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MEED
September 2006

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  • $13bn trans-Saharan pipeline gets go-ahead

    Algiers and Abuja have given the green light to a $13,000 million pipeline project to transport Nigerian gas across the Sahara to Europe. Approval for the 4,188-kilometre-long pipeline, which is being developed by a consortium of Algerian state energy company Sonatrach and Nigerian National Petroleum Corporation (NNPC), was announced in Algiers in late September following the completion of a feasibility study by an international team led by the UK's Penspen (MEED 28:7:06).

  • AAC surges ahead

    The Jubail ethylene amines complex, planned by the US/local Arabian Amines Company (AAC), is moving ahead, with selections made for the overall project management consultancy (PMC) and inside and outside battery limits front-end engineering and design (FEED) contracts (MEED 14:4:06).

  • AAC surges ahead

    The Jubail ethylene amines complex, planned by the US/local Arabian Amines Company (AAC), is moving ahead, with selections made for the overall project management consultancy (PMC) and inside and outside battery limits front-end engineering and design (FEED) contracts (MEED 14:4:06).The US Jacobs Engineering has been awarded the PMC contract covering the development of the complex. As part of the two-year contract, Jacobs will also carry out FEED work on the outside battery limits coveri

  • Abacorp wins corrosion deal

    Al-Khobar-based Abacorp, a subsidiary of Saudi Arabia's Rawabi Holding Company, has signed the KD 3.4 million ($11.7 million) contract to provide specialised cathodic protection services to Kuwait Oil Company (KOC). Abacorp was low bidder for the work earlier in the year (MEED 30:6:06).

  • Abbas sends envoy to talk to Hamas

    Palestinian Authority president Mahmoud Abbas on 26 September ordered an envoy to hold talks with Hamas officials in Gaza over the formation of a national unity government. Rawhi Fattouh, a senior member of Abbas' Fatah faction will aim to reach an agreement with Prime Minister Ismail Haniya. Negotiations were suspended after Hamas reneged on an agreement on the political platform for the new government. The key sticking point remains the recogni

  • Abbas sends envoy to talk to Hamas

    Palestinian Authority president Mahmoud Abbas on 26 September ordered an envoy to hold talks with Hamas officials in Gaza over the formation of a national unity government. Rawhi Fattouh, a senior member of Abbas' Fatah faction will aim to reach an agreement with Prime Minister Ismail Haniya. Negotiations were suspended after Hamas reneged on an agreement on the political platform for the new government. The key sticking point remains the recognition of Israel. However, Ha

  • Abbas-Israel talks acceptable, says Hamas

    Talks between Palestinian Authority president Mahmoud Abbas and Israel are acceptable, Hamas says. 'We have no problem in this government that there will be negotiations with Israel, Ghazi Hamad spokesperson for the current Hamas-led government told Israel's Army Radio on 12 September. 'We have said Abu Mazen can go the political route.' According to Hamad, a unity government could be in place in two weeks.Hamas has repeatedly said that any agreement negotiated by Abbas mu

  • Abbas-Israel talks acceptable, says Hamas

    Talks between Palestinian Authority president Mahmoud Abbas and Israel are acceptable, Hamas says. 'We have no problem in this government that there will be negotiations with Israel, Ghazi Hamad spokesperson for the current Hamas-led government told Israel's Army Radio on 12 September. 'We have said Abu Mazen can go the political route.' According to Hamad, a unity government could be in place in two weeks.Hamas has repeatedly said that any agree

  • ABC and SCB appointed for AREF financing

    ABC Islamic Bank and Standard Chartered Bank (SCB) have been appointed as joint bookrunners for a $100 million revolving murabaha financing facility for Kuwait's AREF Investment Group. The three-year financing carries a margin of 150 basis points and will be used for general corporate purposes.

  • ABG prepares for DIFX, Bahrain listings

    Albaraka Banking Group (ABG) will list shares on both the Dubai International Financial Exchange (DIFX) and the Bahrain Stock Exchange in early September. The shares will be the first of a regional company and the first sharia-compliant equities to list on the new Dubai bourse, which opened in 2005. ABG will be the sixth equity listing on the DIFX, where trading volumes remain low.

  • ABU DHABI OIL & GAS: Calling on reserves

    The UAE has proven gas reserves of 213 trillion cubic feet, nearly 90 per cent of which are in Abu Dhabi emirate. But oil has been the mainstay of the activities of Abu Dhabi National Oil Company (ADNOC) for the past two decades.

  • Abu Dhabi receives three bids for Saadiyat highway

    The Municipalities & Agriculture Department has received bids from three firms for the consultancy contract on the proposed highway linking Saadiyat island and Abu Dhabi International Airport. The contract for the 25-kilometre highway was retendered in August after only two firms submitted bids for the original tender.The bidders are Denmarks COWI, UK-based Hi-Point Rendell, and De Leuw Cather International, part of US-based Parsons International. The tender is structured as a competition

  • Abyaar enters the Dubai real estate scene

    Abyaar Real Estate Development, a joint venture of Aayan Leasing & Investment Company and Al-Rashdan Group, both Kuwaiti, has announced plans to develop AED 5,100 million ($1,400 million) of real estate over the coming year. The company has already begun development on two serviced apartment projects in Dubai Marina with a combined investment of AED 550 million ($150 million). The local Modern Executive Systems Contracting is working on the 20-storey Pier 24 project. The local office of KEO I

  • Abyaar enters the Dubai real estate scene

    Abyaar Real Estate Development, a joint venture of Aayan Leasing & Investment Company and Al-Rashdan Group, both Kuwaiti, has announced plans to develop AED 5,100 million ($1,400 million) of real estate over the coming year. The company has already begun development on two serviced apartment projects in Dubai Marina with a combined investment of AED 550 million ($150 million). The local Modern Executive Systems Contracting is working on the 20-storey Pier 24 project. The local office of KEO Inte

  • ADB approves highway funding

    The African Development Bank (ADB) approved in late July a $152 million loan to Autoroutes du Maroc to part-finance the construction of the 233-kilometre motorway linking Marrakech with the southern coastal town of Agadir. ADB will finance the 35-kilometre Imintanout-Chichaoua section along with toll facilities and security works along the entire motorway. The estimated cost of the project, which forms part of the country's national and regional infrastructure development plan, is $868 million (

  • Adco books Halliburton for special services

    US-based Halliburton KBR has announced the award of oil field service contracts aimed at increasing the overall performance of onshore fields in Abu Dhabi emirate. Worth more than $70 million, the three-year orders were placed by Abu Dhabi Company for Onshore Oil Operations (Adco). They will cover cementing and stimulation services and provide solutions for exploration and production activities. Adco operates five major fields in the emirate Asab, Bu Hasa, Bab, Shah and Sahil with a total prod

  • Adco seeks to lock in PMC capacity

    Abu Dhabi Company for Onshore Oil Operations (Adco) has invited companies to express interest by 14 September for an overall project management consultancy (PMC) services contract covering its phase 1 development programme. The projects are part of Adcos plans to increase production capacity to 1.8 million barrels a day (b/d) by 2009/10, from 1.4 million b/d today.

  • Addax gets on to TV

    Addax Investment Bank launched in mid-September a wholly-owned subsidiary to produce television series and films. The company, Addax Media, has an initial capital of $15 million, which it plans to raise to $100 million through the expansion of its investor base. 'We looked at the economics of the TV and film industry in the Middle East and saw an opportunity to service channels requirements [for programming],' says Addax board member Yaser Moustafa. 'The number of channels in the region has almo

  • ADWEA revs up for F2 project

    Abu Dhabi Water & Electricity Authority (ADWEA) has launched its seventh independent water and power project (IWPP), inviting developers to express their interest in bidding by 15 October for the Fujairah 2 (F2) project. F2 will be the largest grassroots IWPP so far in the ADWEA programme, involving the construction of a 2,000-MW and a 100 million-gallon-a-day cogeneration plant. The plant will be located next to the Fujairah 1 IWPP, for which Singapores SembCorp Utilities was selected as foreig

  • ADWEA revs up for F2 project

    Abu Dhabi Water & Electricity Authority (ADWEA) has launched its seventh independent water and power project (IWPP), inviting developers to express their interest in bidding by 15 October for the Fujairah 2 (F2) project. F2 will be the largest grassroots IWPP so far in the ADWEA programme, involving the construction of a 2,000-MW and a 100 million-gallon-a-day cogeneration plant. The plant will be located next to the Fujairah 1 IWPP, for which Singapore's SembCorp Utilities was selected as fo

  • Ahmadiah in line for Mall of Kuwait

    The local Ahmadiah Contracting & Trading Company has entered into direct negotiations with the local Tamdeen Shopping Centre Development Company (TSCD) for the main construction package on its Mall of Kuwait project. Signing of the estimated $300 million-350 million contract is due soon (MEED 17:6:05).

  • Ahmadiah in line for Mall of Kuwait

    The local Ahmadiah Contracting & Trading Company has entered into direct negotiations with the local Tamdeen Shopping Centre Development Company (TSCD) for the main construction package on its Mall of Kuwait project. Signing of the estimated $300 million-350 million contract is due soon (MEED 17:6:05).

  • AIG moves in at DIFC

    Insurance and financial services firm American International Group (AIG) has set up operations in the Dubai International Financial Centre (DIFC). AIG MEMSA will be the company's headquarters for the Middle East, Mediterranean and South Asia, from which it will offer general insurance services focusing on property and casualty insurance. It will service international corporate clients from the DIFC. AIG plans to boost its consumer business and expand its product offering, possibly including t

  • AIG moves in at DIFC

    Insurance and financial services firm American International Group (AIG) has set up operations in the Dubai International Financial Centre (DIFC). AIG MEMSA will be the companys headquarters for the Middle East, Mediterranean and South Asia, from which it will offer general insurance services focusing on property and casualty insurance. It will service international corporate clients from the DIFC. AIG plans to boost its consumer business and expand its product offering, possibly including takaf

  • Air navigation centre contracts awarded

    The General Civil Aviation Authority (GCAA) has awarded three contracts totalling AED 181 million ($49 million) for a new air navigation services centre. Known as the Sheikh Zayed Centre, the facility will be located about two kilometres west of Abu Dhabi International Airport in Al-Raha and is expected to start operations in November 2007. The first contract, worth AED 100 million ($27 million) has been awarded to Greeces Athena. It involves the construction of an area control centre building,

  • Air navigation centre contracts awarded

    The General Civil Aviation Authority (GCAA) has awarded three contracts totalling AED 181 million ($49 million) for a new air navigation services centre. Known as the Sheikh Zayed Centre, the facility will be located about two kilometres west of Abu Dhabi International Airport in Al-Raha and is expected to start operations in November 2007. The first contract, worth AED 100 million ($27 million) has been awarded to Greece's Athena. It involves the construction of an area control centre buildi

  • AIR PRODUCTS: Not just a lot of hot air

    As Air Products awaits news about its bid for $800 million-1,000 million worth of subcontracting work on a major liquefied natural gas (LNG) train building programme at Ras Laffan in Qatar, the US company may reflect on how far it has come in its 66-year history.

  • Ajman waste rated

    Standard & Poors has assigned an AAA long-term guaranteed debt rating and a BBB long-term underlying debt rating to the Ajman Sewerage Company (ASC) $100 million senior secured bank loan, due in 2026, with a stable outlook. The debt has been assigned a recovery rating of 3 on the assessment that 50-80 per cent of the principal is recoverable in the case of a default. ASC is using the loan to fund the construction of a treatment plant and sewerage system in Ajman that began in 2002 and stopped in

  • Aker wins Hassi Messaoud process work

    Oslo-based Aker Kvaerner announced on 29 August that it had been awarded the process equipment package on the Hassi Messaoud oil field development, 650 kilometres southwest of Algiers. The project, which comprises crude oil degassing and desalination and the upgrade of processing and control facilities, is part of a major upgrade programme by the client, state energy company Sonatrach. The scheme aims to increase oil production on the field to 700,000-750,000 barrels a day (b/d) in 2010-12 from

  • ALDAR opens central market to bidders

    Local real estate developer ALDAR Properties has invited about five prequalified groups to bid by early November for the main construction contract on the redevelopment of Abu Dhabis central market.

  • Al-Ghurair plans second phase for ICAD steel plant

    Al-Ghurair Iron & Steel (AGIS), part of Dubai-based Majid Saif al-Ghurair Group, is planning to add a second phase to its proposed steel plant at Industrial City Abu Dhabi 1 in Musaffah. The facility will be built on the companys 100,000-square-metre site close to the Emirates Iron & Steel complex (MEED 12:5:06).Phase 2 is scheduled to start production in the first quarter of 2009 and will include a 500,000-tonne-a-year (t/y) pickling line, a 500,000-t/y cold rolling mill, a 200,000-t/y

  • Algiers and Moscow close ranks

    State energy company Sonatrach has signed memorandums of understanding (MoUs) with Gazprom and Lukoil, both of Russia.

  • Algiers approves Credit Populaire privatisation

    Algiers has agreed to the first privatisation of a state-owned bank. Approval was granted in mid-September for the sale of a 51 per cent stake in Credit Populaire dAlgerie (CPA), the countrys third largest bank. The decision follows the submission of recommendations by financial adviser Rothschild earlier in the year. The sale is expected to raise up to $1,500 million (MEED 28:7:06).

  • Algiers approves Credit Populaire privatisation

    Algiers has agreed to the first privatisation of a state-owned bank. Approval was granted in mid-September for the sale of a 51 per cent stake in Credit Populaire d'Algerie (CPA), the country's third largest bank. The decision follows the submission of recommendations by financial adviser Rothschild earlier in the year. The sale is expected to raise up to $1,500 million (MEED 28:7:06).

  • Algiers completes repayment of Paris Club debt

    Algiers on 27 August completed the repayment of its debts to the 19-member Paris Club with a $387 million payment to Germany. The move follows agreements signed in the first half of August for the early settling of the country-+s debts to Japan and Italy. Algiers has paid off a total of more than $7,000 million in debt to 17 Paris Club creditors since signing an agreement with the organisation in May.According to IMF chief economist Abderahim Bessaha, the move paves the way for Algeria to ent

  • Algiers completes repayment of Paris Club debt

    Algiers on 27 August completed the repayment of its debts to the 19-member Paris Club with a $387 million payment to Germany. The move follows agreements signed in the first half of August for the early settling of the country's debts to Japan and Italy. Algiers has paid off a total of more than $7,000 million in debt to 17 Paris Club creditors since signing an agreement with the organisation in May.According to IMF chief economist Abderahim Bessaha, the move paves the way for Algeria to ent

  • Algiers set to boost supply

    Government plans to invest $2,500 million in power generation from 2005-09 continue to take shape, with tenders issued for two major new power plants and plans for two further tenders next year.

  • Algiers set to boost supply

    Government plans to invest $2,500 million in power generation from 2005-09 continue to take shape, with tenders issued for two major new power plants and plans for two further tenders next year.New combined cycle facilities at Kouied Edraouch and Terga will boost national output by more than 10 per cent, while planned gas-powered facilities in Annaba and either Tiaret or Oran will each produce a further 200 MW. The client is state electricity company Sonelgaz.Bids are due to be s

  • Algiers sets out alternative energy stall

    Algiers is moving ahead with a $1,000 million programme to install 1,500 MW of alternative energy capacity by 2015, entailing a total investment of more than $1,000 million. The planned new capacity will account for 10 per cent of its total energy mix (MEED 10:3:06).

  • Algiers sets out alternative energy stall

    Algiers is moving ahead with a $1,000 million programme to install 1,500 MW of alternative energy capacity by 2015, entailing a total investment of more than $1,000 million. The planned new capacity will account for 10 per cent of its total energy mix (MEED 10:3:06).

  • Algiers upgrades ageing refineries

    Naftec, the refining arm of state energy company Sonatrach, has issued tenders for contracts worth an estimated $300 million-350 million for the upgrade of its ageing refineries at Skikda and Arzew.

  • Al-Habtoor - M&R land Etihad terminal

    The local/South African joint venture of Al-Habtoor Engineering Enterprises and Murray & Roberts Contractors (Middle East) has received a letter of award for the Etihad Airways terminal package on the Abu Dhabi airport expansion project. The award, valued at about $220 million, came three months after five groups submitted design and build bids. The Supervision Committee for the Expansion of the Abu Dhabi International Airport (Scadia), which is handling the project, has also invited expressions

  • Allies plan refinery

    The Petroleum & Mineral Resources Ministry is in negotiations with National Iranian Oil Company International and Petroleos de Venezuela for a planned grassroots 150,000-barrel-a-day (b/d) refinery at Deir al-Zor, in the east. 'We are still in the early stages of negotiations but we have signed a memorandum of understanding [MoU] to look at setting up a joint venture company,' deputy minister Hassan Zeinab told MEED on 20 September.

  • Almajdouie and De Rijke form new JV

    The local Almajdouie Group and the Netherlands De Rijke have formed a joint venture (JV) called Almajdouie De Rijke Logistics. The new company will focus on providing integrated end-to-end supply chain services exclusively to the regional polymer industry. 'We are at the eve of major developments in the polymer industry and the joint venture wants to be among the pioneers to deliver sustainable supply chain solutions to the petrochemical producers,' says SI Mustafa, managing director of the new

  • Al-Malik rises in aerospace

    Dubai Aerospace Enterprise (DAE) has appointed Rashid al-Malik as deputy chief executive officer and chief corporate development officer, responsible for overseeing mergers and acquisitions and identifying strategic partnerships. Al-Malik was previously project director at DAE (MEED 4:8:06).

  • Al-Naboodah to carry out Business Bay infrastructure

    The local Al-Naboodah Engineering Services has been awarded the AED 800 million ($218 million) infrastructure contract at Business Bay.

  • Al-Naboodah to carry out Business Bay infrastructure

    The local Al-Naboodah Engineering Services has been awarded the AED 800 million ($218 million) infrastructure contract at Business Bay.The contract is one of the largest for infrastructure ever awarded in Dubai.The scope of works includes phases 1 and 2 of Business Bay and involves construction of internal roads and bridges and the installation of services between Sheikh Zayed road and Doha road.The first phase of the creek extension, the infrastructure and the first crop

  • Al-Qaeda threatens to target France

    Al-Qaeda's second in command, Ayman al-Zawahiri, has said an Algerian Islamist group has joined the global terrorist network and called for the GSPC (the Salafist Group for Preaching and Combat) to launch attacks against France. Al-Zawahiri was speaking in a video aired on the fifth anniversary of the 11 September terrorist attacks on the US. 'Osama bin Laden has told me to announce to Muslims that the GSPC has joined al-Qaeda,' he said according to a transcript of the footage given by t

  • Al-Qaeda threatens to target France

    Al-Qaeda's second in command, Ayman al-Zawahiri, has said an Algerian Islamist group has joined the global terrorist network and called for the GSPC (the Salafist Group for Preaching and Combat) to launch attacks against France. Al-Zawahiri was speaking in a video aired on the fifth anniversary of the 11 September terrorist attacks on the US. 'Osama bin Laden has told me to announce to Muslims that the GSPC has joined al-Qaeda,' he said according to a transcript of the footage

  • Al-Qaeda warns of attacks

    Al-Qaeda's second in command Ayman al-Zawahri on 11 September warned that the Gulf states and Israel would be the target of the group's next attacks. He was speaking on the fifth anniversary of the 2001 attacks on the US. Addressing western leaders, he said: 'I tell them, do not bother yourselves with defending your forces in Iraq and Afghanistan these forces are doomed to fail.''You have to bolster your defences in two areas the first is in the Gulf, from

  • Al-Qaeda warns of attacks

    Al-Qaeda's second in command Ayman al-Zawahri on 11 September warned that the Gulf states and Israel would be the target of the group's next attacks. He was speaking on the fifth anniversary of the 2001 attacks on the US. Addressing western leaders, he said: 'I tell them, do not bother yourselves with defending your forces in Iraq and Afghanistan these forces are doomed to fail.''You have to bolster your defences i

  • Al-Rajhi signs desal deal with Umm al-Qaiwain

    The government of Umm al-Qaiwain (UAQ) and Saudi Arabia's Al-Rajhi Group have established a new company to specialise in producing, delivering and distributing water throughout Umm al-Qaiwain and other emirates.

  • Al-Rajhi signs desal deal with Umm al-Qaiwain

    The government of Umm al-Qaiwain (UAQ) and Saudi Arabias Al-Rajhi Group have established a new company to specialise in producing, delivering and distributing water throughout Umm al-Qaiwain and other emirates.The company, known as Imdad, also plans to export desalinated water outside the emirate and will invest about AED 2,000 million ($544 million) in projects.The operations are expected to produce electricity to support the development of major projects in Umm al-Qaiwain i

  • Al-Salmeen picked for university infrastructure

    The local Al-Salmeen Group has been awarded the estimated AED 64 million ($17 million) first phase infrastructure contract for the new UAE University campus in Al-Ain. The 15-month contract involves the construction of roads and a 600-metre-long bridge that will link Khalifa bin Zayed street and the proposed campus. Split into four phases, the infrastructure costs for the development total AED 300 million ($82 million). Subsequent phases will be issued to tender at a later stage. Al-Ain Munic

  • Al-Zour list out

    State refinery operator Kuwait National Petroleum Company (KNPC) has issued the final bidders list for its planned 615,000-barrel-a-day (b/d) new refinery project (NRP) at Al-Zour. The list outlines the joint ventures (JVs) that have been formed for each of the four main process packages on the estimated $6,300 million scheme (MEED 14:4:06).For the estimated $2,000 million-2,400 million process-1 contract covering the installation of the three 205,000-b/d crude distillation units and

  • Al-Zour list out

    State refinery operator Kuwait National Petroleum Company (KNPC) has issued the final bidders' list for its planned 615,000-barrel-a-day (b/d) new refinery project (NRP) at Al-Zour. The list outlines the joint ventures (JVs) that have been formed for each of the four main process packages on the estimated $6,300 million scheme (MEED 14:4:06).

  • Americans acquire textile units

    The US West Point Home has acquired three of the units of the local Manama Textile Mills (MTM) and has announced plans to double turnover and production. Earnings will be increased to $200 million from about $100 million, while output will rise to an annual 60 million linear yards of material from 30 million, the company announced in mid-September. A new 18,000-square-metre plant will be constructed adjacent to the existing units at Askar. MTM will continue to own its fourth unit at Sitra.

  • Amman bomber gets death penalty

    A failed suicide bomber implicated in the Amman hotel attacks was sentenced to death by hanging by a Jordanian court on 21 September. Sajida al-Rishawi, an Iraqi woman, and six other defendants who were not present at the trial were found guilty 'beyond doubt' for the November 2005 attacks which killed 60 people. Jordanian officials said Al-Rishawi was the sister of Samir Mubarak Atrous al-Rishawi, a fomer aide to Al-Qaeda in Iraq leader Abu Musab al-Zarqawi, who was killed by US forces

  • Amman bomber gets death penalty

    A failed suicide bomber implicated in the Amman hotel attacks was sentenced to death by hanging by a Jordanian court on 21 September. Sajida al-Rishawi, an Iraqi woman, and six other defendants who were not present at the trial were found guilty 'beyond doubt' for the November 2005 attacks which killed 60 people. Jordanian officials said Al-Rishawi was the sister of Samir Mubarak Atrous al-Rishawi, a fomer aide to Al-Qaeda in Iraq leader Abu Musab al-Zarqawi, who was killed by

  • Amman offers Sirhan again

    The Natural Resources Authority (NRA) has launched an oil and gas licensing bid round for the North and South Sirhan blocks, inviting interested companies to submit proposals by 5 November.The blocks cover a total area of 11,610 square kilometres in the east and will be awarded on the basis of 25-year exploration and production sharing agreements (EPSAs). The new bid round follows the cancellation in early February of a memorandum of understanding (MoU) for both blocks signed with the NR

  • Amman to receive fiscal reform assistance

    The US' BearingPoint has been awarded a contract by the US Agency for International Development (USAID) to provide technical assistance to the Finance Ministry in the area of fiscal reform. Under the three-year, $14 million contract, BearingPoint will assist the government in designing and co-ordinating tax policy, establishing modern administrative functions, designing and implementing a unified government accounting system and putting in place a results-oriented budget process while also pr

  • Ammonia plant studied

    Frances Beicip Franlab will submit in late September pre-feasibility studies to Groupement Chimique Tunisienne (GCT) for the development of a 2,000-tonne-a-day ammonia plant. The plant will also produce between 1,000-3,000 tonnes a day of urea, depending on market conditions. The location of the eventual plant has yet to be specified. The studies, which analysed technical aspects of the project as well as demand in the Mediterranean, began inlate August.

  • Ammonia plant studied

    France's Beicip Franlab will submit in late September pre-feasibility studies to Groupement Chimique Tunisienne (GCT) for the development of a 2,000-tonne-a-day ammonia plant. The plant will also produce between 1,000-3,000 tonnes a day of urea, depending on market conditions. The location of the eventual plant has yet to be specified. The studies, which analysed technical aspects of the project as well as demand in the Mediterranean, began inlate August.

  • Amoun eyes sale tie-up and investment arm

    The local Amoun Pharmaceuticals expects to sign in early October an agreement to sell a 93 per cent stake to the all-US consortium of Citigroup, Concord International and Capital International. Completion of the £E 2,600 million ($451 million) sale will follow within 60 days of the signing. The deal is set to be the largest private equity transaction in Egyptian history. The transaction will pave the way for the planned expansion of the existing Amoun Holding Company for Financial Investments (M

  • ANB extends cement finance

    Arab National Bank (ANB) has signed a SR 500 million ($133.3 million) Islamic financing facility with Northern Region Cement Company (NRCC). The tenor is three years, with an optional extension of two years for SR 250 million ($66.7 million) of the funds. ANB also has the exclusive right to manage NRCCs planned initial public offering (IPO), which will take place after completion of the firms greenfield cement plant at Arar near the Iraqi border. A team of the local Nesma & Partners Contracting

  • Anger continues despite papal apology

    An apology by Pope Benedict XVI on 17 September has failed to end anger among Muslims over comments he made in a speech days earlier. The Pope had referred to comments by the 14th century Byzantine Emperor Manuell II Palaeologus who said everything the Prophet Mohammed brought was evil 'such as his command to spread by the sword the faith he preached'.'I am deeply sorry for the reactions in some countries to a few passages of my address at the University of Regensburg, whi

  • Anger continues despite papal apology

    An apology by Pope Benedict XVI on 17 September has failed to end anger among Muslims over comments he made in a speech days earlier. The Pope had referred to comments by the 14th century Byzantine Emperor Manuell II Palaeologus who said everything the Prophet Mohammed brought was evil 'such as his command to spread by the sword the faith he preached'.'I am deeply sorry for the reactions in some countries to a few passages of my address at the Un

  • Annan calls for blockade to be lifted

    UN Secretary-General Kofi Annan called on Tel Aviv on 30 August to lift its seven-week-old blockade of Lebanon. Following talks with Israeli Prime Minister Ehud Olmert in Jerusalem, which focused on the deployment of UN troops in Lebanon, Annan also appealed for the unconditional release of Israeli soldiers held in Lebanon. Annan has also visited Lebanon as part of a regional tour to bolster the ceasefire between Israel and Hezbollah. Annan said he hoped Tel Aviv will with

  • Annan calls for blockade to be lifted

    UN Secretary-General Kofi Annan called on Tel Aviv on 30 August to lift its seven-week-old blockade of Lebanon. Following talks with Israeli Prime Minister Ehud Olmert in Jerusalem, which focused on the deployment of UN troops in Lebanon, Annan also appealed for the unconditional release of Israeli soldiers held in Lebanon. Annan has also visited Lebanon as part of a regional tour to bolster the ceasefire between Israel and Hezbollah. Annan said he hoped Tel Aviv will wit

  • Annan calls for blockade to be lifted

    UN Secretary-General Kofi Annan called on Tel Aviv on 30 August to lift its seven-week-old blockade of Lebanon. Following talks with Israeli Prime Minister Ehud Olmert in Jerusalem, which focused on the deployment of UN troops in Lebanon, Annan also appealed for the unconditional release of Israeli soldiers held in Lebanon. Annan has also visited Lebanon as part of a regional tour to bolster the ceasefire between Israel and Hezbollah. Annan said

  • Annan continues Middle East tour

    UN Secretary-General Kofi Annan on 31 August met Jordan's King Abdullah as part of a concerted effort to garner regional support for the ceasefire between Israel and Lebanese Hezbollah. Jordan had initially criticised Hezbollah for triggering the conflict with Israel, but King Abdullah later said the offensive had served to strengthen the appeal of the militant group among Arabs. Annan has said he is trying to expedite the deployment of international troops in southern Leb

  • Annan in Lebanon visit

    UN Secretary-General Kofi Annan arrived in southern Lebanon on 29 August to view the damage caused by Israeli air strikes. Annan arrived in Naqoura, the base of the 2,000-strong UN Interim Force in Lebanon (UNIFIL). Under UN resolution 1701 that established a ceasefire, some 13,000 international troops will join the force. 'Without the full implementation of resolution 1701 I fear the risk is great for a renewal of hostilities,' Annan said. EU member states have pledged some 7,000 troops

  • Annan in Lebanon visit

    UN Secretary-General Kofi Annan arrived in southern Lebanon on 29 August to view the damage caused by Israeli air strikes. Annan arrived in Naqoura, the base of the 2,000-strong UN Interim Force in Lebanon (UNIFIL). Under UN resolution 1701 that established a ceasefire, some 13,000 international troops will join the force. 'Without the full implementation of resolution 1701 I fear the risk is great for a renewal of hostilities,' Annan said. EU member states have pledged some 7,000 troops to

  • APPC prepares offering

    The local Advanced Polypropylene Company (APPC) is planning to stage an initial public offering (IPO) of 38 per cent of its shares after Ramadan. The company is finalising its prospectus and Gulf International Bank is advising on the SR 1,400 million ($373 million) offering. APPC is the project company for a 450,000-tonne-a-year integrated propane dehydrogenation (PDH)/polypropylene (PP) facility under construction at Jubail (MEED 3:3:06).

  • APPC prepares offering

    The local Advanced Polypropylene Company (APPC) is planning to stage an initial public offering (IPO) of 38 per cent of its shares after Ramadan. The company is finalising its prospectus and Gulf International Bank is advising on the SR 1,400 million ($373 million) offering. APPC is the project company for a 450,000-tonne-a-year integrated propane dehydrogenation (PDH)/polypropylene (PP) facility under construction at Jubail (MEED 3:3:06).

  • Aqaba plans major residential project

    Aqaba Development Corporation (ADC) has signed an agreement with Amman-based International Investment Arabian Group (GAI) to build a new JD 100 million ($142 million) mixed-use city near King Hussain International Airport.

  • Aqaba reveals sweet dreams

    Aqaba Development Corporation, the development arm of the Aqaba Special Economic Zone (ASEZ), has invited companies to submit technical and commercial proposals by 23 October for the build-operate-transfer (BOT) contract for a new sugar refinery on a long-term lease basis. Companies have until 31 August to collect the request for proposals (RFP).

  • Aqaba reveals sweet dreams

    Aqaba Development Corporation, the development arm of the Aqaba Special Economic Zone (ASEZ), has invited companies to submit technical and commercial proposals by 23 October for the build-operate-transfer (BOT) contract for a new sugar refinery on a long-term lease basis. Companies have until 31 August to collect the request for proposals (RFP).

