October, compared with $56.06 a barrel a week earlier.

  • OIL ROUND-UP: Bearish market awaits a production signal from Riyadh

    Oil prices rose slightly in the second week of October, as the market waited for clarity on OPEC's intentions and North Korea's nuclear test ratcheted up global political tension. However, the underlying conditions remain bearish, with inventories above the seasonal average. Spot Brent was trading at $57.11 a barrel on 11 October, compared with $56.06 a barrel a week earlier.

  • OIL ROUND-up: OPEC cut meets with scepticism among traders

    Traders reacted with scepticism to the announcement by OPEC of plans to cut 1.2 million barrels a day (b/d) of crude output, following an emergency meeting in Qatar on 19 October. Doubts abound about the willingness of some members to implement the change. Spot Brent was trading at $57.75 a barrel on 25 October, compared with $58.99 a barrel a week earlier.Delegates in Doha made great efforts to send out a strong signal to the markets. The planned reduction was higher than the 1 million

  • OIL ROUND-up: OPEC cut meets with scepticism among traders

    Traders reacted with scepticism to the announcement by OPEC of plans to cut 1.2 million barrels a day (b/d) of crude output, following an emergency meeting in Qatar on 19 October. Doubts abound about the willingness of some members to implement the change. Spot Brent was trading at $57.75 a barrel on 25 October, compared with $58.99 a barrel a week earlier.

  • Olmert close to coalition deal

    Israel's under fire Prime Minister Ehud Olmert on 23 October announced that he was set to begin talks to allow the right-wing Yisrael Beitenu party to join an enlarged coalition. 'The prime minister is happy to have Yisrael Beitenu join,' said a spokeswoman for the ruling Kadima party, after Olmert agreed to begin the talks that could yield a final decision within days. Yisrael Beitenu, led by Soviet émigré Avigdor Lieberman, supports the annexation of parts of t

  • Olmert confirms new cabinet appointment

    Israeli Prime Minister Ehud Olmert confirmed on 23 October that Avigdor Lieberman, head of the right-wing Yisrael Beitenu party, would serve as a deputy prime minister in a move designed to shore-up Knesset support for the government. The addition of Yisrael Beitenu's 11 Knesset members will take the coalition's representation in the 120-member parliament to 78. Lieberman, who has previously called for the reinvasion of Palestinian cities and has suggested that Israel should bo

  • OMAN

    Tender no 159/2006. Provision of emergency, survey and maintenance services for the 11-kV and 415-V electrical network in the Al-Sharqiya region for the Mazoon Electricity Company.Details, available until 15 November, on payment of RO 150 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • OMAN

    Tender no 164/2006. Supply of residual fluidised catalytic cracker (RFCC) catalysts for the Sohar refinery project.

  • OMAN

    Prequalification. Tender no 160/2006. Redevelopment of the Al-Bustan Palace hotel for the Tourism Ministry.

  • OMAN

    Tender no 153/2006. Extension of a health centre at Sur for the Health Ministry.

  • OMAN

    Tender no 157/2006. Provision of emergency, survey and maintenance services for the 11-kV and 415-V electrical network in the south Al-Batinah region for the Mazoon Electricity Company.

  • OMAN

    Tender no 151/2006. Provision of engineering, procurement and construction (EPC) of a seawater pumping system of a common cooling water system for small industry users in the SIPC area for the National Economy Ministry.

  • OMAN

    Tender no 154/2006. Construction of a new psychiatric hospital in Al-Khodh for the Health Ministry.Details, available until 8 November, on payment of RO 1,500 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • OMAN

    Tender no 155/2006. Extension of a sports stadium at Seeb, Al-Hail, for the Sports Affairs Ministry.Details, available until 8 November, on payment of RO 950 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • OMAN

    Tender no 150/2006. Provision of engineering, procurement and construction (EPC) services for the Fahud and Buraimi compressor stations for Oman Gas Company.

  • OMAN

    Tender no 149/2006. Construction, completion and maintenance of a health centre at Sur for the Health Ministry.Details, available until 1 November, on payment of RO 250 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • Omar Effendi sale saga to end

    The sale of local retail chainOmar Effendiappeared to have been finally resolved in late September, after the owners,Trade Holding Company (THC), agreed to the sale of 90 per cent of the state-owned company's shares to Saudi Arabia'sAnwal United, in a deal worth£E 589.5 million ($102 million). THC will retain 10 per cent.

  • Omar Effendi sale saga to end

    The sale of local retail chainOmar Effendiappeared to have been finally resolved in late September, after the owners,Trade Holding Company (THC), agreed to the sale of 90 per cent of the state-owned company's shares to Saudi Arabia'sAnwal United, in a deal worth£E 589.5 million ($102 million). THC will retain 10 per cent.

  • One bidder for wind farm

    Spain's Gamesa Energia is the sole bidder for the New & Renewable Energy Authority (NREA) contract to design and build a 120-MW wind farm located at Zafarana. The scope of works includes the design of the farm and the supply and installation of the wind turbines. Financing is coming from the Danish International Development Agency (Danida). The consultant for the project is Germany's Decon (MEED 25:8:06).

  • Onshore seismic work let

    WesternGeco , part of the US' Schlumberger , has won a contract worth KD 5.3 million ($18.3 million) to carry out seismic work in onshore Kuwait. The scope of works covers the acquisition of 2D and 3D seismic using WesternGeco's proprietary Q-Reservoir technology.

  • Onshore seismic work let

    WesternGeco , part of the US' Schlumberger , has won a contract worth KD 5.3 million ($18.3 million) to carry out seismic work in onshore Kuwait. The scope of works covers the acquisition of 2D and 3D seismic using WesternGeco's proprietary Q-Reservoir technology.

  • OPEC agrees to cut production

    OPEC on 19 October agreed to cut crude oil production by 1.2 million barrels a day (b/d). The decision, which was taken at a meeting in Qatar, sets production at 26.3 million b/d as of 1 November. The move is designed to increase oil prices after they fell by 20 per cent from a high of $78 a barrel during the war in Lebanon. This is the first time the group has agreed to lower output in two years. It is due to meet again in December in Nigeria. According to Reuters, Venezu

  • OPEC agrees to cut production

    OPEC on 19 October agreed to cut crude oil production by 1.2 million barrels a day (b/d). The decision, which was taken at a meeting in Qatar, sets production at 26.3 million b/d as of 1 November. The move is designed to increase oil prices after they fell by 20 per cent from a high of $78 a barrel during the war in Lebanon. This is the first time the group has agreed to lower output in two years. It is due to meet again in December in Nigeria. A

  • OPEC mulls production cuts

    OPEC may hold an emergency meeting to discuss cutting oil production, according to Nigerian Oil Minister and current OPEC president Edmund Daukoru. 'We are toying with the idea of an emergency meeting,' Daukoru said on 5 October. A reduction would aim to boost prices, which have fallen below $60 a barrel, 25 per cent lower than they were in mid-July.According to the Financial Times, OPEC has agreed to cut production by at least 1 million barrels a day or 4 per cent. OPEC's

  • OPP kicks off

    Oman Polypropylene (OPP) will begin commercial production at its new 340,000-tonne-a-year plant at Sohar industrial port at the end of October. The plant will produce 10 grades of homopolymer with random polymers introduced in 2008. OPP will market 140,000 tonnes of the polypropylene produced and project shareholder South Korea's LG International will market the rest. More than 60 per cent of production will be exported to China and Europe (MEED 5:5:06).

  • Palestinian government offices closed

    All Palestinian government offices have ceased work following the ransacking on 2 October of its headquarters in Ramallah by protestors. A spokesman for the Hamas-led administration said the suspension followed 'attempts to kidnap officials'. The move comes amid the most serious round of internecine fighting between pro-Hamas militias and Fatah supporters loyal to President Mahmoud Abbas since Hamas took power in March.Fighting between rival factions broke out in the West

  • Palestinians sign Paz supply deal

    The Palestinian Finance Ministry in early October signed a two-year contract with Israel's Paz Oil for the supply of fuel to the Palestinian Territories. The rolling agreement, which comes into effect on 1 January 2007, replaces a contract with Israel's Dor Alon, which has supplied the Palestinian Territories since 1994. The new deal saves the Palestinian Authority (PA) about $17 million a year. The fuel will be supplied at international market prices. Paz will assume responsibility for i

  • Palestinians sign Paz supply deal

    The Palestinian Finance Ministry in early October signed a two-year contract with Israel's Paz Oil for the supply of fuel to the Palestinian Territories. The rolling agreement, which comes into effect on 1 January 2007, replaces a contract with Israel's Dor Alon, which has supplied the Palestinian Territories since 1994. The new deal saves the Palestinian Authority (PA) about $17 million a year. The fuel will be supplied at international market prices. Paz will assume responsibility for in

  • Palm, Marina awards

    Al-Fattan MRCB Construction Company, a joint venture of local real estate developer Al-Fattan Properties and Malaysia's Malaysian Resources Corporation (MRCB), has won two contracts totalling AED 390 million ($106 million). The contracts for Al-Fattan Properties involve the construction of a hotel on Palm Jumeirah and a tower block in Dubai Marina.

  • Pars tenders new tank farm

    Pars Oil & Gas Company (POGC) has launched prequalification for an engineering, procurement and construction (EPC) contract to build a grassroots condensate storage facility at Assaluyeh (see Tenders).Prequalification documents will be available until 8 November. The tank farm will have a total storage capacity of 600,000 cubic metres in three double-deck tanks with filling and draw-off rates of 4,000 cubic metres an hour.A fire-water tank and fire-water pumps will also be instal

  • Pearl tank award nears

    US-based Chicago Bridge & Iron (CB&I) is in line for the engineering, procurement and construction contract covering the tank package on the integrated Pearl gas-to-liquids (GTL) project. Estimated to be worth $400 million, the scope of works involves the construction of 38 storage tanks with total capacity of 900,000 cubic metres at the plant site and Ras Laffan port. A formal award is due by mid-October (MEED 1:9:06).

  • Petrofac in line for Hasdrubal gas project

    UAE-based Petrofac International is in line to take the onshore package on the estimated $700 million scheme to develop the Hasdrubal gas and condensates field on the Amilkar permit in the Gulf of Gabes, sources close to the project say.

  • Plant award approaches

    France's Veolia Environnement is understood to have been recommended for the independent water project (IWP) at Sur. Veolia's engineering, procurement and construction (EPC) team consists of the local Bahwan Engineering Company and the French firm's in-house team; Societe Generale is the financial adviser (MEED 28:7:06).