  • Arab Bank seeks listings on UAE bourses

    Arab Bank is planning to list on the Dubai Financial Market and the Abu Dhabi Securities Market. 'We are still in the process of applying. There is no fixed date yet,' says an Arab Bank representative in Amman. The dual listing was approved by Abdul Hamid Shoman, chief executive officer and chairman, who has notified the Jordan Securities Commission of the banks intention. The bank, with capital of JD 365 million ($519 million), recorded net profits in the first quarter of $426.5 million, a 44.3

  • Arabtec sets sail at DMC

    The local Arabtec Construction has been awarded an estimated AED 140 million ($38 million) contract at Dubai Maritime City. The package involves the construction of staff accommodation, the control building and foundations for the 2.5 million-square-metre development's shiplift. The shiplift will be supplied by the German/Dutch Bosch Rexroth as a nominated subcontract to the quay wall package being executed by the joint venture of Van Oord Gulf of the Netherlands and the local/Belgian Bel Has

  • Aramco awards Khurais contracts

    Saudi Aramco signed on 20 September the two key lump-sum turnkey (LSTK) contracts on the Khurais crude increment programme. The signings followed contractor selections in early September. The larger of the contracts, worth an estimated $1,300 million, was awarded to Italys Snamprogetti. It covers the gas-oil separation plant (GOSP) package and will entail the construction of crude inlet facilities to process about 1.3 million barrels a day (b/d) of wet and sour crude. A joint venture of UK-based

  • Aramco signs off logistics deal

    Saudi Aramco has signed a 10-year contract with Exel Saudi Arabia to provide it with logistic services throughout the kingdom. Under the terms of the deal, Exel, a joint venture of Olayan Saudi Holding Company and Deutsche Post World Net Group, will create an integrated logistics service. The contract also includes the implementation of an online tracking system, the transportation of materials directly from ports, airports and suppliers to distribution centres in Dammam, Riyadh, Jeddah and Yanb

  • Arcapita plans venture capital fund

    Manama-based Arcapita will launch roadshows for its first venture capital fund among Gulf investors on 17 September. The sharia-compliant vehicle will focus on US investments in the IT, industrial and healthcare technology sectors.

  • ARCAPITA: Encircling the globe

    In a region teeming with newcomers, 10-year-old Islamic investment bank Arcapita almost merits veteran status. But age has brought little change in direction. The bank always envisaged gradually encircling the globe, investing first in private equity and real estate in the US, then in Europe, before returning to Asia and to the GCC itself. Recent real estate ventures in Bahrain, Dubai and Japan, and plans to open an office in Singapore by the end of the year to co-ordinate expansion into surr

  • ARCAPITA: Encircling the globe

    In a region teeming with newcomers, 10-year-old Islamic investment bank Arcapita almost merits veteran status. But age has brought little change in direction. The bank always envisaged gradually encircling the globe, investing first in private equity and real estate in the US, then in Europe, before returning to Asia and to the GCC itself. Recent real estate ventures in Bahrain, Dubai and Japan, and plans to open an office in Singapore by the end of the year to co-ordinate expansion into sur

  • Archirodon close to anchoring in Jubail

    Geneva-registered Archirodon Construction Overseas is the low bidder at SR 199 million ($53 million) for the construction of three new petrochemical berths at King Fahd Industrial port at Jubail Industrial City. Archirodon's bid is just over 10 per cent lower than the next-best offer of SR 219 million ($58 million) submitted by the local Huta Hegerfeld Saudia.

  • Archirodon close to anchoring in Jubail

    Geneva-registered Archirodon Construction Overseas is the low bidder at SR 199 million ($53 million) for the construction of three new petrochemical berths at King Fahd Industrial port at Jubail Industrial City. Archirodons bid is just over 10 per cent lower than the next-best offer of SR 219 million ($58 million) submitted by the local Huta Hegerfeld Saudia.

  • Arfa makes progress

    The local Arfa Iron & Steel Company is moving ahead on two of its steel expansion projects. It is expected to tender soon the contract to build a steel plant, and is evaluating bids for a direct reduction iron (DRI) plant. It also recently sold a third steel plant to the state. The three plants are all located in Yazd and Kerman provinces and will use iron ore from the Chadormaloo mine, also in Yazd (MEED 26:5:06).

  • Argent launches Lebanese recovery fund

    UK-based Argent Financial Group International, a subsidiary of US-based Argent Financial Group, launched on 5 September the $500 million Constans Lebanon Recovery Fund a private equity fund to target investment opportunities in the country.'The aim of the fund is to invest in long-term reconstruction prospects in Lebanon,' says Tara Armes, global marketing manager for Argent. 'An advisory board, including local financial institutions, is due to be appointed by the end of September.' The

  • Argent shines at hedging

    Argent Financial Group International, a subsidiary of the UK's Argent Financial Group, launched on 22 August the first hedge fund based in the Dubai International Financial Centre (DIFC). The Contans Crescent Investment Fund will target wholesale investors and will invest in listed equities across the Middle East and North Africa region, Turkey and Pakistan (MEED 31:3:06).

  • ArmorGroup wins bomb clearing work

    UK-based ArmorGroup International on Monday announced it had been awarded a $5.6 million contract to clear an area of southern Lebanon of unexploded landmines and bombs. The contract was awarded by the UAE. Earlier in September, the UN said at least 350,000 unexploded cluster bomblets remained in Lebanon after its 34-day war with Israel. Only 17,000 bomblets have been cleared so far.

  • Aromatic managers line up

    The first major tenders have been issued on the ethane cracker-cum-aromatics complex at Mesaieed, with international companies being invited to bid by 19 October for the project management consultancy (PMC) services and front-end engineering and design (FEED) packages. The release came nine months after South Koreas Honam Petrochemical Corporation signed a memorandum of understanding (MoU) with Qatar Petroleum (QP) for the estimated $2,600 million project (MEED 6:1:06).Companies invited

  • Arriyadh readies ministry building project

    Arriyadh Development Authority (ADA) is expected to issue tenders by year-end for the construction of a new headquarters building for the Water & Electricity Ministry in Riyadh. The project calls for the construction of a four-storey building with a built-up area of about 37,000 square metres and a 30,000-square-metre car park. A German/local team of Albert Speer & Partner and Imar Urban Consultants is the consultant.

  • Ascon secures Liberty

    The local ETA Ascon has been awarded the estimated AED 310 million ($85 million) main construction contract for Liberty House in Dubai International Financial Centre.The 34-month contract involves the construction of a 166-metre, 41-storey-high structure.The tower will consist of 10 floors of offices on the lower levels and 20 floors of apartments above. The building will also include six levels of car parking, a gymnasium, swimming pool, restaurants, shops and a health club.

  • Ascon secures Liberty

    The local ETA Ascon has been awarded the estimated AED 310 million ($85 million) main construction contract for Liberty House in Dubai International Financial Centre.

  • Ashghal awards two border contracts

    The Public Works Authority (Ashghal) has awarded two contracts totalling QR 180 million ($50 million) to the local HBK Contracting for a quarantine and truck inspection facility on the border with Saudi Arabia. The contracts involve the construction of two buildings with a total built-up area of 20,000 square metres and associated road and earthworks. The contract duration for the quarantine building is 18 months and the consultant is the local Consulting Engineering Group (CEG). The contract du

  • Ashghal launches prequals for next road round

    The Public Works Authority (Ashghal) has launched contractor prequalification for a raft of major highway projects to be implemented across the state over the next three years. The prequalification, which covers nine packages on the Doha expressway, two packages on the Lusail road and further work on the Dukhan highway, is open to local and international companies, which have been given until 20 September to submit documents.

  • Atsco bids low for controls work

    The local Almeer Technical Services Company (Atsco) is low bidder at KD 10.2 million ($37 million) for the five-year contract to maintain control systems at the Mina al-Ahmadi refinery, following the submission of bids on 12 September. Atsco's offer is just below the second-lowest bid of KD 11 million ($38 million) submitted by Kuwait Controls Company (KCC). Five other local contractors submitted bids. The client, Kuwait National Petroleum Company (KNPC), will take about three months evaluati

  • Atsco bids low for controls work

    The local Almeer Technical Services Company (Atsco) is low bidder at KD 10.2 million ($37 million) for the five-year contract to maintain control systems at the Mina al-Ahmadi refinery, following the submission of bids on 12 September. Atscos offer is just below the second-lowest bid of KD 11 million ($38 million) submitted by Kuwait Controls Company (KCC). Five other local contractors submitted bids. The client, Kuwait National Petroleum Company (KNPC), will take about three months evaluati

  • Attacks on Yemen oil refineries thwarted

    An attempted attack on two oil refineries has been foiled, Yemeni Interior Ministry officials said on 14 September. Four suicide bombers were killed by guards as they tried to drive explosives-packed vehicles into two oil facilities. The attackers targeted a refinery at Marib and a Canadian-Yemeni oil storage facility at Dubba Port in Hadramout province. The attacks are the first on oil installations since the French oil tanker Nimburg was bombed off the Yemeni coast in 20

  • Attacks on Yemen oil refineries thwarted

    An attempted attack on two oil refineries has been foiled, Yemeni Interior Ministry officials said on 14 September. Four suicide bombers were killed by guards as they tried to drive explosives-packed vehicles into two oil facilities. The attackers targeted a refinery at Marib and a Canadian-Yemeni oil storage facility at Dubba Port in Hadramout province. The attacks are the first on oil installations since the French oil tanker Nimburg was bombed

  • AUTOMATION: Part of the process

    Control systems are at the heart of every processing plant. And with multi-billion-dollar investment in oil and gas projects in the Middle East expected over the next five years, the services of technology providers are set to be in greater demand. UK-based Invensys, one of the leading providers of automation and process control systems in the region, estimates that it will invest $40 million-50 million in its regional operations in the next 18 months and will reel in $100 million in revenues on

  • Axens wins downstream strategy contract

    State energy company Sonatrach has awarded France's Axens, a subsidiary of the Institut Francais du Petrole, a 50-week contract to provide strategic planning services to the refining, petrochemicals and oil and gas distribution sectors. In 2004, Axens was awarded a 10-month contract to carry out a 15-year crude oil and condensate strategic optimisation study for the country's refining and distribution network (MEED 11:6:04).

  • Badr al-Islami seeks UAE buy

    Badr al-Islami, Mashreqbanks sharia-compliant finance subsidiary, is seeking to acquire a conventional bank in the UAE. The company has a paid-up capital of AED 500 million ($136 million) and will launch financial and investment banking services in October. Mashreqbank will open an Islamic window at the same time. The assets of the window will be transferred to Badr al-Islami once the new company has finalised the purchase and conversion of the conventional retail bank. Badr al-Islami plans to e

  • Badr al-Islami seeks UAE buy

    Badr al-Islami, Mashreqbank's sharia-compliant finance subsidiary, is seeking to acquire a conventional bank in the UAE. The company has a paid-up capital of AED 500 million ($136 million) and will launch financial and investment banking services in October. Mashreqbank will open an Islamic window at the same time. The assets of the window will be transferred to Badr al-Islami once the new company has finalised the purchase and conversion of the conventional retail bank. Badr al-Islami plans

  • Baghdad awards wireless licences

    The Communications & Media Commission (CMC) has awarded licences for fixed wireless local loop (WLL) services. The national and provincial licences will provide a comprehensive broadband internet service and aim to provide 92 per cent of the country with access to voice services and affordable advanced third-generation (3G) telecommunications within five years (MEED 27:1:06).

  • Baghdad bourse trades on

    As bourses around the region struggle to recover from a trio of negative forces - the ongoing correction, war in Lebanon and the summer lull - the Iraq Stock Exchange (ISX) has its own problems. 'The market is in a downturn,' says Walid Sharif, executive manager of the Iraqi Association of Securities Dealers. 'Stocks have reached a minimum value. Some companies are trading at their book value. It's ridiculous, but understandable at the moment.'

  • Baghdad bourse trades on

    As bourses around the region struggle to recover from a trio of negative forces the ongoing correction, war in Lebanon and the summer lull the Iraq Stock Exchange (ISX) has its own problems. 'The market is in a downturn,' says Walid Sharif, executive manager of the Iraqi Association of Securities Dealers. 'Stocks have reached a minimum value. Some companies are trading at their book value. Its ridiculous, but understandable at the moment.'

  • Bahrain Bay piling awarded

    The local Bahrain Foundation has been awarded the contracts to carry out piling work on both the Arcapita headquarters and the Four Seasons hotel projects in Bahrain Bay, a $1,500 million mixed-use complex being developed by Manama-based Arcapita on reclaimed land off the north coast of the capital. Prequalified contractors have been asked to submit prices by 24 September for the main construction contract on the estimated $100 million Arcapita headquarters, to be followed by bidding for the est

  • Bahraini woman to head UN General Assembly

    Sheikha Haya bint Rashid al-Khalifa assumed the position of president of the 61st UN General Assembly in New York on 12 September. 'As an Arab woman, Sheikha Haya shatters the myth that Arab women cannot break free of the vicious circle that binds them to a life of slavery and total subordination to men,' said Najib Friji, director of Bahrain's UN information centre. 'This honour is to the credit of Bahrain for adopting a domestic and international policy to elevate the status of women a

  • Bahraini woman to head UN General Assembly

    Shaikha Haya bint Rashid al-Khalifa assumed the position of president of the 61st UN General Assembly in New York on 12 September. 'As an Arab woman, Shaikha Haya shatters the myth that Arab women cannot break free of the vicious circle that binds them to a life of slavery and total subordination to men,' said Najib Friji, director of Bahrain's UN information centre. 'This honour is to the credit of Bahrain for adopting a domestic and international policy to elevate the status

  • Bahrainis take Delta majority stake

    A consortium led by Ahli United Bank (AUB) and including two of its group companies - Bank of Kuwait & the Middle East (BKME) and Ahli Bank of Qatar - announced on 21 August it had acquired an 89.3 per cent stake in Delta International Bank for £E 37 ($6.44) a share. The acquisition fits in with AUB's strategy of involvement in secondary markets such as Egypt as well as its primary markets in the GCC. At the end of 2005, Delta had total assets of £E 3,693 million ($643.4 million), loans and a

  • Bahrainis take Delta majority stake

    A consortium led by Ahli United Bank (AUB) and including two of its group companies Bank of Kuwait & the Middle East (BKME) and Ahli Bank of Qatar announced on 21 August it had acquired an 89.3 per cent stake in Delta International Bank for£E 37 ($6.44) a share. The acquisition fits in with AUB's strategy of involvement in secondary markets such as Egypt as well as its primary markets in the GCC. At the end of 2005, Delta had total assets of£E 3,693 million ($643.4 million), loans and advances

  • Bank IPO timing clarified

    The initial public offering (IPO) of shares in the greenfield Al-Khaleej Bank will not take place before the fourth quarter, according to a statement issued by the founding committee in late August. Application for the IPO will not be presented to the Economy & Commerce Ministry before October, the statement added. The IPO will also be smaller than originally expected at some QR 600 million ($165 million). The statement was issued following market speculation that the IPO was imminent, leading t

  • Bank Saderat barred from US business

    The US Treasury Department is cutting off all direct and indirect access to the US financial system by state-owned Bank Saderat. The bank is accused of transferring funds to groups regarded by the White House as 'terrorist organisations'.'Bank Saderat facilitates Irans transfer of hundreds of millions of dollars to Hezbollah and other terrorist organisations each year,' Stuart Levey, undersecretary for terrorism and financial intelligence at the Treasury Department, said on 8 September.

  • Barrott appointed ALDAR CEO

    Ronald Barrott has been appointed as chief executive officer (CEO) of local real estate developer ~ALDAR Properties~. He joined ALDAR in May as chief operating officer. In his new role Barrott will have overall responsibility for the company, which includes project development activities and related businesses in Abu Dhabi and future expansion into international markets (MEED 2:6:06).

  • Barzani counters Baghdad oil threat

    Nechirvan Barzani, Prime Minister of the Kurdish 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 [Hussein] Shiristani's [Iraq's Oil Minister] efforts to sabotage foreign investment in out oil sector,' he said on 27 September. 'Oil and gas are not among the exclusive powers of the federal government. The constitution

  • Barzani counters Baghdad oil threat

    Nechirvan Barzani, Prime Minister of the Kurdish 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 [Hussein] Shiristani's [Iraq's Oil Minister] efforts to sabotage foreign investment in out oil sector,' he said on 27 September. 'Oil and gas are not among the exclusive powers of the federal g

  • Bechtel sails into Khalifa port

    US-based Bechtel has been appointed by Abu Dhabi Ports Company (ADPC) to provide programme management services (PMS) for the planned AED 8,000 million ($2,100 million) Khalifa Port & Industrial Zone (KPIZ) at Taweelah.

  • Beirut counts cost of recovery

    Beirut secured $940 million worth of aid for its early recovery plan (ERP) at a donor conference in Stockholm on 31 August. 'The aid will go towards immediate recovery needs,' Kathleen Cravero, head of crisis prevention and recovery at the UN Development Programme (UNDP), told MEED from Stockholm in late August.

  • Beirut counts cost of recovery

    Beirut secured $940 million worth of aid for its early recovery plan (ERP) at a donor conference in Stockholm on 31 August. 'The aid will go towards immediate recovery needs,' Kathleen Cravero, head of crisis prevention and recovery at the UN Development Programme (UNDP), told MEED from Stockholm in late August.

  • Berlin approves Lebanon force

    Germany on 13 September approved sending warships to patrol Lebanese waters as part of a UN peacekeeping force. The 2,400-strong naval force will be the second largest contingent to join the UN mission after Italy's. The decision was made 'in view both of our particular responsibility for Israel's right to exist, and for a solid solution for peace in the region,' German Chancellor Angela Merkel said. Germany will not be deploying ground troops. Russia has also announced it

  • Berlin approves Lebanon force

    Germany on 13 September approved sending warships to patrol Lebanese waters as part of a UN peacekeeping force. The 2,400-strong naval force will be the second largest contingent to join the UN mission after Italy's. The decision was made 'in view both of our particular responsibility for Israel's right to exist, and for a solid solution for peace in the region,' German Chancellor Angela Merkel said. Germany will not be deploying ground troops. R

  • Bidders line-up for Al-Rajhi Bank headquarters

    Eight local and international groups submitted bids on 5 September to build the new headquarters building for Al-Rajhi Bank in Riyadh. The project, valued at about $200 million, will be located between King Fahd road and Olayya street (MEED 31:3:06).

  • Bidders line-up for Al-Rajhi Bank headquarters

    Eight local and international groups submitted bids on 5 September to build the new headquarters building for Al-Rajhi Bank in Riyadh. The project, valued at about $200 million, will be located between King Fahd road and Olayya street (MEED 31:3:06).

  • Bidding under way for Hasdrubal field project

    Further details have emerged on the bidding schedule for three packages on the estimated $700 million scheme proposed by the UKs BG to develop the Hasdrubal gas and condensate field in the Gulf of Gabes. Technical bids for the offshore platform package are expected in late October, while those for the pipeline package are due by late October and those for the contract to supply line pipe are due by late September. Technical bids are already under evaluation from six groups for the onshore packag

  • Bids due for water rehab

    Tenders for the rehabilitation of water facilities in Rafah and the Northern Governorate of Gaza are due to be issued in mid-September. The $5.5 million UN Development Programme (UNDP) project is funded by the Japanese government under the UNs emergency appeal. The scope of works will cover the rehabilitation of water systems, house collections and the drilling and construction of new water wells. The project is in the detailed design phase, which is being undertaken by the Palestinian Water Aut

  • Bids due for Zarzaitine

    China's Sinopec has issued tenders for two main construction packages on the rehabilitation of Zarzaitine oil field in the Illizi basin. The enhanced oil recovery (EOR) contracts are each worth about $150 million.

  • Bids in for Alba refinancing

    Bids were submitted in late August for the $700 million refinancing of the conventional and metals tranches on the debt package to fund the $1,700 million fifth potline expansion of Aluminium Bahrain (Alba). The original 10-year financing, which also includes export credit and Islamic tranches and a local currency-denominated bond, was taken out in 2002 (MEED 4:8:06).Two groups of banks and three individual institutions are understood to have put in offers very close in price, expected t

  • Bids in for Al-Durrah

    Bids have been submitted by at least three groups for the main construction package on the Al-Durrah tower project on Dubai's Sheikh Zayed road. The bidders include Arabtec Construction and Dubai Contracting Company (DCC), both local, and China's Beijing Construction Engineering Group. The proposed tower, which will have 50 storeys, was originally conceived as a 75-storey mixed-use tower, but was reduced in size to comply with the requirements of Dubai's Department of Civil Aviation. The US'

  • Bids in for bridge and road works

    Dubais Roads & Transport Authority (RTA) has received bids for a further AED 830 million ($227 million) of road contracts. The most recent round of tendering covers the floating bridge project across Dubai Creek, road improvement works in Al-Sufouh, Muhaisnah and Mizhar and Jumeirah. The authority has also invited companies to bid for the latest phase on its Ittihad road improvement scheme.

  • Bids in for Fujairah IWPP

    Final commitments were submitted by banks on 4 September for financing the Fujairah independent water and power project (IWPP), which was awarded to Singapores Sembcorp in early July. Barclays Capital and Societe Generale are the mandated lead arrangers (MEED 28:7:06; 4:8:06).

  • Bids in for giant Oman gas fields

    International and regional oil companies submitted appraisal and development proposals on 16 September to the Ministry of Oil & Gas (MoG) for a long-term agreement to develop -'tight' gas in the central Khazzan and Makarem fields. Both fields are estimated to contain a total of at least 20 trillion cubic feet (tcf), or nearly 55 per cent of the sultanate's total proven gas reserves of 35 tcf. The bidders include: a three-member group of France's Total, with the Royal Dutch/Shell Group and A

  • Bids in for giant Oman gas fields

    International and regional oil companies submitted appraisal and development proposals on 16 September to the Ministry of Oil & Gas (MoG) for a long-term agreement to develop tight gas in the central Khazzan and Makarem fields. Both fields are estimated to contain a total of at least 20 trillion cubic feet (tcf), or nearly 55 per cent of the sultanates total proven gas reserves of 35 tcf. The bidders include: a three-member group of Frances Total, with the Royal Dutch/Shell Group and Abu D

  • Bids in for Sheikh Hamdan complex

    The local/UK Dutco Balfour Beatty is low bidder at AED 283 million ($77 million) for a proposed mixed-use development in Jumeirah. Dutcos price is 5 per cent lower than the offer of AED 297 million ($81 million) submitted by a company identified as Al-Hamdaia. The other bidders are the local Saleh Construction at AED 332 million ($90 million) and the local Al-Habtoor Engineering Enterprises at AED 348 million ($95 million). Known as the Sheikh Hamdan awards complex, the development is located of

  • Bids in for Umm Shaif pipeline FEED

    Prequalifications were submitted on 3 September to Abu Dhabi Marine Operating Company (Adma-Opco) for a front-end engineering and design (FEED) contract covering the replacement of in-field water injection and crude oil transfer pipelines at the Umm Shaif field. International companies include WorleyParsons of Australia, Tebodin of the Netherlands, the UKs Mott MacDonald and Paris-based Technip. Mott has carried out the conceptual study for the project, which will entail the replacement of 12-20

  • Bids invited for aromatics study

    Egyptian Petrochemicals Holding Company (ECHEM) in mid-September issued a request for proposals to US-based firms for the contract to carry out a feasibility study for a new greenfield aromatics complex. Interested companies have been given until 31 October to submit bids. The US Trade & Development Agency will finance the study.

  • Bids invited for BIW infrastructure design

    Bids have been invited by 24 September from nine companies for the infrastructure design contract on the Bahrain Investment Wharf (BIW) project. The client, the local Al-Khaleej Development Company (Tameer), is expected to take about a month to evaluate the offers, with an award due by the end of October. The contract, which may be extended to cover construction supervision, includes design of the electricity, water, sewerage, roads, telecommunications and roads networks, as well as verificat

  • Bids invited for BIW infrastructure design

    Bids have been invited by 24 September from nine companies for the infrastructure design contract on the Bahrain Investment Wharf (BIW) project. The client, the local Al-Khaleej Development Company (Tameer), is expected to take about a month to evaluate the offers, with an award due by the end of October. The contract, which may be extended to cover construction supervision, includes design of the electricity, water, sewerage, roads, telecommunications and roads networks, as well as

  • Bids invited for Rotana

    Companies have been invited to bid by 30 September for the main construction package on the Park Rotana mixed-use development at Khalifa Park in Abu Dhabi. Evaluation is expected to take about three months, with an award due in early 2007.

  • Bin Laden 9/11 footage aired

    Arabic television channel Al-Jazeera on 7 September broadcast a video showing Osama bin Laden and other senior Al-Qaeda members meeting some of the men who carried out the 11 September 2001 attacks on the US. Al-Jazeera said the video showed senior Al-Qaeda figures 'preparing for the attacks and practising their execution' in the mountains of Afghanistan. The broadcast came four days before the fifth anniversary of the 11 September attacks. The previously unseen footage sh

  • Bin Laden 9/11 footage aired

    Arabic television channel Al-Jazeera on 7 September broadcast a video showing Osama bin Laden and other senior Al-Qaeda members meeting some of the men who carried out the 11 September 2001 attacks on the US. Al-Jazeera said the video showed senior Al-Qaeda figures 'preparing for the attacks and practising their execution' in the mountains of Afghanistan. The broadcast came four days before the fifth anniversary of the 11 September attacks. The p

  • Binladin gets more mosque work

    Saudi Binladin Group (SBG) has been selected to carry out additional works and modifications to the external atrium in the Prophets mosque in Medina. The multi-million dollar contract centres on the modification of the entrance and exits through the construction of several tunnels. The work, which aims to relieve congestion in the area, also includes additional umbrellas, extension of parking facilities and adding other ancillary facilities. Beirut-based Dar al-Handasah (Shair & Partners) is the

  • Blair met by Lebanese protesters

    UK Prime Minister Tony Blair on 11 September held talks with the Lebanese government as 2,000 protesters demonstrated against his visit to Beirut. Demonstrators accused him of supporting Israel's war against Lebanon. Several ministers refused to meet Blair. 'He was a party in the war,' Health Minister Mohammed Khalifa and a member of the Shia movement Amal told Reuters news agency. 'He supported the US position and did not call for a ceasefire It is natural that we do not receive him.'

  • Blair met by Lebanese protesters

    UK Prime Minister Tony Blair on 11 September held talks with the Lebanese government as 2,000 protesters demonstrated against his visit to Beirut. Demonstrators accused him of supporting Israel's war against Lebanon. Several ministers refused to meet Blair. 'He was a party in the war,' Health Minister Mohammed Khalifa and a member of the Shia movement Amal told Reuters news agency. 'He supported the US position and did not call for a ceasefire It is natural that we do not recei

  • BMB INVESTMENT BANK: Back from the brink

    A couple of years ago, the continued existence of Bahrain-based BMB Investment Bank was in doubt. Hit by the fallout from the US dotcom implosion and problems faced by compatriot Bahrain International Bank (BIB), creditors balked at rolling over a syndicated loan and interbank facilities were cancelled. 'We survived despite all the odds,' says chief executive officer Albert Kittaneh, who steered the bank through the crisis.

  • BMB INVESTMENT BANK: Back from the brink

    A couple of years ago, the continued existence of Bahrain-based BMB Investment Bank was in doubt. Hit by the fallout from the US dotcom implosion and problems faced by compatriot Bahrain International Bank (BIB), creditors balked at rolling over a syndicated loan and interbank facilities were cancelled. 'We survived despite all the odds,' says chief executive officer Albert Kittaneh, who steered the bank through the crisis.Fortunately that crisis is now over and Kittaneh is once agai

  • BMCE enjoys profits boost

    Banque Marocaine de Commerce Exterieur (BMCE) has reported impressive year-end results for 2005, with a 28.5 per cent year-on-year rise in consolidated net earnings to MD 735 million ($85 million) from MD 572 million ($66 million). Net banking income grew 11.5 per cent to MD 3,100 million ($360 million), with a 7 per cent rise in customer deposits and a 16.2 per cent increase in customer loans. Five new business centres and 50 new branches were opened in 2005. Coverage of non-performing loans

  • BMCE enjoys profits boost

    Banque Marocaine de Commerce Exterieur (BMCE) has reported impressive year-end results for 2005, with a 28.5 per cent year-on-year rise in consolidated net earnings to MD 735 million ($85 million) from MD 572 million ($66 million). Net banking income grew 11.5 per cent to MD 3,100 million ($360 million), with a 7 per cent rise in customer deposits and a 16.2 per cent increase in customer loans. Five new business centres and 50 new branches were opened in 2005. Coverage of non-performing loans (N

  • Bomb attacks in Baghdad, Hilla claim 56

    At least 44 people were killed in a bomb attack on Al-Shurja market in Baghdad on 30 August. More than 35 people have been injured, according to local police reports. The violence follows another bomb attack earlier in the day on an army recruitment centre in Hilla, 90 kilometres south of the capital, which killed 12 people and wounded 38 others.Hilla has been frequently targeted by insurgents. It was the scene of the single bloodiest attack in Iraq since the US-led invasi

  • Bomb attacks in Baghdad, Hilla claim 56

    At least 44 people were killed in a bomb attack on Al-Shurja market in Baghdad on 30 August. More than 35 people have been injured, according to local police reports. The violence follows another bomb attack earlier in the day on an army recruitment centre in Hilla, 90 kilometres south of the capital, which killed 12 people and wounded 38 others.Hilla has been frequently targeted by insurgents. It was the scene of the single bloodiest attack in I

  • Bonyan inks PMS deal with Singaporeans

    Bahrain-based real estate developer Bonyan International has signed a memorandum of understanding (MoU) with the Singapore-based BPL Engineering & Construction (BPL) to provide project management services (PMS) across the Middle East. The agreement is the latest in a string of agreements between developers and project management firms. In July, Dubai-based Emaar Properties and US-based Turner Construction International joined forces to provide PMS services (MEED 14:7:06).

  • Borealis, Borouge to set up innovation centre

    Copenhagen-based Borealis and Abu Dhabi Polymers Company (Borouge) announced on 14 September plans to establish an innovation centre in Abu Dhabi. The centre, developed jointly by both companies, will be focused on the development of practical solutions for plastic material applications. Planned to be operational by 2009, it will employ 45 technical staff. 'We have a very clear approach to creating value through innovation,' says Borealis chief executive officer John Taylor. 'We want to co-opera

  • Boskalis rides The Wave

    The Netherlands' Royal Boskalis Westminster has won the first marine works contract on the $1,100 million The Wave Muscat mixed-use tourism and residential development. Tenders for the first infrastructure work and the first main construction contract will be issued soon (MEED 5:5:06).

  • Bridge bidders line up

    Jeddah Municipality has received bids from 12 contractors for five bridge projects aimed at easing traffic congestion in the city. Saudi Freyssinet was low bidder for two contracts, while the local Advanced Contracting Company was low bidder for the remaining three packages. The 12-month contracts, each worth between SR 40 million-100 million ($10 million-27 million), cover the intersections between: King Fahd road and Quraiysh street; Prince Mohammed bin Abdul-Aziz street and Prince Muteb stree

  • Briefing: Inflation: Paying a premium

    Two subjects are guaranteed to elicit groans in Dubai. One is the huge volume of traffic that now clogs the city's roads. The other is spiralling rents. Both threaten to make the emirate a victim of its own success, driving away expatriates who once were lured in by promises of an easy-going, tax-free lifestyle.

  • Buro takes Al-Rajhi work

    The UKs Buro Happold has been awarded an engineering consultancy services contract for the new headquarters building for Al-Rajhi Bank in Riyadh. Eight local and international groups have submitted bids for the estimated $200 million project. The bidders are the local Yamama Construction Company with Chinas Sino State Construction Engineering Corporation, South Koreas Samwhan Corporation with an unidentified local contractor, the local/Lebanese Saudi ACC with the local Saudi Build, and El-Seif E

  • Bush declassifies terror report

    US President Bush on 26 September ordered the declassification and release of parts of a report by 16 US intelligence agencies on the role of the war in Iraq in fuelling global terror. The Iraqi conflict has become a 'cause celebre' for Islamic militants, the document said. The report found that both the number and geographical dispersion of militants was increasing. 'We assess that the Iraqi jihad is shaping a new generation of terrorist leaders and operatives; perceived jihadist succes

  • Bush signs off FTA

    President Bush has signed the US-Oman free trade agreement (FTA), the final step to enforcing the pact that will liberalise trade between the two countries. The agreement will abolish duties on most industrial and consumer goods and the government hopes it will encourage US investment in the sultanate. The US is the seventh largest market for the sultanates non-oil exports, which totalled RO 19.1 million ($49.6 million) in 2005, and its fourth largest source of imports at RO 208.8 million ($542

  • Byblos clean-up under way

    The northern port town of Byblos has embarked on a massive clean-up operation of its harbour and surrounding coastline after an Israeli air strike in late July on Jieh power plant, south of Beirut, resulted in up to 35,000 tonnes of heavy fuel oil spilling into the Mediterranean sea.