  • Plant syndication planned

    The debt package on the Fujairah independent water and power project (IWPP) is now expected to be launched to a general syndication after a disappointing amount was raised at the senior level. The mandated lead arrangers, Barclays Capital and Societe Generale , were forced to raise the fees to 80 basis points (bp) from 60 bp in early October but still struggled to sell down the $1,275 million, 22-year term loan, which carries a margin of 65-120 bp. Singapore's SembCorp is the foreign partner

  • Plant syndication planned

    The debt package on the Fujairah independent water and power project (IWPP) is now expected to be launched to a general syndication after a disappointing amount was raised at the senior level. The mandated lead arrangers, Barclays Capital and Societe Generale , were forced to raise the fees to 80 basis points (bp) from 60 bp in early October but still struggled to sell down the $1,275 million, 22-year term loan, which carries a margin of 65-120 bp. Singapore's SembCorp is the foreign partner

  • Prequals in for hybrid power

    The New & Renewable Energy Authority (NREA) prequalified three contractors in late September for the engineering, procurement and construction (EPC) contract for the solar phase of the 150-MW Kureimat combined-cycle/solar plant. They are Iberdrola and Abener Energia, both of Spain, and the local Orascom Construction Industries.

  • Prices rise on OPEC silence and falling distillate stocks

    Oil prices rose by almost $2 a barrel in the third week of October, as OPEC kept traders in suspense as to its output reduction plans and US distillate stocks fell sharply. Spot Brent was trading at $58.99 a barrel on 18 October, compared with $56.06 a barrel a week earlier.

  • Pricing sought for dam

    The Regional Municipalities, Environment & Water Resources Ministry has invited companies to bid by 6 November for the contract to build an interceptor guard dam at Salalah. Prospective bidders include Athens-based Consolidated Contractors International (CCC), Iran's General Mechanic Company, Turkey's Ozaltin Construction, the local/Austrian Strabag Oman, South Korea's Sambu Construction and a consortium of China Gezhouba Corporation, India's Patel Engineering and the local Galfar Engineering &

  • Private equity: Taking a private interest

    The Carlyle Group is coming. With more than $44,300 million of private equity under management, the vast Washington-based firm has drawn its fair share of investment from the Middle East over the years. For the first time, however, the group is planning to inject money back into the region, as it prepares to raise capital for a $1,800 million regional fund.

  • Private equity: Taking a private interest

    The Carlyle Group is coming. With more than $44,300 million of private equity under management, the vast Washington-based firm has drawn its fair share of investment from the Middle East over the years. For the first time, however, the group is planning to inject money back into the region, as it prepares to raise capital for a $1,800 million regional fund.

  • Privatisations edge forward

    Amman will make key awards on its two flagship privatisations by the end of the year, according to senior sources at the government body responsible for implementing the sell-offs.

  • PROCUREMENT: Take your partner

    A shift is taking place in the regional construction market. Traditional methods of procurement are on the retreat as clients, desperate to secure contractors, turn to direct negotiations with potential partners.

  • Project Update - Burj Dubai: Reach for the skies

    Already taller than many high rises in Dubai, Burj Dubai is changing by the week.

  • Qafac expansion approved

    Shareholders in Qatar Fuel Additives Company (Qafac) have approved a major expansion in methanol capacity at the Mesaieed-based producer. The expansion calls for the addition of a 6,750-tonne-a-day methanol train at an estimated cost of $600 million. Project completion is set for late 2007/early 2008 (MEED 13:2:04).

  • Qafco hunts for financial advice

    Selected banks have been approached to provide informal financial advice on the $650 million Qatar Fertiliser Company (Qafco) 5 project. The deal is due to come to market in early 2007.

  • Qafco signs ammonia deal

    Qatar Fertiliser Company (Qafco) has signed a feedstock agreement with Jordan Phosphates Mines Company (JPMC) for the supply of up to 130,000 tonnes of ammonia.'The agreement is an addendum to an existing contract with JPMC signed in 2004 to supply 80,000 tonnes of ammonia,' says a Qafco representative. 'Qafco will now supply 130,000 tonnes with an option to supply an additional 30,000.' JPMC will use the ammonia at its Aqaba fertiliser complex, 15 kilometres south of Aqaba.In ea

  • Qafco signs ammonia deal

    Qatar Fertiliser Company (Qafco) has signed a feedstock agreement with Jordan Phosphates Mines Company (JPMC) for the supply of up to 130,000 tonnes of ammonia.

  • QATAR

    Tender no GTC/06/145/FSM.

  • QATAR

    Tender no GTC/07/101/OED. Provision of the following painting, scaffolding and insulation services on a call-off basis in the Dukhan fields: 1) preparation and painting of areas of plant, piping, structures and associated supports and equipment; 2) removal and replacement of thermal insulation and cladding; and 3) provision of scaffolding services. Bid bond is QR 500,000.

  • QATAR

    Tender no GTC/06/246/OEO. Replacement of the internals of six seawater pumps installed at production station 2/3 without any modification on pump ratings, motors, etc. Bid bond is QR 100,000.

  • QATAR

    Tender no GTC/06/257/MR. Provision of diving services for subsea construction, inspection and maintenance work andemergency intervention for offshore platform/pipelines belonging to Qatar Petroleum and its joint venture partners and affiliates. Bid bond is QR 25 million.

  • QATAR

    Tender no GTC/06/247/FSG. Rehabilitation of liquefied petroleum gas (LPG) tanks T1 and T2 in the natural gas liquids (NGL) complex at Mesaieed. The project includes the supply of all labour, supervision, equipment, material, tools and all items required for miscellaneous civil works, tank commissioning/decommissioning, internal cleaning, inspection and rehabilitation of the tanks.

  • QATAR

    Tender no GTC/07/106/ED. Engineering, procurement, installation and construction (EPIC) of consolidated gas supply projects within the Mesaieed and Ras Laffan areas. The project comprises the EPIC, pre-commissioning, commissioning and testing of all necessary works for the installation of the following: 1) a back-up supply gas pipeline from Qatargas II, III and IV to station V; 2) station A 21 interconnecting piping; and 3) new consumers' gas supply at Mesaieed. Bid bond is QR 4 million.

  • Qatar develops ties with Tel Aviv

    Israeli Foreign Affairs Minister Tzipi Livni will attend the Sixth International Conference on New or Restored Democracies on 29 October in Doha, the visit will be the highest level visit to Qatar by Israeli officials in 10 years.The last visit to the Gulf state was by former prime minister Shimon Peres in 1996. Since then there have only been low-level diplomatic and commercial ties. In September, Qatari Foreign Minister Sheikh Hamad bin Jassem bin Jabr al-Thani met Livni at the UN Gene

  • Qatar mediation fails

    Qatari efforts to mediate between rival Hamas and Fatah factions have failed, a senior aide to Palestinian Authority (PA) President Mahmoud Abbas said on 10 October. 'The differences on the core issues have remained ... [and] in the light of tonight's talks it does not seem as if we are closer to an agreement,' Yasser Abd Rabbo said. Hamas has refused to recognise Israel and to renounce violence, key elements in negotiations over the formation of a unity government. Abbas

  • Qatar Real Estate to issue debut corporate sukuk

    Qatar Real Estate Investment Company (QREIC) staged roadshows in Manama, Dubai and Doha in early August for the first sukuk issued by a local corporate. The instrument is also being issued by the first special purpose vehicle (SPV) to be registered at the Qatar Financial Centre.

  • Qatar Real Estate to issue debut corporate sukuk

    Qatar Real Estate Investment Company (QREIC) staged roadshows in Manama, Dubai and Doha in early August for the first sukuk issued by a local corporate. The instrument is also being issued by the first special purpose vehicle (SPV) to be registered at the Qatar Financial Centre.Qatar National Bank is the lead manager on the $270 million issue through its Islamic subsidiary Qatar National Bank al-Islami. Dubai Islamic Bank, Gulf International Bank and Standard Chartered Bank are joint

  • Qatar to mediate between Palestinians

    Qatar's Foreign Affairs Minister is due in Gaza City on 9 October where he will meet Palestinian Authority President Abbas and Prime Minister Ismail Haniya separately. Sheikh Hamad bin Jassem bin Jabr al-Thani will mediate between the pair over the formation of a unity government. Abbas's spokesperson Nabil Abu Rudeina confirmed that the president would meet Sheikh Hamad 'to continue the serious and honest discussion', which was carried out during Abbas' trip to Doha on 27 September.

  • Qatari Diar cruises Nile

    Qatari Diar Real Estate Investment Company announced on 2 October the signing of a strategic investment with Khartoum to develop a major tourist and residential resort on the Blue Nile, close to the capital. Located on the banks of the river, opposite the presidential palace, the mixed-use development will comprise a five-star hotel, restaurants, chalets, entertainment, retail and commercial facilities and a sports club over an area of more than 100,000 square metres.

  • Qatari UN vote angers Amman

    Qatar's decision to vote for the South Korean foreign affairs minister Ban Ki-Moon rather than back the Jordanian candidate for the position of UN Secretary-General has enraged Amman. 'Qatar has refused to back a unanimous Arab decision and this shocks us, surprises its and we are displeased,' Jordanian government spokesperson Nasser Jawdeh said on 2 October. Qatar cast its vote for a successor to Kofi Annan's post in a straw poll on 28 September, declining to vote for Jor

  • QIA fails in Thames bid

    Qatar Investment Authority (QIA) lost out in its attempt to acquire UK utility Thames Water from Germany's RWE in an auction held on 16 October. The deal was won by Kemble Water, a consortium led by Australia's Macquarie Group, for£8,000 million ($14,940 million), including debt.

  • Ras Tanura upgrade gets under way

    Tendering has kicked off on the giant Ras Tanura refinery upgrade and integrated petrochemicals complex, with expressions of interest (EoIs) being submitted on 11 October for the joint front-end engineering and design (FEED), project management services (PMS) and construction management services (CMS) contract. Estimated to cost of $16,000 million, the scheme is expected to be the largest standalone industrial complex ever built in the region (MEED 26:5:06).

  • RasGas bond set, Nakilat next

    A two-tranche 144a bond issue by RasGas 3, a 70:30 joint venture of Qatar Petroleum and the US' ExxonMobil Corporation, has been priced.The issue consisted of a $750 million, 10-year tranche, with an average life of 7.25 years, and an $800 million, 21-year tranche with an average life of 18 years. The medium bond was priced at 113 basis points (bp) over US treasuries while the long bond was priced at 148 bp (MEED 15:9:06).Goldman Sachs and Lehman Brothers acted as lead managers.

  • Reaching a peak

    After a feverish few months, construction materials prices began to level off slightly in the third quarter of the year. The usual summer slowdown in activity is partly responsible, but perhaps the most significant factor is the lowest quarterly rise in project activity since the start of 2005.

  • Real estate project deluge continues

    Two major real estate developments have been launched in the kingdom. The news follows the announcement in late September that Ithmaar Bank planned three schemes worth a total of $2,000 million (MEED 29:9:06).Al-Enma'a House for Real Estate, a subsidiary of Kuwait Finance House is planning a BD 300 million ($789.5 million) new town at Hidd. The project will extend over 1.8 million square metres off Muharraq, with the first phase due for completion in five years.The town will be d

  • Real estate project deluge continues

    Two major real estate developments have been launched in the kingdom. The news follows the announcement in late September that Ithmaar Bank planned three schemes worth a total of $2,000 million (MEED 29:9:06).