  • Cairo aims to catch the sun

    The New & Renewable Energy Authority (NREA) has invited six groups to submit bids by 29 October for the engineering, procurement and construction (EPC) contract covering the power island on the integrated solar/combined cycle (ISCC) power plant in Kureimat.

  • Cairo aims to catch the sun

    The New & Renewable Energy Authority (NREA) has invited six groups to submit bids by 29 October for the engineering, procurement and construction (EPC) contract covering the power island on the integrated solar/combined cycle (ISCC) power plant in Kureimat.

  • Cairo catches the Zafarana wind

    The New & Renewable Energy Authority (NREA) is working on three wind power projects at its site in Zafarana. Spain's Gamesa Energia has been awarded the lump-sum turnkey (LSTK) contract to build an 80-MW wind farm. The scope of works includes the design, supply and installation of 94 850-KW turbines and connection to the Zafarana substation. Gamesa will operate and maintain the farm for five years, after which operation will be transferred to the NREA.

  • Cairo homes in on EGAS round

    Awards are expected by early October for 12 on- and offshore blocks in the Nile Delta, North Sinai and the Mediterranean. Egyptian Natural Gas Holding Company (EGAS) received bids from international oil companies (IOCs) in July for the blocks.

  • Cairo homes in on EGAS round

    Awards are expected by early October for 12 on- and offshore blocks in the Nile Delta, North Sinai and the Mediterranean. Egyptian Natural Gas Holding Company (EGAS) received bids from international oil companies (IOCs) in July for the blocks.

  • Cairo plans nuclear power

    Cairo has announced plans to restart its civil nuclear energy programme, 20 years after it was suspended. Speaking in late September, Energy Minister Hassan Younes said that approval had been given for an estimated $1,500 million project to build a 1,000-MW power plant at Dabaa by 2015. The move comes after calls from both President Mubarak and his son Gamal, head of the policy secretariat of the ruling National Democratic Party (NDP), in recent speeches for the relaunch of the countrys nuc

  • Cairo plans nuclear power

    Cairo has announced plans to restart its civil nuclear energy programme, 20 years after it was suspended. Speaking in late September, Energy Minister Hassan Younes said that approval had been given for an estimated $1,500 million project to build a 1,000-MW power plant at Dabaa by 2015. The move comes after calls from both President Mubarak and his son Gamal, head of the policy secretariat of the ruling National Democratic Party (NDP), in recent speeches for the relaunch of the country's nuc

  • Calibre on target at Kurdish block

    The US Calibre Energy has joined a consortium of international firms in an exploration and production sharing agreement (EPSA) with the Kurdish regional government for the Banu-Bavu block. Other members in the consortium include the US Hawler Energy, Australias Oil Search and Turkeys Petoil, which will act as the operator for the venture. The block covers the northern extension of the Zagros fold belt about 70 kilometres north of the Kirkuk oil field. The initial exploration well will be drilled

  • Call for GFPC bids

    The local Al-Rajhi Petrochemical Company has invited international contractors to submit bids by 4 September for the project management consultancy (PMC) contract covering the development of a new benzene recovery unit at the Gulf Farabi Petrochemical Company (GFPC) petrochemical complex in Jubail. Selection of a PMC consultant is expected by the end of October.

  • Capital Bank tower takes shape

    Plans for the capital's tallest tower are taking shape. The new 52-storey tower will be the centrepiece of the Al-Abdali mixed-use real estate project and is expected to be completed by 2009. The project manager is a team of Bahrain-based Projacs International and the local Arabtech Jardaneh. The UK's Buro Happold is the structural engineer. The architect is the UK's Fosters & Partners.

  • Capital Bank tower takes shape

    Plans for the capitals tallest tower are taking shape. The new 52-storey tower will be the centrepiece of the Al-Abdali mixed-use real estate project and is expected to be completed by 2009. The project manager is a team of Bahrain-based Projacs International and the local Arabtech Jardaneh. The UKs Buro Happold is the structural engineer. The architect is the UKs Fosters & Partners.The $180 million commercial tower will have a total built-up area of 177,000 square metres and will be the

  • Capital Markets

  • Capital Markets

  • Capital Markets: Confidence returns

    The prospects seemed poor for the initial public offering (IPO) of shares in Red Sea Housing Services in August. Nationals and expatriates had decamped en masse for summer vacations in cooler climes. Complaints were widely aired in the press that the issue was overpriced, at SR 55. And to make matters worse, a prominent Islamic scholar issued a fatwa against buying shares, claiming the company accrued too high a proportion of its income from interest and employed too few Muslims.

  • CAPITAL MARKETS: Hoping for recovery

    For some time, a chorus of glum UAE stock watchers has been decrying the state of the markets, disheartened by the ongoing correction that began at the end of last year. But there are signs that the tide may be turning. The slump - which turned into a slide in mid-March and has continued through the third quarter, fuelled by wavering investor confidence, the summer exodus from the Gulf and the conflict in Lebanon - could be gently reversing.

  • Capital study awarded

    The UKs WSP Group with the local Consolidated Consultants has been awarded a 15-month transport study for the capital. Under the contract, the team will assist the Public Transport Regulatory Commission in developing an advanced model of transport demand for the Amman governorate. It will also look to set up a network-wide public transport system and assess travel demand. 'The contract is expected to be expanded to cover transport solutions for the entire kingdom,' says a project source. 'We exp

  • Carillion scoops Seeb interchange

    The UK/local Carillion Allawi has been awarded the RO 10 million ($26 million) contract to build an interchange at Seeb International Airport. Carillion was second lowest bidder for the project after Indias Nagarjuna. The project involves the construction of two bridges and an additional stretch of the westbound road and will ease traffic congestion on Sultan Qaboos Street. The US Parsons International is the consultant (MEED 4:8:06).

  • 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.The fund will be its first investing within the region. The Carlyle Group manages 42 funds and is one of the worlds largest private equity firms, with $44,300 million of assets under management.'Its exciting that these [large] firms are looking at the region,' says Haydee Celaya, director of private equity and investment funds at

  • CASE steadies

    The Cairo & Alexandria Stock Exchanges (CASE) edged toward recovery in August from the previous months downturn. Investors who stayed away from the market in July, in large part scared off by the conflict in Lebanon, have made a cautious return to trading. The Egyptian market stabilised and even started on a gentle recovery, up 6 per cent over the course of the month to 6,163 points on 30 August.

  • Caution first in Qatar

    The Doha Securities Market (DSM) remains shaky, bumping up and down from week to week with little obvious momentum. Investors have yet to regain the confidence eroded by share price reversals earlier in the year, which have left the DSM index down by just over 30 per cent since January. And the shallow market also feels acutely the impact of events elsewhere in the Gulf. 'This is no longer a Robinson Crusoe market we are not insulated from the rest of the GCC,' says a Doha-based analyst. 'Lots

  • CAVIAR: Fishy business

    Synonymous with high society, the UAE caviar trade has faced its ups and downs in recent years. Until 2001, caviar freely arrived on the shores of the federation from Iran, Russia and other Caspian states, with estimates of an illegal trade worth about $25 million. Five years on, the trend appears to have been curbed. Gone are the days of criminal gangs forging documents and bribing officials to acquire re-export certificates. Border controls are stricter than ever and a 250-gramme limit has

  • Cement firms cut prices

    Suez Cement Company and its local subsidiary ASEC and Portland Torah Cement Company have agreed to cut the ex-factory price of their cement to £E 300 ($52) from £E 330 ($58) a tonne. The move follows a widespread lack of compliance by local cement producers with Augusts ruling from the Foreign Trade & Industry Ministry to cut ex-factory prices to £E 290 ($50.50) a tonne and retail prices to £E 330 ($58) a tonne. The government intervened after local cement prices reached £E 390 ($68) a tonne in

  • Chief removed in rail crash fallout

    Hanafi Abdel Qawi, the director of Egyptian National Railways, has been removed from his post following the rail crash on 21 August in Qalyoub, 20 kilometres from Cairo. The crash, which left 58 people dead, was Egypt's worst since 2002, when a fire broke out on a train killing 370 people.

  • China increases Lebanon force to 1,000

    China on 18 September announced it will increase the number of its troops in southern Lebanon to 1,000. The move will make China one of the biggest contributors to the UN Interim Force in Lebanon (UNIFIL). 'China is very concerned about the situation in Lebanon and hopes it can be fundamentally resolved,' Chinese Premier Win Jiabao said following talks with Italian Prime Minister Romano Prodi in Beijing. 'This shows that China is assuming more and more international respon

  • China increases Lebanon force to 1,000

    China on 18 September announced it will increase the number of its troops in southern Lebanon to 1,000. The move will make China one of the biggest contributors to the UN Interim Force in Lebanon (UNIFIL). 'China is very concerned about the situation in Lebanon and hopes it can be fundamentally resolved,' Chinese Premier Win Jiabao said following talks with Italian Prime Minister Romano Prodi in Beijing. 'This shows that China is assuming more an

  • Chinese take United Cement contract

    China's Sinoma International has been awarded the SR 862.5 million ($230 million) contract to build a greenfield cement plant near Jeddah for the recently formed United Cement Company. The two-year job covers construction of the 1.6 million-tonne-a-year plant and equipment supply, in addition to power plants, residential facilities and roads. Commissioning is due by the end of 2008. India's Holtec is the consultant. The project is among many planned in the kingdom to combat a growing cement s

  • Chinese take United Cement contract

    Chinas Sinoma International has been awarded the SR 862.5 million ($230 million) contract to build a greenfield cement plant near Jeddah for the recently formed United Cement Company. The two-year job covers construction of the 1.6 million-tonne-a-year plant and equipment supply, in addition to power plants, residential facilities and roads. Commissioning is due by the end of 2008. Indias Holtec is the consultant. The project is among many planned in the kingdom to combat a growing cement sh

  • Chinese to finance aluminium plant

    The local El-Maged Aluminium has applied to build an aluminium smelter in a new 1.6-square-kilometre special industrial zone in Ismailia. The application follows the securing of finance worth $800 million from an unnamed Chinese company with whom El-Maged has signed a co-operation agreement. El-Maged is understood to have carried out preliminary studies of the project and to have completed initial designs. Cairo-based Industrial Development Authority (IDA) expects to make a final decision on the

  • CIB, Sawiris lead new investment drive

    Commercial International Bank (CIB) announced on 20 August the signing of a binding memorandum of understanding (MoU) with Oasis Capital Egypt, US-based Dynamic Securities Trading and local investor Naguib Sawiris to form a financial services group with its investment arm, Commercial International Capital Holding (CICH).

  • CIB, Sawiris lead new investment drive

    Commercial International Bank (CIB) announced on 20 August the signing of a binding memorandum of understanding (MoU) with Oasis Capital Egypt, US-based Dynamic Securities Trading and local investor Naguib Sawiris to form a financial services group with its investment arm, Commercial International Capital Holding (CICH).

  • CITC postpones RFA issue

    Telecoms regulator the Communications & Information Technology Commission (CITC) announced on 19 August the postponement by at least a month of the release of request for application (RFA) documents for the kingdom's third mobile and first fixed-line licences. Citing 'the unavailability of essential information and inputs that are required for the licensing process,' the CITC said it will announce an update on the situation on 30 September. RFA documents were due to have been issued in late July

  • Citi/Riyad team take refinery advisory

    The team of Citigroup and Riyad Bank has been awarded the financial advisory mandate on the export refinery project at Yanbu, planned by a joint venture (JV) of Saudi Aramco and the US' ConocoPhillips.

  • Cluster bomblets biggest threat to Lebanon, says UN

    UN agencies on 26 September said about 1 million unexploded cluster bomblets currently pose the greatest threat to civilians in southern Lebanon. Unexploded munitions have killed 14 people since a ceasefire between Israel and Hezbollah came into effect on 14 August. It is estimated that about 40 per cent of the bomblets dropped by Israel during the 34-day war failed to detonate. The UN High Commission for Refugees (UNHCR) says the return of some 200,000 displaced Lebanese will be delayed

  • Companies line up for refinery maintenance

    State refinery operator Kuwait National Petroleum Company (KNPC) has invited seven contractors to bid by 12 September for an estimated $50 million contract to maintain control systems at its Mina al-Ahmadi refinery. Evaluation is expected to take three months, with an award due by year-end. The scope of works on the five-year contract calls for the maintenance of instrumentation and control systems at the refinery, the provision of manpower, and some rehabilitation and upgrade works. The local A

  • Companies line up for Shuqaiq conveyor

    The Saline Water Conversion Corporation (SWCC) has prequalified six international companies and groups for the six construction packages on the estimated $1,200 million Shuqaiq water conveyance project.

  • Companies line up for Shuqaiq conveyor

    The Saline Water Conversion Corporation (SWCC) has prequalified six international companies and groups for the six construction packages on the estimated $1,200 million Shuqaiq water conveyance project.

  • Construction: A question of resources

    The first timers have been flooding onto Doha's construction scene in recent months. Croats, Australians, Indonesians and Greeks have all made their mark, winning major contract awards. With local contractor capacity stretched, the new injection of blood is certainly needed. But winning a project may be the easy part for the newcomers; delivering it on time and within budget in such a frenetic market is likely to prove a lot harder.

  • Construction: A question of resources

    The first timers have been flooding onto Dohas construction scene in recent months. Croats, Australians, Indonesians and Greeks have all made their mark, winning major contract awards. With local contractor capacity stretched, the new injection of blood is certainly needed. But winning a project may be the easy part for the newcomers; delivering it on time and within budget in such a frenetic market is likely to prove a lot harder.

  • construction: Calm before the storm

    'I get a feeling the market is slowing down.' The comment from a Riyadh-based contractor would send a shiver down the spine of any businessman looking to put some cash into the Saudi construction sector. Considering the last 12 months have seen unprecedented activity in the construction sector and the government is earning more than $16,000 million a month from oil revenue, most people would be hard pushed to suggest the market was on the cusp of a downturn.

  • construction: Calm before the storm

    'I get a feeling the market is slowing down.' The comment from a Riyadh-based contractor would send a shiver down the spine of any businessman looking to put some cash into the Saudi construction sector. Considering the last 12 months have seen unprecedented activity in the construction sector and the government is earning more than $16,000 million a month from oil revenue, most people would be hard pushed to suggest the market was on the cusp of a downturn.But the feeling is reflec

  • CONSTRUCTION: Delays take their toll

    In November, the world's largest airship will arrive in Dubai to celebrate the handover of the first properties on Palm Jumeirah. For local developer Nakheel, the event will be the beginning of the end of more than five years of work that began back in 2001 when the first dredging contracts were let. For the contractors, it will be the end of one final push to get the 1,400 villas and 2,500 shoreline apartments finished.

  • Contractors eye major Medina work

    Kuwait's Munshaat Real Estate Projects Company has invited contractors to submit bids by 5 October to build one of the largest residential projects in Medina. The Dar al-Qeblah complex will be located about 150 metres to the south of the Prophet's mosque.

  • Contractors gear up for transmission work

    Local and international contractors are preparing to submit bids for two 24-month contracts to build transmission lines between the planned 2,600-MW Qurayyah power plant and the national grid in the Eastern Province. The client on both projects is Saudi Electricity Company (SEC). The first contract, worth an estimated SR 300 million ($80 million), involves the supply and installation of 135 kilometres of 380-kV double-circuit line. The second scheme covers the construction of 90 kilometres of 38

  • Contractors line up for Cairo hotel renovation

    A series of hotel refurbishment projects have been launched in Cairo. Bids are under evaluation for an estimated $80 million refurbishment of the Hyatt Park and prequalification has been completed for a major upgrade of the Cairo Sheraton hotel.

  • Conveyor project to save Dead Sea gets go-ahead

    The $800 million Red Sea-Dead Sea Conveyor project to save the Dead Sea will formally begin in October, with the establishment of an international trust fund to finance the project.

  • Conveyor project to save Dead Sea gets go-ahead

    The $800 million Red Sea-Dead Sea Conveyor project to save the Dead Sea will formally begin in October, with the establishment of an international trust fund to finance the project.

  • Correction

    Japans Mitsubishi Heavy Industries is the sole engineering, procurement and construction (EPC) contractor for both the power and desalination elements on the ACWA Power Projects-led developer group bidding for the Shuqaiq independent water and power project (IWPP), and not as stated in MEED 4:8:06. The technical adviser to the group is Germanys ILF Consulting Engineers. Trowers & Hamlins is legal adviser.

  • Correction

    The KD 9.4 million ($32.4 million) contract to build and maintain infrastructure for a new residential area in the Maseela district was awarded to Kuwait Company for Process Plant Construction & Contracting (KCPC) and not as stated in MEED 18:8:06.

  • Correction

    In the last Banking Special Report dated 30:6:06, the return on year-end equity and assets for Banque Saudi Fransi (BSF) were mis-stated. The return on year-end equity for 2005 was 32 per cent, up 26.4 per cent on the previous year, placing BSF 10th in the rankings. The banks return on year-end assets was 3.3 per cent, up 27.5 per cent, positioning the bank in joint 27th place.

  • CRC takes Dorra Bay

    Egypts Construction Reconstruction Company (CRC) has been awarded the estimated AED 150 million ($41 million) main construction package for the Dorra bay tower in Dubai Marina. The contract calls for the construction of a 30-storey residential tower. The local National Engineering Bureau is the consultant. Local real estate developer Cayan Investment & Development Company is the client.

  • Credit Agricole subsidiaries create new bank

    Egyptian American Bank (EAB) and Calyon Bank, both subsidiaries of Credit Agricole, announced on 3 September their formal merger to form a new bank, Credit Agricole Egypt (CAE).The new bank will have an initial capital of $1,100 million. CAE will list on the Cairo & Alexandria Stock Exchanges (CASE). The new bank will be active in both corporate and retail banking, with 45 branches across the country. Credit Agricole will hold 75 per cent of the shares in CAE, with its local partner El-M

  • Croats plan exploration JV

    Croatias INA Naftaplin (INA) is in negotiations to form a new joint venture (JV) company for exploration and production in block 10 in Aphamia, in the west. 'The exploration well Jaddua has not yet been completed, but we are talking to companies over a possible JV,' says a senior INA representative. Crosco Integrated Drilling & Well Services Company, an upstream subsidiary of INA, is the drilling contractor.

  • Daman proposes mutual investments

    Dubai-based Daman Securities plans to launch two new mutual funds by year-end, following the closure in June of its UAE Value Fund. The new funds will invest primarily in UAE equities, as well as GCC securities on an opportunistic basis. The timing of the launch will depend on market conditions. The UAE bourses continued to struggle in late August, with Dubai-based Shuaa Capital's UAE index down 34 per cent year to date.

  • Daman tenders for buildings

    Prequalified companies have been invited to bid by 17 October for the main construction package on the estimated $450 million Buildings by Daman project in Dubai International Financial Centre (DIFC). The prequalifiers include the local/Lebanese Arabian Construction Company, the local Arabtec Construction, the local/Australian Nasa Multiplex and Saudi Oger.

  • Daman tenders for buildings

    Prequalified companies have been invited to bid by 17 October for the main construction package on the estimated $450 million Buildings by Daman project in Dubai International Financial Centre (DIFC). The prequalifiers include the local/Lebanese Arabian Construction Company, the local Arabtec Construction, the local/Australian Nasa Multiplex and Saudi Oger.

  • Darfur death toll exceeds 200,000, says study

    A study released by the US journal Science on 15 September has found that more than 200,000 people have died as a result of the conflict in Darfur. A day earlier, the UN warned that the war-torn region was heading for disaster. In a joint appeal, Republican ambassador John Bolton, actor George Clooney and Nobel laureate Elie Wiesel called for an end to the latest wave of violence in Darfur. 'This genocide will be on your watch; how you deal with it will be your legacy,' Cl

  • Darfur death toll exceeds 200,000, says study

    A study released by the US journal Science on 15 September has found that more than 200,000 people have died as a result of the conflict in Darfur. A day earlier, the UN warned that the war-torn region was heading for disaster. In a joint appeal, Republican ambassador John Bolton, actor George Clooney and Nobel laureate Elie Wiesel called for an end to the latest wave of violence in Darfur. 'This genocide will be on your watch; how you deal with

  • Days of hope for the stateless Kurds of the Middle East

    Bombings claimed by a Kurdish splinter group at Turkish resorts Marmaris and Antalya have highlighted the fact that the Middle East's oldest minority national movement remains a potent force. Since the start of 2006, there have been at least eight bombings and more than 250 attacks by Kurdish militants in Turkey.

  • DCA mulls bids for World Central and office park

    Dubais Department of Civil Aviation has received bids for three packages at its Dubai World Central development in Jebel Ali. The packages cover two central utility complexes and a headquarters building for Dubai Logistics City (DLC) and surrounding office park (MEED 21:4:06).

  • Deals pay off for Kingdom Hotels

    The acquisition of seven new hotels since the start of the year has seen a huge leap in profits at the Dubai-based Kingdom Hotel Investments (KHI). KHI's interim results for the first half of 2006, which were published on 27 September, show that the addition of 1,630 new rooms to its portfolio in the first half of the year was behind a 282 per cent leap in profits and a 71 per cent increase in revenues compared to the same period in 2005.

  • Debt set to rise as rating remains negative

    Beirut's public debt is expected to rise to $41,000 million by end-2006 following the Israeli assault and two-month-long and air and sea blockade, Finance Minister Jihad Azour said in mid-September. Direct losses to the economy are estimated at $3,000 million-3,500 million, although indirect losses are estimated to total far more.

  • Debt set to rise as rating remains negative

    Beiruts public debt is expected to rise to $41,000 million by end-2006 following the Israeli assault and two-month-long and air and sea blockade, Finance Minister Jihad Azour said in mid-September. Direct losses to the economy are estimated at $3,000 million-3,500 million, although indirect losses are estimated to total far more.International rating agency Standard & Poors (S&P) has placed Beirut off ratings watch for a downgrade following the donor conference in Stockholm in lat

  • Defence: Waiting for the Typhoon

    Riyadh capped a year of negotiations when it announced in August that it had agreed to purchase 72 Typhoon fighter jets, to be manufactured by the European Eurofighter consortium. Many questions remain unanswered, including the price tag. Figures ranging anywhere from $20,000 million to $40,000 million are still being touted in relation to the deal but the main reason for the confusion is simple enough. 'Any figures are bound to be pretty meaningless at this stage,' says one UK-based defence con

  • Defence: Waiting for the Typhoon

    Riyadh capped a year of negotiations when it announced in August that it had agreed to purchase 72 Typhoon fighter jets, to be manufactured by the European Eurofighter consortium. Many questions remain unanswered, including the price tag. Figures ranging anywhere from $20,000 million to $40,000 million are still being touted in relation to the deal but the main reason for the confusion is simple enough. 'Any figures are bound to be pretty meaningless at this stage,' says one UK-based defence

  • DEWA reissues M station tender

    Dubai Electricity & Water Authority (DEWA) has issued for rebid the Jebel Ali M power and desalination project, inviting contractors to submit by 5 December for the two main packages. The rebid came less than a month after the utility received just one quote for the power island package and two for the desalination works. The estimated $1,800 million M station has a planned capacity of 2,000 MW and 105 million gallons a day (MEED 18:8:06).DEWA has made no changes from the original tender

  • DFSA seeks Malaysian understanding

    The Dubai Financial Services Authority (DFSA), the regulatory authority of the Dubai International Financial Centre (DIFC), has signed a memorandum of understanding (MoU) with the Securities Commission of Malaysia. The MoU is part of a strategic initiative that includes reconciling both regulatory environments regarding sharia-compliant transactions and products. The DIFC has already signed MoUs on information sharing with a number of regulatory regimes in South-East Asia and the UK, as well as

  • DIFX eyes bourses

    The Dubai International Financial Exchange (DIFX) is considering purchasing a stake in another regional bourse. 'We are looking at a lot of options in terms of capital markets in the region,' says DIFX chief operating officer Nasser Alshaali. The DIFX has signed memorandums of understanding with the Bahrain Stock Exchange (BSE) and the Dubai Financial Market. 'This shows there are opportunities for other exchanges in the region to partner with the DIFX,' he says.

  • Diplomats meet over Iran issue

    Representatives from the five permanent members of the UN Security Council plus Germany met in Berlin on 7 September to discuss possible sanctions against Iran. The Islamic republic failed to meet the 31 August deadline set by UN Security Council to end its uranium enrichment programme. China and France indicated they were in favour of continuing diplomatic efforts rather than resorting to punitive action. 'China advocates this issue be resolved through negotiation and dia

  • Domestic airline plans take shape

    Six local groups have been shortlisted for two licences to provide domestic airline services across the kingdom. The move is part of an overall programme by the General Authority for Civil Aviation (GACA) to liberalise the aviation sector in the country.

  • Domestic airline plans take shape

    Six local groups have been shortlisted for two licences to provide domestic airline services across the kingdom. The move is part of an overall programme by the General Authority for Civil Aviation (GACA) to liberalise the aviation sector in the country.The firms are: Al-Washkan under the Sama Airlines brand; National Air Services (NAS); Al-Tayyar Group, operating as Al-Tayyar Airlines; Petrogal under Al-Watan Airlines; Kingdom Holding, through Burj Airlines; and Saudi Commercial

  • Doubts over Al-Zour north

    The fate of the 2,500-MW Al-Zour north power project hung in the balance in late August after the client, the Ministry of Energy (Electricity & Water), recommended that bid evaluation should proceed despite only one offer being submitted. However, the National Assembly (parliament) criticised the move, arguing that it went against the state's strict tender regulations and undermined the Central Tenders Committee (MEED 19:5:06).

  • Dozens die in Iraq attacks

    At least 15 people were killed in a spate of attacks across Iraq and a British diplomatic convoy was targeted by insurgents in the Mansur district of Baghdad on 31 August. A US soldier was also killed by a roadside bomb in the Anbar province. The latest attacks come as Iraq prepares to establish joint military headquarters to command the country's navy, air force and ten army divisions. Military leaders will announce on 2 September an agreement 'on the control of strategic

  • DP World takes on another Pakistan project

    DP World, part of Dubai World, has signed a build-operate-transfer (BOT) with Port Qasim Authority for a $211 million container terminal at Port Muhammad Qasim near Karachi. The facility will be the second container terminal at Port Qasim and will be built in three phases. Phase 1 is expected to begin operations in late 2009. DP World is the majority shareholder in the three-berth Qasim International Container Terminal (QICT), which it acquired when it bought the UK's P&O earlier this year. The

  • DRAFT LAW: Model contracts

    Exploration period.

  • DRAFT LAW: Model contracts

    Exploration period.Seven years, to be divided into four sub-periods. An initial three-year contract period is followed by a two-year optional contract, then two one-year optional contracts.Relinquishments.25 per cent of the initial contract area at the end of three years Additional 25 per cent at the end of two yearsAdditional 25 per cent at the end of one yearFinal 25 per cent at the end of one year Development period.Up to 20 years, with an auto

  • DRILLING RIGS: Against all the odds

    Pedco, the drilling arm of National Iranian Oil Company (NIOC), and Romanian rig operator Grup Servicii Petroliere (GSP) have been at loggerheads recently. In mid-August, drilling activities at Irans Hengam oil field came to a halt, after the on-site jack-up rig Fortuna was towed away to the UAE for non-payment and other related issues. GSP was carrying out drilling activities at the offshore field under a contract placed earlier by Pedco.

  • Dubai Bank turns Islamic, spearheads ethical banking

    Dubai Bank expects to receive final approval by the end of September from the Central Bank of the UAE to convert to a sharia-compliant institution. The central bank has approved the bank's conversion plan and given permission for it to open an Islamic window in the meantime. Currently, the bank offers a sharia-compliant investment certificate to investors. In future, it might consider developing Islamic home finance products.

  • DUBAI BANK: Steering Dubais Islamic conversion

    Ahmed el-Shall, the newly appointed chief financial officer (CFO) at Dubai Bank, is very calm for a man about to oversee the complete overhaul of the banks systems, procedures, products and image. In August, Dubai Bank formally announced the start of an 18-month-long process to convert to a sharia-compliant institution. El-Shall has no qualms. '[Conversion] is expensive but it is an investment in the future,' he says. 'It involves an overhaul of people, systems and processes. It was needed. The

  • Dubai pushes ahead with congestion-busting projects

    Dubai's Roads & Transport Authority (RTA) has awarded three major contracts as part of its drive to alleviate congestion in the emirate. The contracts, worth more than AED 900 million ($248 million), cover the final phase of the Ras al-Khor crossing scheme, the floating bridge and the fourth phase of the Jumeirah beach road beautification scheme (MEED 1:9:06).

  • Dubai to list property trusts

    Two real estate investment trusts (REITs) will list on the Dubai International Financial Exchange (DIFX) by year-end. The REITs, one conventional and one sharia-compliant, will be the first REITs to list in the region. 'Its easier to buy and sell shares in REITs than property,' says Khaled Yousaf, director of Islamic finance at the Dubai International Financial Centre (DIFC). 'Usually, as economies grow, rents lag behind, but this is not the case in the UAE. REITs are a way the common investor c

  • Dubai, Cairo markets develop closer links

    Egypts Capital Market Authority (CMA) signed a memorandum of understanding (MoU) with Dubai Financial Services Authority (DFSA) in Cairo on 6 September. The purpose of the MoU is to improve information sharing and supervise trading between the two authorities.

  • Duqm port project weighs anchor

    The Transport & Communication Ministry has issued the tender for the main marine package on Duqm Port. The ministry has invited companies to bid by 2 October for the first package to be tendered, but the deadline is likely to be extended (MEED 9:6:06).Prequalification for the contract closed in January. Prospective bidders include: Royal Boskalis Westminster of the Netherlands; Athens-based Consolidated Contractors International Company (CCC) with Turkeys STFA; the US Great Lakes Dredge

  • Dutco wins more quay work at the Lagoons

    Local real estate developer Sama Dubai, part of Dubai Holding, has awarded the local/UK Dutco Balfour Beatty the AED 80 million ($22 million) quay wall contract for areas 2 and 3 at the Lagoons development, formerly known as the Seven Pearls. It is the second package awarded to Dutco at the Lagoons. The contractor is working on the quay wall package for the central island at the heart of the development (MEED 19:5:06).

  • Economic growth slows

    Real gross domestic product (GDP) growth slowed to 8.2 per cent in 2005, down from 9.7 per cent the previous year, the Central Bank of the UAE said in its statistical bulletin for the first quarter of the year. Real GDP reached AED 357,590 million ($79,356 million), while nominal GDP rose by 26 per cent to AED 485,510 million ($132,183 million).

  • Economic Indicators

  • Economic Indicators

  • Economic Indicators

  • Economic Indicators

  • Economy : How to continue growth

    The Planning Council has been doing its fair share of number crunching recently. In June, it released preliminary gross domestic product (GDP) data for last year and its final estimate for 2004. Two months later, it was at it again, revising upwards its GDP figures for 2001-05 and for the first time in years, issuing real as well as nominal economic data. The increased activity reflects a concerted effort by the authorities to improve macro-economic reporting and transparency: it also shows t

  • ECONOMY: A tale of two cities

    Wander into any coffee shop in Dubai and the main topic of conversation will be costs. Everyone seems to be affected, from housewives grumbling about rising grocery prices and rocketing rents to businessmen moaning about labour costs and indirect taxation. In Abu Dhabi, the mood couldn't be more different. People chat excitedly about the scale and plausibility of the AED 200,000 million worth of new projects that have been launched over the past 18 months. The scene is reminiscent of Dubai th

  • ECONOMY: An almost cloudless sky

    'We still believe this boom is only beginning,' says Samba Financial Group in its latest biannual economic report, published in August. With nominal gross domestic product (GDP) expected to expand by 20 per cent in 2006, the news could hardly be better. And even the problems typically affecting economies growing at such a frenetic pace have so far been muted in their impact.

  • EFG shareholders approve Abraaj offer

    Shareholders approved on 3 September an offer from UAE-based Abraaj Capital for a 25 per cent stake in the local EFG-Hermes. Abraaj will pay£E 30 ($5.15) a share in a deal worth£E 2,900 million ($506 million), making it the single largest shareholder in the company. Other shareholders in EFG-Hermes include the local Medinvest Associates and Citibank and Schroder Salomon Smith Barney (SSSB MEED 28:7:06).

  • Egypt bids farewell to Nobel writer

    Naguib Mahfouz, writer and winner of the 1988 Nobel Prize for Literature, died in hospital in his native Cairo on 30 August. Medical reports said that head injuries sustained by the 94-year-old in a domestic fall in July had recently deteriorated and eventually the writer died of serious internal haemorrhaging. During a lifetime of writing, Mahfouz published more than 30 novels, though he remained best known for the three books popularly known as the Cairo Trilogy, which h

  • Egypt bids farewell to Nobel writer

    Naguib Mahfouz, writer and winner of the 1988 Nobel Prize for Literature, died in hospital in his native Cairo on 30 August. Medical reports said that head injuries sustained by the 94-year-old in a domestic fall in July had recently deteriorated and eventually the writer died of serious internal haemorrhaging. During a lifetime of writing, Mahfouz published more than 30 novels, though he remained best known for the three books popularly known as

  • Egypt Cabinet

    Egyptian President Mubarak on 27 August implemented a minor cabinet reshuffle following the resignation of the justice minister Mohammed Abu al-Leil 10 days earlier. Mamdouh Marai, head of the Supreme Constitutional Court took over the justice portfolio from Al-Leil. Marai led the Presidential Election Commission which oversaw the country's first presidential elections in September. Mohammed Mahgoub replaced Othman Mohammed Othman as planning minister. Othman was given the newly founded

  • Egypt Cabinet

    PresidentHosni Mubarak PremierAhmed Nazif Agriculture & Land ReclamationAmin Ahmad Abaza Awqaf & Religious AffairsMahmoud Hamdy Zaqzouq Civil AviationAhmed Shafiq Communications & Information TechnologyTarek Kamel CultureFarouq Hosni Defence & Military ProductionField Marshall Mohamed Hussain Ta

  • Egypt to generate nuclear power

    Egypt will resume its civilian nuclear power programme which it suspended in 1986 following the Chernobyl nuclear disaster, Energy Minister Hassan Younes told the Al-Ahram daily newspaper on 25 September. The ministry plans to build a power plant at Al-Dabaa on the Mediterranean coast within 10 years. The government has said it will invite foreign investors to finance the 1,000-MW plant, which is expected to cost $1,500 million.The government's supreme council a day earlie

  • Egypt to generate nuclear power

    Egypt will resume its civilian nuclear power programme which it suspended in 1986 following the Chernobyl nuclear disaster, Energy Minister Hassan Younes told the Al-Ahram daily newspaper on 25 September. The ministry plans to build a power plant at Al-Dabaa on the Mediterranean coast within 10 years. The government has said it will invite foreign investors to finance the 1,000-MW plant, which is expected to cost $1,500 million.The government's s

  • Egypt to rebuild Gaza plant

    Egypt signed in late August an agreement with the Palestinian Energy & Natural Resources Authority for restoration of the substation serving the Gaza independent power plant.

  • Egypt-brokered prisoner swap may emerge

    Palestinian Authority Prime Minister Ismail Haniya on 3 September confirmed that Egypt was mediating in discussions with Israel over a possible prisoner swap. 'The Egyptians are making a lot of efforts, he said. 'There are certain things going on to solve this question, but there is nothing specific.'On the same day, Israeli daily Yedioth Ahronot reported that under the Egypt-brokered talks Tel Aviv could relese up to 800 Palestinian prisoners in return for the freedom of

  • Egyptian trains collide again

    A passenger train collided with a cargo train on 4 September near the town of Shibin al-Qanater, north of Cairo, in the second rail accident in the country in as many weeks. At least five people were killed and 30 were injured in the accident. The cause of the collision was not clear, but security sources told Reuters news agency that the trains were travelling in opposite directions on one track when they collided head-on. On 21 August, 58 people were killed when two pass

  • Eight die in Baghdad bomb

    At least eight people were killed and 46 were wounded by a car bomb in Baghdad's northern district of Qahira. The remote-controlled bomb exploded on a busy road. A second roadside bomb detonated as police arrived at the scene, but did not cause further casualties. Separately, police in Baghdad said they had found the bodies of 19 people who had been shot dead. The bodies showed signs of torture. The latest violence comes one day after the Iraqi parliament extended the state of emergency

  • Eight sentenced for anti-West plots in Jordan

    A Jordanian state security court on 13 September sentenced eight Islamists to 10-20 years in prison for planning to attack Americans visiting the country. The eight were convicted of 'conspiring to carry out terrorist acts and of illegal possession of automatic weapons,' in two planned attacks on US nationals which were thwarted by security forces. The men allegedly planned to kill tourists as well as American instructors heading to a US-funded police training centre in Am

  • Eight sentenced for anti-West plots in Jordan

    A Jordanian state security court on 13 September sentenced eight Islamists to 10-20 years in prison for planning to attack Americans visiting the country. The eight were convicted of 'conspiring to carry out terrorist acts and of illegal possession of automatic weapons,' in two planned attacks on US nationals which were thwarted by security forces. The men allegedly planned to kill tourists as well as American instructors heading to a US-funded p

  • Emaar gets an education

    Emaar Education, a wholly-owned subsidiary of the local Emaar Properties, has acquired Singapore-based education provider Raffles Campus. Raffles manages educational institutions in Singapore, Indonesia, Hong Kong and Vietnam. It will operate 100 new education facilities, including international schools.

  • Emaar Industries broadens horizons

    A consortium made up of Emaar Industries & Investments (EII), a subsidiary of Dubai-based real estate developer Emaar Properties and Zabeel Investments and Prime Investments, both local, has acquired Sharjah-based Advanced Industries Group (AIG). Through various entities, AIG manufactures furniture, fit-outs and piping systems. The acquisition is the latest by Emaar in its efforts to diversify the company's portfolio as it bids to become a global firm.

  • Emaar tenders for Burj Dubai

    Local property developer Emaar Properties has invited contractors to bid for three new residential tower contracts within the estimated $20,000 million Burj Dubai scheme. The projects are due to be completed by 2008/9.

  • Emirates Steel PIM due

    Confidentiality documents were sent to a wide range of banks in late August on participation in the financing of the expansion of the Emirates Iron & Steel plant owned by Abu Dhabi government-owned General Holding Corporation (GHC). The preliminary information memorandum (PIM) is due to be issued by mid-September.

  • Empower picks consultants

    Emirates Central Cooling Systems Corporation (Empower) has appointed the local Allied Consultants to design four district cooling plants for Dubai Internet City, Dubai Media City and Dubai Knowledge Village. The plants will deliver 120,000 tonnes of refrigeration to more than 700,000 square metres of office space.

  • ENVIRONMENT: Mopping up

    While the details of a settlement to the conflict in Lebanon are thrashed out by the international community, the people of the ancient port town of Byblos are having to pick up the pieces. The harbour, rocks and beaches of the town were covered with oil after an Israeli air strike on Jieh power plant, south of Beirut, unleashed 10,000-35,000 tonnes of heavy fuel oil into the Mediterranean sea. Removing it from the sea and the coastline has been a dirty job.'We dont know exactly how much

  • EoIs issued for Dubai chamber of commerce

    The Dubai Chamber of Commerce & Industry (DCCI) has invited expressions of interest (EoIs) by 17 September from about eight Dubai-based contractors for its second Deira building complex project. The scheme, expected to go for tender in early 2007, will see the construction of a 20-storey and a 27-storey tower at the existing DCCI site. Both will be linked by a podium to the chambers current building. In addition, a three-storey car park, with space for a 1,000 vehicles, will be built on the oppo

  • EU and Iran continue nuclear talks

    EU and Iranian negotiators failed on 28 September to reach an agreement over the proposed suspension of uranium enrichment, although both sides suggested diplomatic efforts could continue next week. EU foreign policy chief Javier Solana said that 'important issues have not yet been closed'. The current talks in Berlin are formally pre-negotiations designed to allow the two sides to return to full negotiations. 'It has been a long, constructive negotiation,' said chief Iranian n

  • EU meets to discuss Palestine

    EU foreign affairs ministers met on 15 September to discuss the international aid embargo on the Palestinian Territories in light of an agreement on the formation of a unity government. France has said the decision to form a coalition should lead to a rethink of the restrictions imposed after Hamas won parliamentary elections in January. A 'Palestinian government of national unity should lead to a re-examination of the policies of the international community toward the Palestinian govern

  • EU meets to discuss Palestine

    EU foreign affairs ministers met on 15 September to discuss the international aid embargo on the Palestinian Territories in light of an agreement on the formation of a unity government. France has said the decision to form a coalition should lead to a rethink of the restrictions imposed after Hamas won parliamentary elections in January. A 'Palestinian government of national unityshould lead to a re-examination of the policies of the international community toward the Palestini

  • EU Tehran talks postponed

    Planned talks between Tehran and the EU have been postponed, an Iranian envoy said on 6 September. The talks, concerning Tehran's nuclear programme, are now likely to take place after a meeting of the UN powers on 7 September. The UN discussions will be the first since Moscow announced it was prepared to consider supporting the imposition of economic sanctions on Iran should it continue to deft UN resolutions. Tehran refused to stop uranium enrichment despite a UN deadline set for 31 Aug

  • EU to resume Middle East peace talks

    Finland, current holding the presidency of the EU, will propose resuming peace talks in the Middle East, Foreign Minister Erkki Tuomioja said in an interview with FT Deutschland on 31 August. He is due to put the idea to EU foreign ministers at an informal two-day meeting which starts on 1 September. Tuomioja stressed the need for the EU to change its policy and be prepared to enter into talks with all 'relevant' parties in order to resuscitate the Middle East peace process. 'Hamas is no

  • Europeans acquire regional wireless leader

    A group of European investors acquired in late August local wireless internet technology provider TheWayOut from company owner and chairman Tamer Ahmed. The sale was valued at $130 million and involved the creation of a UK-based investment vehicle, Morgan, with an initial capital of $300 million. Morgan will hold an unspecified majority of shares in TheWayOut. Fadi el-Gendi, vice-president of the company, says the investment constitutes a necessary first step for TheWayOut to meet its plans for

  • EXPLORATION TECHNOLOGY: Drilling down to the data

    Based at a remote oil field in the Eastern Province, a technician notices a disruption and quickly contacts headquarters, tapping the details into his laptop. Vital information is swiftly channelled from wellhead to plant floor to boardroom, enabling the international oil company (IOC) to address supply problems and react immediately.

  • EXPLORATION TECHNOLOGY: Drilling down to the data

    Based at a remote oil field in the Eastern Province, a technician notices a disruption and quickly contacts headquarters, tapping the details into his laptop. Vital information is swiftly channelled from wellhead to plant floor to boardroom, enabling the international oil company (IOC) to address supply problems and react immediately.

  • Explosions rock Aden

    Two people were killed and several injured in explosions which rocked the port city of Aden on 6 September. Officials said the blasts in the Jabal Hadid area were the result of an explosion in an old weapons depot, which was caused by heat and friction.

  • Export & Finance chooses Capital

    The local Capital Bank, formerly known as Export & Finance Bank, announced on 3 September its new corporate name. The rebranded bank, which has a capital of JD 116 million ($165 million), recorded net profits in the first quarter of JD 10 million ($14.2 million).

  • FI deals clear the market

    Syndication has closed heavily oversubscribed on two GCC financial institution (FI) syndicated borrowings, while a third has been launched to the market.

  • FI syndications completed

    Kuwait Finance Investment Company has signed a $100 million syndicated loan, lead arranged by Standard Chartered Bank (SCB). The three-year facility was increased in size from $50 million due to subscriptions of about $110 million (MEED 8:9:06).

  • Financial institutions reach for Riyadh

    EFG-Hermes is set to start brokerage operations in Saudi Arabia from early December as a precursor to the full commercial launch of its newly established, Riyadh-based subsidiary EFG-Hermes Saudi Arabia. The new investment banking subsidiary is under incorporation and hopes to receive its commercial register approval by the end of September, with an official launch in early 2007. The Capital Market Authority has also granted Rasmala Investments (Saudi Arabia), a subsidiary of Dubai-based Rasmala

  • Financing: Funding knowledge

    Qatar Science & Technology Park (QSTP) has unveiled two initiatives aimed at bridging the gap between academic research and big business. The first centres on two venture capital funds to assist start-ups. The other involves the creation of a grant programme to help researchers develop their ideas into marketable products.

  • Firms sit by Waterfront

    Two major awards have been made on the Dubai Waterfront development, which now incorporates Palm Jebel Ali. Launched in late 2004, the project will be built on the last remaining stretch of coastline before the Abu Dhabi border. The overall development comprises 10 districts covering an area of 440 square kilometres, almost three times the size of Washington DC (MEED 5:5:06).

  • First sukuk planned

    Qatar Islamic Bank (QIB) is preparing a feasibility study on the issuance of the countrys first sukuk. 'The study is expected to be completed by November,' says Jamil Jaroudi, deputy general manager of Beirut-based Arab Finance House (AFH), a subsidiary of QIB. 'Since each sukuk must be asset-backed QIB has met Banque du Liban [central bank] to agree on what type of assets to pledge or sell.' The sukuk is expected to raise $250 million-$300 million to finance government projects. 'The financing

  • Fitch positive about Bahrain

    Fitch has upgraded Bahrain's foreign currency and local currency issuer default outlooks to positive from stable. The upgrade reflects continued high oil prices, diversification of the economy led by the development of the financial sector and reduced political risk, the agency said in a statement. The rating agency also affirmed Bahrain's A- long-term foreign currency debt rating, A long-term local currency debt rating and short-term debt rating of F1.

  • Five Palestinians killed in Gaza

    Israeli troops killed five Palestinians in Gaza on 21 September in the worst violence in the territory in recent weeks. A 35-year-old woman and an armed man were shot during a raid on an alleged militant hideout in Rafah, and three men were killed in northern Gaza. The Israeli army said the men were handling a rocket launcher. Hamas has welcomed a statement by the Quartet of Middle East mediators in support of Palestinian efforts to form a national unity government. The UN

  • Five Palestinians killed in Gaza

    Israeli troops killed five Palestinians in Gaza on 21 September in the worst violence in the territory in recent weeks. A 35-year-old woman and an armed man were shot during a raid on an alleged militant hideout in Rafah, and three men were killed in northern Gaza. The Israeli army said the men were handling a rocket launcher. Hamas has welcomed a statement by the Quartet of Middle East mediators in support of Palestinian efforts to form a nation

  • FL Smidth cements machinery award

    Denmarks FL Smidth announced in late August that Sinai Cement Company had awarded it a contract to supply and install machinery on the new production line at its cement plant south of El-Arish. The contract, worth $54.8 million, covers all the machinery and parts for the new 4,200-tonne-a-day production line. Work has already started on the line and it is expected to become fully operational by late 2008 (MEED 21:10:05).

  • FLOWSERVE BOX: Going with the flow

    The thinking behind the Dhahran project is simple, explains Jim Hamilton, regional director of sales and operations at US joint venture partner Flowserve.'We believe the region will move towards outsourcing the management of their assets, because end-users are expanding at such a pace and adding so much equipment that they face two options either hire a lot of additional people to look after their equipment, or focus on the core business. With the region looking more towards outsourcing

  • Foster Wheeler studies Fujairah refinery

    US-based Foster Wheeler has carried out a pre-front-end engineering and design (FEED) study for the grassroots refinery at Fujairah on the east coast. The 500,000-barrel-a-day facility will be developed jointly by the US ConocoPhillips and International Petroleum Investment Company (IPIC), the investment arm of the Abu Dhabi government. In late July, both parties announced the signing of a heads of agreement to carry out a feasibility study for the project. Feedstock for the refinery will be sou

  • Fourth embassy bombing suspect dies

    The fourth man involved in the attempted car bomb attack on the US embassy in Syria died as a result of his injuries, Syrian authorities said on 13 September. Local media reports said officials were unable to interrogate the last surviving suspect before he died. Three other attackers were killed by security forces at the scene of the attack. The official Syrian Arab News Agency said that all four men were Syrians. The US has thanked Syria for foiling the attack. No on has

  • Fourth embassy bombing suspect dies

    The fourth man involved in the attempted car bomb attack on the US embassy in Syria died as a result of his injuries, Syrian authorities said on 13 September. Local media reports said officials were unable to interrogate the last surviving suspect before he died. Three other attackers were killed by security forces at the scene of the attack. The official Syrian Arab News Agency said that all four men were Syrians. The US has thanked Syria for fo

  • Fourth line for QNCC

    Qatar National Cement Company (QNCC) has awarded France's FCB Ciments the turnkey contract to build its fourth production line at its Umm Bab complex. The QNCC line is one of two new production facilities planned as Doha seeks to address its severe cement shortage (MEED 2:6:06).

  • Fourth round of prices for Bu Attifel

    Three shortlisted contractors have been invited to submit final prices by late September for the estimated $50 million contract to upgrade production facilities at the Bu Attifel oil field in the east Sirte basin. Germanys MAN Ferrostaal, an Italian team of Bonatti and Those, and UAE-based Petrofac International were shortlisted to participate in a third round of commercial offers in mid-2006, but the prices were not acceptable to the client, Agip Oil, as they came in above budget. The project i

  • France discourages Iran sanctions

    French President Chirac on 18 September urged the international community to avoid imposing sanctions against Iran and instead to pursue negotiations. 'I am not pessimistic,' he told Europe-1 radio. 'I think that Iran is a great nation and that we can find solutions through dialogue.' The US is pressing for the UN Security Council to impose sanctions on the Islamic republic after it ignored a 31 August deadline to halt uranium enrichment. Several European countries prefer

  • France discourages Iran sanctions

    French President Chirac on 18 September urged the international community to avoid imposing sanctions against Iran and instead to pursue negotiations. 'I am not pessimistic,' he told Europe-1 radio. 'I think that Iran is a great nation and that we can find solutions through dialogue.' The US is pressing for the UN Security Council to impose sanctions on the Islamic republic after it ignored a 31 August deadline to halt uranium enrichment. Several

  • French firm to build QNCCs fourth line

    Qatar National Cement Company (QNCC) signed on 10 September the two key contracts on its estimated QR 800 million ($213 million) fourth line project. Frances FCB Ciments has the turnkey contract to build the 5,000-tonne-a-day (t/d) line at the Umm Bab complex, while Belgiums Basse Sambre Eri has been appointed consultant. Both companies have been involved in QNCCs third line project, which is at the commissioning stage.Due to be completed in 27 months, the fourth line will take Q

  • French hostages released in Yemen

    Four French tourists held hostage by Yemeni tribesmen were released on 25 September, said Awad Bazir, an MP involved in negotiations over their freedom. 'After hard and trying negotiations throughout the night, an agreement was reached to free the hostages,' he told the Associated Press. Members of the Al-Abdullah tribe in Shabwa province abducted the four on 10 September. The kidnappers had demanded the release of jailed family members in return for the tourists' freedom. Bazir did not

  • French hostages released in Yemen

    Four French tourists held hostage by Yemeni tribesmen were released on 25 September, said Awad Bazir, an MP involved in negotiations over their freedom. 'After hard and trying negotiations throughout the night, an agreement was reached to free the hostages,' he told the Associated Press. Members of the Al-Abdullah tribe in Shabwa province abducted the four on 10 September. The kidnappers had demanded the release of jailed family members in return for the tourists' freedom. Bazi

  • French to design Al-Raha public structures

    Local property developer ALDAR Properties has appointed Paris-based RFR to design the public realm structures at its AED 55,000 million ($15,000 million) Al-Raha Beach development. RFR's brief includes the design of bus, water and light rail train (LRT) stations, pedestrian bridges and flyovers along 9 kilometres of beachfront. Construction of the entire Al Raha Beach public realm is scheduled for completion in July 2009. US-based Maunsell Aecom is the infrastructure design and construction m

  • French tourists abducted in Yemen

    Four French tourists and their local translator were kidnapped on 10 September by armed tribesmen in the Shabwa province in eastern Yemen. Officials said the tourists were seized while travelling in a convoy. The kidnappers have demanded the release of family members from prison. The Yemeni government is trying to secure the release of the abductees. Members of the Al-Abdullah bin Daham tribe also kidnapped a former German diplomat and four members of his family hostage in

  • French tourists abducted in Yemen

    Four French tourists and their local translator were kidnapped on 10 September by armed tribesmen in the Shabwa province in eastern Yemen. Officials said the tourists were seized while travelling in a convoy. The kidnappers have demanded the release of family members from prison. The Yemeni government is trying to secure the release of the abductees. Members of the Al-Abdullah bin Daham tribe also kidnapped a former German diplomat and four membe

  • Fujairah IWPP finance delayed

    Selected banks have been approached for a second time about joining the debt package on the Fujairah independent water and power project (IWPP), after the original approach to some 15 banks failed to elicit a strong response. It is understood that the fees on the main commercial tranche have been raised to about 75 basis points (bp) from the 60 bp originally on offer.The margin on the $1,275 million, 22-year loan starts at 70 bp pre-completion, rising to 65 bp post-completion to year eig

  • Fujairah IWPP finance delayed

    Selected banks have been approached for a second time about joining the debt package on the Fujairah independent water and power project (IWPP), after the original approach to some 15 banks failed to elicit a strong response. It is understood that the fees on the main commercial tranche have been raised to about 75 basis points (bp) from the 60 bp originally on offer.

  • Gaddafi warns against political change

    Libyan leader Muammar Gaddafi on 31 August urged his supporters to 'kill enemies' who call for political reform. Gaddafi was speaking on the eve of the 37th anniversary of the revolution which brought him to power. 'Thanks God our revolution has won and the whole world accepts our revolutionary project as it benefits all people across the world,' he said. 'Our enemies have been crushed inside Libya and you have to be ready to kill them if they emerge anew.'Observers had

  • Gamal Mubarak proposes Arab vision

    Egyptian President Mubarak's son Gamal on 19 September said Egypt must put forward an Arab political vision for the Middle East, not one imposed by the West. Gamal Mubarak, who many expect will succeed his father as president, was speaking at the start of the ruling National Democratic Party's (NDP) annual conference. 'We reject these foreign ambitions to erase Arab identity in the framework of what they call the Greater Middle East initiative,' he said. Mubarak also calle

  • Gas exports on the rise

    Natural gas exports topped 39.9 million tonnes in 2005/06, according to Egyptian Natural Gas Holding Company (EGAS). However, EGAS, which exports primarily to France and Spain, expects to sell an extra 3.5 million tonnes in 2006/07, in addition to 540,000 tonnes of propane, 1.4 million tonnes of butane and 41 million barrels of condensates. EGAS also said that new natural gas reserves of 5 trillion cubic feet had been discovered since 2000 and announced that, together with its partners, it plans

  • Gaza damages assessed

    The UNDP's Programme of Assistance to the Palestinian People (PAPP) in early September released initial findings of an assessment of damages in Gaza.

  • Gaza damages assessed

    The UNDPs Programme of Assistance to the Palestinian People (PAPP) in early September released initial findings of an assessment of damages in Gaza.

  • Gaza roads blocked by unpaid policemen

    Hundreds of Palestinian security officers blocked main roads in Gaza City on 28 September in protests over unpaid salaries. Traffic was stopped as rubbish bins were overturned, rifles fired into the air and concrete paving smashed by the policemen. Many belonged to security service groups loyal to Palestinian Authority President Mahmoud Abbas. Abbas is involved in stalled negotiations with Hamas leader Ismail Haniya over the formation of a unity government. 'Our protest is not

  • GCC bond issues near

    Roadshows for the planned sukuk issue by Sharjah Islamic Bank are due to be launched in the region on 17 September. HSBC is the sole lead arranger and bookrunner (MEED 25:8:06).Investor presentations will be staged in Manama, Dubai, London, Frankfurt and Kuala Lumpur. The sharia-compliant instrument is likely to be worth about $200 million and will have a tenor of five years. US credit rating agency Standard & Poors has assigned the paper a BBB preliminary rating.A growing pipeli

  • GCC leaders debate central bank

    Discussions are under way on the structure of a transitional authority and eventually a common central bank to oversee the planned GCC single currency, due to come into force in 2010.Central bank governors, meeting in Abu Dhabi in September, assessed the findings of a study commissioned from the Frankfurt-based European Central Bank (ECB) on legislative and institutional rules for the body (MEED 7:4:06).It has been decided that a transitional authority will

  • GCC leaders debate central bank

    Discussions are under way on the structure of a transitional authority and eventually a common central bank to oversee the planned GCC single currency, due to come into force in 2010.

  • GdF moves in, Woodside reviews reserves

    Gaz de France (GdF) has strengthened its position in Mauritania with an agreement to develop the country's liquefied natural gas (LNG) potential and acquire stakes in offshore exploration blocks. The signing came as Australia's Woodside Petroleum moved to review reserves on the Chinguetti field after production fell by 50 per cent only four months after coming on stream.

  • GE, HHI win Subiya

    The US/Korean consortium of General Electric (GE) and Hyundai Heavy Industries (HHI) has won the contract to build the Subiya power plant in northern Kuwait. The client, the Ministry of Energy (Electricity & Water), is expected to sign the contract soon.

  • Germany authorises Lebanon naval force

    The German Bundestag (parliament) on 20 September authorised the deployment of warships and 2,400 navy personnel to police Lebanese waters as part of a UN peacekeeping force. The German contingent will patrol the Eastern Mediterranean to ensure that weapons cannot reach Hezbollah militants. Germany's contribution to the UN force is the second largest after Italy, which is sending 3,000 troops. However, Germany will not send ground forces to southern Lebanon (

  • Germany authorises Lebanon naval force

    The German Bundestag (parliament) on 20 September authorised the deployment of warships and 2,400 navy personnel to police Lebanese waters as part of a UN peacekeeping force. The German contingent will patrol the Eastern Mediterranean to ensure that weapons cannot reach Hezbollah militants. Germany's contribution to the UN force is the second largest after Italy, which is sending 3,000 troops. However, Germany will not send ground forces to south

  • GIB re-fi for OGC

    Gulf International Bank (GIB) has arranged a $234 million loan for Oman Gas Company (OGC). The loan has a tenor of six years and a margin of 50 basis points over Libor. It refinances the outstanding balance of a $410 credit facility granted to OGC in 2000, on which GIB was the mandated lead arranger and sole underwriter, facility agent and security trustee.

  • GIB re-fi for OGC

    Gulf International Bank (GIB) has arranged a $234 million loan for Oman Gas Company (OGC). The loan has a tenor of six years and a margin of 50 basis points over Libor. It refinances the outstanding balance of a $410 credit facility granted to OGC in 2000, on which GIB was the mandated lead arranger and sole underwriter, facility agent and security trustee.Other participating banks are Arab Bank, Bank Dhofar, Bank Muscat, Calyon, Mizuho Corporate Bank, National Bank of Oman, Oman Ara

  • Gippsland announces golden prospects

    Australias Gippsland announced on 29 August drilling results for four gold prospects in its Wadi Allaqi field. Gippsland said gold had been found in high-grade shoots at a rate of 18.65 grammes a tonne (g/t) in its Seiga, Shashoba, Haimur and Garayat prospects. Test drilling at Haimur also revealed an 800-metre long minerals zone and, in one drill hole, gold was present 28 metres from the surface at a quantity of 2.27 g/t. The encouraging results and presence of high-grade shoots will necessitat

  • Global loan flies

    Global Investment House has signed a $75 million syndicated loan facility, lead-arranged by West LB. The borrowing was increased in size from $50 million due to oversubscription. The tenor is three years. Joining at syndication were Abu Dhabi Commercial Bank and State Bank of India as co-arrangers, Bank Muscat, Emirates Bank International, Persia International Bank, Tunis International Bank and Union National Bank as lead managers, and Hua Nan Commercial Bank, Attijariwafabank, Banque BIA and Jo

  • Global takes stake in Al-Quds

    Global Investment House (Global) has acquired a 30 per cent strategic stake in Al-Quds Bank for Development and Investment, doubling its capital to $50 million. The bank will use the increase in capital to grow its branch network and broaden its portfolio of retail services. Global acquired 15 million shares at a price of $1.20 a share. A further 10 million shares will be offered in a rights issue to existing shareholders. Al-Quds will retain 25 million shares. Global acquired more than 1 mil

  • Global takes stake in Al-Quds

    Global Investment House (Global) has acquired a 30 per cent strategic stake in Al-Quds Bank for Development and Investment, doubling its capital to $50 million. The bank will use the increase in capital to grow its branch network and broaden its portfolio of retail services. Global acquired 15 million shares at a price of $1.20 a share. A further 10 million shares will be offered in a rights issue to existing shareholders. Al-Quds will retain 25 million shares. Global acquired more than 1 mi

  • Gohar Zamin project delayed again

    The bid deadline has again been extended to 22 October for the two main engineering, procurement and construction (EPC) contracts on the Gol-e Gohar mining, iron and steel complex. Prospective bidders are understood to include Finlands Outokumpu, Chinas Metallurgical Construction Company and Indias Essar Steel. The scope of works covers the construction of five iron ore concentration production plants of 2 million tonnes a year (t/y) each and two 5 million-t/y high-grade direct reduction iron or

  • Grove gets go-ahead

    Exploration and prospecting plans outlined by UK-listed Grove Energy for the Kerkouane and Chorbane fields were approved by Tunis in late August. Groves exploration permit on the 6,270-square-kilometre offshore Kerkouane field calls for the drilling of a well to a depth of 2,700 metres, while its prospecting permit on the 2,428-square-kilometre onshore Chorbane field involves the acquisition of 200 kilometres of 2D seismic. The Kerkouane find, which includes the undeveloped Dougga gas condensate

  • Gulf Capital gets real

    Abu Dhabi-based investment firm Gulf Capital plans to launch a real estate division in 2007 to invest in property in the region. 'A lot of our shareholders have property they want to monetise,' says Gulf Capital chief executive officer Karim el-Solh. 'It makes sense to cross-sell. We will buy, develop and own property.'

  • Gulf Capital gets real

    Abu Dhabi-based investment firm Gulf Capital plans to launch a real estate division in 2007 to invest in property in the region. 'A lot of our shareholders have property they want to monetise,' says Gulf Capital chief executive officer Karim el-Solh. 'It makes sense to cross-sell. We will buy, develop and own property.'The company has a paid-up capital of AED 1,250 million ($340 million), which it invests on behalf of some 300 shareholders in businesses in the GCC, typically late-stage b

  • Gulftainer takes first overseas port

    Sharjah-based Gulftainer has secured its first overseas management contract.

  • Gulftainer takes first overseas port

    Sharjah-based Gulftainer has secured its first overseas management contract.The 15-year agreement with the government of the Comoros Islands will see Gulftainer operate, manage and upgrade the ports of Moroni and Mutsamudu. It will start managing and operating Moroni port immediately, followed by Mutsamudu port in 2007.

  • Gunman kills Briton in Amman

    A Jordanian gunman on 4 August opened fire killing a Briton and injuring two British women, an Australian, a New Zealand national and a Dutchman. The shooting occurred at the Roman amphitheatre in the centre of the Jordanian capital. Jordanian government spokesperson Nasser Joudeh told Reuters news agency that the gunman was a Jordanian who was arrested following the incident. Intitial reports had said the assailant was an Iraqi national. 'The Jordanian culprit is being interro

  • HADEED: Preparing reinforcements

    The regional steel industry is going through something of a purple patch. With more than $1 trillion worth of construction projects planned or under way in the GCC alone, demand for steel products has grown to unprecedented levels. And with oil prices set to remain above $50 a barrel for the foreseeable future, producers are confident that the good times will remain for some time to come.

  • HADEED: Preparing reinforcements

    The regional steel industry is going through something of a purple patch. With more than $1 trillion worth of construction projects planned or under way in the GCC alone, demand for steel products has grown to unprecedented levels. And with oil prices set to remain above $50 a barrel for the foreseeable future, producers are confident that the good times will remain for some time to come.