  • Red-Dead study attracts interest

    International consultants are lining up for the $15.5 million World Bank-funded study into the feasibility of the $800 million Red Sea-Dead Sea Conveyor project to save the Dead Sea. International consultants including DHV Consultants of the Netherlands, the US' CH2M Hill and Amman-based MWH Arabtech Jardaneh have confirmed their interest in the two-year consultancy. Expressions of interest for the study will be invited following the signing of a multi-donor trust fund agreement by the end of

  • Refinery advisory awarded

    The team of Calyon with local affiliate Banque Saudi Fransi has been awarded the financial advisory mandate on the planned 400,000-barrel-a-day (b/d) export refinery at Jubail. The project is being carried out by a joint venture (JV) of Saudi Aramco and France's Total (MEED 1:9:06).

  • Refinery advisory awarded

    The team of Calyon with local affiliate Banque Saudi Fransi has been awarded the financial advisory mandate on the planned 400,000-barrel-a-day (b/d) export refinery at Jubail. The project is being carried out by a joint venture (JV) of Saudi Aramco and France's Total (MEED 1:9:06).Three pairings were competing for the mandate. The other bidders were HSBC with SABB which had been widely tipped to win the work and Mizuho Financial Group with Gulf International Bank .Financial cl

  • Report reveals oil-for-food scandal

    The long-awaited final report from the independent inquiry investigating misconduct under the UN's Iraqi oil-for-food programme published a list of more than 2,000 companies that made a total of $1,800 million in illicit payments to Saddam Hussein's regime.

  • Revised prices sought for Bandar Abbas refinery

    National Iranian Oil Refining & Distribution Company (NIORDC) has invited six groups to submit revised commercial proposals for the engineering, procurement and construction (EPC) contract on the $1,000 million greenfield condensates refinery planned at Bandar Abbas.The bidders are understood to include: China National Petroleum Corporation (CNPC); UAE-based Petrofac International, with the local Namvaran Consult; Italy's Snamprogetti, with Tehran Jonoob and Bina, both local; China's Sin

  • Revised prices sought for Bandar Abbas refinery

    National Iranian Oil Refining & Distribution Company (NIORDC) has invited six groups to submit revised commercial proposals for the engineering, procurement and construction (EPC) contract on the $1,000 million greenfield condensates refinery planned at Bandar Abbas.

  • Rice in surprise Baghdad visit

    US Secretary of State Condoleezza Rice arrived in Baghdad on 5 October on an announced visit. Rice has already visited Saudi Arabia, Egypt, the Palestinian Territories and Israel. She is expected to hold talks with Iraqi leaders including Prime Minister Nouri al-Maliki.

  • Rice meets Israeli leaders

    US Secretary of State Condoleezza Rice on 5 October met Israeli ministers in Jerusalem as part of her week-long tour of the Middle East. Rice was expected to press Tel Aviv on easing restrictions on Gaza's borders. Israeli Defence Minister Emir Peretz said Israel would 'step up the pace with respect to everything related to the crossings'. Following the meeting, Israeli military sources told the BBC that the Karni, Rafah and Sufa crossings had reopened. In a meeting with F

  • Rice to visit region as Olmert, Abbas plan summit

    US Secretary of State Condoleezza Rice travelled to the region on 1 October to revive peace talks between Tel Aviv and the Palestinian Authority. Rice left Washington on 1 October on a visit that will include Israel, the Palestinian Territories, Cairo, and Riyadh. The visit comes after from Israeli Prime Minister Ehud Olmert announced on 28 September that he will meet Palestinian President Abbas for a peace summit.'I hope to meet him within the coming days,' Olmert told th

  • Rice, Barzani talk oil

    US Secretary of State Condoleezza Rice on 6 October met Iraqi Kurdish leader Masoud Barzani as part of her surprise visit to Iraq. The pair discussed the control of oil resources in Kurdistan. The meeting comes as the Iraqi government is drafting legislation to govern the sharing of oil revenues and investment. 'As for the revenues of oil we [favour] a fair distribution of oil revenues all over Iraq,' Barzani said after the meeting. In September, Kurdistan warned the feder

  • Rice, King Abdullah talk

    US Secretary of State Condoleezza Rice met Saudi Arabia's King Abdullah on 2 October as she began a tour of the Middle East. She also held talks with Foreign Affairs Minister Prince Saud al-Faisal. Rice discussed developments in the Palestinian Territories, Lebanon and Iraq. On her way to Jeddah, Rice said she would discuss ways to help to Palestinian Authority President Abbas and Lebanese Prime Minister Fouad Siniora. 'I want Saudi's involvement in the stabilisation of Ir

  • Riyadh approves utility sale

    Water & Electricity Minister Abdullah al-Hussayan and the board of directors approved on 10 October the privatisation strategy for Saline Water Conversion Corporation (SWCC). The decision will now go to the Supreme Economic Council for review and final approval.

  • Riyadh denies revaluation plan

    Riyadh has quashed speculation that King Abdullah planned a currency revaluation as an -'Eid gift' to the people. The mid-October hints pushed the riyal to the top of its limited fluctuation band against the dollar. 'These rumours are totally baseless,' Mohammed al-Jasser, deputy governor of the Saudi Arabian Monetary Agency (SAMA - central bank), said on 24 October.

  • Riyadh launches licence contest

    Riyadh has kicked off the competition for the kingdom's third mobile and first private fixed-line licences. The Communications & Information Technology Commission (CITC) has given companies until 20 January to submit applications for the mobile services contract and until 27 January for the landline licences (MEED 7:7:06).

  • Riyadh library highlights contractor dearth

    The submission of bids from only two contractors on 1 October for the contract to build a new public library has once again raised questions over the lack of contractor capacity within the kingdom. Local tendering regulations stipulate that at least three companies must participate in tenders.

  • Riyadh on the right track, says IMF

    Riyadh is right to maintain the Saudi riyal's current peg to the US dollar, says the IMF in its latest Article IV consultation with Saudi Arabia. The report, which was published on 27 September, gives a clean bill of health to the region's largest economy and praises Riyadh's economic management.

  • Riyadh on the right track, says IMF

    Riyadh is right to maintain the Saudi riyal's current peg to the US dollar, says the IMF in its latest Article IV consultation with Saudi Arabia. The report, which was published on 27 September, gives a clean bill of health to the region's largest economy and praises Riyadh's economic management.

  • Riyadh opens IPO pipeline

    The Capital Market Authority (CMA) in early October announced the identity and timing of the next three initial public offerings (IPOs) in the kingdom. CMA chairman Abdulrahman al-Tuwaijri said that no further primary offerings would be staged before the end of the year.

  • Riyadh: Plugging the leaks

    Riyadh will be the test case for the introduction of limited private investment in the water distribution sector. But whichever company wins the management contract is going to have a tough job. In addition to taking over the running of distribution, collection, metering and storage systems from the Riyadh general directorate, the management contractor will also be required to increase delivery times to 24 hours a day, reduce leakages, extend the geographical coverage of sewerage provision an

  • Roads authority receives bids for creek

    Dubai's Roads & Transport Authority (RTA) has received bids for the consultancy contract covering the extension of the creek from Business Bay to the Gulf. The project is expected to be one of the most challenging in Dubai as it will cross three of the emirate's main road corridors.

  • Rotana hotel on the cards

    The local MSCEB has been appointed to design a new four-star hotel near Manama's corniche for Banader Hotel Company, also local. The estimated BD 18 million ($47.4 million) property, to be managed by UAE-based Rotana Hotels, will include 270 rooms and 140 furnished apartments. Detailed designs are due to take about nine months.

  • Ruwais aluminium smelter consultants appointed

    US-based Bechtel and Germany's Fichtner have been appointed to carry out engineering studies for the new Ruwais aluminium smelter planned by Abu Dhabi Aluminium Company (ADAC) . Bechtel will carry out work on the grassroots smelter, while Fichtner will look at the power generation element.

  • Sabic buys Huntsman UK

    The US'Huntsman Corporationagreed on 28 September to sell 100 per cent of its shares inHuntsman Petrochemicals UK toSaudi Basic Industries Corporation (Sabic)for $700 million in cash. Sabic takes control of Huntsman UK's existing facilities, which comprise an ethylene/propylene cracker and a 1.3 million-tonne-a-year (t/y) aromatics plant, located in Wilton, Teeside. It will also complete the construction of a 400,000-t/y low-density polyethylene (LDPE) unit, which is expected to come on strea

  • Sabic buys Huntsman UK

    The US'Huntsman Corporationagreed on 28 September to sell 100 per cent of its shares inHuntsman Petrochemicals UK toSaudi Basic Industries Corporation (Sabic)for $700 million in cash. Sabic takes control of Huntsman UK's existing facilities, which comprise an ethylene/propylene cracker and a 1.3 million-tonne-a-year (t/y) aromatics plant, located in Wilton, Teeside. It will also complete the construction of a 400,000-t/y low-density polyethylene (LDPE) unit, which is expected to come on stre

  • Sabic profits up

    Saudi Basic Industries Corporation (Sabic) has reported a SR 5,400 million ($1,440 million) net profit for the third quarter, a 19 per cent increase over the second quarter and a 12 per cent year-on-year rise. Sabic vice-chairman and chief executive officer Mohamed al-Mady attributed the improvement to rising prices for most products and an 8 per cent climb in sales.

  • Sabic settles with Exxon

    Saudi Basic Industries Corporation (Sabic) announced on 28 September that ithad reached a full and final settlement with the US' ExxonMobil Corporation ofits disputes over polyethylene (PE) production technology and patents. Following the settlement, Sabic and its worldwide affiliates will have the right to use the technologyroyalty-free and will share equally in any third-partyroyalties from the past or future licensing of thetechnology by ExxonMobil.

  • Sabic settles with Exxon

    Saudi Basic Industries Corporation (Sabic) announced on 28 September that ithad reached a full and final settlement with the US' ExxonMobil Corporation ofits disputes over polyethylene (PE) production technology and patents. Following the settlement, Sabic and its worldwide affiliates will have the right to use the technologyroyalty-free and will share equally in any third-partyroyalties from the past or future licensing of thetechnology by ExxonMobil.

  • Sadat's nephew goes on trial

    The nephew of the assassinated Egyptian President Sadat appeared in court for the first time on 18 October. Talat Sadat is accused of defaming the army by implicating it in his uncle's death. 'This is a dictatorial regime that is consolidating itself in power against people's will,' Sadat said on his way to court. 'There is political enmity between me and the Interior Minister [General Habib Ibrahim Habib el-Adly] because this man is terrorising the people of Egypt.'