  • Hajj terminal work held up

    The General Aviation Civil Authority (GACA) has extended the bid deadline for two major contracts at the multi-billion dollar King Abdulaziz Airport redevelopment in Jeddah. Nine prequalified consortiums now have until 16 October to submit technical and commercial proposals for the build-operate-transfer (BOT) concession at the Hajj terminal. Eight international and local firms have now been invited to submit technical and commercial bids by November for the contract to provide project and const

  • Hamas vows no recognition of Israel

    Hamas has said it will not join a national unity government if recognition of Israel's right to exist is a condition. 'I personally will not head any government that recognises Israel,' Palestinian Authority (PA) Prime Minister Ismail Haniya told the congregation at a Gaza City mosque on 22 September. Earlier, Ahmed Youssef, a political adviser to Haniya, said Hamas would instead be willing to enter into a truce with Israel. 'Our position to solve the crisis is a 10-year truce which will

  • Help on hand for water and IT sectors

    Two loans have been signed to support the water sector and the development of IT services. Kuwait-based Arab Fund for Economic & Social Development (AFESD) has signed a loan for MD 450 million ($52 million) to develop the public sector use of IT. The loan has a tenor of 22 years, including a four-year grace period, and a margin of 4.5 per cent. The European Commission has also granted the $70 million second instalment of a $115 million loan to improve water management in line with a framework la

  • Hezbollah fighters go on trial in Israel

    Israel on 18 September filed criminal charges against three Hezbollah fighters which it captured during its military campaign in Lebanon. The men were allegedly involved in the 12 July attack on Israeli army post in which two Israeli soldiers were abducted. They have been charged with murder, attempted murder and belonging to a terrorist organisation. A state-appointed lawyer said the men would contest the charges. 'Our clients do not deny being Hezbollah figures,' Smadar

  • Hezbollah fighters go on trial in Israel

    Israel on 18 September filed criminal charges against three Hezbollah fighters which it captured during its military campaign in Lebanon. The men were allegedly involved in the 12 July attack on Israeli army post in which two Israeli soldiers were abducted. They have been charged with murder, attempted murder and belonging to a terrorist organisation. A state-appointed lawyer said the men would contest the charges. 'Our clients do not deny being

  • Hezbollah guilty of war crimes, says Amnesty

    London-based human rights group Amnesty International on 14 September accused Hezbollah of committing war crimes during conflict with Israel. Hezbollah fired nearly 4,000 rockets into northern Israel during the 34-day war, killing 43 civilians. 'Hezbollah's rocket attacks on northern Israel amounted to deliberate attacks on civilians and civilian objects, as well as indiscriminate attacks, both war crimes under international law,' the report said. Hezbollah rejected the comments, saying

  • HHI to reinject Umm Shaif

    Abu Dhabi Marine Operating Company (Adma-Opco) has awarded South Korea's Hyundai Heavy Industries (HHI) the main contract for the Umm Shaif gas reinjection project in offshore Abu Dhabi (MEED 21:7:06).

  • High Rise raises Emirates Flag

    A consortium led by local property developer High Rise Real Estate plans to build an estimated AED 7,000 million ($1,900 million) mixed-use development in Ras al-Khaimah free zone. Known as Emirates Flag, the project involves the construction of a waterfront development with 21 towers.

  • Hikma completes Jazeera deal

    London-based Hikma Pharmaceuticals completed in mid-September the acquisition of Riyadh-based Jazeera Pharmaceutical Industries (JPI), the first pharmaceutical company in the GCC to receive US Food & Drug Administration (FDA) approval. In a deal worth $21 million, Hikma, which already held a 47.8 per cent holding in JPI, acquired the remaining 52.2 per cent holding from private Saudi investors. The company announced in mid-September its first-half results, reporting a 9.9 per cent rise in net pr

  • Housing Bank expands branch network

    Housing Bank for Trade & Finance (Housing Bank) will expand its network in Gaza and the West Bank by the end of the year. The Jordan bank will open five new branches in Khan Younis, Jenin, Bir Zeit, Bethlehem and Halhoul. The bank already has five branches in Ramallah, Nablus, Hebron and Gaza. Housing Bank also has subsidiary banks in Algeria and Syria as well as subsidiary offices in Abu Dhabi, Tripoli and Baghdad.

  • HSBC picks commercial head

    HSBC Bank Middle East has appointed Keith Bradley as regional head of commercial banking. He replaces John Blanthorne who will take up a post as executive director of the bank.

  • Huawei takes TE work

    China's Huawei announced on 20 August the award of a contract to supply Telecom Egypt with dense wavelength division multiplexing (DWDM) technology. The technology allows multiple video, audio and data channels to be transmitted over a single fibre. Huawei's DWDM technology is already in use in the UAE, Saudi Arabia, Oman, Tunisia, Algeria and Morocco.

  • Hunt still on for third refinery partner

    The Petroleum & Mineral Resources Ministry is looking for a strategic partner for its planned grassroots 140,000-barrel-a-day (b/d) refinery at Deir al-Zor, in the east, after rejecting a proposal from Russias Credit Line. 'The [Credit Line] proposal is cancelled,' says a senior ministry official. 'However, the minister is still looking for strategic partners and is considering offers from other international oil companies [IOCs] and financial institutions.' The official did not divulge further

  • Hyder acquires ACLA

    The UKs Hyder Consulting has acquired Hong Kong-based masterplanning and landscaping consultancy ACLA. ACLA is working on a number of projects across the region, including the City of Arabia development in Dubailand, where Hyder is also infrastructure consultant.

  • Hydros Khorrambad signing kickstarts upstream drive

    Tehran is preparing an upstream oil drive, with a fresh bid round for 24 exploration blocks planned by the end of the year on more attractive terms, possibly lasting up to 25 years. The announcement by National Iranian Oil Company (NIOC) on 19 September came just days after Norways Norsk Hydro signed an exploration and development contract for the Khorramabad block one of 16 tendered in 2004 and Oil Minister Kazem Vaziri-Hamaneh set a deadline of 30 September for Japans Inpex to sign a final

  • IAEA says US report on Iran is misleading

    The International Atomic Energy Agency (IAEA) has protested against a US report on Iran's nuclear programme. A letter from the IAEA said the 23 August congressional report was 'outrageous' and 'dishonest' and distorted the IAEA's findings on Iran's nuclear programme. Congress had claimed Tehran's nuclear capabilities were more advanced than IAEA and intelligence reports had shown. It says the report erroneously stated Iran had developed weapons-grade uranium. The IAEA had

  • IFC loan for CTI slickers

    The International Financial Corporation (IFC), the private sector arm of the World Bank, has announced a $15 million loan to Jordan-based CTI Group, one of the world's largest owners of a specialised cement carrier fleet. 'The financing package will enable us to upgrade and renovate our fleet, as well as expand its size to keep pace with the development of new cement markets,' said CTI chairman Nader Dajani. The loan will go towards supporting CTI's strategy of matching long-term assets with lon

  • IFFCO enters Dubai Industrial City

    Sharjah-based food and beverage firm IFFCO has signed an agreement to establish an estimated AED 1,000 million ($272 million) facility in Dubai Industrial City. The company will manufacture all its products, ranging from breakfast cereals to edible oils, at the site.

  • IMF warns on GCC overheating risk

    Global economic growth is expected to remain strong throughout 2006/07 in spite of high oil prices, which have so far had less of a negative impact than expected, says the IMF in its latest semi-annual World Economic Outlook (WEO), released in mid-September. Gross domestic product (GDP) among the oil-exporting countries of the Middle East will unsurprisingly rise much faster. However, the fund warns the governments of the region about the dangers of economic overheating and the challenges inv

  • Indians eye Sonatrach LNG deal

    Gas Authority of India (GAIL) is understood to be in negotiations with state energy company Sonatrach for a long-term liquefied natural gas (LNG) deal. 'We are looking to import 1.2 million-1.5 million tonnes a year [t/y] of LNG over 25 years,' a GAIL official told MEED on 11 September. The gas would be used as feedstock to fire the 2,184-MW Dabhol power plant at Maharashtra in western India.

  • INSTALLATION SECURITY: Space-age solutions touch down

    Although Riyadh had been aware for many years of the terrorist threat to its major oil installations, it probably wasn't until 24 February 2006 that the kingdom realised fully just how vulnerable it might be to a terrorist attack.

  • INSTALLATION SECURITY: Space-age solutions touch down

    Although Riyadh had been aware for many years of the terrorist threat to its major oil installations, it probably wasnt until 24 February 2006 that the kingdom realised fully just how vulnerable it might be to a terrorist attack.

  • Intelligence officer targeted in Lebanon

    An explosion near the southern Lebanese city of Sidon left four people dead and four more injured. The bomb blast is believed to have been part of an assassination attempt on Samir Shehadeh, an Interior Ministry intelligence officer. Shehadeh's car was travelling in a two-vehicle convoy when the remote-controlled bomb detonated. Shehadeh's aides and bodyguards were killed. Lebanese officials said Shehadeh was taken to Sidon hospital and was in a stable condition.Shehadeh w

  • International interest for El-Tebbine

    Four international companies on 22 August submitted prequalification applications to Cairo Electricity Production Company (CEPC) for the contract to carry out electro-mechanical works on the 650-MW El-Tebbine steam power plant. They are Spain's Initec Energia, Czech-based Skoda Praha and Techint and Sadelmi, both of Italy. A shortlist is expected to be completed by February 2007 with an award due in October 2007. Commercial offers are due to be opened in late August. CEPC has already issued the

  • INTERVIEW: Matti Vanhanen, Finnish Prime Minister : Nordic diplomacy

    There's an old adage in Finland. 'Better a bony agreement than a fat disagreement.' For Finnish Prime Minister Matti Vanhanen the bony ceasefire between Hezbollah and Israel will probably be the crowning moment in his country's tenure of the EU presidency. Within weeks of assuming the presidency on 1 July, Vanhanen was thrown deep into one of the most challenging political arenas, the Middle East conflict.

  • INTERVIEW: Pass notes

    Seldom can anyone have been so aptly named: Richard Makepeace, who has just left his post as the UK's ambassador to the UAE, takes over as head of mission in Jerusalem in November. The ambassador, who has spent the past three-and-a-half years in the UAE, will become consul general in East Jerusalem, responsible for Palestinian affairs, at a critical time in relations between the Palestinian Authority and Tel Aviv.

  • Interview: Yousef Hussein Kamal: The view from the ministry

    Yousef Hussein Kamal could be taking things easy these days. With the economy on track to double in size by 2011, government finances in exceptionally rude health and the infrastructure upgrade programme in full swing, the long-serving finance minister would be justified in sitting back and reflecting on a job well done.

  • Investors miss out on malfeasance payouts

    More than 80 per cent of settlements owed to Middle East investors resulting from collective legal action against corporate wrongdoing in the US go unclaimed, according to the UKs Institutional Protection Services (IPS). 'For process-driven reasons, Middle East investors are not claiming what they are due,' says IPS managing director Caroline Goodman.IPS estimates that investors from the region have $100,000 million invested in US equities. In 2004, $2,500 million of funds went unclaimed

  • IOCs await sour tender

    Abu Dhabi National Oil Company (ADNOC) is due to issue by mid-October the tender for the position of developer on the onshore sour gas programme. Under the proposed schedule, international oil companies (IOCs) will be invited to submit technical and financial proposals by late December. An award is due in early 2007. In early August, 13 IOCs responded to an initial inquiry for the contract. ADNOC aims to set up a new operating company in partnership with IOCs to extract, process and supply abo

  • IPO activity accelerates in the kingdom

    The initial public offering (IPO) of shares in Saudi International Petrochemical Company (Sipchem) was launched on 9 September to a strong response. It forms part of a lengthening pipeline of IPOs approaching the market, with the Capital Market Authority (CMA) due to announce the timing of the next batch imminently and several financial advisory mandates recently awarded.

  • IRAN

    Tender no 18-84-02. Supply of 3,750 rail grinding machine knives. Bid bond is $55,000.

  • IRAN

    General procurement notice. Project no P073433. Supply of goods, carrying out works, and provision of consultancy and related services as part of an urban upgrading and housing reform project. The project comprises the following: part A 1) carrying out an urban upgrading programme consisting of the design, implementation and supervising of sub-projects and capacity building activities, and preparation of city development strategies, and feasibility and design studies; 2) design of urban upgradi

  • IRAN

    Tender no 85/AL/46. Supply of 300 tonnes of synthetic cryolite to be delivered to Bandar Abbas, 18 kilometer from the Shahid Radjaie Quay Road, Persian Gulf Mines & Metals Special Economic Zone via Bandar Abbas. Bid bond is 5 per cent of tender price.

  • IRAN

    Tender no 84-17. Supply of 21,100 tonnes of ST37-3N-type steel plates.

  • IRAN

    Tender no MS/85/158. Prequalification. (Open only to joint ventures or a local/international consortium contractor). Provision of engineering, procurement and construction (EPC) services for the renovation and reconstruction of the existing Resalat (R1) complex I2 (topsides and bridges) in the Gulf.

  • IRAN

    Tender no 502. Supply of 100,000 tonnes of prime steel deformed round bars in the composition of heavy metal scrap (HMS).

  • IRAN

    Tender no DVD-85226-TR. Supply of eighth digital conductivity meter fuel. Bid bond is IR 28.9 million or $3,150.

  • IRAN

    Tender no MS/85/159. Prequalification. (Open only to joint ventures or a local/international consortium). Provision of engineering, procurement and construction (EPC) services for the development of the Hendijan offshore complex in the Gulf.

  • IRAN

    Tender no S-DM8500279-PH. Supply of 360,000 kilos of Claus catalyst for H2S/SO2 conversion and 50,000 kilos of Claus catalyst for COS/CS2 hydrolysis for the Shahid Hashemi Nejad gas refinery. Bid bond is IR 25 million or Eur 2,500.

  • IRAN

    Tender no S-MS8440513-PH. Supply of 208,000 kilos of industrial desicant silicagel for the Shahid Hashemi Nejad gas refinery.

  • IRAN

    Supply of chemical fertilisers.Details from Agricultural Support Services Company, Jihad-e Agricultural Ministry, Purchasing Committee, Unit 2, Fourth Floor, Fourth Ally, 4 Ghandi Street, PO Box 15875-4397, Tehran, telephone (9821) 88776325-6, website www.assc.ir.

  • IRAN

    Request for qualification. Carrying out the seismic rehabilitation of the Azadi Grand Hotel concrete structure in Tehran. The scope of works comprises the strengthening of the existing concrete structure including the supply and installation of FRP composite materials for the reinforcement of the concrete elements of the structure and supply and installation of a number of steel bracings and related viscous dampers.

  • IRAN

    Tender no 30408-5-0420. Supply of 850,000 kilos of methyl diethanol amine (MDEA) for gas treatment units at the Shahid Hashemi Nejad gas refinery. Bid bond is IR 400 million or Eur 40,000.

  • IRAN

    Prequalification. Tender no AT/85/080. (Open only to joint ventures or local/international consortiums). Provision of engineering, procurement and construction (EPC) services for the renovation and reconstruction of the existing Foroozan complex platforms in the Gulf.

  • IRAN

    Prequalification. Provision of consultancy services for all or part of the following projects: 1) the Sarcheshmeh copper concentrator, phase 2, expansion project in Kerman province; 2) the Khatoonabad copper smelter, phase 1, expansion project in Kerman province; 3) the Khatoonabad copper refinery project in Kerman province; 4) the Khatoonabad sulphuric acid plant project in Kerman province); 5) the Sungun copper concentrator, phase 1, expansion project in east Azerbaijan province; 6) the Sungun

  • IRAN

    Tender no OF/35/125. Provision of three years engineering, procurement and drilling services in the Reshadat field.

  • IRAN

    CD extension. Call for investors no 85-O83. Provision of investors on a buy-back basis for the expansion of a rolling mill to complete separation of a wire rod rolling line from an existing round bar rolling line. The project includes carrying out design and engineering work, supply of equipment spare parts for two years of operation and provision of training services. The facility produces 300,000 tonnes a year of wire. The total implementation period is 24 months; the pay-back period must be w

  • Iran calls on US to join TV debate

    Iranian President Ahmadinejad on 29 August challenged US President Bush to a live television debate on international affairs. He condemned the roles played by both the US and UK in global affairs since the end of the Second World War. 'We think the special privileges that America and Britain are taking advantage of today are the origin of all disturbances in the world,' he said. White House spokesperson Dana Perino told Reuters news agency that talk of a debate was a 'dive

  • Iran fails to meet deadline

    Iran has failed to meet a UN Security Council deadline to end its uranium enrichment programme, a report by the International Atomic Energy Agency (IAEA) says. The IAEA is due to submit its report to the council on 31 August. Earlier, Iranian President Ahmadinejad said Tehran would not succumb to international pressure over its nuclear programme. 'Iran will not back down an inch and will not accept being deprived of its rights,' he said.Washington is eager to impose sanct

  • Iran plane crash kills dozens

    At least 80 people were killed when a passenger plane skidded off the runway and caught fire in the city of Mashad, in the northeast of Iran. According to state television, the Russian-made Tupolev 154 jet was carrying 147 from the port city of Bandar Abbas in the south. Media reports say the incident was caused when the Irantour plane's tyre burst on landing. 'The flight crew and the pilot of this flight survived, and this will be a great help to find out the cause of the accident as so

  • Iran seeks new conditions in nuclear debate

    Iranian President Ahmadinejad on 14 September said the Islamic republic was open to negotiations based on 'new conditions' to end the nuclear standoff with the West. 'We are partisan to dialogue and negotiation and we believe that we can resolve the problems in a context of dialogue and justice together,' he said. 'I am announcing that we are available, we are ready for new conditions.'The US has continued to press for UN Security Council sanctions against the Islamic repu

  • Iran, Russia set date for nuclear reactor

    Iran and Russia on 26 September agreed to launch a nuclear reactor at Bushehr in September 2007. According to the Itar-Tass news agency, the deal 'envisions the supply of fuel in March, the physical launch in September 2007 and the energy launch in November 2007'. Work on the 1,000-MW plant had been delayed repeatedly by the Russians, but Foreign Minister Igor Ivanov has assured Iran that Moscow would fulfil its promises. 'A concrete plan for the construction of the nuclea

  • Iranians go international with Nakheel

    The Iranian joint venture of General Mechanic, Melli Sakhteman and Tossar International Construction has been awarded the estimated AED 250 million ($70 million) infrastructure contract for International City phase 3. The 11-month contract covers roadworks, and the installation of district cooling, power, communication, water and sewerage networks. Australias Bovis Lend Lease is the project manager; the UKs Arup is the infrastructure design consultant engineer. Limitless, part of Dubai World, is

  • IRAQ

    Tender no 2087. Design, supply, construction and/or supervision (optional) of three 100 million-cubic-feet-a-day turbo compression trains, with all relevant facilities and tie-ins with the existing North Rumaila natural gas liquids (NGL) plant. The purpose of the new plant is to collect associated gas from West Qurna DS 6, 7 and 8 and to raise the pressure from 85 psi to 767 psi that can be received and treated in the existing NGL plant.Details, available until 11 September, on payment o

  • IRAQ

    General procurement notice. Project no P099687. Supply of goods, carrying out works and provision of consultancy and related services for the population, health and nutrition sector's emergency obstetric and neo-natal care project. The project will include the following: 1) services delivery - to upgrade the services for emergency obstetric and neonatal care in 10 selected hospitals throughout the country; and 2) project management - to co-ordinate project activities and manage business offic

  • IRAQ

    Tender no 2169/ER-01. Design and supply of materials, equipment and spare parts for a complete electrical system for the K-3 station at Haditha.Details, available until 21 September, on payment of $200 from State Company for Oil Projects (SCOP), Director-General, Oil Ministry, Oil Complex Building, Port Saeed Street, PO Box 198, Baghdad, telephone (9641) 8177000/8177021/8177050, fax (9641) 8177119, telex 212230/212790 scop ik, email genscop@warkaa.net.

  • IRAQ

    Contract no TF054435-G10/2006. Project no P087912. Supply of ductile iron pipes, fittings and valves for the Zaafarania water network as part of the emergency Baghdad water supply and sanitation project. The project includes the supply of 43,575 linear metres of ductile iron (DI) pipes of different diameters ranging from 250 millimetres to 1,400 millimetres, the supply of polyethylene sleeves for the DI pipes, dismantling joints, blank flanges, collars, double socket tees, double flanged pipe

  • IRAQ

    Tender no 2172/QR-03. Supply of pump motor sets for the Najaf oil refinery.Details, available until 14 September, on payment of $500 from State Company for Oil Projects (SCOP), Director-General, Oil Ministry, Oil Complex Building, Port Saeed Street, PO Box 198, Baghdad, telephone (9641) 8177000/8177021/8177050, fax (9641) 8177119, telex 212230/212790 scop ik, email genscop@warkaa.net.

  • IRAQ

    Tender no X40/06/08. Carrying out a well velocity survey and supply of equipment. Bid bond is 3 per cent of tender price.

  • IRAQ

    Tender no BD/F/36/2006. Supply of 100 four-by-two buses. Bid bond is 2 per cent of tender price.Details on payment of $100 from Oil Products Distribution Company, Oil Ministry, PO Box 7751484, Baghdad, email cdpo_mat_pur@yahoo.com.

  • IRAQ

    Tender no 5337/QR-02/2006. Supply of scrap trap skid-mounted systems and valves for the Shuaiba-Khor al-Zubair product pipeline.

  • IRAQ

    Tender no SCOP-14-2006B. Supply of construction equipment comprising five 30-tonne hydraulic truck cranes and five 30-tonne rough-terrain cranes.

  • IRAQ

    Tender no 1474/2006. Supply of 20,000 tonnes of tri-ethylene glycol (TEG).Details from North Gas Company, PO Box 16, Kirkuk, fax (1281) 2201286, email ngc_kirkuk@yahoo.com.

  • IRAQ

    Tender no 2150-QR-07/2006. Supply of welded steel line pipe for DS/6 in West Qurna.

  • IRAQ

    Tender no 2086/A4-3. Supply of 30 dewatering pumps with accessories for the trans-Iraq dry gas network.

  • IRAQ

    Tender no 1450/2006. Rehabilitation of a 350-cubic-metre-an-hour wastewater treatment plant.

  • IRAQ

    Expressions of interest. Project no P099809. Provision of consultancy services for an emergency environment management project. The services include: 1) strengthening the environmental capacity of the Environment Ministry; and 2) strengthening the technical capacity of the ministry in waste management. The services are expected to be carried out between July 2007 and July 2010. Financed by the World Bank.

  • IRAQ

    Tender no 2145/QR-12/2006. Design and supply of completely fabricated materials and accessories for two 66,000-cubic-metre crude oil floating roof storage tanks for the Tuba depot in Basra and for six 58,000-cubic-metre crude oil floating roof storage tanks for the Zubair 2 depot in Basra.

  • Iraq captures Al-Qaeda's local number two

    Iraq on 3 September said it had detained the second highest-ranking figure in Al-Qaeda in the country. Hamid Juma al-Suaidi was captured several days earlier in an area north of Baghdad where US forces had killed former Al-Qaeda in Iraq leader Abu Musab al-Zarqawi in June. 'He was hiding in a building used by families,' National Security Adviser Mowaffaq al-Rubaie said. 'He wanted to use children and women as human shields,' adding that Al-Suaidi had ordered the bombing of the

  • Iraq forms committee to amend constitution

    The Iraqi parliament on 25 September agreed to form a committee to draft constitutional changes. The committee will name 27 members on 26 September. It will include 12 Shia members, five Kurds and four members from the main Sunni bloc. 'I think the agreement is like a gift presented by parliament to the Iraqi people for Ramadan,' parliament speaker Mahmoud al-Mashhadani said. 'Any speech that might be considered offensive and open up any other topic will be banned - today is like a weddi

  • Iraq to increase fuel imports

    The Iraqi government says it plans to spend $800 million on importing fuel in 2006 as the country faces severe shortages of petrol, kerosene and cooking oil. The move will 'help resolve the fuel shortage and will improve our strategic assets of oil products,' Iraqi Oil Minister Hussain al-Shahristani said on 6 September. Years of underinvestment in the oil sector together with insurgent attacks on pipelines has crippled the sector's infrastructure. Iraq currently relies on oil imports fr

  • Iraqi parliament debates federalism

    Iraq's parliament on 26 September began debating the issue of devolution of power. Two bills were put forward by Kurdish and Shia lawmakers. The more radical Kurdish bill was rejected after MPs clashed over a map showing the disputed northern town of Kirkuk as part of the Kurdish region. The draft bill proposed by Shia MPs was given a first reading, AFP news agency reported. If passed, the legislation will give 18 provinces to right to hold referendums to determine whether they will merg

  • Iraqi parliament debates federalism

    Iraq's parliament on 26 September began debating the issue of devolution of power. Two bills were put forward by Kurdish and Shia lawmakers. The more radical Kurdish bill was rejected after MPs clashed over a map showing the disputed northern town of Kirkuk as part of the Kurdish region. The draft bill proposed by Shia MPs was given a first reading, AFP news agency reported. If passed, the legislation will give 18 provinces to right to hold referendums to determine whether they

  • Iraqi parliament to consider devolution

    The Iraqi parliament will consider the devolution of power during its coming sessions, according to Abbas al-Bayati, spokesperson for the largest Shia bloc, the United Iraqi Alliance. 'The parliament will discuss the law for the formation of provinces in the next few sessions,' he said on 5 September. The devolution of power will take place along regional lines with provinces forming larger autonomous regions. A dispute over the flying of the national flag between the cent

  • Iraqi PM visits Iran

    Iraqi Prime Minister Nouri al-Maliki on 12 September began his first visit to Iran, where he met President Ahmadinejad for talks. The two leaders did not reveal the details of the meeting, but said the Islamic republic had offered Iraq help with establishing security in the country. 'We will give our full assistance to the Iraqi government to establish security,' Ahmadinejad said. 'Strengthening security in Iraq means strengthening security and stability in the region.' Maliki and Ahmadi

  • Iraqi PM visits Iran

    Iraqi Prime Minister Nouri al-Maliki on 12 September began his first visit to Iran, where he met President Ahmadinejad for talks. The two leaders did not reveal the details of the meeting, but said the Islamic republic had offered Iraq help with establishing security in the country. 'We will give our full assistance to the Iraqi government to establish security,' Ahmadinejad said. 'Strengthening security in Iraq means strengthening security and stability in the region.' Maliki

  • Israel confiscates $1.5 million in bank raids

    Israeli forces on 20 September raided a bank and money exchange shops across the West Bank, seizing up to $1.5 million. The army said the money which it confiscated in Nablus, Jenin, Tulkarm and Ramallah had come from Syria and Iran and was intended to go to Hamas and Islamic Jihad coffers. Jordanian National Bank's Nablus branch was targeted in the operation. The Israeli West Bank military governor later apologised, saying the bank was not meant to be raided.

  • Israel confiscates $1.5 million in bank raids

    Israeli forces on 20 September raided a bank and money exchange shops across the West Bank, seizing up to $1.5 million. The army said the money which it confiscated in Nablus, Jenin, Tulkarm and Ramallah had come from Syria and Iran and was intended to go to Hamas and Islamic Jihad coffers. Jordanian National Bank's Nablus branch was targeted in the operation. The Israeli West Bank military governor later apologised, saying the bank was not meant

  • Israel lifts Lebanon blockade

    Israel began to to lift its 8-week long air and naval blockade of Lebanon on 7 September. Tel Aviv announced the air embargo had been lifted at 1800 (1500 GMT), but the naval blockade will remain in place until a UN naval force arrives. German naval ships are due to begin policing the Lebanese coast within two weeks. In the interim, Italian, French, British and Greek troops will fulfil that role. 'The direct impact of the blockade on trade activity alone is

  • Israel lifts Lebanon blockade

    Israel began to to lift its 8-week long air and naval blockade of Lebanon on 7 September. Tel Aviv announced the air embargo had been lifted at 1800 (1500 GMT), but the naval blockade will remain in place until a UN naval force arrives. German naval ships are due to begin policing the Lebanese coast within two weeks. In the interim, Italian, French, British and Greek troops will fulfil that role. 'The direct impact

  • Israel releases Palestinian Deputy PM

    An Israel military court on 27 September ordered the release of Palestinian Deputy PM Nasser al-Shaer due to insufficient evidence against him. 'There was no basis for his arrest,' Shaer's lawyer said. 'This is natural.' Al-Shaer was arrested on 19 August as part of a wider Israeli crackdown on Hamas officials. A further 30 senior Hamas members remain in detention. The court ordered Shaer to keep out of Ramallah, the seat of the Palestinian government, for two weeks. On 25

  • Israel says UN deaths were mistake

    Israel has said the July bombing of a UN post in southern Lebanon was caused by a 'tragic error'. An official inquiry concluded that the post was targeted because of incorrect military maps of the area. Israeli Foreign Affairs Ministry spokesperson Mark Regev on 15 September told the BBC that a mistake had been made when maps of the area were duplicated prior to the deployment of new troops. 'In that process, unfortunately, the UN post was not accurately mapped,' he said. 'When our aircr

  • Israel says UN deaths were mistake

    Israel has said the July bombing of a UN post in southern Lebanon was caused by a 'tragic error'. An official inquiry concluded that the post was targeted because of incorrect military maps of the area. Israeli Foreign Affairs Ministry spokesperson Mark Regev on 15 September told the BBC that a mistake had been made when maps of the area were duplicated prior to the deployment of new troops. 'In that process, unfortunately, the UN post was not accurately mapped,' he said. 'When

  • Israel says UN deaths were mistake

    Israel has said the July bombing of a UN post in southern Lebanon was caused by a 'tragic error'. An official inquiry concluded that the post was targeted because of incorrect military maps of the area. Israeli Foreign Minister Mark Regev on 15 September told the BBC that a mistake had been made when maps of the area were duplicated prior to the deployment of new troops. 'In that process, unfortunately, the UN post was not accurately mapped,' he said. 'When our aircraft launched its ordn

  • Israel says UN deaths were mistake

    Israel has said the July bombing of a UN post in southern Lebanon was caused by a 'tragic error'. An official inquiry concluded that the post was targeted because of incorrect military maps of the area. Israeli Foreign Minister Mark Regev on 15 September told the BBC that a mistake had been made when maps of the area were duplicated prior to the deployment of new troops. 'In that process, unfortunately, the UN post was not accurately mapped,' he said. 'When our aircraft launche

  • Israel to resume settlement activity

    Israel plans to build up to 700 new homes in the West Bank, tender documents published on 4 September revealed. The Israeli Housing Ministry has invited bids on 348 plots in the Maale Adumim settlement outside east Jerusalem and 342 in Beitar Ilit near Bethlehem. This is the largest settlement housing order since Israeli Prime Minister Ehud Olmert took office in May. The two settlements, which have been occupied by Israel since 1967, are home to about 60,000 settlers. Tel Aviv plans to c

  • Israel wants dialogue with Palestinians

    Israeli Foreign Affairs Minister Tzipi Livni on 19 September said Tel Aviv wants to engage in continuing dialogue with Palestinian Authority president Mahmoud Abbas. Livni was speaking following talks with Abbas at UN headquarters in New York. 'I don't see this as one meeting and each side checks off a box and goes home,' she said. The idea is to establish a permanent channel of dialogue.' Abbas assured Livni that the national unity government he is seeking to establish wi

  • Israel wants dialogue with Palestinians

    Israeli Foreign Affairs Minister Tzipi Livni on 19 September said Tel Aviv wants to engage in continuing dialogue with Palestinian Authority president Mahmoud Abbas. Livni was speaking following talks with Abbas at UN headquarters in New York. 'I don't see this as one meeting and each side checks off a box and goes home,' she said. The idea is to establish a permanent channel of dialogue.' Abbas assured Livni that the national unity government he

  • Israeli air strikes target Hamas

    Air strikes on the southern Gaza Strip on 6 September left five alleged Hamas militants dead. One militant was killed and three more were injured in a raid near Khan Younis. Israeli forces then launched a small ground incursion into the town, killing a 16-year-old boy. Earlier, strikes targeting vehicles in Rafah killed four militants and wounded at least 20 bystanders.Also on 6 September, the EU called on Israel to stop plans to build up to 690 new homes in settlements in

  • Israeli air strikes target Hamas

  • Israeli blockade lingers over Beirut

    Six weeks after the Israeli assault on Lebanon began, limited operations have resumed at Rafiq Hariri International Airport but restrictions on entering Beirut port remain in place. UN Secretary-General Kofi Annan arrived in Tel Aviv on 29 August to negotiate an end to the air and sea blockade of the country. but failed to get it lifted.

  • Israeli troops withdraw from Gaza City

    Israeli forces on 31 August began pulling out of the Shajaiyeh disctrict of Gaza City, having completed a six-day operation in the area. The Israeli army said troops had uncovered and destroyed a 150-metre long, 13-metre-wide deep tunnel extending from Shajaiyeh to the Karni crossing on the border with Israel. Palestinian medical officials said 19 Palestinians were killed during the operation. In the West Bank, Israeli troops raided the town of Nablus and killed Fadi Khafisha, a commande

  • Israeli war general resigns

    Israeli Major General Udi Adam, the leader of the northern command during the 34-day war with Lebanon, resigned on 13 September. Local media reports said Adam quit due to differences with army chief of staff Dan Halutz over the conduct of the war. This would make Adam one of the first senior Israeli officials connected with the assault on Lebanon to leave his position. Israel has launched an investigation into the way the government and the military handled the war. Critic

  • Israeli war general resigns

    Israeli Major General Udi Adam, the leader of the northern command during the 34-day war with Lebanon, resigned on 13 September. Local media reports said Adam quit due to differences with army chief of staff Dan Halutz over the conduct of the war. This would make Adam one of the first senior Israeli officials connected with the assault on Lebanon to leave his position. Israel has launched an investigation into the way the government and the milit

  • Israeli zones boost US trade

    A surge in textile exports from Egypt's qualified industrial zones (QIZs) to the US has pushed the country's trade balance with the US into surplus for the first time. Cairo in mid-September posted a trade surplus with the US of $395 million for the first nine months of 2006, compared with a $700 million deficit in 2005. Textile exports to the US grew by 30 per cent to $252 million in the first four months of 2006, relative to the same period in 2005.

  • Israeli zones boost US trade

    A surge in textile exports from Egypts qualified industrial zones (QIZs) to the US has pushed the countrys trade balance with the US into surplus for the first time. Cairo in mid-September posted a trade surplus with the US of $395 million for the first nine months of 2006, compared with a $700 million deficit in 2005. Textile exports to the US grew by 30 per cent to $252 million in the first four months of 2006, relative to the same period in 2005.The improvement has been attributed

  • Istithmar at ease

    Dubai-based investment house Istithmar has launched Istithmar Leisure, a wholly-owned subsidiary to manage its leisure-related investments. The companys portfolio of assets includes Jumeirah Golf Estates, Nakheel Marinas and Island Global Yachting, as well as a number of beach and recreational clubs owned by sister company Nakheel. The company is planning leisure developments outside the region. 'Were looking at different types of leisure assets,' says chief executive officer David Spencer. 'In

  • Istithmar joint venture lands at Cape Town waterfront

    The joint venture of Dubai-based Istithmar and UK-based London & Regional Properties has successfully bid $1,000 million for South Africas V&A Waterfront Company. The company operates the Victoria & Alfred Waterfront in Cape Town.

  • Ithmaar buys into Shamil

    Ithmaar Bank has purchased a 60 per cent stake in its sister company Shamil Bank for $140 million. Both banks are subsidiaries of Swiss-based Dar al-Maal Islamic Group (DMI). Through the purchase, Ithmaar has bought Shamil's 25 per cent share in Pakistan's Meezan Bank and increased its stake in Switzerland's Faisal Finance to 100 per cent from 49 per cent, as well as its holding in Pakistan's Faysal Bank to 65 per cent from 28 per cent. As part of the deal, DMI has purchased Islamic Investment C

  • Ithmaar hires CEO

    Ithmaar Bank is expanding and has appointed a new chief executive officer (CEO) to oversee the bank's future activities. Michael Lee will join the bank as CEO from Bahrain-based Emerging Markets Partnership, where he was deputy chairman and managing director. He will take up the post in January.

  • Jabra housing scheme attracts local field

    Bid evaluation is ongoing at the Public Authority for Housing Welfare (PAHW) for a major concession to develop a low-cost housing project south of Jahra. The estimated KD 500 million ($1,724 million) project will provide low-cost housing to Kuwaiti families once it is completed in 2010.Five local developer groups have submitted technical and commercial proposals for the 25-year build-operate-transfer (BOT) concession. Technical evaluation is due to be completed by year-end, w

  • Jabra housing scheme attracts local field

    Bid evaluation is ongoing at the Public Authority for Housing Welfare (PAHW) for a major concession to develop a low-cost housing project south of Jahra. The estimated KD 500 million ($1,724 million) project will provide low-cost housing to Kuwaiti families once it is completed in 2010.

  • Jacobs signs up for Duqm

    The UK office of Jacobs Consultancy has been awarded the feasibility study for the grassroots Duqm refining and petrochemical complex. The award came just three weeks after bids were submitted for the study, which is due to be completed by early May. The Ministry of Oil & Gas (MoG) is handling the project, which will be the sultanates largest refinery (MEED 15:9:06).

  • Jadwa gets licence

    The Capital Market Authority has granted Jadwa Investment Company a licence to conduct investment banking activities in the kingdom. The sharia-compliant company is being set up with a paid-up capital of SR 500 million ($133 million) and is chaired by Prince Faisal bin Salman bin Abdulaziz al-Saud. Ahmed al-Khateeb is chief executive officer.

  • Jadwa gets licence

    The Capital Market Authority has granted Jadwa Investment Company a licence to conduct investment banking activities in the kingdom. The sharia-compliant company is being set up with a paid-up capital of SR 500 million ($133 million) and is chaired by Prince Faisal bin Salman bin Abdulaziz al-Saud. Ahmed al-Khateeb is chief executive officer.

  • Japan buys into Alexandrine fields

    Japans Sojitz Corporation announced in late August that it had acquired from the US IPR Group of Companies a 35 per cent stake in two oil fields, 80 kilometres west of Alexandria. The deal was valued at $14.5 million. Sojitz will invest $16 million over three years and plans to raise production in the fields to 5,200 barrels a day (b/d) from 2,800 b/d. IPR has also announced drilling results for its North Bahariya concession in the Western Desert. Norpetco, the operating company for IPR and its

  • Japanese announce crude discovery

    Japans Arabian Oil Company (AOC) announced on 15 September an offshore discovery of heavy crude in its Northwest October block in the Gulf of Suez. The company is understood to have discovered reserves that will allow the production of 4,900 barrels a day. The discovery was made 1,700-1,900 metres below the seabed. AOC acquired the block in early 2005 and has invested at least $24 million on exploration since April this year. The company subsequently signed a production sharing agreement (PSA) w

  • JD Capital eyes privatisations

    Amman-based JD Capital is expanding its activities in the kingdom, planning a $100 million tourism project in the north and among the bidders seeking a 51 per cent stake in Central Electricity Generating Company (Cegco), the first step in the privatisation of the kingdoms power sector.The company has signed a memorandum of understanding (MoU) with the Social Security Corporation (SSC), The Royal Society for the Conservation of Nature and the Jordan River Foundation to develop a tourism c

  • JD Capital eyes privatisations

    Amman-based JD Capital is expanding its activities in the kingdom, planning a $100 million tourism project in the north and among the bidders seeking a 51 per cent stake in Central Electricity Generating Company (Cegco), the first step in the privatisation of the kingdom's power sector.

  • Jeddah Municipality unveils bridge plans

    Jeddah Municipality has invited contractors to submit bids by 17 September for five bridge projects aimed at easing traffic congestion in the city. The schemes are the first of 23 road contracts due to be tendered over the coming months.

  • Jeddah refuse tenders out to bid

    Jeddah Municipality has invited companies to submit offers by 19 September for three contracts to manage the citys refuse collection. Each contract is valued at about SR 350 million ($95 million). The successful bidders will be responsible for street cleaning, waste collection and transport and the operation and management of existing infrastructure. The five-year contracts will cover three areas of the city. The scheme is part of an effort by the municipality to eradicate dengue fever in certa

  • jeddah: Raring to go

    Jeddah's new mayor has generated a buzz around the Red Sea townA stroll along Jeddah's corniche is a fascinating experience. It resembles an open-air museum peppered with weird and wonderful statues from some of the world's most famous sculptors. The brainchild of Jeddah's mayor in the 1970s, the corniche reminds visitors of the city's previous glory. Since then, Jeddah has seen little investment. Roads are dilapidated, the airport is antiquated and buildings look increasingly dishevelled.

  • jeddah: Raring to go

    Jeddahs new mayor has generated a buzz around the Red Sea townA stroll along Jeddahs corniche is a fascinating experience. It resembles an open-air museum peppered with weird and wonderful statues from some of the worlds most famous sculptors. The brainchild of Jeddahs mayor in the 1970s, the corniche reminds visitors of the citys previous glory. Since then, Jeddah has seen little investment. Roads are dilapidated, the airport is antiquated and buildings look increasingly dishevelled.

  • Jet fuel futures explored

    The Dubai Mercantile Exchange (DME) has signed a memorandum of understanding (MoU) with ENOC Supply & Trading, a subsidiary of Emirates National Oil Company (ENOC), to explore the development of a jet fuel futures contract.

  • Joint Middle East-Asian energy fund emerges

    The Islamic Development Bank (IDB) is raising capital for its second infrastructure fund. The EMP Energy Fund, to be managed by Bahrain-based Emerging Markets Partnership (EMP), has a target size of $1,000 million and is expected to close by year-end. The fund will invest 80 per cent in energy and 20 per cent in infrastructure projects in the GCC and South-East Asia.

  • Jones Lang LaSalle swoops on MENA

    US-based real estate services and investment management firm Jones Lang LaSalle (JLL) plans to open offices across the Middle East and North Africa (MENA) region and double its staff based in the region to 60 in the next 12-18 months. The company acquired in early September Dubai-based real estate investment consultants RSP Group. RSP has been involved in projects totalling more than $100,000 million in 24 countries. JLL has offices in 70 countries outside the Middle East. 'Weve found that a lot

  • JORDAN

    Tender no 124/2006. Provision of consultancy services comprising the updating of an existing technical and economic feasibility study, and preliminary design and preparation of final design and tender documents for the construction of the Kufranja dam for the Jordan Valley Authority. The objectives of the present study include, but are not limited to, the following: 1) updating the technical and economic feasibility, and preliminary design for the construction of the storage facility on the d

  • JORDAN

    Tender no 2/JSC/2006. Design and preparation of tender documents and provision of supervision services (optional) for the Jordan National Financial Centre project. Bid bonds are JD 18,000 for the design and JD 14,000 for the supervision.

  • Jordanian gunman not linked to terrorist groups

    Jordanian officials on 5 September said the gunman who killed one Briton and wounded six other people in Amman a day earlier had acted alone. The assailant was named as Nabil Ahmed Issa Jaourah. He 'had no ties to any armed group or any suspicious group inside or outside Jordan,' said government spokesperson Nasser Judeh (MEED 4:9:06).

  • Jubail scheme moves on

    The multi-billion-dollar Jubail olefins complex planned by the US/local joint venture of INEOS Enterprises and Delta Oil Company has taken another step forward, with the submission of bids for the cracker contract, and selection nearing for the project management consultancy (PMC) contractor.

  • JV wins PP10 consultancy

    The local/Pakistani joint venture (JV) of Saudi Consulting Services (SaudConsult) and National Engineering Services of Pakistan (Nespak) signed on 2 September the consultancy contract covering the 2,000-MW PP10 power plant close to Riyadh. The team was low bidder for the work when bids were submitted in July. Under the terms of the two-year contract, the JV will carry out basic engineering, prepare tender documents and provide project management services. The client is Saudi Electricity Company

  • Kayan issues more tenders

    Saudi Kayan Petrochemical Company has invited international contractors to submit technical bids by the end of October for three contracts to build polyethylene (PE) and polypropylene (PP) units at its worldscale petrochemicals complex in Jubail.

  • KDC wins more rig work

    Kuwait Drilling Company (KDC) has signed a contract, worth KD 43.4 million ($150 million), to supply and operate two onshore rigs for drilling and workover operations across the state. The client on the five-year contract is state upstream operator Kuwait Oil Company. KDC, the local subsidiary of the US Parker Drilling Company, was awarded in March a similar contract, valued at KD 21.7 million ($75 million), to supply and operate a medium-depth onshore drilling rig (MEED 31:3:06).

  • KEO takes Harbour contract

    The Dubai office of KEO International has been appointed project manager on the estimated $450 million Villamar at the Harbour scheme planned by Kuwait-based Gulf Holding Company (GHC) as part of the Bahrain Financial Harbour. The 35,900-square-metre development will include: three 47-57-storey buildings, called The Twisting Towers; 54 four-five-bedroom Floating Villas; and the Terraced Podium, a series of landscaped terraces dropping towards the sea. It will also include 494 one-four-bedroom

  • KEO takes Harbour contract

    The Dubai office of KEO International has been appointed project manager on the estimated $450 million Villamar at the Harbour scheme planned by Kuwait-based Gulf Holding Company (GHC) as part of the Bahrain Financial Harbour. The 35,900-square-metre development will include: three 47-57-storey buildings, called The Twisting Towers; 54 four-five-bedroom Floating Villas; and the Terraced Podium, a series of landscaped terraces dropping towards the sea. It will also include 494 one-fou

  • KFH lets fly in Malaysia

    Kuwait Finance House Malaysia (KFHM), a wholly owned subsidiary of Kuwait Finance House (KFH), and Malaysia's RHB Sakura Merchant Bankers have been appointed lead arrangers for a $230 million, sharia-compliant ijara syndicated facility for Malaysian carrier AirAsia. The finance has a tenor of 12 years and will fund the purchase of six Airbus A320-200s. AirAsia has ordered 33 aircraft that will replace its fleet of Boeing 737-300s.

  • Khandama designers down to five

    The local Jabal Khandama Development Company has narrowed to five the shortlist for the urban masterplan contract to develop the Jabal Khandama area in Mecca. The firms will now submit final detailed designs by 21 September, with the official opening of envelopes and a declared winner due by the first week of October. This is one of the first times the kingdom has carried out an entirely anonymous competition. Located southeast of the Haram Mosque, Jabal Khandama will have a total built-up ar

  • Khansaheb to build Baker Hughes centre

    US-based Baker Hughes has awarded the local Khansaheb Civil Engineering the estimated AED 130 million ($35 million) design and build contract for its training centre and operations facility at Dubai Techno Park. The training centre is expected to attract around 50,000 people every year from the Middle East and Asia-Pacific region.

  • Khartoum sets conditions for AU force

    Sudan on 4 September said it will allow African forces to remain in Darfur as long as they remain under the control of the African Union (AU) and do not transfer control to the UN. 'If the African Union wants to stay in Darfur as the African Union, they are welcome, Presidential adviser Mustafa Osman Ismail said. 'But we will not accept them to become part of a UN force.' A day earlier, Khartoum had told AU forces to leave once their mandate ran out on 30 September.UN Secr

  • Khartoum welcomes extended Darfur mission

    Sudan on 21 September welcomed the African Union's decision to renew its peacekeeping mandate in Darfur until the end of the year, but said it would have preferred a six-month extension. Officials said the move was preferable to the deployment of a UN force in the war-torn region.'It is easier for the international community to assist financially and technically an AU force which is already on the ground rather than starting from scratch with other forces like those of the

  • Khartoum welcomes extended Darfur mission

    Sudan on 21 September welcomed the African Union's decision to renew its peacekeeping mandate in Darfur until the end of the year, but said it would have preferred a six-month extension. Officials said the move was preferable to the deployment of a UN force in the war-torn region.'It is easier for the international community to assist financially and technically an AU force which is already on the ground rather than starting from scratch with oth

  • Khatib & Alami plans Mahail highway

    Saudi Consolidated Engineering Company (Khatib & Alami) has started detailed design work for the construction of a major new road in the Asir region. The scope of works centres on the construction of a 60-kilometre dual-carriageway, interchanges and associated roadworks linking Al-Mahail city with the western coastline. The Transport Ministry is the client.

  • KHURAIS: Joining the supergiants

    At a time when most captains of the global hydrocarbons industry are talking about unconventional oil, Saudi Aramco is bucking the trend. In the summer of 2009, 1.2 million barrels a day (b/d) of Arabian Light oil are targeted to be brought on stream at the Khurais field in the Eastern Province.

  • KIA buys into China

    Kuwait Investment Authority (KIA) announced on 24 September that it plans to acquire a stake in Industrial & Commercial Bank of China (ICBC) in a deal worth more than $700 million. The share purchase will make KIA the single biggest subscriber in ICBC's forthcoming initial public offering (IPO), set to be the world's largest when it opens on 27 October. The move underlines KIA's strategic shift toward China as an investment destination. KIA is believed to have at least $100,000 million worth

  • Kingdom agrees Typhoon deal

    Riyadh said on 18 August that it had agreed to purchase 72 Typhoon fighter jets, manufactured by the European Eurofighter consortium, in a deal worth about $21,000 million. The deal follows several months of negotiations between the Saudi and UK governments in which both sides agreed 'to establish a greater partnership to modernise the Saudi Arabian armed forces' (MEED 4:8:06).

  • Kingdom lifts scrap metal ban

    The government announced on 19 August that it would resume exports of scrap metal following a 16-year ban. Until now, scrap metal has been recycled domestically for the production of steel. With prices higher in the international market, the likelihood is that it will now be sold abroad. The move is likely to increase steel costs in the local construction and real estate sectors as steel imports increase.

  • Kirkuk blasts kill dozens

    A series of blasts in the northern Iraqi city of Kirkuk on 17 September left at least 23 people dead and 65 injured. In the worst incident, a suicide bomber detonated a truck near the offices of two Kurdish parties - President Talabani's Patriotic Union of Kurdistan and Kurdish President Massoud Barzani's Kurdistan Democratic Party. At least 18 people were killed in the explosion.Later, three people were killed when insurgents targeted a joint Iraqi-American patrol. One pe

  • Kirkuk blasts kill dozens

    A series of blasts in the northern Iraqi city of Kirkuk on 17 September left at least 23 people dead and 65 injured. In the worst incident, a suicide bomber detonated a truck near the offices of two Kurdish parties - President Talabani's Patriotic Union of Kurdistan and Kurdish President Massoud Barzani's Kurdistan Democratic Party. At least 18 people were killed in the explosion.Later, three people were killed when insurgents targeted a joint Ir

  • KNOWLEDGE OASIS MUSCAT: A new silicon oasis

    Some way down the desert road that leads from Sultan Qaboos University is a lone signpost. The turnoff leads through open terrain before finally opening out on a technology park of glistening glass buildings, an oasis of entrepreneurial activity set in the midst of the barren landscape west of Seeb.

  • KOC awards more consultancy work

    The US Gaffney, Cline & Associates (GCA) has won a contract to provide upstream exploration and production consultancy services to Kuwait Oil Company (KOC). The deal is similar in scope to the contract awarded to the US Halliburton in late June (MEED 7:7:06). Under the terms of the three-year master services contract, GCA will provide services ranging from techno-economic and geo-physics analysis to reservoir engineering and assisting KOC with its development plans. The state-owned upstream oper

  • KOC calls for dredgers

    Kuwait Oil Company (KOC) has invited nine local and international dredging companies to submit bids by 22 October for a contract to dredge the harbours and entrance channel to the Mina al-Ahmadi and Mina Abdulla refineries. The scope of works involves the deepening of the approach channel to allow ships with an alongside draft depth of up to 15 metres.

  • KOC invites bids for pipeline replacement

    State upstream operator Kuwait Oil Company (KOC) has invited 21 pre-approved international contractors to submit bids by 19 September for a major contract to supply and replace nine oil pipelines between its north and south tank farms. Evaluation will take three-four months. An award is expected early in the new year.The scope of works on the estimated $300 million-400 million engineering, procurement and construction (EPC) contract calls for the demolishing of the existing sour crude pi

  • KOC invites bids for pipeline replacement

    State upstream operator Kuwait Oil Company (KOC) has invited 21 pre-approved international contractors to submit bids by 19 September for a major contract to supply and replace nine oil pipelines between its north and south tank farms. Evaluation will take three-four months. An award is expected early in the new year.

  • KOC invites EoIs for Ahmadi BOT

    Kuwait Oil Company (KOC) has invited interested local and international companies to submit expressions of interest (EoIs) for the build-operate-transfer (BOT) redevelopment of its Ahmadi oil township. The project entails the complete privatisation of the township, which has been run by KOC for more than 50 years. No date has been set for the receipt of EoIs. The project will be procured using a public-private-partnership (PPP) structure, with the selected developer consortium expected to plan,

  • KOC lets more cementing services work

    The local National Petroleum Services Company (Napesco) signed on 17 September a five-year contract, worth up to KD 28 million ($97 million), to provide cementing and drilling services for state upstream operator Kuwait Oil Company (KOC). Under the terms of the deal, Napesco will provide and operate cementing and acidising tools for well construction throughout the state. The work involves pumping cement around pipes and casings to support the subsurface infrastructure, and pumping acid to i

  • KOC lets more cementing services work

    The local National Petroleum Services Company (Napesco) signed on 17 September a five-year contract, worth up to KD 28 million ($97 million), to provide cementing and drilling services for state upstream operator Kuwait Oil Company (KOC). Under the terms of the deal, Napesco will provide and operate cementing and acidising tools for well construction throughout the state. The work involves pumping cement around pipes and casings to support the subsurface infrastructure, and pumping acid to im

  • Koreans bid low for GC 24

    South Koreas SK Engineering & Construction is low bidder at KD 180 million ($621 million) for the contract to build gathering centre (GC) 24, following the submission of bids on 2 September.

  • KURDISTAN OIL: The battle for Kurdish oil

    On 1 September, Masoud Barzani, the head of the Kurdistan regional government (KRG), ordered the removal of the Iraqi flag from all public buildings in Irbil. In its place the Kurdish tricolour a green, white and red-striped flag with a yellow sunburst in the middle was hoisted. 'Once the central government approves a new flag, we will be proud to fly that here as well,' he said. The move provoked knee-jerk reactions from political factions across Iraq. The biggest response came from Baghdad,

  • KURDISTAN OIL: The battle for Kurdish oil

    On 1 September, Masoud Barzani, the head of the Kurdistan regional government (KRG), ordered the removal of the Iraqi flag from all public buildings in Irbil. In its place the Kurdish tricolour - a green, white and red-striped flag with a yellow sunburst in the middle - was hoisted. 'Once the central government approves a new flag, we will be proud to fly that here as well,' he said. The move provoked knee-jerk reactions from political factions across Iraq. The biggest response came from Bagh

  • Kurds threaten to break away from Iraq

    The leader of the Kurdish region of northern Iraq on 3 September threatened to secede from Iraq after a bitter dispute over flying the national flag erupted. 'If we want to separate, we will do it, without hesitation or fears,' Masoud Barzani told the Kurdish regional parliament. A day earlier, Barzani had banned the 'Baathist' national flag from public buildings, prompting a backlash from officials in Baghdad. 'The present Iraqi flag should be hoisted on every inch of Ira

  • KUWAIT

    Tender no HS/104. (Open to prequalified contractors only.) Renovation of a sanitary drainage network, stage nine, part B, in Sabah al-Salem for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 2 October.

  • KUWAIT

    Tender no HS/103. (Open to prequalified contractors only.) Renovation of a sanitary drainage network, stage nine, part A, in Mushrif for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 1 October.

  • KUWAIT

    Tender no S/MQA/15/2006-2007. Carrying out a national project for the renovation of Health Ministry hospitals, stage two. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no RFP/1330. (Open to prequalified contractors only.) Provision of completion equipment and associated services for the development of wells for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 2 October.

  • KUWAIT

    Tender no HS/130. (Open to prequalified contractors only.) Construction, completion and maintenance of roads, rainwater drainage, sanitary and other services at the Sabah al-Salem area, stage two, for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 1 October.

  • KUWAIT

    Tender no QS/T/161. (Open to prequalified contractors only.) Maintenance of roads and squares at the Ahmadi governorate for the Public Works Ministry.

  • KUWAIT

    Tender no QS/T/156. (Open to prequalified contractors only.) Maintenance of roads and squares at the Farwaniya governorate for the Public Works Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    CD extension. Tender no NRP/EPC-0016. (Open to prequalified contractors only.) Engineering, supply, construction and commissioning of a new refinery project for Kuwait National Petroleum Company at Al-Zoor, according to the requirements of package 2, which will constitute an integral part of the new refinery project. Bid bond is KD 3.3 million.

  • KUWAIT

    CD extension. Tender no NRP/EPC-0018. (Open to prequalified contractors only.) Engineering, supply, construction and commissioning of a new refinery project for Kuwait National Petroleum Company at Al-Zoor, according to the requirements of package 4, which will constitute an integral part of the new refinery project. Bid bond is KD 3.3 million.

  • KUWAIT

    CD extension. Tender no RFP/1360. Replacement of nine pipelines for crude oil filling for Kuwait Oil Company.Details from Central Tenders Committee, PO Box 1070, Safat 13011, telephone (965) 2401200, fax (965) 2416574.

  • KUWAIT

    Tender no QS/T/158. (Open to prequalified contractors only.) Maintenance of roads and squares at the Capital governorate for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 18 September.

  • KUWAIT

    Tender no RFQ/1029075. (Open to prequalified contractors only.) Supply of wellheads and x-mas trees. Bid bond is 2.5 per cent of tender price.Details on payment of KD 300 from Kuwait Oil Company, Reception Office, Purchase Department, Ahmadi Industrial Area, Ahmadi.

  • KUWAIT

    Tender no PAHC/M/696-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of an area branch centre, a gas branch, a health centre (model 3), a police station (model 2004), and an Imam and Muadhin residence at block 5 for the Saad al-Abdullah city project (South Jahra housing) for the Public Authority for Housing Care. Bid bond is KD 100,000.

  • KUWAIT

    Tender no PAHC/M/770-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of street lightening works for the Al-Mangaf housing project (parts 1, 2, 3 and 4) for the Public Authority for Housing Care. Bid bond is KD 9,000.

  • KUWAIT

    Tender no RFP/1182. (Open to prequalified contractors only.) Supply of security and access control services at Kuwait Oil Company installations. Bid bond is 2.5 per cent of tender price. A pre-bid meeting will take place on 10 September.

  • KUWAIT

    Tender no PAHC/M/745-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of 443 houses, public buildings and main service works for the Saad al-Abdullah city project at block 8 for the Public Authority for Housing Care. Bid bond is KD 1.5 million.

  • KUWAIT

    Tender no PAHC/M/746-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of 209 houses, public buildings and main service works for the Saad al-Abdullah city project at block 8 for the Public Authority for Housing Care. Bid bond is KD 750 million.

  • KUWAIT

    Tender no PAHC/M/719-2006/2007. (Open to prequalified contractors only.) Construction, completion and maintenance of an area branch centre, a gas branch (model 3), a health centre (model 3), a main police station (model 2004), a Jamia mosque (model 8), an Imam residence and main services at block 10 for the Saad al-Abdullah city project (South Jahra housing) for the Public Authority for Housing Care. Bid bond is KD 270,000.

  • KUWAIT

    Tender no 4/2006-2007. Supply, installation, delivery, operation and maintenance of a UDS unit at the basement of the passenger building at Kuwait International Airport for the General Directorate of Civil Aviation. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 17 September.

  • KUWAIT

    Tender no ME/EW/31/2006-2007. (Open to prequalified contractors only.) Cleaning of 5,700 secondary transformer stations in all areas of Kuwait and their attached offices of electricity distribution networks for the Energy Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no RFQ/1029046. Supply of tubing with accessories for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price.Details on payment of KD 800 from Central Tenders Committee, PO Box 1070, Safat 13011, telephone (965) 2401200, fax (965) 2416574.

  • KUWAIT

    Tender no S/MQA/25/2006-2007. (Open to contractors classified in categories one and two in construction works only.) Carrying out a national project for the rehabilitation of primary healthcare centres for the Health Ministry.

  • KUWAIT

    Tender no HT/151. (Open to prequalified contractors only.) Construction, completion and maintenance of roads, rainwater drainage, sanitary and other services at the South Surra area (the Al-Siddiq area, stage 1) for the Public Works Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no HT/152. (Open to prequalified contractors only.) Construction, completion and maintenance of roads, rainwater drainage, sanitary and other services at the South Surra area (the Al-Siddiq area, stage 2) for the Public Works Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no ME/EW/30/2006-2007. (Open to prequalified contractors only.) Supply of 433/11-kV electrical distribution transformers sunken in oil for the Energy Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no RFQ/1028816. Supply of special grade heavy weight seamless and ERW casing deep drilling with accessories for Kuwait Oil Company. Bid bond is 2.5 per cent of tender price.

  • KUWAIT

    Tender no ME/EW/29/2006-2007. (Open to prequalified contractors only.) Supply of low-tension cables for the Energy Ministry. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no QS/T/157. (Open to prequalified contractors only.) Maintenance of roads and squares at the Jahra governorate for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 19 September.

  • KUWAIT

    Tender no QS/T/160. (Open to prequalified contractors only.) Maintenance of roads and squares at the Hawally governorate for the Public Works Ministry. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 19 September.

  • KUWAIT

    Tender no 83-2006/2007. (Open only to contractors classified in categories 2 and 3 in construction works.) Provision of design, construction, completion and maintenance services for water tanks and irrigation pumps at the Maintenance & Construction Department in the Shuwaikh sector for Kuwait University. Bid bond is 2 per cent of tender price. A pre-bid meeting will take place on 19 September.

  • KUWAIT

    Tender no 26-2006/2007. Supply, installation and guarantee of an electronic gate system for the Interior Ministrys General Directorate of Information Systems. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 19 September.

  • KUWAIT

    Tender no PA/MM/13/2006/2007. (Open to prequalified contractors only.) Maintenance of the Al-Shuhada palm trees projects for the Public Authority for Agriculture Affairs & Fish Resources. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 25 September.

  • KUWAIT

    Tender no RFP/1361. (Open to prequalified contractors only.) Installation of non-smoke finger igniters at gathering centres (GCs) 17, 27, 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 MI/Sh.H/6/2006-2007. Operation and maintenance (O&M) of television (TV) broadcasting station equipment and devices at Failaka and provision of transportation services for Information Ministry staff from Kuwait to the Failaka island broadcasting station and vice versa. Bid bond is 5 per cent of tender price.

  • KUWAIT

    Tender no 3002905. Maintenance of gardens and irrigation networks for the Defence Ministry's military engineering installation. Bid bond is 5 per cent of tender price. A site visit will take place on 9 October and a pre-bid meeting on 10 October.

  • KUWAIT

    Tender no KPA/12/2006. Construction, completion and maintenance of a trailer crew building for Kuwait Ports Authority. Bid bond is 5 per cent of tender price. A pre-bid meeting will take place on 14 October.

  • KUWAIT

    Tender no 27/2006-2007.

  • KUWAIT

    CD extension. Tender no ME/EW/6/2006-2007.Supply of mechanical, electrical and heavy machinery for main workshops for the Energy Ministry.Details from Central Tenders Committee, PO Box 1070, Safat 13011, telephone(965) 2401200, fax (965) 2416574.

  • KUWAIT

    CD extension. Tender no 3-2006/2007. Carrying out a platform maintenance project at Kuwait International Airport for the General Directorate of Civil Aviation.Details from Central Tenders Committee, PO Box 1070, Safat 13011, telephone (965) 2401200, fax (965) 2416574.

  • KUWAIT

    Tender no RFP/1323. (Open to prequalified contractors only.) Provision of consultancy services for a process assessment and simulation study of Kuwait Oil Company pipeline networks. Bid bond is 2.5 per cent of tender price.