  • Sadat's nephew pleads not guilty

    The nephew of slain Egyptian President Sadat on 11 October went on trial for saying his uncle's death was part of an international conspiracy in which Egyptian military officials were implicated. Talaat Sadat pleaded innocent to 'spreading false rumours and insulting the armed forces' in a military court.'I am confident of my innocence,' Talaat Sadat told reporters as he left the court. 'I didn't insult the armed forces. They [the authorities] ju

  • Sadat's nephew to go on trial

    The Egyptian parliament has stripped Talaat Sadat, an opposition MP and nephew of former President Anwar Sadat, of his immunity, Egyptian media reported on 6 October. He will be tried by a military court on charges of defamation after he was quoted by a newspaper as saying the assassination of his uncle was part of an international conspiracy in which Egyptian military officials may have been implicated.'I have done nothing wrong,' Talaat Sadat s

  • Saddam criticises judge

    Former Iraqi leader Saddam Hussein on 11 October attacked the judge presiding over his genocide trial, saying he had not been allowed to defend himself. 'When the accuser and prosecutor talk, the world listens,' Saddam says. 'When the man called 'the accused' speaks, you switch off the microphone. Is this fair?' A day earlier, judge Mohammed Oreibi al-Khalifa switched off Saddam's microphone and ejected him from the court after the former leader shouted out a verse from th

  • Saddam criticises judge

    Former Iraqi leader Saddam Hussein on 11 October attacked the judge presiding over his genocide trial, saying he had not been allowed to defend himself. 'When the accuser and prosecutor talk, the world listens,' Saddam says. 'When the man called ‘the accused' speaks, you switch off the microphone. Is this fair?' A day earlier, judge Mohammed Oreibi al-Khalifa switched off Saddam's microphone and ejected him from the court after the former l

  • Saddam trial resumes

    The trial of former Iraqi leader Saddam Hussein resumed on 9 October, having been adjourned for two weeks after the judge ejected Saddam. Saddam is on trial for his role in the 1980s Anfal campaign, which left 182,000 Kurds dead. The court heard testimony from a woman who said Saddam had buried her family in a mass grave. 'I know what happened to my family,' she said. 'They were buried alive,' she told the court. The defence team continued its boycott of the proceedings in

  • Saddam's defence team rejoins trial

    Lawyers defending Saddam Hussein and his six co-defendants were allowed back into the courtroom by chief judge Mohammed al-Uraibi on 17 October, ending their boycott of the proceedings that began in mid-September. Saddam used the session to speak out against continuing sectarian violence in Iraq. 'We are one people as Iraqis and no-one can doubt that in this place,' he said. 'The one who has an interest in separating Arabs and Kurds are the Zioni

  • Salmiya to get new hotel

    The local Alargan International Real Estate Company has signed an agreement with Swiss hotel chain Moevenpick Hotels & Resorts to manage its new five-star hotel in the Salmiya district of Kuwait City. Covering a total plot area of 40,000 square metres, the 308-room will feature a private beach, a spa and a fitness centre and 14 villas. ALARGAN sister company, ALARGAN National Trading & Contracting, is the main contractor on the KD 19.5 million ($67 million) project, which is expected to open in

  • Sanaa approves accounts

    High oil prices delivered a 37 per cent increase in government revenues in 2005, according to Sanaa's end-of-year fiscal accounts, which were approved by the cabinet in mid-October.

  • SAUDI ARABIA

    Tender no 30732034/00. Carrying out miscellaneous building maintenance and repair works and provision of other technical services at Dammam.

  • SAUDI ARABIA

    Supply of fuel for air force units and a strategic missiles location.

  • SAUDI ARABIA

    Tender no 202-C14. Construction of a solid waste disposal facility. The scope of works comprises the construction of the facility and a vertical expansion of the existing landfill site and all works related to the earthworks the leachate collection system liners degassing collection system service roads and all other associated works.Details from Royal Commission for Jubail & Yanbu, Directorate-General for Royal Commission in Jubail, Director, Contracts Section, PO Box 10001, Madinat al-

  • SAUDI ARABIA

    Tender no 921. Carrying out the second (B), third and fourth stages of a residential city project in Halat Ammar (the border exit).

  • SAUDI ARABIA

    Tender no KH/R/E/10. Carrying out medium-voltage switchgear protection and upgrading at the Al-Khobar power and desalination plant, phase 2.

  • SAUDI ARABIA

    Tender no PIC-H-1704. (Open to 100 per cent Saudi-owned contractors only.) Construction of the women's campus, package 1, phase 1, at the Yanbu University College.The scope of works includes all supervision, labour, materials and equipment necessary for site works, construction of classrooms, laboratories, a student centre and utilities for the entire campus when completed. The works will take 730 days.

  • SAUDI ARABIA

    Prequalification. Tender no 30762026/00. Provision of vehicle transportation services.Details on payment of SR 2,000 from Saudi Electricity Company, Contracting Department, Eastern Operating Area, Reception Room 3-106W, Headquarters Building, Dammam.

  • SAUDI ARABIA

    Tender no 6522/7/1427. Construction of main sewage lines in Jeddah city.

  • SAUDI ARABIA

    Tender no POM-N-2756. (Open to 100 per cent Saudi-owned contractors only.) Five years' provision of operation and maintenance (O&M) and support services including technical support for Royal Commission computer hardware and software at Madinat Yanbu al-Sinaiyah. A pre-bid meeting will take place on 6 November.

  • SAUDI ARABIA

    Tender no PIC-A-1125A. (Open to 100 per cent Saudi-owned contractors only.) Carrying out corrosion repair works and corrosion protection of culverts, underpasses and bridges along haul roads in Madinat Yanbu al-Sinaiyah. The scope of works includes all supervision labour materials and equipment necessary for the works. A pre-bid meeting will take place on 29 October.

  • SAUDI ARABIA

    Tender no 098-C29. Expansion of the Jubail Industrial College, phase three. The scope of works comprises procurement and construction of eight three-storey dormitory buildings each with a total area of 3,798 square metres a mosque with a total area of 693 square metres a clinic building with a total area of 398 square metres and two commercial buildings with a total area of 368 square metres each. A pre-bid meeting will take place on 4 November.Details from Royal Commission for Jubail &

  • SAUDI ARABIA

    Tender no POM A-2027. (Open to 100 per cent Saudi-owned contractors only.) Provision of solid waste collection, disposal and general sanitation services (follow-on no 9). The scope of works comprises three years' provision of labour and materials for the collection and disposal of solid waste materials within Madinat Yanbu al-Sinaiyah and includes the cleaning and sweeping of public areas and janitorial and pest control services. A pre-bid meeting will take place on 14 November.

  • SAUDI ARABIA

    Construction of a new residential building at the Shuqaiq plant and extension of the new housing compound at new small satellite plants at Umluj, Rabigh, Qunfudah, Farsan and Al-Wajh.

  • SAUDI ARABIA

    Rehabilitation of concrete structures at the Umluj power and desalination plant on the western coast.Details on payment of SR 800 from Saline Water Conversion Corporation, Mecca Road, PO Box 5968, Riyadh 11432, telephone (9661) 4630503/4630501/4631780.

  • SAUDI ARABIA

    Prequalification. Contract no G3000023/00. Carrying out horizontal directional drilling works in the eastern operating area.Details on payment of SR 5,000 from Saudi Electricity Company, Contracting Department, Reception Room 3-106W, Headquarters Building, Dammam.

  • SAUDI ARABIA: Clients look for quality

    When the King Fahd library project was tendered in August, it created a buzz in the local contracting community. The project had a unique feel to it. The membrane design required detailed preparation and accurate pricing. The location made it one of the few landmark projects ever tendered in the capital. But when bids came in at the start of October, the response was a derisory two. Local tendering regulations stipulate at least three must bid.

  • Saudi Arabian clients look for quality

    The kingdom's booming economy is presenting contractors with a host of new challenges.

  • Saudi Arabian Privatisation: Floating water

    Life this summer was even more uncomfortable than usual for residents of Jeddah. The soaring temperatures and intense humidity of the Red Sea climate were compounded by a shortage of potable water as taps ran dry. As people stood in queues waiting for the water trucks to make their emergency deliveries, tempers frayed and fights erupted.

  • Saudi Aramco, Sabic seek to borrow big

    Saudi Basic Industries Corporation (Sabic) and Saudi Aramco are both in the market for multi-billion-dollar loans. Senior banks have been appointed and the deals have been launched to the wider market.

  • Saudi establishes succession committee

    Saudi Arabia on 20 October announced it had set up a committee of princes who will vote on the eligibility of kings and crown princes to rule. The new system will only come into force after Crown Prince Sultan, the current heir to King Abdullah takes over.The panel, which will be called the Allegiance Institution, will consist of the sons and grandsons of the former King Abdul Aziz al-Saud. The committee will play a role in the appointment of a new crown prince put forward

  • Saudi finances Hebron

    The Saudi Committee for Relief of the Palestinian People is financing the construction of 100 housing units in the West Bank town of Hebron. The $6.3 million project is being implemented under the UN Human Settlements Programme (UN-Habitat).

  • Saudi finances Hebron

    The Saudi Committee for Relief of the Palestinian People is financing the construction of 100 housing units in the West Bank town of Hebron. The $6.3 million project is being implemented under the UN Human Settlements Programme (UN-Habitat).

  • Seismic survey under way

    ChevronTexaco Libya, the local affiliate of the US' Chevron Corporation, is carrying out a 2D seismic survey in onshore block 177, south of the Murzuq basin. The study is targeted to be completed by the third quarter of 2007. It will be followed by a 3D survey over the 17,600-square-kilometre acreage and the drilling of exploratory wells. Chevron is the operator of the concession and holds a 100 per cent interest, under an agreement signed with National Oil Corporation (NOC) in e

  • Seismic survey under way

    ChevronTexaco Libya, the local affiliate of the US' Chevron Corporation, is carrying out a 2D seismic survey in onshore block 177, south of the Murzuq basin. The study is targeted to be completed by the third quarter of 2007. It will be followed by a 3D survey over the 17,600-square-kilometre acreage and the drilling of exploratory wells. Chevron is the operator of the concession and holds a 100 per cent interest, under an agreement signed with National Oil Corporation (NOC) in early 2005 (ME

  • Sewage plants tendered

    Abu Dhabi Water & Electricity Authority (ADWEA) has issued the request for proposals (RFP) for the build-own-operate-transfer (BOOT) contract for two greenfield sewage treatment plants (STPs) at Al-Wathba in Abu Dhabi and Al-Saad in Al-Ain. The tender, with a closing date of 31 January, was originally to include the acquisition of two existing plants at Mafraq in Abu Dhabi and Zakher in Al-Ain, but the client removed them from the scheme to make it more attractive to bidders (MEED 8:9:06).