  • KUWAIT

    CD extension. Tender no RFQ/1029075. (Open to prequalified contractors only.) Supply of wellheads and x-mas trees. Bid bond is 2.5 per cent of tender price.

  • Kuwaitis flock to the emirates

    Bayan Investment Company and Kuwait Commercial Markets Complex Company (KCMCC) are the latest Kuwaiti companies to receive approval from the Emirates Securities & Commodities Authority (ESCA) to list shares on stock exchanges in the UAE. Almost half of the 18 non-UAE companies listed on Dubai Financial Market (DFM) and the Abu Dhabi Securities Market (ADSM) are Kuwaiti. The approval follows the DFM's recent listing of Grand Real Estate Company in July and National Real Estate Company, Al-Mazaya

  • Lebanese forces take over Hezbollah strongholds

    Lebanese troops on 5 September rolled into the devastated Shia town of Bint Jbeil, the scene of heavy fighting between militants and Israeli forces during the 34-day war. Soldiers also entered the Christian villages of Ain Ebel, Debel and Qouzeh.Despite a ceasefire which came into force on 14 August, the UN Interim Force in Lebanon (UNIFIL) said Israeli planes had entered Lebanese airspace eight times in the last 24 hours. UN Secretary-General Kofi Annan said he believed I

  • 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

    CD extension. Supply of computers and network related equipment for general education public schools. Financed by the World Bank.

  • LEBANON

    CD extension. Supply and installation of medical equipment and furniture for the 70-bed Tibnine governmental hospital for the Public Health Ministry. Financed by the Islamic Development Bank.

  • LEBANON

    Supply and installation of medical equipment and furniture for the Public Health Ministrys 70-bed Ftouh Governmental Hospital. Financed by the OPEC Fund for International Development.

  • LEBANON

    Expression of interest. Contract no SS62. Project no P045174. Provision of technical assistance for the restructuring and monitoring of the Education Ministry as part of its education development project. The ministry expects to issue the RFP for the assignment in December 2006. Financed by the World Bank.Details from Education & Higher Education Ministry, Education Development Project-EDP, Nada Mneimneh, Project Manager, Project Management Unit, Horch Tabet, Sin el-Fil, PO Box 55663, Be

  • Lebanon naval blockade could end soon

    Israel said it is ready to lift its sea blockade of Lebanon within 48 hours after it received assurances that the UN would install a naval force to police Lebanese waters. 'We have been assured by the UN that in the next 48 hours it will deploy a naval force responsible for enforcing the arms embargo [on Hezbollah],' Miri Eisen, spokesperson for Israeli Prime Minister Ehud Olmert said on 8 September. 'As soon as that it is done, it could be immediately, Israel will hand over this task to

  • Lebanon naval blockade could end soon

    Israel said it is ready to lift its sea blockade of Lebanon within 48 hours after it received assurances that the UN would install a naval force to police Lebanese waters. 'We have been assured by the UN that in the next 48 hours it will deploy a naval force responsible for enforcing the arms embargo [on Hezbollah],' Miri Eisen, spokesperson for Israeli Prime Minister Ehud Olmert said on 8 September. 'As soon as that it is done, it could be immediately, Israel will hand over th

  • Levant banks go Turkish

    Banque de la Mediterranee (BankMed) and Arab Bank have teamed up to purchase a 91 per cent stake in Turkeys MNG Bank. Arab Bank will take a 50 per cent stake in MNG and BankMed will take 41 per cent. Both banks have applied to Turkeys Banking Regulation & Supervision Agency and expect to conclude the deal by end-2006. MNG had total assets of New Turkish Lira 413.5 million ($281 million) in 2005 and recorded net profits of NTL 4.1 million ($2.8 million) over the course of the year. MNG has phased

  • LIBYAN CONSTRUCTION: Contractors graveyard

    It is a familiar story often repeated among the international business community. 'This place is a contractors graveyard,' says one Tripoli-based international contractor. 'They dont pay. I know of two contractors that have gone bust in Libya because of non-payment. It is not that they dont want to pay. It is just that the process is so slow. It can vary according to the person you are dealing with, but officials in Libya do not like taking decisions. Everything has to go through a committee. An

  • LNG refinancing sails through

    Energy Spring LNG Carrier, a joint venture of Oman Shipping Company (OSC) and Japans Mitsui OSK Lines, has completed the refinancing of its 135,000-cubic-metre liquefied natural gas (LNG) carrier Sohar LNG. Gulf International Bank (GIB) was the sole arranger and underwriter, facility agent and security trustee for the $136 million refinancing. Bank Muscat was appointed mandated lead arranger (MLA), Oman Arab Bank and Arab Bank were lead arrangers.The debt has a tenor of 16 years and a ma

  • Local consortium buys Swiss air firm

    A consortium of Abu Dhabi-government-owned Mubadala Development Company, Dubai Aerospace Enterprises (DAE) and Dubai-based investment house Istithmar has acquired Zurich-based aircraft maintenance, repair and overhaul company SR Technics in a deal worth about $1,270 million. The three have acquired 90 per cent of shares from private equity groups 3i and Star Capital, with Mubadala taking 40 per cent and DAE and Istithmar holding 30 per cent each. SR Technics will retain 10 per cent. DAE was form

  • Local sale for Suez Steel

    The local Misr International Steel completed the£E 1,100 million ($190 million) acquisition of an 82.3 per cent stake in the local Suez Steel Company on 13 September. The government received£E 273 million ($48 million) for its stake, with more than£E 750 million ($130 million) of the sale price to be used to cover Suez Steel's debts. Misr International's offer priced Suez Steel shares at£E 246 ($43) each and it expects to publish a tender within days for the remaining stock. Under the terms o

  • Local/Chinese JV in line for Bubiyan first phase

    The multi-billion-dollar Bubiyan seaport project finally got off the mark on 20 August after the Central Tenders Committee (CTC) approved the bid submitted by the local/Chinese joint venture (JV) of Gulf Dredging & Contracting, Shaheen Alghanim Roads & Bridges and China Harbour Engineering Company for the schemes first phase. The client, the Mega Projects Agency (MPA), is expected to sign the contract by the end of September.

  • Local/French JV awarded Raha marine works

    The local/French joint venture (JV) NSCC and Soletanche Bachy has been awarded two marine works packages on the Al-Raha beach development planned by local real estate developer ALDAR Properties. The two packages are worth an estimated AED 1,000 million ($272 million) and cover the Khor al-Raha, Al-Seef, Al-Bandar and Al-Wateed communities, also known as precincts A, B and C (MEED 21:7:06).

  • Local/German JV lands at cargo terminal

    The joint venture (JV) of the local Arabtec Construction and Germanys Max Boegl has been awarded the estimated AED 270 million ($74 million) contract for the cargo terminal building at Dubai World Central, formerly known as Jebel Ali Airport City. The contract calls for the construction of a 41,129-square-metre steel frame building. The consultant is a joint venture of Beirut-based Dar al-Handasah (Shair & Partners) and Frances Aeroports de Paris (AdP). Dubais Department of Civil Aviation (DCA)

  • Local/Malaysian JV wins Atlantis fit-out work

    The joint venture (JV) of Malaysias LCL Interiors and Dubai-based Mice Kraftwork has been awarded a AED 92 million ($25 million) fit-out contract for the $1,500 million Atlantis resort located on the crescent of Palm Jumeirah. The award is the latest in a raft of awards on the project, which is following a packaging strategy for its procurement. Canadas NORR Group Consultants International is the design consultant. A JV of Bahamas-based Kerzner International and the local Istithmar is the client

  • Locals access Saadiyat

    The local Overseas AST has started work on two 70-metre bridges that will link Saadiyat island to the Shahama area on the Abu Dhabi mainland via another smaller island.The bridges, which will provide access to the island for construction traffic, are being built as a subcontract to the AED 128 million ($35 million) enabling works package, which was awarded to the local Al-Jaber Group in May. The closing date has been extended by four weeks to 23 September for the larger bridge connecting

  • LoI issued for solid waste privatisation

    The joint venture of the local/Kuwaiti Emirates Utilities Company Holding with Italy's IMA and the local Aqua has received a letter of intent (LoI) for the operation and maintenance (O&M) of Abu Dhabi's municipal and solid waste treatment and disposal. The estimated AED 500 million ($136 million) contract is one of the first in an growing list of public services in the emirate to be outsourced to the private sector (MEED 17:2:06).

  • LoI issued for solid waste privatisation

    The joint venture of the local/Kuwaiti Emirates Utilities Company Holding with Italy's IMA and the local Aqua has received a letter of intent (LoI) for the operation and maintenance (O&M) of Abu Dhabi's municipal and solid waste treatment and disposal. The estimated AED 500 million ($136 million) contract is one of the first in an growing list of public services in the emirate to be outsourced to the private sector (MEED 17:2:06).

  • Lube firm plans new plant

    Kuwait National Lube Oil Manufacturing Company (KNLOC) is planning to build a new base oil manufacturing plant in the Shuaiba industrial area. A tender for the project management consultancy (PMC) contract has been issued, while a tender for the engineering, procurement and construction (EPC) contract is scheduled to be issued early in the new year.

  • Lube firm plans new plant

    Kuwait National Lube Oil Manufacturing Company (KNLOC) is planning to build a new base oil manufacturing plant in the Shuaiba industrial area. A tender for the project management consultancy (PMC) contract has been issued, while a tender for the engineering, procurement and construction (EPC) contract is scheduled to be issued early in the new year.Several local and international companies are understood to have been invited to bid by 15 December for the PMC contract. The

  • Maaden moves on ammonia plant

    Saudi Arabian Mining Company (Maaden) has awarded Paris-based Technip and Germanys Uhde two separate contracts to carry out pre-front-end engineering and design (FEED) work on the planned ammonia plant at its Ras al-Zour fertiliser complex. Maaden intends to select in January one of the two contractors for the full FEED and engineering, procurement and construction (EPC) contracts (MEED 10:2:06).

  • Marafiq set to announce IWPP frontrunner

    Final clarification meetings have been held on the Power & Water Utilities Company for Jubail & Yanbu (Marafiq) independent water and power project (IWPP) in Jubail, with an announcement on the first-ranked bidder due to be made in the second half of September. The developer consortium headed by Belgiums Suez Tractebel was the clear low bidder for the project when bids were submitted in April, followed by the teams led by the UKs International Power and Japans Mitsui & Company. Under the propose

  • MARKET IN FOCUS: SAUDI ARABIA: Speculating on change

    The summer dip that saw trading volumes decline on the Tadawul All-Share Index (TASI) has failed to scare hardcore speculators away from the market. Large individual investors continue to dominate the market, shifting volumes and profit-taking. In August, they steered clear of market blue chips and targeted the agriculture sector and other small stocks hunting down gains.

  • MARKET IN FOCUS: Steady bourses

    Regional investors turning their attention back to the markets after the summer break will be relieved to see bourses across the GCC have been consolidating in their absence. Analysts are daring to say the worst of the correction may be over, as markets appear to be edging away from year lows.

  • MARKETS IN FOCUS: JORDAN: Slow recovery

    The worst appears to be over for investors in Jordan. The Amman Stock Exchange (ASE) index began to climb again after a nine-month fall that saw the index lose more than 40 per cent of its value from its mid-November peak. Since 17 July, when the index reached its lowest point of the year so far, at 5,831.88 points, the market has risen steadily, increasing by 5.6 per cent to 6,156.54 points on 25 September.

  • MASHREQBANK: The mouldbreaker

    In 1993, the Middle East's most ambitious banking makeover was started at what was then known as Bank of Oman. Every branch was redesigned. And a new name - Mashreqbank - was adopted to reflect what can now be seen as a rebirth - not just of a UAE bank, but of Arabian banking.

  • MASHREQBANK: The mouldbreaker

    In 1993, the Middle Easts most ambitious banking makeover was started at what was then known as Bank of Oman. Every branch was redesigned. And a new name Mashreqbank was adopted to reflect what can now be seen as a rebirth not just of a UAE bank, but of Arabian banking.

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  • MEA loses $45m as airlines return

    Middle East Airlines (MEA) forecasts losses of $45 million as a direct result of the two-month-long Israeli assault and blockade of the country. The national carrier had expected to record net profits of $29 million from July to September, but the cost of flying to Damascus and Amman alone during the crisis led to losses of $16 million.

  • Medgaz makes strides

    The Medgaz consortium is evaluating bids for four main construction packages worth an estimated total of $767 million on the planned 774 million-cubic-feet-a-day (cf/d) pipeline to Spain. The contracts are expected to be awarded by the end of the year once a final investment decision (FID) is taken by the Medgaz joint venture partners.

  • Melamine construction package let

    Qatar Engineering & Construction Company has been awarded the construction package on the estimated $250 million melamine plant project at Mesaieed. The $60 million contract covers all construction related to the 60,000-tonne-a-year (t/y) melamine plant and the revamp of the existing urea 1 unit. Qatar Engineering joins two international engineering and procurement (E&P) contractors on the project: Milan-based Eurotecnica, which is working on the melamine plant; and Switzerland's Urea Casale,

  • Melamine construction package let

    Qatar Engineering & Construction Company has been awarded the construction package on the estimated $250 million melamine plant project at Mesaieed. The $60 million contract covers all construction related to the 60,000-tonne-a-year (t/y) melamine plant and the revamp of the existing urea 1 unit. Qatar Engineering joins two international engineering and procurement (E&P) contractors on the project: Milan-based Eurotecnica, which is working on the melamine plant; and Switzerlands Urea Casale, whi

  • Middle East donors' conference: $500 million in aid to Palestinians

    International donors meeting in Stockholm on 1 September pledged $500 million in aid to the Palestinian Territories. The move comes one day after delegates pledged more than $940 million towards reconstruction efforts in Lebanon. Participants were responding to a UN flash appeal that sought to raise $330 million.Swedish Aid Minister Carin Jamtin said the pledges were a 'fantastic result'. She added that $55 million will go towards emergency fundi

  • Middle East donors' conference: $940 million pledged to rebuild Lebanon

    International donors meeting in Stockholm on 31 August pledged more than $940 million towards reconstruction efforts in Lebanon, doubling the amount originally sought. This brings the total amount of reconstruction funds raised to $1,200 million. Lebanese Prime Minister Fouad Siniora expressed his 'great appreciation' to the donors. 'Lots of work has been done during the past week in order to preserve the dignity of the Lebanese, and in order to stop the aggression that was mad

  • Mineral rail earthworks steam ahead

    The Public Investment Fund (PIF) has issued letters to proceed for the advanced earthworks packages in the Al-Nufud region on its planned $2,800 million minerals railway. The local Al-Khodary Sons Company will carry out the Jawf section, while the local joint venture (JV) of Al-Fahd with Al-Omair will work on the Hail section. The successful contractors will excavate and shore up more than 200 million cubic metres of earth. PIF has extended the deadline to 29 October for 18 prequalified consorti

  • Minister suspends undersecretaries

    Energy Minister Sheikh Ali al-Jarrah al-Sabah suspended on 13 September the undersecretary and four assistant undersecretaries at the Ministry of Energy (Electricity & Water), as an investigation was launched into a spate of interruptions to the power and water supply that hit the state during the summer.Electricity and water undersecretary Saud al-Zaid, and ministry undersecretaries Hamoud al-Enzi, Faisal al-Mudhaf, Abdulaziz al-Ibrahim, and Jassem Abdulhameed Jamal have all been suspen

  • Minister suspends undersecretaries

    Energy Minister Sheikh Ali al-Jarrah al-Sabah suspended on 13 September the undersecretary and four assistant undersecretaries at the Ministry of Energy (Electricity & Water), as an investigation was launched into a spate of interruptions to the power and water supply that hit the state during the summer.

  • Mixed response by Gulf investors to Beirut projects

    Gulf real estate companies have given a mixed response to continuing with major real estate projects planned in the Beirut Central District (BCD) following the Israeli assault on the country.Kuwaiti investors led by Al-Sayer Group and its subsidiary Al-Dhow Investment Company have reimbursed initial investors in Levant Holding Company, which will develop the $1,100 million Phoenician Village mixed-use real estate project near Martyrs Square in the BCD. Levant has capital of $413 million

  • MobiNil's EDGE prompts technology dispute

    Egyptian Company for Mobile Services (MobiNil) has been told by the National Telecom Regulatory Authority (NTRA) to either apply for a third-generation (3G) licence or stop using enhanced data rate for GSM evolution (EDGE) technology. Four times faster than GSM, EDGE allows mobile subscribers to watch video streams. The NTRA claims this constitutes a 3G technology. MobiNil is majority-owned by local Orascom Telecom. Orascom is in talks with the NTRA and says it has an agreement to continue using

  • Mohammedia pipeline tender delayed

    The tender for the estimated $180 million pipeline package to serve the Mohammedia refinery expansion is unlikely to be issued before year-end due to the absence of a gas supply agreement. 'The client Samir [Societe Anonyme Marocaine de lIndustrie du Raffinage] is pursuing negotiations with Algiers for gas supplies, and a local company is negotiating a separate procurement deal,' says a local industry official. The project calls for the conversion to gas of the existing oil pipeline between the

  • More bodies uncovered in Baghdad

    Police in Baghdad have found 49 bodies in the capital in the last 24 hours, an Interior Ministry spokesperson said on 15 September. Most of the victims had been shot in the head and also appeared to have been tortured. This brings the total number of bodies recovered in Baghdad in three days to more than 100.The ministry has announced plans to increase security in the capital by digging trenches and installing checkpoints around it. The measures are intended to prevent ins

  • More bodies uncovered in Baghdad

    Police in Baghdad have found 49 bodies in the capital in the last 24 hours, an Interior Ministry spokesperson said on 15 September. Most of the victims had been shot in the head and also appeared to have been tortured. This brings the total number of bodies recovered in Baghdad in three days to more than 100.The ministry has announced plans to increase security in the capital by digging trenches and installing checkpoints around it. The measures

  • More controversy surrounds retailer sale

    Trade Holding Company (THC) announced on 3 September that it was preparing to file a claim against local businessman Saeed el-Hanash, following his failure to provide a letter of guarantee for his£E 2,000 million ($350 million) offer for local retail chain Omar Effendi. Although THC received a misaddressed fax from El-Hanashs financial adviser after the submission deadline, it refused to accept it as a legitimate guarantee. El-Hanashs late bid for the chain has been seen as a tactic designed to

  • More economic city plans unveiled

    Saudi Arabian General Investment Authority (SAGIA) is gearing up two launch two more economic cities in the kingdom. The more advanced of the two is Umm al-Qura Economic City in Mecca. Valued at about SR 10,000 million ($2,600 million), the scheme will be located either along the Mecca-Jeddah highway or at Shoaibah next to the Red Sea. A new company will be set up to develop the city, for which 30 per cent of its shares will be sold in an initial public offering. Plans are also be finalised f

  • More than 1,500 killed in Baghdad in August

    The Iraqi Health Ministry on 8 September announced that more than 1,584 people were killed in violence in Baghdad in August. This marks only a 14 per cent decrease from the figure of 1,850 for July. A day earlier, US military spokesperson Major General William Caldwell said that August's 'murder rate in Baghdad dropped 52 per cent from the daily rate in July'. Violence in the capital continued on 8 September, with the death of three civilians killed by a roadside bomb targeting a senior

  • More than 1,500 killed in Baghdad in August

    The Iraqi Health Ministry on 8 September announced that more than 1,584 people were killed in violence in Baghdad in August. This marks only a 14 per cent decrease from the figure of 1,850 for July. A day earlier, US military spokesperson Major General William Caldwell said that August's 'murder rate in Baghdad dropped 52 per cent from the daily rate in July'. Violence in the capital continued on 8 September, with the death of three civilians killed by a roadside bomb targeting

  • More World Bank funding for rural roads

    The World Bank granted in early September a $60 million loan to fund the first phase of the kingdoms second national programme for rural roads. The phase 1 project, worth an estimated $710 million and covering the construction and repair of 7,900 kilometres of rural roads, forms part of a wider programme to build or revamp 15,500 kilometres from 2005-10. The loan follows a $40 million rural road funding agreement signed by the organisation in 2005 (MEED 15:4:05).

  • MOROCCO

    Tender no 32 DAM/ET/06.

  • MOROCCO

    Expressions of interest. Project no P082754. Carrying out a study of local rural roads. Financed by the World Bank.

  • MOROCCO

    Prequalification. Tender no 26/2006. Project no P082754. Carrying out a study for strategies and maintenance of surfaced road networks in Hay Riad Charia Assanaoubar, Rabat. Financed by the World Bank.

  • MOROCCO

    Carrying out the ninth drinking water network and sanitation development project. The project comprises the improvement to the supply of drinking water in the provinces of Chefchaouan, Kenitra, Settat and Azilal and the treatment and purification of used water in the towns of Khouribga, Oued Zem and Boujaad. Financed by the African Development Bank.

  • Morocco arrests 56 suspected militants

    Morocco announced on 31 August it had arrested 56 suspected militants since it broke up a terrorist cell was planning attacks on government officials. 'The latest arrest was made 24 hours ago,' Interior Minister Chakib Benmoussa said. 'It was a woman.'Security forces broke up the terrorist cell, which Benmoussa named as the Mehdi Partisans, in early August. He described the group as a 'Jihadist Salafist movement advocating violence to achieve its goals'. Sec

  • MPW tenders more infrastructure work

    The Ministry of Public Works (MPW) has invited 22 local contractors to bid by 17 October for two contracts to carry out infrastructure work in the South Surra district of Kuwait City. Under the terms of the two contracts, covering Al-Siddiq area blocks one and two, the successful contractors will build and maintain roads, mosques, street lights and stormwater drainage and sewerage networks. The work will take about 30 months to complete.

  • MTN: Reaching into the region

    It has been a busy year for South African telco MTN. After winning Iran's first private sector GSM licence in controversial circumstances in late 2005, it cemented its position in the Middle East with the May purchase of Beirut-based Investcom, in a deal worth more than $5,500 million. Now the focus is on the consolidation of existing operations and the integration of its new acquisition into the MTN stable of operations.

  • Mubarak reshuffles cabinet

    Egyptian President Mubarak on 27 August implemented a minor cabinet reshuffle following the resignation of the justice minister Mohammed Abu al-Leil 10 days earlier. Mamdouh Marai, head of the Supreme Constitutional Court took over the justice portfolio from Al-Leil. Marai led the Presidential Election Commission which oversaw the country's first presidential elections in September. Mohammed Mahgoub replaced Othman Mohammed Othman as planning minister. Othman was given the newly founded pos

  • Muscat rating raised

    International rating agency Standard & Poors (S&P) has upgraded the sultanates long-term foreign currency rating to A- from BBB+. The A- long-term local currency and A2 short-term local and foreign currency ratings were affirmed and the outlook is stable. S&P attributed the upgrade to an improved fiscal and external asset position, with the latter forecast to reach 70 per cent of gross domestic product (GDP) by the end of 2006. A current account surplus of 19 per cent is predicted. Bahrains sove

  • Nakheel safaris south

    Local property developer Nakheel, a Dubai World company, is considering launching a major development in South Africa, where it is conducting preliminary due diligence.

  • Nakheel safaris south

    Local property developer Nakheel, a Dubai World company, is considering launching a major development in South Africa, where it is conducting preliminary due diligence.'Were looking at emerging markets for resorts and secondary locations,' says Nakheel Hotels & Resorts vice-president of development Sunil Gomes. 'Were also trying to leverage off DP Worlds ports business.' Nakheel will open a 150-room hotel in early December in Djibouti, where DP World, another Dubai World subsidiary, is e

  • Nakheel takes a stroll in the park

    Local property developer Nakheel, part of Dubai World, plans to build a new residential development between Sheikh Zayed road and Emirates road in Dubai. Construction is due to begin in early 2007.

  • Nakheel takes a stroll in the park

    Local property developer Nakheel, part of Dubai World, plans to build a new residential development between Shaikh Zayed road and Emirates road in Dubai. Construction is due to begin in early 2007.

  • Nakilat financing launched

    The request for proposals (RFP) was released to banks on 12 September on the first tranche of the estimated $7,300 million financing programme for Qatar Gas Transportation Company (Nakilat). Responses are due by 9 October.

  • Nakilat: The ship comes in

    Qatar Gas Transport Company (Nakilat) has taken the gas shipping industry by storm. In the two years since it was formed, it has acquired 44 liquefied natural gas (LNG) tankers from South Korean shipbuilders in one of the biggest ship acquisition programmes ever seen. All will be deployed on transporting North field gas from Ras Laffan to distant markets such as Europe and the US.

  • Nasrallah appears at victory rally

    Hezbollah leader Sheikh Hassan Nasrallah appeared at the group's 'divine victory' rally in the southern suburbs of Beirut on 22 September - the first time he has been seen in public since July. Prior to the rally it was unclear whether Nasrallah would attend. Israel has said it will target Hezbollah leaders, but Prime Minister Ehud Olmert refused to say whether Israel would try to kill Nasrallah at the rally. Hundreds of thousands of Lebanese took the streets wearing Hezbo

  • Nasrallah condemns Blair visit

    Lebanese Hezbollah leader Sheikh Hassan Nasrallah on 12 September condemned UK Prime Minister Blair's visit to Beirut. 'Tony Blair is a partner in the killing, and then you bring him to my house to my family and you give him a great welcome,' he told Al-Jazeera television. 'Don't those people have feelings?' His comments came a day after Lebanese Prime Minister Fouad Siniora welcomed Blair to the country. Also on 12 September, a French cargo vessel carrying tanks and armou

  • Nasrallah condemns Blair visit

    Lebanese Hezbollah leader Sheikh Hassan Nasrallah on 12 September condemned UK Prime Minister Blair's visit to Beirut. 'Tony Blair is a partner in the killing, and then you bring him to my house to my family and you give him a great welcome,' he told Al-Jazeera television. 'Don't those people have feelings?' His comments came a day after Lebanese Prime Minister Fouad Siniora welcomed Blair to the country. Also on 12 September, a French cargo vess

  • Nass/Burhan JV confirms awards

    The local/Kuwaiti joint venture (JV) of Nass Contracting and Burhan International Contracting Company confirmed on 27 August the award of two contracts totalling BD 59 million ($156.5 million). The larger of the two, worth BD 49.3 million ($130.8 million), is for King Hamad general hospital, for which the JV received a provisional letter of intent in August (MEED 11:8:06). The second award, valued at BD 9.7 million ($25.7 million), covers infrastructure work on phase 1 of the Durrat al-Bahrain p

  • NATIONAL BANK OF RAS AL-KHAIMAH: Northern exposure

    Since becoming general manager of National Bank of Ras al-Khaimah in January 1996, Graham Honeybill has transformed one of the smallest UAE banks into a GCC retail banking leader.

  • New exploration programme under way

    The US Schlumberger has successfully drilled the first of two appraisal wells planned on the Isarene permit in the Illizi basin on behalf of Dublin-based Petroceltic International (MEED 11:8:06). Following spudding in late July, the ISAS 1 well was drilled to a depth of 2,350 metres and hydrocarbon bearing intervals were identified that will be flow tested in early September. The appraisal wells mark the beginning of a sustained period of petroleum operations by Petroceltic over the 10,800-squar

  • New gas field discovered

    Petroleum & Mineral Resources Minister Ali Naimi announced on 10 September the discovery of a new non-associated gas field in the Eastern Province. The discovery is located 50 kilometres south of the onshore Ghawar field. Initial flows were reported at 16.2 million cubic feet a day (cf/d), according to tests carried out by Saudi Aramco at the Al-Kassab field. In July, Naimi announced the discovery of Zalmah 1 well, also located 50 kilometres south of Ghawar. The field reported initial flows o

  • New phase 3a takes off at Doha

    The New Doha International Airport (NDIA) Steering Committee has given US-based Bechtel notice to proceed on phase 3a of the NDIA project. The go-ahead comes less than a year after Bechtel was given the green light to move ahead on phase 2, which will raise the airports capacity to 24 million passengers (MEED 4:8:06).

  • New police academy on the cards

    The Ministry of Public Works has invited eight local contractors to submit bids by 3 October for the contract to build a new police academy in the Mubarikiya district. Evaluation will take about four months, with an award due in the first quarter of 2007.

  • New port moves forward

    Bids are under evaluation from two local companies by the Ministry of Works & Housing (MWH) for the contract to construct the port buildings at the new Khalifa bin Salman port at Hidd. Bokhowa Group is low bidder at BD 16.2 million ($42.6 million), while Ahmed Mansour al-AAli (AMA) submitted two options of BD 17.4 million ($45.8 million) and BD 17.5 million ($46.1 million).The job covers the operations, container terminal and harbourmaster buildings.AMA is frontrunner

  • New port moves forward

    Bids are under evaluation from two local companies by the Ministry of Works & Housing (MWH) for the contract to construct the port buildings at the new Khalifa bin Salman port at Hidd. Bokhowa Group is low bidder at BD 16.2 million ($42.6 million), while Ahmed Mansour al-A'Ali (AMA) submitted two options of BD 17.4 million ($45.8 million) and BD 17.5 million ($46.1 million).

  • Non-oil activity to lead GCC expansion, says IIF

    High oil prices are set to deliver economic growth in the GCC of about 10 per cent in 2007, with the non-oil sector providing the strongest area of growth, according to an assessment of the GCC economy by Washington-based Institute for International Finance (IIF).

  • Non-oil activity to lead GCC expansion, says IIF

    High oil prices are set to deliver economic growth in the GCC of about 10 per cent in 2007, with the non-oil sector providing the strongest area of growth, according to an assessment of the GCC economy by Washington-based Institute for International Finance (IIF).

  • North Idku platforms tender due

    Genesis Oil & Gas Consultants, a wholly-owned subsidiary of Paris-based Technip, is due to complete by December the front-end engineering and design (FEED) covering the fabrication and installation of unmanned platforms and related facilities at the offshore North Idku gas field. A tender for the engineering, procurement and construction (EPC) contract is due to be issued in the first quarter of 2007 (MEED 16:6:06).

  • NORTHERN EMIRATES OIL & GAS: A new agenda

    Since the early 1990s, there has been talk of building a grassroots oil refinery on the east coast. Discussion of the project began with the Fujairah government, and drew in international oil companies and regional investors. More recently, Abu Dhabi Oil Refining Company (Takreer) solicited interest from project managers in carrying out a concept study for a 300,000-barrel-a-day (b/d) facility. Finally, in late July, the US' ConocoPhillips announced the signing of a heads of agreement (HoA) w

  • Nurturing talent

    Sam Hamdan is a man on a mission. As chairman of the US-based Global Leadership Team, he has spent the better part of the year touring the Gulf to drum up support for his vision of a more entrepreneurial and innovative Middle East. His message is simple. 'If the Arab world is to evolve, we need to create a culture of leadership,' he says. 'Historically, it has been easier to finance 500 projects here than it has been to fund one entrepreneur.'

  • OCI to work on urea plant

    A joint venture (JV) agreement is set to be signed in the fourth quarter between Egypts Orascom Construction Industries (OCI) and state energy company Sonatrach for a 1 million-tonne-a-year greenfield urea plant near Arzew. The project, outlined in a memorandum of understanding signed by the two companies in February, is estimated to be worth $750 million.

  • OFFSHORE CONTRACTORS: Keeping up the pressure

    US-based offshore fabricator J Ray McDermott has reason to feel proud of its work in the Gulf. In the past 12 months, two of its Middle East subsidiaries, Jebel Ali-based J Ray McDermott (Middle East) and Al-Khobar-based McDermott (Arabia), created a little piece of history by winning several contracts totalling about $2,000 million - giving it one of the biggest order books of any offshore contractor in the region.

  • Offshore exploration picks up pace

    Norwegian-based TGS-NOPEC has begun the acquisition of 600 square kilometres of 3D seismic on the El-Louza block northeast of Sfax. The study will evaluate an existing discovery as well as four undrilled prospects, each of which holds an estimated 40 million-50 million barrels of oil. Data processing and evaluation is due for completion by year-end. TGS has a 5 per cent interest in the 4,100-square-kilometre block and is the operator during the prospecting phase; the remaining 95 per cent is hel

  • OGC loops in bidders for Barka terminal

    Oman Gas Company (OGC) has invited companies to submit bids by 20 October for the engineering, procurement and construction (EPC) contract for two loop lines and the Barka pressure reduction terminal (PRT). The project is expected to take 14 months to complete and involves the installation of a 38-kilometre-long, 24-inch-diameter gas pipeline from Murayarat to Rusayl, the new PRT, the Rusayl power plant spur line looping, and a 78-kilometre, 32-inch pipeline from Fahud to Sohar receiver station.