  • Sewage plants tendered

    Abu Dhabi Water & Electricity Authority (ADWEA) has issued the request for proposals (RFP) for the build-own-operate-transfer (BOOT) contract for two greenfield sewage treatment plants (STPs) at Al-Wathba in Abu Dhabi and Al-Saad in Al-Ain. The tender, with a closing date of 31 January, was originally to include the acquisition of two existing plants at Mafraq in Abu Dhabi and Zakher in Al-Ain, but the client removed them from the scheme to make it more attractive to bidders (MEED 8:9:06).

  • Sewerage work out to bid

    Dubai Municipality has invited 13 prequalified groups to bid by 10 December for the first phase of the grassroots Jebel Ali sewage treatment plant (STP).

  • Shaheen revises Red Sea resort

    Jordan's Shaheen Business Investment Group expects to complete in mid-October the revised masterplan for its $2,000 million Red Sea resort development at Sahl Hasheesh near Hurghada. The new plan, which is being carried out by the UK's Foster & Partners, is an adaptation of an earlier scheme, revised after Shaheen acquired additional land for the resort earlier this year. The US' Parsons Brinckerhoff is the project manager. Construction is expected to start in early 2007 with the resort to be

  • Shaheen revises Red Sea resort

    Jordan's Shaheen Business Investment Group expects to complete in mid-October the revised masterplan for its $2,000 million Red Sea resort development at Sahl Hasheesh near Hurghada. The new plan, which is being carried out by the UK's Foster & Partners, is an adaptation of an earlier scheme, revised after Shaheen acquired additional land for the resort earlier this year. The US' Parsons Brinckerhoff is the project manager. Construction is expected to start in early 2007 with the resort to becom

  • Shanfari on the road

    The local Shanfari Trading & Contracting has been selected for the contract to expand the Salalah-Thumrait highway. The contractor was low bidder at RO 47.7 million ($124 million) for the project when bids were submitted in the summer, beating off competition from four other local and international companies (MEED 11:8:06).

  • SHARIA: Competing models

    So common are conferences on Islamic finance these days that an injection of controversy to proceedings is sometimes welcome. And arguments between Malaysian and GCC practitioners about the sharia-compliance or otherwise of products or concepts are its most reliable source. Stricter Gulf scholars have been known to heckle their more liberal Malaysian counterparts.

  • Shifting units

    July is usually a quiet month in Saudi Arabia, a period when businesses wind down and wealthier people prepare to decamp to somewhere cooler. Not this year. With oil prices still hovering around $60 a barrel, there is money to be made. New properties and shares in property companies are being bought and traded, and this summer the biggest real estate project of all came to market. In less than a fortnight, more than 10 million Saudi citizens scrambled to buy into King Abdullah Economic City,

  • Shuwaikh cancelled

    The Ministry of Energy (Electricity & Water) has cancelled the tender for the $210 million contract to build the Shuwaikh desalination plant. The move came after only one bid was submitted last October by South Korea's Doosan Heavy Industries & Construction. Under tender regulations, major projects must receive at least one bid to proceed. The Central Tenders Committee, which has the final say on project approvals, declined to accept the sole bid. The ministry will retender the contract by th

  • Sinai police break up weapons ring

    Egyptian police announced on 30 September that they had broken up a weapons-dealing ring in Sinai that had been illegally selling guns and ammunition. 'Nine members of the network were caught red-handed while selling weapons and explosives on one of the streets of El-Arish to a group of Bedouin and Palestinians,' a witness told Reuters. Four of the men arrested were understood to be members of Egypt's security services. The area has been the site of three bombings over the last

  • Sixty bodies uncovered in Baghdad

    Police in Baghdad said 60 bodies had been found across the capital in the 24 hours before the morning of 10 October. The dead are believed to have fallen victim to sectarian death squads. Also on 10 October, a car bomb exploded near a Sunni mosque in the southern Baghdad district of Doura, killing 10 people. The US military said 11 militants, most of them dressed as Iraqi policemen, were killed in fighting in the predominantly Shia city of Diwaniya in southern Iraq. On 8 O

  • Sixty bodies uncovered in Baghdad

    Police in Baghdad said 60 bodies had been found across the capital in the 24 hours before the morning of 10 October. The dead are believed to have fallen victim to sectarian death squads. Also on 10 October, a car bomb exploded near a Sunni mosque in the southern Baghdad district of Doura, killing 10 people. The US military said 11 militants, most of them dressed as Iraqi policemen, were killed in fighting in the predominantly Shia city of Diwani

  • Sohar links tendered

    The Transport & Communication Ministry is set to issue by the end of November a tender for a major interchange at Sohar. The interchange will link the industrial port area to the Muscat highway and Sohar Aluminium's smelter under construction in Sohar industrial estate, 11 kilometres from the port. It will replace an existing roundabout on the highway.

  • Sohar links tendered

    The Transport & Communication Ministry is set to issue by the end of November a tender for a major interchange at Sohar. The interchange will link the industrial port area to the Muscat highway and Sohar Aluminium's smelter under construction in Sohar industrial estate, 11 kilometres from the port. It will replace an existing roundabout on the highway.

  • Sonatrach changes priority

    Algiers is scaling back its ambitious plans to develop a series of worldscale petrochemical plants. Senior project sources have told MEED that state energy company Sonatrach has decided to focus on just two of the seven greenfield projects originally tabled for development.The sources say that Sonatrach is unlikely to award concessions on the remaining projects, two of which an integrated purefied terephthalic acid (PTA) and polyethylene terephthalic (PTA) complex and a linear alkyl ben

  • Sonatrach revises new refinery plan

    State energy company Sonatrach has suspended plans to build a 300,000-barrel-a-day grassroots refinery at Tiaret in order to carry out a detailed review of the project's economic and technical viability. The decision puts on hold an international tender for a 35 per cent equity stake in the development. The future of the tender now depends on the conclusions of a pre-feasibility study into the scheme being carried out jointly by the UK office of the US' Jacobs Consultancy and HSBC . The study

  • Sonatrach revises new refinery plan

    State energy company Sonatrach has suspended plans to build a 300,000-barrel-a-day grassroots refinery at Tiaret in order to carry out a detailed review of the project's economic and technical viability. The decision puts on hold an international tender for a 35 per cent equity stake in the development. The future of the tender now depends on the conclusions of a pre-feasibility study into the scheme being carried out jointly by the UK office of the US' Jacobs Consultancy and HSBC . The study re

  • Spanish photographer kidnapped in Gaza

    A Spanish photographer working for international news agency Associated Press was kidnapped in Gaza City on 24 October. No group has yet claimed responsibility for his capture, although Hamas has condemned the move. 'This damages the reputation of the Palestinian people,' said Ghazi Hamad, a spokesman for the group. 'The government will take all steps to ensure his release.' The photographer, Emilio Morenatti, was understood to have been kidnapped by four gunmen who commandeered his tran

  • Spanish photographer kidnapped in Gaza

    A Spanish photographer working for international news agency Associated Press was kidnapped in Gaza City on 24 October. No group has yet claimed responsibility for his capture, although Hamas has condemned the move. 'This damages the reputation of the Palestinian people,' said Ghazi Hamad, a spokesman for the group. 'The government will take all steps to ensure his release.' The photographer, Emilio Morenatti, was understood to have been kidnapped by four gunmen who commandeere

  • Special report: Construction activity - Reaching a peak

    Construction activity has been affected by the high costs of developments, demanding clients and excessive competition among contractors.

  • Statoil pays out $18 million for Horton bribery case

    Norway's Statoil must pay US authorities $18 million for bribing Iranian officials to win the South Pars phases 6-8 gas contracts in 2002-03. The company agreed to pay a $10.5 million disgorgement to the US Securities & Exchange Committee and a further $10.5 million fine to the US Justice Department and US Attorneys Office. The fine will be reduced by $3 million because the company has already paid a fine of that sum to the Norwegian authorities (MEED 19:9:03).

  • Sterling issue looms

    Roadshows are due to be launched by the end of October for a sterling-denominated bond issue by Abu Dhabi Commercial Bank (ADCB) . Bank of America and Royal Bank of Scotland are the lead managers. It will be the first sterling-denominated bond out of the region and is the latest in a series of ADCB issues in a wide range of currencies from its euro medium-term note programme (MEED 20:10:06).

  • Stock market law issued

    Plans for the country's first stock exchange took a major step forward on 1 October, when Damascus issued law 55 to establish the bourse, due to be launched by early 2007. A second new statute, basic financial law 54, was also issued. Both are part of a wider economic reform programme being pursued by the government (MEED 2:12:05).

  • Strong interest in Shobak wastewater

    The Water & Irrigation Ministry is evaluating prequalification documents from 13 companies for the estimated $5 million contract to build a wastewater treatment plant in Shobak, 200 kilometres south of Amman. A shortlist is expected to be released by the end of May. The scope of works includes the construction of a wastewater plant with capacity of 350 cubic metres a day (cm/d) and associated works. The consultant is a consortium comprising IRG, ECODIT and Stearns & Wheler, all of the US, an

  • Subiya water tendered

    The Ministry of Energy (Electricity & Water) has invited 12 local contractors to bid by 3 December for the C4 third-phase package on the $470 million Subiya water storage and distribution scheme. The estimated $40 million contract covers the installation and maintenance of a 59-kilometre, 1.2-metre-diameter water pipeline running from Mutlaa al-Aali to the West Funaitees water distribution complex.

  • Substation bids submitted

    Saudi Arabia's National Contracting Company (NCC) is low bidder for three contracts to build and extend substations for state upstream operator Kuwait Oil Company (KOC). For a fourth package, covering overhead lines between the substations, South Korea's Hyundai Engineering & Construction is low bidder (MEED 11:8:06).NCC is low bidder at KD 4.97 million ($17.1 million) for the contract to supply and install the new 132/11-kV Magwa A substation at the Magwa oil field and at KD 4.93 mi

  • Substation bids submitted

    Saudi Arabia's National Contracting Company (NCC) is low bidder for three contracts to build and extend substations for state upstream operator Kuwait Oil Company (KOC). For a fourth package, covering overhead lines between the substations, South Korea's Hyundai Engineering & Construction is low bidder (MEED 11:8:06).

  • Substation work retendered

    The Ministry of Energy (Electricity & Water) has invited seven international contractors to submit bids by 21 November for a retendered contract to build the Siddiq W 300/132-kV substation and expand the existing 132/11-kV Ahmadi W substation to 300 kV.

  • Substation work retendered

    The Ministry of Energy (Electricity & Water) has invited seven international contractors to submit bids by 21 November for a retendered contract to build the Siddiq W 300/132-kV substation and expand the existing 132/11-kV Ahmadi W substation to 300 kV.

  • Sudanese president supports ramped-up AU force

    Sudanese President Omar Hussan al-Bashir said on 25 October that Khartoum would support a peace-keeping mission if it remained under the control of the African Union (AU) and that he would allow the UN or the EU to provide logistical support. 'We have no objection to the AU increasing its troops, strengthening its mandate, or receiving logisitical support from the EU, the UN or the Arab League for that matter, but this must of course be done in consultation with the government

  • Sulphur terminal bids in

    Abu Dhabi Oil Refining Company (Takreer) has received technical bids for the dredging works on the phase 3 expansion of the Ruwais sulphur handling terminal (RSHT). The bidders include Geneva-registered Archirodon Construction Overseas, Netherlands-based Royal Boskalis Westminister, Belgium's Dredging International and Jan De Nul also of Belgium (MEED 22:9:06).

  • Supply news boosts Sitra

    The Kuwait Finance House - Bahrain (KFH-Bahrain) plan to build an estimated $2,000 million petrochemicals, power and water project at Sitra has received a boost, with the client seeing improving prospects for a gas supply agreement between Doha and Manama. Germany's Uhde has also replaced the US' Stone & Webster, part of the Shaw Group, on the ethane crackerelement.

  • Supply news boosts Sitra

    The Kuwait Finance House Bahrain (KFH-Bahrain) plan to build an estimated $2,000 million petrochemicals, power and water project at Sitra has received a boost, with the client seeing improving prospects for a gas supply agreement between Doha and Manama. Germany's Uhde has also replaced the US' Stone & Webster, part of the Shaw Group, on the ethane crackerelement.Uhde was already contracted to construct the ethylene dichloride and caustic soda units. The other three companies involv

  • Syria favours talks with Israel

    Syrian President Asad has said he is ready to hold talks with Israel to find a peaceful solution the Middle East conflict. Asad on 9 October told the BBC that Syria and Israel could recognise each other's right to exist and coexist in peace as neighbours. However, he added, 'we do not know whether this [Israeli] government is strong enough to move towards peace'. Asad said Western officials had tried to turn Syria into 'a scapegoat' and to 'absolve themselves from any resp

  • Syria still supports Hezbollah, says Israel

    Israel on 16 October accused Syria of continuing to provide Lebanese Hezbollah militants with weapons, violating a UN ceasefire which took effect on 14 August. 'We view this with great severity,' a spokesperson quoted the Israeli Defence Minister Emir Peretz as saying. 'We are in the process of gathering evidence. If it turns into a regular occurrence, we will deal with the smuggling ourselves.'Peretz was speaking after an intelligence officer, Brigadier General Yossi Baid

  • Syrian Tourism: Damascus' attraction plan

    The war in Lebanon has not done Syria's tourism industry any favours. 'I have a group coming in two weeks,' says a local guide in Damascus. 'A one-person group?' jokes his colleague.

  • Tabreed cools RAK

    Local real estate developer RAK Properties has signed an agreement with the local National Central Cooling Company (Tabreed) to provide district cooling for the Julfar towers development in Ras al-Khaimah. The contract calls for the supply of 3,400 tonnes of refrigeration for the two 43-storey towers. Sharjah-based Al-Hamad Contracting Company is working on the AED 420 million ($114 million) main construction contract (MEED 16:6:06).

  • Tabuk uni gets approval

    The Higher Education Ministry is due to issue tenders for several packages by the end of October on the greenfield Tabuk University project. The project's first phase covers an area of 9 million square metres and is valued at about SR 1,000 million ($375 million).

  • Takaful premiums to triple

    The global Islamic insurance market is growing by about 20 per cent a year and gross premiums are set to more than triple by 2015, according to new research by Moody's Investors Service. The rating agency forecasts that global takaful premiums will reach $7,000 million by 2015, compared with about $2,000 million at the end of 2005.

  • Talabani would welcome Iran, Syria

    Iraqi President Talabani on 18 October said he would welcome greater involvement by Syria and Iran in stabilising Iraq. He told the BBC that violence in Iraq could end 'within months' if the two countries played a part in efforts to curb violence. The move would be 'the beginning of the end of terrorism'. Talabani was responding to speculation that a panel of experts headed by former US secretary of state James Baker might recommend that the US open talks with Damascus and

  • Tapping into private finance

    Middle East utility tariffs are unlikely to stay so low for much longer. Their reform, combined with growing demand, makes the region a prime target for international developers.

  • Taqa plans bonds to refinance plants

    Abu Dhabi National Energy Company (Taqa) has launched a $10,000 million capital markets programme to refinance debt held by its independent water and power plant (IWPP) subsidiaries and fund future acquisitions. Goldman Sachs is arranging the programme and roadshows kicked off in the GCC in mid-October for the first tranche.Moody's Investors Service on 10 October assigned Taqa an Aa3 rating, citing the low-risk nature of the IWPP assets and Taqa's strategic importance to the Abu Dhabi

  • Taqa's bond breaks records

    The first bond issue from the $10,000 million capital markets programme planned by Abu Dhabi National Energy Company (Taqa) was priced on 24 October. At almost $3,500 million, the three-part issue was the biggest ever international bond out of the region.

  • TE eyes Vodafone

    Telecom Egypt (TE) agreed on 2 October to increase its stake in Vodafone Egypt (VE) by 23.5 per cent.

  • TE eyes Vodafone

    Telecom Egypt (TE) agreed on 2 October to increase its stake in Vodafone Egypt (VE) by 23.5 per cent.TE's offer, valued at£E 5,630 million ($981.5 million), to buy almost all the shares in VE not already held by the UK's Vodafone, priced VE shares at£E 100 ($17.40) each. TE already holds a 25.5 per cent stake in VE. Vodafone holds 50.1 per cent (MEED 8:9:06).

  • Technology: Worth its salt

    The Addur desalination plant in Bahrain has a lot to answer for, as far as supporters of reverse osmosis (RO) technology are concerned. Ever since commissioning in 1992, the first large-scale RO unit on the east coast of the Arabian peninsula has been plagued by technical and operational issues, never managing to produce more than 3 million gallons a day (g/d) of its design capacity of 10 million g/d. 'It has been the albatross hanging around the neck of the RO industry,' says one leading contra

  • Technology: Worth its salt

    The Addur desalination plant in Bahrain has a lot to answer for, as far as supporters of reverse osmosis (RO) technology are concerned. Ever since commissioning in 1992, the first large-scale RO unit on the east coast of the Arabian peninsula has been plagued by technical and operational issues, never managing to produce more than 3 million gallons a day (g/d) of its design capacity of 10 million g/d. 'It has been the albatross hanging around the neck of the RO industry,' says one leading con

  • Tehran criticises US military plans

    Officials at the Iranian Foreign Affairs Ministry have criticised planned US military exercises in the Gulf which will involve Bahrain, Kuwait, France and the UK. US forces based near Bahrain are understood to be preparing to practise intercepting and searching ships carrying weapons of mass destruction and missiles. Tehran complained that the US-led exercises were not in line with the security and stability of the region and were instead aimed at fomenting crises. The manoeuvres come as

  • Tehran criticises US military plans

    Officials at the Iranian Foreign Affairs Ministry have criticised planned US military exercises in the Gulf which will involve Bahrain, Kuwait, France and the UK. US forces based near Bahrain are understood to be preparing to practise intercepting and searching ships carrying weapons of mass destruction and missiles. Tehran complained that the US-led exercises were not in line with the security and stability of the region and were instead aimed at fomenting crises. The manoeuvr

  • Tehran plans enrichment expansion

    Reports in Iran on 25 October claim that Tehran has installed a second centrifuge cascade used for uranium enrichment and that plans are fixed to begin feeding it with uranium gas within days. Iran's only other cascade produced tiny amounts of enriched uranium in April. The report, carried on Iran's student news network, Isna, comes as members of the UN Security Council prepare to propose packages of sanctions following Tehran's refusal to cease enrichment by the end of August.

  • Tehran remains defiant over sanctions

    Iran will take 'appropriate measures' if the UN Security Council votes to impose international sanctions over its atomic programme, an Iranian Foreign Ministry spokesman said on 22 October. 'Imposing sanctions will have repercussions on both sides, regionally and internationally,' said Mohammed Ali Husseini. ''If they impose sanctions we will take appropriate measures.' However, Husseini did not specify the kind of response that might be used, saying that wo

  • Tehran remains defiant over sanctions

    Iran will take 'appropriate measures' if the UN Security Council votes to impose international sanctions over its atomic programme, an Iranian Foreign Ministry spokesman said on 22 October. 'Imposing sanctions will have repercussions on both sides, regionally and internationally,' said Mohammed Ali Husseini. ''If they impose sanctions we will take appropriate measures.' However, Husseini did not specify the kind of

  • Tehran wants more talks

    Iranian President Ahmadinejad on 4 October said the Islamic republic wanted more talks with Western powers to allay international fears over its nuclear programme. However, he reaffirmed that Iran would not give up its right to produce nuclear power.'They are wrong if they think that the Iranian nation, in its path to obtain nuclear technology, will be stopped even for a second because of their rejection, nagging and frowning,' Ahmadinejad said.Iran has been

  • Tel Aviv denies German ship clash

    Israeli officials on 27 October admitted that an incident took place between its air force and a German naval vessel, but denied any shots had been fired. Two Israeli F-16 jets were alleged to have buzzed the ship on 24 October, but an Israeli military spokeswoman denied this, saying instead that jets had been scrambled after a German helicopter took off from the ship close to the shore without identifying itself. The jets returned to base as soon as it became the situation cle

  • Ten dead in car bomb attack

    At least 10 people were killed and 15 more were wounded in a car bomb in the town of Swaira, south of Baghdad, on 16 October. The explosion occurred near a marketplace. In Baghdad, a police officer was killed when two roadside bombs detonated near a bank in the centre of the capital. Also on 16 October, a US statement said two American marines had been killed in Anbar province, west of Baghdad. About 60 US soldiers have been killed across Iraq in October.On

  • Tenders out for bridges

    Dubai's Roads & Transport Authority has invited companies to bid by 6 November for a design and build contract covering 13 pedestrian bridges in Dubai. The bridges will be located on: Mankhool road, Sheikh Rashid road, Khalid bin Al-Waleed road, Saladin road, Bani Yas road, Damascus street, Abu Baker Al-Siddique street, Al-Rasheed road, Zabeel road, Haddiqa street, Khalifa bin Zayed road and Rebat street.

  • The Wave Muscat invites tenders for infrastructure

    Bids are due on 31 October for the infrastructure package on The Wave Muscat mixed-used residential and tourism development. The scope of works covers both underground utilities and above-ground civil work relating to water and sewerage systems, district cooling, drainage, causeway and road construction. It also involves the power supply, distribution, and the establishment of lighting and telecommunications.

  • Three await refinery advice

    Saudi Aramco will select a financial adviser for its $6,000 million export refinery at Jubail at a board meeting before 13 October. Deliberations follow beauty parades staged in the final week of September by three shortlisted teams. The bidders areCalyonwithBanque Saudi Fransi,HSBCwithSABBandMizuho Financial GroupwithGulf International Bank (GIB). 'HSBC would look the frontrunner on paper, but both the other teams also have strong points,' says an international banker. 'Mizuho and GIB are b

  • Three await refinery advice

    Saudi Aramco will select a financial adviser for its $6,000 million export refinery at Jubail at a board meeting before 13 October. Deliberations follow beauty parades staged in the final week of September by three shortlisted teams. The bidders areCalyonwithBanque Saudi Fransi,HSBCwithSABBandMizuho Financial GroupwithGulf International Bank (GIB). 'HSBC would look the frontrunner on paper, but both the other teams also have strong points,' says an international banker. 'Mizuho and

  • Three chase Salalah methanol

    Three firms have submitted technical bids for the $400 million contract to build a 3,000-tonne-a-day methanol plant at Salalah. They are: South Korea's GS Engineering & Construction, Paris-based Technip and Spain's Tecnicas Reunidas. Commercial bids are due in mid-November for the engineering, procurement and construction (EPC) contract. Oman Oil Company is the client (MEED 21:7:06).

  • Three on grid for Motorcity

    Local developer Union Properties has awarded one major contract on its AED 3,500 million ($950 million) Motorcity development and is close to making awards on two other packages.The 700,000-square-metre site is an extension of the already complete Dubai Autodrome on Emirates road and will be used as a business park for the automotive sector. The project includes the construction of a shopping mall, office towers, hotels and residential complexes.The local/Australian Nasa Multiple

  • Three on grid for Motorcity

    Local developer Union Properties has awarded one major contract on its AED 3,500 million ($950 million) Motorcity development and is close to making awards on two other packages.

  • Time to reflect

    The unusual coincidence of the traditionally quiet Ramadan period with the release of third-quarter results dampened somewhat the brisk trading associated with reporting season. But as the markets closed for the Eid holiday, investors had breathing space to re-evaluate their portfolios in the light of earnings figures. Most blue-chips recorded strong profits growth, although banks and investment companies felt the effects of the becalmed stock markets.

  • Tokyo funds projects

    Tokyo is planning to extend two concessionary loans worth a combined total of up to Y20,199 million ($169 million), to Baghdad for the upgrade of Basra refinery and the rehabilitation of the Khor al-Zubair fertiliser plant. The repayment period is 40 years with a 10-year grace period and an interest rate of 0.75 per cent. A team of Toyo Engineering Corporation and Mitsui & Company , both of Japan, are working on the front-end engineering and design (FEED) contract at the refinery (MEED 12:5:0

  • Total chief charged

    Christophe de Margerie, president of exploration and production of France's Total and due to take over as chief executive officer early next year, has been charged by the French authorities with aiding and abetting corruption of foreign officials and misuse of company property in relation to the UN oil-for-food programme for Iraq during the Saddam Hussein regime. De Margerie was in charge of the company's Middle East activities from 1995-99. (MEED 4:11:05).

  • Tough sanctions needed on Darfur, report says

    International diplomacy has failed to resolve the Darfur crisis and tough measures against the Sudanese government must now be adopted, according to an International Crisis Group (ICG) report published on 12 October. 'Patient diplomacy and trust in Khartoum's good faith has been a patent failure,' the report says. 'The international community has little choice but to pursue an action plan based primarily on economic, legal and more limited military measures.'Sanctions shou

  • Treatment plant nears

    Work is due to begin in November on the construction at Marrakech of the kingdom's largest urban wastewater treatment plant and the first to be energy self-sufficient. Degremont , a subsidiary of France's Suez Environnement , was awarded the design-build-operate (DBO) contract in 2005 by local water and electricity authority Regie Autonome de Distribution de l'Eau et de l'Electricite de Marrakech (Radeema).

  • Tripoli embarks on airport upgrades

    Tripoli is embarking on a $1,000 million programme to upgrade the country's crumbling civil aviation infrastructure. Prime Minister Baghdadi al-Mahmudi kick-started the programme in mid-October when he announced a $450 million project to upgrade and expand Tripoli International Airport, the country's biggest facility. Projects to modernise Mitiga airport, also in Tripoli, and the Sebha hub are also understood to be under development.

  • Tripoli reviews Azzawiya refinery upgrade

    Azzawiya Refinery Company (ARC) has appointed Canada's Winfield Resources to carry out a detailed review of the project to modernise and expand the country's second biggest refinery at Azzawiya. The review comes after a poor response from contractors to the international tender for the engineering, procurement and construction (EPC) contract to upgrade the 120,000-barrel-a-day facility (MEED 1:9:06).

  • TUNISIA

    Expressions of interest no 91/2006. Project no P064836. Development of a prospective plan for the supply of drinking water in urban areas.

  • TUNISIA

    Tender no 01/2006. Project no P048825. Conception, implementation, delivery and installation of a national cultural identity as part of a cultural heritage management project. Bid bond is TD 10,000.

  • Tunisia withdraws Qatar ambassador

    Tunisia's Foreign Ministry confirmed on 25 October that it has decided to close its embassy in Qatar in response to alleged hostile reports on the Doha-based news agency Al-Jazeera.The charges followed interviews aired on the station on 14 October and 21 October with Moncef Marzouki, founder of the banned Congress for the Republic Party, during which he made calls for civil resistance to the regime of Tunisian President Zine el-Abidine Ben Ali. The ministry stressed that t

  • Tunisia withdraws Qatar ambassador

    Tunisia's Foreign Ministry confirmed on 25 October that it has decided to close its embassy in Qatar in response to alleged hostile reports on the Doha-based news agency Al-Jazeera.The charges followed interviews aired on the station on 14 October and 21 October with Moncef Marzouki, founder of the banned Congress for the Republic Party, during which he made calls for civil resistance to the regime of Tunisian President Zine el-Abidine Ben Ali. T

  • UAE

    Tender no E24/2006. Carrying out 132-kV cabling works for the Al-Zawrah power station in Ajman.

  • UAE

    Tender no CE/416/2006. Supply of outdoor FGRP kiosks. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/398/2006. Supply, installation, testing and commissioning of a station transformer at E station, phase 1, in Jebel Ali. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/456/2006. Supply, installation, testing and commissioning of AVR relays and introduction of a parallel operation scheme on ICTS at G station in Mushrif and the Najma 400-kV substations. Bid bond is 5 per cent of tender price.

  • UK army chief calls for Iraq withdrawal

    UK army chief General Sir Richard Dannatt has called for troops to pull out of Iraq soon, saying their presence was aggravating the security situation in the country. Dannatt's comments were published in the UK Daily Mail newspaper on 13 October. 'We are in a Muslim country and Muslims' views of foreigners in their country are quite clear,' he said. 'As a foreigner you can be welcomed by being invited in a country, but we weren't invited certainly by those in Iraq at the t

  • UK prepares to advance on Amara

    UK troops are preparing to enter the southern Iraqi city of Amara, the UK Ministry of Defence said on 20 October. The troops will deploy if the Amara council requests their presence. Clashes between gunmen and police erupted in the city a day earlier. Iraq's Prime Minister Nouri al-Maliki sent an envoy to the city on 20 October. About 15 people have been killed and 91 wounded since fighting began after the disappearance of the brother of a Mehdi Army leader. Shia militias,

  • UN can support AU force, says Al-Bashir

    Sudanese President Al-Bashir has welcomed UN support for the weak African Union (AU) force in Darfur, state media said on 5 October. Foreign Affairs Minister Lam Akol told Reuters the assistance would be of a financial, logistical and technical nature. 'The issue is to strengthen the capacity of the AU to carry out the task of implementing the peace deal,' he said.Sudan has rejected a UN Security Council resolution which calls for the deployment of a 20,000-strong interna

  • UN decision is illegitimate, says Iran

    Iranian President Ahmadinejad on 20 October said any decisions taken by the UN Security Council will be considered illegitimate. Representatives from the UK, France and Germany are preparing a draft sanctions resolution which will be circulated in the Security Council within days.'The Security Council, in its current situation, lacks legitimacy,' Ahmadinejad said. 'Its decisions are illegitimate. You [the Council] want to be the judge, the prosecutor and the executor at th

  • UN decision is illegitimate, says Iran

    Iranian President Ahmadinejad on 20 October said any decisions taken by the UN Security Council will be considered illegitimate. Representatives from the UK, France and Germany are preparing a draft sanctions resolution which will be circulated in the Security Council within days.'The Security Council, in its current situation, lacks legitimacy,' Ahmadinejad said. 'Its decisions are illegitimate. You [the Council] want to be the judge, the prosec

  • UN preparing Iran sanctions resolution

    UN officials are drafting a resolution which will call for sanctions to be imposed on Tehran over its nuclear programme. Representatives from the UK, France and Germany are working on the document, which will be introduced to the Security Council within a week. Russia and China remain reluctant to impose sanctions. In a televised speech on 19 October, Iranian President Ahmadinejad reiterated the Islamic republic's right to produce nuclear power for civilian purposes. 'Our

  • UN preparing Iran sanctions resolution

    UN officials are drafting a resolution which will call for sanctions to be imposed on Tehran over its nuclear programme. Representatives from the UK, France and Germany are working on the document, which will be introduced to the Security Council within a week. Russia and China remain reluctant to impose sanctions. In a televised speech on 19 October, Iranian President Ahmadinejad reiterated the Islamic republic's right to produce nuclear power f

  • Unicorn rides into Amman

    Bahrain-based Unicorn Investment Bank has completed the acquisition of a 42 per cent stake in Jordan's Al-Tajamouat for Touristic Projects. Combined with a rights issue for existing shareholders, the deal will take Al-Tajamouat's capital to JD 40 million ($56.3 million) from JD 14 million ($19.7 million) and will provide capital for Al-Tajamouat's planned development of an estimated $100 million mall in the wealthy Abdoun district of Amman.

  • UNIFIL commander may opt for force

    The commander of the UN Interim Force in Lebanon (UNIFIL) General Alain Pellegrini on 20 October proposed the use of force to end Israeli violations of Lebanese airspace. 'If the diplomatic means should not be enough, maybe it could be considered other means,' he said.Pellegrini stressed that Israeli flights over Lebanese territory were a 'clear violation' of UN Security Council resolution 1701 which ended the 34-day war. He said the UN had sent anti-aircraft missiles to L

  • Unitel pays state its dues

    Local operator United Yemeni Telecommunications Company (Unitel) has settled its financial obligations relating to the acquisition of the country's fourth mobile licence, the Communications & Information Technology Ministry announced in early October.

  • Unitel pays state its dues

    Local operator United Yemeni Telecommunications Company (Unitel) has settled its financial obligations relating to the acquisition of the country's fourth mobile licence, the Communications & Information Technology Ministry announced in early October.All legal measures for the company to launch operations have also been finalised. Unitel was awarded the licence in late 2005 with a bid of $149 million.The deal was subsequently cancelled due to delayed payment. However, Sau

  • US boosts aid to Jordan

    The US on 4 October granted an additional $50 million in assistance to Jordan, bringing total aid this year to more than $500 million. US ambassador to Jordan David Hale said the cash would go towards financing major water, tourism and schools projects as well as reducing Amman's $8,400 million foreign debt. 'This is very a tangible result of America's commitment to our longstanding partnership with Jordan and its people,' Hale said. Following the invasion of Iraq in 2003,

  • US frees Al-Sadr aide

    The US military in Iraq on 18 October released a senior aide of the radical Shia cleric Moqtada al-Sadr. The move comes after the Iraqi government called for the release of Sheikh Mazin al-Saedi, who was detained a day earlier during a US raid on his house in Baghdad. 'He has been released at the request of the government of Iraq,' Lieutenant Colonel Christopher Garver, a spokesperson for the US military, told Reuters. Al-Sadr heads the Shia militias who form the Mehdi Army and controls

  • US fuels sectarian violence in Iraq, says Khamenei

    Iran's Supreme Leader Ayatollah Ali Khamenei has accused the US of encouraging sectarian strife in Iraq. 'Making Sunnis and Shias suspicious of one another is the policy of the Americans in Iraq,' he told worshippers at Friday prayers in Tehran.'Our Iraqi brothers need to stand united and beware that the enemy plans to turn people against the people,' Khamenei said. The US has accused Iran of backing Shia militias in Iraq in an effort to destabilise the country. Tehran de

  • US fuels sectarian violence in Iraq, says Khamenei

    Iran's Supreme Leader Ayatollah Ali Khamenei has accused the US of encouraging sectarian strife in Iraq. 'Making Sunnis and Shias suspicious of one another… is the policy of the Americans in Iraq,' he told worshippers at Friday prayers in Tehran.'Our Iraqi brothers need to stand united…and beware that the enemy plans to turn people against the people,' Khamenei said. The US has accused Iran of backing Shia militias in Iraq in an eff

  • US military deals near completion

    Washington is set to complete in the next month defence contracts in the Middle East worth up to $2,000 million. The US' Defence Security Cooperation Agency (DSCA), which oversees all foreign arms sales, has notified Congress of the possible sale of helicopters, reconnaissance and radio equipment to Iraq, Jordan and Saudi Arabia. Congress will now have one month to approve the sale. The latest round of deals came just over a month after the DSCA notified congress of more than $11,000 million

  • US military deals near completion

    Washington is set to complete in the next month defence contracts in the Middle East worth up to $2,000 million. The US' Defence Security Cooperation Agency (DSCA), which oversees all foreign arms sales, has notified Congress of the possible sale of helicopters, reconnaissance and radio equipment to Iraq, Jordan and Saudi Arabia. Congress will now have one month to approve the sale. The latest round of deals came just over a month after the DSCA notified congress of more than $11,000 million

  • US to hold naval exercise in Gulf

    The US is to hold an international naval exercise in the Gulf, media reports said on 13 October. The exercise is due to take place on 31 October. It is expected that UK, French, Kuwait and Bahraini vessels will practice intercepting ships carrying weapons of mass destruction. The US denies that the exercise is aimed at Iran. 'It's an effort to bring a lot of Gulf states together to demonstrate resolve and readiness to act against proliferation,' a US official said on 11 Oc

  • Venture clinches campus

    Athens-based Consolidated Contractors International Company (CCC) with its local joint venture (JV) partner Teyseer Contracting Company has received a letter of award for Carnegie Mellon's college of business and computer science at Education City, on the outskirts of Doha.

  • Venture clinches campus

    Athens-based Consolidated Contractors International Company (CCC) with its local joint venture (JV) partner Teyseer Contracting Company has received a letter of award for Carnegie Mellon's college of business and computer science at Education City, on the outskirts of Doha.The award, valued at QR 481 million ($132 million), is the latest to be made by Qatar Petroleum on behalf of the client, Qatar Foundation for Education, Science & Community Development (QF MEED 28:7:06).Th

  • Veridian bid powers Arcapita into Ireland

    The board of Northern Irish power company Viridian has recommended to shareholders an offer by Bahrain-based Arcapita to acquire 100 per cent of shares, in a deal worth some£2,050 million ($3,804 million) including debt. The acquisition is the bank's largest to date and its third venture into the UK utilities sector.Arcapita has offered£13.25 ($25.59) a share for the company, which comprises Northern Ireland Electric, Energia and Powerteam. Energia owns Huntsdown power station in souther

  • Veridian bid powers Arcapita into Ireland

    The board of Northern Irish power company Viridian has recommended to shareholders an offer by Bahrain-based Arcapita to acquire 100 per cent of shares, in a deal worth some£2,050 million ($3,804 million) including debt. The acquisition is the bank's largest to date and its third venture into the UK utilities sector.

  • WAGES:: Trading places

    A Dubai-based contractor shrugs his shoulders as he hangs up the phone. 'That's the fourth member of staff I have lost to a consultant or developer this month,' he says. 'Some of them have gone on to nearly double their salaries, so how can I stop them?'

  • Wanted: a new breed of business leader

    A new report by Dubai's Institute for Corporate Governance (Hawkamah) and the Washington-based Institute of International Finance (IIF) is a sobering read. According to its authors, GCC corporations on average attained no more than 50 per cent of the standard of corporate governance seen in advanced economies. The Gulf lags behind China and India. Only Oman and Abu Dhabi have so far introduced governance rules. The good news is that Bahrain, Saudi Arabia, Qatar and Kuwait have prepared codes tha

  • Wanted: a new breed of business leader

    A new report by Dubai's Institute for Corporate Governance (Hawkamah) and the Washington-based Institute of International Finance (IIF) is a sobering read. According to its authors, GCC corporations on average attained no more than 50 per cent of the standard of corporate governance seen in advanced economies. The Gulf lags behind China and India. Only Oman and Abu Dhabi have so far introduced governance rules. The good news is that Bahrain, Saudi Arabia, Qatar and Kuwait have prepared codes

  • Waste-to-energy plant on the cards

    Scoping studies are nearing completion on the kingdom's first waste-to-energy plant. The US' International Power Group (IPWG) is carrying out due diligence on Jizan in the far south to determine the plant's viability. If it proves feasible, the company says it expects to start construction of the facility by the end of the year. IPWG has a three-year renewable licence issued by the Presidency of Metrology & Environment (PME) to build and operate waste-to-energy plants in the kingdom.

  • Waste-to-energy plant on the cards

    Scoping studies are nearing completion on the kingdom’s first waste-to-energy plant.

  • Wastewater gets 15 bids

    Fifteen companies have submitted bids for the estimated Eur 18 million ($22.7 million) engineering, procurement and construction (EPC) phase 1 contract to build the 50,000-cubic-metre-a-day (cm/d) El-Attar wastewater treatment plant to serve Tunis. Technical and commercial bids were due by 26 October for the phase 2 contract to design, build, finance and operate a 62,500-cm/d wastewater facility on the same site. State water company Office National de l'Assainissement (ONAS) is the client.

  • Wataniya seeks funding

    BNP Paribas has been appointed sole mandated lead arranger on a $1,000 million revolving credit facility for the local Wataniya Telecom . The tenor is three years with a two-year optional extension.

  • Wataniya seeks funding

    BNP Paribas has been appointed sole mandated lead arranger on a $1,000 million revolving credit facility for the local Wataniya Telecom . The tenor is three years with a two-year optional extension.

  • West Delta irrigation begins

    Cairo will launch the country's first private irrigation project in November, with the release of prequalification documents for a $500 million design-build-operate (DBO) project for a new irrigation system in the West Nile Delta. The Water Resources & Irrigation Ministry expects to invite more than 80 companies to prequalify for the first phase of the programme, which involves the design, construction and operation of a water distribution system to carry water from the Nile to agricultural l

  • West Delta irrigation begins

    Cairo will launch the country's first private irrigation project in November, with the release of prequalification documents for a $500 million design-build-operate (DBO) project for a new irrigation system in the West Nile Delta. The Water Resources & Irrigation Ministry expects to invite more than 80 companies to prequalify for the first phase of the programme, which involves the design, construction and operation of a water distribution system to carry water from the Nile to agricultural land

  • West Delta irrigation project: Tapping the Nile

    Egypt needs water, now more than ever. A ballooning population is putting increasing pressure on resources, and a concerted strategy is needed to avoid serious water scarcity.

  • West Delta irrigation project: Tapping the Nile

    Egypt needs water, now more than ever. A ballooning population is putting increasing pressure on resources, and a concerted strategy is needed to avoid serious water scarcity.

  • Wharf dredging awarded

    The US' Great Lakes Dredge & Dock has been awarded the dredging contract on the Bahrain Investment Wharf (BIW) project, being developed by the local Al-Khaleej Development Company (Tameer) at Hidd. The 11-month contract calls for the dredging of about 6.5 million cubic metres of material. Bids are under evaluation by Tameer for the infrastructure contract on the estimated $1,600 million BIW project (MEED 8:9:06).

  • Wharf dredging awarded

    The US' Great Lakes Dredge & Dock has been awarded the dredging contract on the Bahrain Investment Wharf (BIW) project, being developed by the local Al-Khaleej Development Company (Tameer) at Hidd. The 11-month contract calls for the dredging of about 6.5 million cubic metres of material. Bids are under evaluation by Tameer for the infrastructure contract on the estimated $1,600 million BIW project (MEED 8:9:06).

  • Wood Group wins Aramco deals

    Saudi Aramco has awarded two five-year contracts to the UK's Wood Group for the supply of valves and wellhead equipment for its drilling operations. Wood plans to set up a manufacturing centre with the local Al-Hugayet Trading Establishment in Dammam in 2007 to serve its contracts. Investment of more than $15 million is planned.

  • World-scale zinc project gets under way

    A joint venture (JV) led by Terramin Australia is to invest an estimated $150 million to develop a world-scale zinc mine on the Oued Amizour concession in the northeast.

  • World-scale zinc project gets under way

    A joint venture (JV) led by Terramin Australia is to invest an estimated $150 million to develop a world-scale zinc mine on the Oued Amizour concession in the northeast.

  • YEMEN

    Tender no MSI/GOU/KFW-YEMEN-CSM. Contract no BMZ-2004-65-740. Carrying out the social marketing of 180,000 Copper T380-A intrauterine contraceptive devices through the private sector as part of a reproductive health project. Financed by Germany's Kreditanstalt fuer Wiederaufbau.

  • YEMEN

    Tender no MSI/GOU/KFW-YEMEN-CSM. Contract no BMZ-2004-65-740. Carrying out the social marketing of 540,000 vials of depot medroxy progesterone through the private sector as part of a reproductive health project. Financed by Germany's Kreditanstalt fuer Wiederaufbau.

  • YEMEN

    Expressions of interest. Project no P086886. Provision of consultancy services for a fisheries resources management and conservation project. The component one activity for a programme co-ordinator assignment for the sector management and restructuring of the ministry will create a restructured, decentralised ministry, through the newly created Fisheries Authorities at governorate level. Financed has been sought from the International Development Association.

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