  • OGC loops in bidders for Barka terminal

    Oman Gas Company (OGC) has invited companies to submit bids by 20 October for the engineering, procurement and construction (EPC) contract for two loop lines and the Barka pressure reduction terminal (PRT). The project is expected to take 14 months to complete and involves the installation of a 38-kilometre-long, 24-inch-diameter gas pipeline from Murayarat to Rusayl, the new PRT, the Rusayl power plant spur line looping, and a 78-kilometre, 32-inch pipeline from Fahud to Sohar receiver stati

  • Oger leads on Riyadh roads

    Saudi Oger is low bidder for the King Abdullah road redevelopment in Riyadh. Only one other group priced the contract. It is unclear whether the project will now move ahead as local tendering regulations stipulate that at least three companies must participate in tenders (MEED 11:8:06).

  • Oger leads on Riyadh roads

    Saudi Oger is low bidder for the King Abdullah road redevelopment in Riyadh. Only one other group priced the contract. It is unclear whether the project will now move ahead as local tendering regulations stipulate that at least three companies must participate in tenders (MEED 11:8:06).

  • Oil & Gas: A time to deliver

    The local energy sector is entering a period of consolidation. After a whirlwind two years, which saw more than $55,000 million worth of project work enter the execution phase, the focus is now on delivery. Major new schemes remain, but their immediate predecessors dwarf them, in both number and scale.

  • OIL & TECHNOLOGY : To the last drop

    Blessed with a quarter of the world's 1.2 trillion barrels of conventional oil reserves, Saudi Aramco has taken the swings of the global oil market in its stride. Its first big push came in the 1970s, when the kingdom dramatically upped its crude oil output from just 3 million barrels a day (b/d) at the beginning of the decade to just under 10 million b/d in 1981. With apparent ease, Aramco replaced the US - then caught in the throes of fast-approaching peak oil - as the world's largest produ

  • OIL PIPELINES: Spreading the network

    As production increases, Saudi Aramco is planning major investments in its kingdom-wide pipeline networkThe East-West (E/W) pipeline - running from the central oil processing facility at Abqaiq in the Eastern Province to Yanbu on the Red Sea - is the backbone of Saudi Aramco's mammoth 15,000-kilometre multi-products pipeline network.

  • OIL PRICES: Stocks depress prices

    Oil prices continued to fall in the third week of September, as US product inventories rose and the threat of imminent action against Iran appeared remote. Spot Brent was trading at $58.79 a barrel on 18 September, compared with $60.83 a barrel a week earlier.

  • Oil revenues will be shared

    The government of Iraq has agreed to share oil revenues. The government hopes that instead of fighting over revenues they can be used to unify Iraqi society. Concerns had been raised by the Sunni community in resource-poor central Iraq, who feared it would miss out on revenues from the Kurdish areas in the north and Shia areas in the south. The semi-autonomous Kurdish regional government had earlier bypassed the central government and signed deals with foreign companies.

  • OIL ROUND-UP: Crude prices drop further

    For the third consecutive week, oil prices weakened in the global markets. Spot Brent crude was trading at $69.63 a barrel on 30 August, compared with $71.03 a barrel a week earlier.

  • OIL ROUND-UP: Lowest prices since May

    Oil prices continued to fall in early September, dropping to their lowest level since May. Spot Brent crude was trading at $66.47 a barrel on 6 September, compared with $69.63 barrel a week earlier. A prime reason for this was the robust level of US inventories at the end of the summer - about 6 per cent higher than a year ago.

  • OIL ROUND-UP: Markets cautious on regional news

    Oil prices eased in the global markets for the second consecutive week. Spot Brent crude ended at $71.03 a barrel on 23 August, compared with $72.35 a barrel a week earlier.

  • OIL ROUND-UP: Prices slide on OPEC inaction

    Oil prices continued to slide in the second week of September following OPECs decision to make no change to quota levels at its 11 September meeting in Vienna. Nevertheless, the group signalled greater concern with oversupply than with high prices, suggesting that cutting production remains on the agenda. Spot Brent was trading at $60.83 a barrel on 14 September compared to $66.47 a week earlier.

  • Olmert accused of whitewash over investigations

    Israeli Prime Minister Ehud Olmert came in criticism on 30 August over his decision to limit the parameters of Israel's investigation into the conduct in the war with Lebanon. Olmert rejected on 28 August a full judicial state inquiry into the conduct of the recent conflict. The prime minister announced he would commission an investigation into separate aspects of the conflict, but not an all-encompassing one. 'The public is not stupid and it will totally reject this consp

  • Olmert accused of whitewash over investigations

    Israeli Prime Minister Ehud Olmert came in criticism on 30 August over his decision to limit the parameters of Israel's investigation into the conduct in the war with Lebanon. Olmert rejected on 28 August a full judicial state inquiry into the conduct of the recent conflict. The prime minister announced he would commission an investigation into separate aspects of the conflict, but not an all-encompassing one. 'The public is not stupid and it wil

  • Olmert denies meeting Saudi king

    Israeli Prime Minister Ehud Olmert has denied meeting Saudi Arabia's King Abdullah, following media reports on 25 September. 'I did not meet the Saudi King and I did not meet with any element that should have caused a media sensation,' Olmert told Israeli daily Yedioth Ahronoth.On 25 September, Israeli daily Haaretz reported that the Saudi official in question could have been Prince Bandar, secretary-general of the Saudi Arabian National Security Council and former Saudi a

  • Olmert dismisses criticism over Lebanese campaign

    Israeli Prime Minister Ehud Olmert has blasted those criticising him over his handling of the Israeli operation in Lebanon. Moshe Yaalon and Shaul Mofaz, former army chiefs, are two of Olmert's strongest critics. 'I am sorry for 'Boogie' [Yaalon], whose personal bitterness overcame his wisdom What war like that did Mofaz conduct?' Olmert told the Israeli daily Haaretz on 21 September. 'With all due respect, neither of them has conducted a complex international political campaign like th

  • Olmert dismisses criticism over Lebanese campaign

    Israeli Prime Minister Ehud Olmert has blasted those criticising him over his handling of the Israeli operation in Lebanon. Moshe Yaalon and Shaul Mofaz, former army chiefs, are two of Olmert's strongest critics. 'I am sorry for 'Boogie' [Yaalon], whose personal bitterness overcame his wisdom What war like that did Mofaz conduct?' Olmert told the Israeli daily Haaretz on 21 September. 'With all due respect, neither of them has conducted a complex international political campaig

  • Olmert ready for talks with Abbas

    Israeli Prime Minister Ehud Olmert is ready to meet Palestinian Authority president Mahmoud Abbas as soon as militants release a captured Israeli soldier, according to Israeli Vice-Prime Minister Shimon Peres. 'Abu Mazen [Abbas] should be invited to talks, and I believe the prime minister will do so in the coming days,' he told Israeli Army Radio on 5 September. 'Negotiations must be launched on the basis of the roadmap, and when this situation is resolved, a meeting will take place.'

  • OMAN

    Tender no 142/2006. Construction of 50 housing units and provision of public services in the Wilayat al-Gazer in the Al-Wusta region for the Housing, Electricity & Water Ministry.

  • OMAN

    Tender no 143/2006. Construction of 15 housing units and provision of public services in the Wilayat al-Duqm in the Al-Wusta region for the Housing, Electricity & Water Ministry.

  • OMAN

    Tender no 144/2006. Construction of 20 housing units and provision of public services in the Wilayat al- Masirah in the Al-Sharqiya region for the Housing, Electricity & Water Ministry.

  • OMAN

    Tender no 145/2006. Drilling of production wells to supply drinking water to some villages in the Dhofar governorate for the Regional Municipalities, Environment & Water Resources Ministry.

  • OMAN

    Tender no 146/2006. Supply of a 33-kV cable feeder from the Sohar grid substation to the 33/11-kV Sohar primary substation and replacement of an existing wooden pole switching arrangement at the Sohar primary substation in the north Batinah region for the Majan Electricity Company.

  • OMAN

    Tender no 147/2006. Delivery and commissioning of a passenger service vessel for the Tourism Ministry.

  • OMAN

    Tender no 133/2006. Supply of cardiac consumables and surgical items for the Royal Hospital for the Health Ministry.Details, available until 27 September, on payment of RO 150 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • OMAN

    Tender no 139/2006. Construction of an interceptor guard dam for the Regional Municipalities, Environment & Water Resources Ministry.

  • OMAN

    Tender no 137/2006. Relocation of water pipelines as part of the Seeb International Airport project for the Transport & Communication Ministry.

  • OMAN

    Tender no 140/2006. Construction of 195 housing units as part of the South al-Mabela project in the Wilayat Seeb in the Muscat governorate for the Housing, Electricity & Water Ministry.

  • OMAN

    Tender no 129/2006. Construction of a new port at Duqm for the Transport & Communications Ministry.Details, available until 20 September, 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 130/2006. Carrying out engineering, procurement and construction (EPC) works for the Murayrat-Barka, Rusayl, Fahud-Sohar looplines and the Barka PRT expansion for Oman Gas Company.

  • OMAN

    Prequalification. Tender no 131/2006. Provision of design, engineering and construction supervision services for the development of tourism-related projects for Oman Tourism Development Company.Details, available until 20 September, on payment of RO 150 from Tender Board, PO Box 787, PC 133, Al-Khuwair, telephone (96824) 602073, fax (96824) 602063.

  • ONE delays Al-Wahda award

    The award of the estimated $500 million lump-sum turnkey (LSTK) contract to build and operate a combined cycle power plant at Al-Wahda is expected to be delayed until the first quarter of 2007 due to ongoing talks on the financing of the project. Negotiations are under way between the client, state electricity company Office National de l'Electricite (ONE), and local banks to secure funding for the project, which will be wholly debt-financed. ONE is expected to begin in October technical clar

  • ORGANISATION: Irbils oil companies

    Kurdistan Exploration & Production Company (KEPCO) will compete with international oil companies (IOCs) for exploration and production rights to 'future fields' those discovered after August 2005. Operating subsidiaries will be created for future fields, and the company will be able to form joint ventures (JVs) and enter similar contractual agreements 'whether in Kurdistan, in other regions and governorates of Iraq or abroad'.Kurdistan National Oil Company (KNOC) will be responsible

  • OSC to open umbrella

    Oman Shipping Company (OSC) will raise $250 million in umbrella financing at the end of the year to fund the purchase of four vessels. The two product tankers, a very large gas carrier (VLGC) and a very large crude carrier (VLCC), are due for delivery in 2008 from a Japanese shipyard. OSC plans to invite international banks to arrange the finance.

  • Padico plans two funds

    Palestine Development & Investment Company (Padico) plans to launch two new funds in Gaza and the West Bank. It will take a 10-20 per cent stake in each of the two funds, which will then be converted into companies. The Gaza fund will be worth $400 million while a fund for the north of the West Bank will be worth $60 million. A third company is planned for the southern West Bank. The three companies will finance development and construction projects and generate employment opportunities in th

  • Padico plans two funds

    Palestine Development & Investment Company (Padico) plans to launch two new funds in Gaza and the West Bank. It will take a 1020 per cent stake in each of the two funds, which will then be converted into companies. The Gaza fund will be worth $400 million while a fund for the north of the West Bank will be worth $60 million. A third company is planned for the southern West Bank. The three companies will finance development and construction projects and generate employment opportunities in the Pa

  • Pages turn for airports Papyrus tower

    Egyptian Airport Company in mid-September invited six local and international contractors to bid for the contract to build a new air traffic control (ATC) tower at Cairo Airports new third terminal. The prequalified bidders are Arab Contractors (Osman Ahmed Osman & Company), Orascom Construction Industries, Industrial Construction & Engineering Company (SIAC) and Hassan Allam & Sons, all local, Saudi Binladin Group and Turkeys TAV. The bid deadline is 8 November. Called Papyrus tower, the projec

  • Palestinian MPs hand portfolios to Haniya

    Hamas lawmakers on 14 September resigned and handed their portfolios over the Palestinian Authority (PA) Prime Minister Ismail Haniya to facilitate the creation of a unity government with Fatah. 'All the ministers have placed their ministerial portfolios under the authority of the prime minister, as a way of easing the path toward forming a national unity government,' Hamas spokesperson Ghazi Hamad said. He stressed that the move would not cripple the government. 'We will keep working no

  • Palestinian workers attack Haniya

    Striking Palestinian government workers on 18 September attacked Prime Minister Ismail Haniya's convoy outside parliament in protest against unpaid salaries. Haniya's bodyguards fired shots into the air to disperse the crowd. The prime minister was due to give a speech on the economic crisis in the Palestinian Territories to parliament, but was forced to cancel the appearance. The parliamentary session was adjourned and members of Fatah went outside to join the protests. 'The employees h

  • Palestinian workers attack Haniya

    Striking Palestinian government workers on 18 September attacked Prime Minister Ismail Haniya's convoy outside parliament in protest against unpaid salaries. Haniya's bodyguards fired shots into the air to disperse the crowd. The prime minister was due to give a speech on the economic crisis in the Palestinian Territories to parliament, but was forced to cancel the appearance. The parliamentary session was adjourned and members of Fatah went outside to join the protests. 'The e

  • Palestinians agree on unity

    Palestinian Authority (PA) President Mahmoud Abbas on 11 September announced he had reached a deal over the policies of a unity government with Hamas. 'We have finalised the elements of the political agenda of the national unity government,' he said. 'Hopefully, in the coming few days, we will begin forming the government of national unity.' The details of the agreement were not made public. Prime Minister Ismail Haniya and President Abbas have met several times to discuss

  • Palestinians agree on unity

    Palestinian Authority (PA) President Mahmoud Abbas on 11 September announced he had reached a deal over the policies of a unity government with Hamas. 'We have finalised the elements of the political agenda of the national unity government,' he said. 'Hopefully, in the coming few days, we will begin forming the government of national unity.' The details of the agreement were not made public. Prime Minister Ismail Haniya and President Abbas have m

  • Palm Water takes on International City STP

    Local real estate developer Nakheel has awarded the local Palm Water the AED 1,000 million ($272 million) design- build-own-operate (DBOO) contract for the International City sewage treatment plant (STP). The plant, with an expected capacity of 110,000 cubic metres a day (cm/d), will replace the smaller 32,000-cm/d STP that Nakheel had planned for the development.

  • Parliament adjourns after talk of devolution

    The Iraqi parliament on 7 September adjourned after Shia lawmakers attempted to bring the issue of devolution of power to the table. Saleh al-Mutlaq of the Sunni National Dialogue Front said security guards were brought into the chamber amid fears that the heated exchange between MPs could escalate. Officials from the largest Shia bloc said on 6 September they had drafted a proposal which lays out plans for provinces to merge into autonomous regions. Shia MPs tried to forc

  • Pars LNG finally out to bid

    Foreign and local contractors have been invited to bid for Irans first liquefied natural gas (LNG) project. Pars LNG has given contractors until 23 October to submit bids for the engineering, procurement and construction (EPC) package for a 1,000 million-cubic-a-feet-a-day gas treatment plant at Assaluyeh, which will serve the liquefaction facility. Estimated to be worth $1,000 million-1,200 million, the contract is the biggest to be tendered so far on the grassroots LNG project (MEED 3:2:06).

  • Parsons Brinckerhoff has designs on South Sinai

    South Sinai governorate has appointed US-based Parsons Brinckerhoff to design services for the water and solid waste systems for eight cities in the peninsula, including Dahab and Sharm el-Sheikh. Parsons Brinckerhoff will also prepare the tenders for the subcontracts on the project with awards expected by April 2007. The schemes are being funded by the EU-backed South Sinai Development Programme (MEED 4:8:06).

  • Parsons Brinckerhoff has designs on South Sinai

    South Sinai governorate has appointed US-based Parsons Brinckerhoff to design services for the water and solid waste systems for eight cities in the peninsula, including Dahab and Sharm el-Sheikh. Parsons Brinckerhoff will also prepare the tenders for the subcontracts on the project with awards expected by April 2007. The schemes are being funded by the EU-backed South Sinai Development Programme (MEED 4:8:06).

  • PDO pushes on with Qarn Alam retender

    Petroleum Development Oman (PDO) has invited about 25 companies to express interest by 25 September for two engineering, procurement and construction (EPC) packages on the Qarn Alam enhanced oil recovery (EOR) project.

  • PDO pushes on with Qarn Alam retender

    Petroleum Development Oman (PDO) has invited about 25 companies to express interest by 25 September for two engineering, procurement and construction (EPC) packages on the Qarn Alam enhanced oil recovery (EOR) project.

  • Pearl GTL: A price worth paying

    On 27 July, the waiting finally came to an end. After three years of planning and months of rising speculation about its fate, the Pearl GTL scheme was officially launched, following board approval by both Qatar Petroleum (QP) and the developer, the Royal Dutch/Shell Group. Within days, a host of key contract awards had been made, as the project team set about delivering the 140,000-barrel-a-day (b/d) integrated gas-to-liquids (GTL) development.

  • Petrochemicals: Pick a project

    The good times continue for petrochemicals producers in Saudi Arabia. High oil prices and naturally cheap feedstock ensure that the kingdom remains one of the top destinations for investment in polymer production. However, while the industry is prospering, a few dark clouds on the horizon threaten to ruin the party.

  • Petro-Rabigh syndication closed

    Syndication has closed of the commercial bank tranche of the debt package to fund the estimated $9,900 million integrated refinery and petrochemicals complex planned by Rabigh Refining & Petrochemical Company (Petro-Rabigh), a joint venture of Saudi Aramco and Japan's Sumitomo Chemical Company. Seven banks joined the 15-year deal, raising about $450 million.

  • Petro-Rabigh syndication closed

    Syndication has closed of the commercial bank tranche of the debt package to fund the estimated $9,900 million integrated refinery and petrochemicals complex planned by Rabigh Refining & Petrochemical Company (Petro-Rabigh), a joint venture of Saudi Aramco and Japans Sumitomo Chemical Company. Seven banks joined the 15-year deal, raising about $450 million.Arab Banking Corporation (ABC), Arab National Bank, Banco Bilbao Vizcaya Argentaria, Samba Financial Group and Saudi Investment Bank

  • Petro-Rabigh syndication flies

    Syndication of the conventional tranche of the debt package to fund the estimated $9,900 million integrated refinery and petrochemicals complex planned by Rabigh Refining & Petrochemical Company (Petro-Rabigh), a joint venture of Saudi Aramco and Japan's Sumitomo Chemical Company, is understood to have been very well received by the market, with more than $400 million sold down. Arab Petroleum Investments Corporation (Apicorp), Citigroup, Mizuho Financial Group and WestLB are acting as the bookr

  • PGESCo lined up for Cairo West

    The local/US Power Generation Engineering & Services Company (PGESCo) is close to signing a contract with Egyptian Electricity Holding Company (EEHC) to provide consultancy services for the 650-MW Cairo West steam power plant. EEHC expects to issue tender documents for contracts to provide and install two 325-MW steam turbines, boilers, piping and electrical works in late 2006, following the completion of engineering (MEED 19:5:06).

  • Plan B on the table to address Chinguetti shortfall

    Australias Hardman Resources announced in early September plans to maintain potential on the offshore Chinguetti field, where production is running at about 37,000 barrels a day more than 50 per cent lower than its production peak earlier this year. 'The Chinguetti field is on track to recover little more than 50 per cent of the estimated 120 million barrels of proven and probable [2P] reserves held by the field,' said a company statement (MEED 25:8:06).The strategy comprises: updating

  • PLT takes Cordoba Hills

    The local Puzant & Leon Trading & Contracting has been awarded the main infrastructure contract on the estimated $250 million Cordoba Hills development near Aleppo.

  • Police recover 60 bodies in Baghdad

    Iraqi officials on 13 September said the bodies of 60 shooting victims had been found across Baghdad in the past 24 hours. Most of the bodies showed signs of torture, indicating that sectarian death squads may have been responsible for the killings. Two separate car bombs in the east of the capital killed at least 22 people and injured 76. The first blast killed 14 people outside the traffic police headquarters in Baghdad while the second explosion targeted an electricity

  • Police recover 60 bodies in Baghdad

    Iraqi officials on 13 September said the bodies of 60 shooting victims had been found across Baghdad in the past 24 hours. Most of the bodies showed signs of torture, indicating that sectarian death squads may have been responsible for the killings. Two separate car bombs in the east of the capital killed at least 22 people and injured 76. The first blast killed 14 people outside the traffic police headquarters in Baghdad while the second explosi

  • Pope to meet Muslim leaders

    Pope Benedict has invited Muslim ambassadors to the Vatican on 25 September in an attempt to pacify anger over his reference to a medieval text which said Islam was spread by violent means. 'The purpose of this meeting is to relaunch dialogue with the Islamic world,' a senior Vatican official told Reuters news agency on 22 September. 'We welcome it and are definitely going to participate,' Ahmed Faihma, Iran's deputy ambassador to the Vatican sai

  • Pope to meet Muslim leaders

    Pope Benedict has invited Muslim ambassadors to the Vatican on 25 September in an attempt to pacify anger over his reference to a medieval text which said Islam was spread by violent means. 'The purpose of this meeting is to relaunch dialogue with the Islamic world,' a senior Vatican official told Reuters news agency on 22 September. 'We welcome it and are definitely going to participate,' Ahmed Faihma, Iran's deputy ambassador to the Vatican said. 'This is a positive sign

  • Power plant repairs accelerate

    Sweden on 13 September signed an agreement with the Palestinian Energy Authority to finance repairs of the substation at the Gaza power plant, damaged by Israeli air strikes in late June. Egyptian German Electrical Manufacturing Company (Egemac) will supply the transformers and carry out the repairs. Egypt in mid-September activated a 1.5-kilometre, 5-MW transmission line connecting Rafah and the Egyptian side of the Gaza border. Egypts Canal Company for Electricity Distribution.is supplying

  • Power plant repairs accelerate

    Sweden on 13 September signed an agreement with the Palestinian Energy Authority to finance repairs of the substation at the Gaza power plant, damaged by Israeli air strikes in late June. Egyptian German Electrical Manufacturing Company (Egemac) will supply the transformers and carry out the repairs. Egypt in mid-September activated a 1.5-kilometre, 5-MW transmission line connecting Rafah and the Egyptian side of the Gaza border. Egypt's Canal Company for Electricity Distribution.is supplying

  • Prequalification announced for ring-road

    The Ministry of Public Works has prequalified nine contractor groups for the second phase of the first ring-road project. A tender is due to be issued soon. The scope of works on the estimated $100 million-200 million contract covers the upgrade to expressway status of the section between Dasman and Abdullah al-Ahmed streets. The work also includes the upgrade of interchanges, road widening and tunnelling as well as stormwater drainage. The prequalification notice for the third and final phase b

  • Prequalification begins for Al-Raha infrastructure

    Selected companies have submitted prequalification documents for infrastructure works on the AED 54,000 million ($14,700 million) Al-Raha beach development planned by local real estate developer ALDAR Properties. The prequalification covers a series of packages covering road works, interchanges, bridges and utility services.The roadworks packages will involve the construction of a 10-kilometre-long three-lane dual carriageway, a 10-kilometre-long two-lane dual carriageway and 10 kilometr

  • Prequalification starts for strategic road project

    The Works & Housing Ministry has invited companies to submit prequalification documents by 5 September for a strategic plan to upgrade strategic roads and junctions throughout the kingdom. The project includes roadworks, bridges, underpasses and the installation and relocation of services.

  • President issues consumer protection law

    UAE President Sheikh Khalifa bin Zayed al-Nahyan has issued a new law that calls for the setting up of a special committee to protect consumer rights across the federation. Known as the Higher Committee for Consumer Protection, the committee will be chaired by Economy & Planning Minister Sheikha Lubna al-Qassimi and will include two representatives from the Emirates Society for Consumer Protection. The law also calls for the cabinet to issue a decree outlining the committees functions and a sepa

  • Prices in for Ruwais seawater expansion

    Abu Dhabi Oil Refining Company (Takreer) has received commercial bids for the project management consultancy (PMC) services contract covering a major expansion of the existing seawater cooling system at Ruwais. The bidders are the US/Canadian VECO, the UKs Mott MacDonald, Tebodin of the Netherlands, Germanys Fichtner and Australias WorleyParsons. The expansion of the general utilities and power plant (GUP) will serve the needs of several new industrial projects planned in the Ruwais area (MEED 1

  • Prices rebound on fears of OPEC output cuts

    Oil prices increased marginally in late September amid growing concerns that OPEC will cut production to support higher prices, following six consecutive weeks of falls. 'At this point, speculation is primarily driving the market,' says an analyst at the Paris-based International Energy Agency (IEA). Oil prices jumped by $2 a barrel on 27 September in response to panic buying from traders looking to buy up stocks in anticipation of production cuts.

  • PRICES: Fire-fighting

    When a report was published last year holding out the spectre of oil prices reaching $100 a barrel, its authors were widely derided as scaremongering headline-seekers. Perhaps so. But as the price of Spot Brent crude nudged $80 a barrel in early August, the scenario suddenly seems less far-fetched.

  • Prince wins Rupali race

    The Bangladeshi cabinet has approved Prince Bandar bin Abdullah bin Mohammed al-Sauds offer of $330 million to take a 67 per cent stake in state-owned Rupali Bank. The troubled bank has assets of some $2,000 million and about 500 branches. Prince Bandar, who is president and chief executive officer of Saudi Arabias Soroof International, offered the highest price for the stake during bidding earlier in the year and is understood to be planning to open branches in Saudi Arabia to capture business

  • PRIVATE SECTOR OIL: Taking an interest

    Giving up a monopoly can't be easy.

  • PROJECT FINANCE: Filling the funding gap

    A chorus of groans is the habitual response of bankers these days as yet another GCC debt package lands on their desks. Terms are becoming increasingly unfavourable for financiers, as prices shrink and tenors expand (see box). But a buyer's is about to become a seller's market. More than $1 trillion worth of projects are planned in the GCC, requiring tens of billions of dollars of debt. Bank market capacity is set to be stretched to breaking point. Borrowers in the busiest markets will be for

  • Project managers prepare to price Manifa

    Saudi Aramco has invited companies to submit bids by 19 September for the contract to provide project management consultancy (PMC) and front-end engineering and design (FEED) services on the onshore element of its Manifa oil field redevelopment in the Eastern Province. The contract includes construction management and assistance in the procurement of long-lead items (MEED 9:6:06).

  • Project managers prepare to price Manifa

    Saudi Aramco has invited companies to submit bids by 19 September for the contract to provide project management consultancy (PMC) and front-end engineering and design (FEED) services on the onshore element of its Manifa oil field redevelopment in the Eastern Province. The contract includes construction management and assistance in the procurement of long-lead items (MEED 9:6:06).

  • PROJECT UPDATE: Atlantis rises from the waves

    An aerial photo of the Atlantis hotel and resort shows 16 tower cranes swinging into action. Once completed in late 2008, the multi-billion-dollar resort will be the largest development on the crescent of Palm Jumeirah. Work began late last year, and since then, the foundation works, including more than 2,000 piles, have been completed and the concrete superstructure to support the Royal Tower hotel, conference centre and entertainment village has begun to rise out of the ground.

  • PUMPS: Hydraulic lift

    While Saudi Aramco's multi-billion-dollar upstream oil field developments have naturally taken most of the news headlines, behind the scenes a sea change is taking place that is set to maximise value-added and labour-intensive industries. Across the kingdom, millions of dollars are being invested in service centres that aim to bring the manufacturing base closer to home.

  • PUMPS: Hydraulic lift

    While Saudi Aramcos multi-billion-dollar upstream oil field developments have naturally taken most of the news headlines, behind the scenes a sea change is taking place that is set to maximise value-added and labour-intensive industries. Across the kingdom, millions of dollars are being invested in service centres that aim to bring the manufacturing base closer to home.

  • Putin in landmark visit to Morocco

    Russian President Putin on 7 September arrived in Morocco on the first visit by a Russian head of state to the country since 1961. Putin, who is accompanied by a delegation of business leaders, met King Mohammed VI for talks in Casablanca and signed agreements on bilateral co-operation. The Moroccan Foreign Exchange Office said on 5 September that Saudi Arabia and Iran had replaced Russia as the lead exporter of oil to Morocco in the first half of 2006. Russ

  • Qapco set to select polyethylene technology

    Technology selection is now expected by the end of the year for the high-pressure polyethylene project, planned by Qatar Petrochemical Company (Qapco). Two licensors Europes Basell and Italys Polimeri Europa are competing for the award on the 250,000-tonne-a-year (t/y) low density polyethylene (LDPE) unit at Mesaieed. Qapco will soon start basic engineering and order long-lead items such as compressors and high-pressure columns. A minimum of three contractors will be prequalified for the engin

  • Qasco gets Monaco help

    Monaco-based C Transport Maritime SAM (CTM) has been awarded the contract to supply iron ore pellets to the local Qatar Steel Company (Qasco). Under the deal, CTM will ship 3.36 million tonnes of pellets from Brazil and Sweden over a three-year period.

  • Qatalum considers alternative site

    The site preparation and quay wall tender for the proposed Qatalum smelter project at Mesaieed have been postponed while the client considers a proposal for an alternative site. Prequalifers had been given until 17 August to submit bids for the engineering, procurement and construction (EPC) contract. The tender was one of the first to be issued on the 570,000-tonne-a-year aluminium smelter project. Qatalum is a joint venture of Norway's Hydro and Qatar Petroleum (MEED 16:6:06).

  • QATAR

    Tender no PWA/GTC/055/06-07. Development of roads in Wakrah north and south, areas 1 and 4 (ERC-1412-D1-C1). Bid bond is QR 4.5 million.

  • QATAR

    Tender no GTC/06/269/OEG. Provision, on a call-off basis, of radiographic NDT services at Qatar Petroleum operating locations. Bid bond is QR 100,000.

  • QATAR

    Tender no GTC/06/264/OED. Upgrading of electrical facilities at PWI station 6 in the Dukhan fields. Bid bond is QR 100,000.Details on payment of QR 500 from Qatar Petroleum, Contracts Department, Room G-14, Fourth Floor, Block G, Royal Plaza, Al-Sadd Street, Doha.

  • QATAR

    Tender no PWA/GTC/056/06-07. Construction of the new Izghawa link road (ERC-1416-D1-C1). Bid bond is QR 2 million.

  • QATAR

    Tender no PWA/GTC/042/06-07. Carrying out road improvement works in the Emir and Muraikh zone 54 (RA-06/07-C/006/G). Bid bond is QR 200,000.

  • QATAR

    Tender no GTC/06/278/FSD. Maintenance of powered water injection flowlines on a call-off basis in the Dukhan fields. The scope of works comprises the replacement of corroded pipeline sections, painting and installation of high-density polyethylene (HDPE) liner, repositioning, and supply and installation of new pipeline supports where necessary. For the buried spurline sections, the road/track crossings must be diverted in order to be excavated, existing pipes inspected and recoated if require

  • QATAR

    Tender no 105/2006.Construction of overhead lines on a call-off basis. Bid bond is QR 280,000.Details on payment of QR 1,000 Qatar General Electricity & Water Corporation (Kahramaa), Distribution Department, Dafna.

  • QATAR

    Tender no 121/2006. Two years' supply of 100-kVA and 200-kVA pole-mounted transformers. Bid bond is QR 75,000.

  • QATAR

    Tender no GTC/06/199/MT. Supply of two 50-tonne, all-terrain hydraulic cranes. Bid bond is QR 250,000.

  • QATAR

    Tender no GTC/132/2006. Replacement of old water distribution pipes at various locations (package 1). The project comprises the supply and laying of DI pipes and fittings and upgrading of existing water distribution networks ranging from 100 millimetres to 900 millimetres over an approximate total length of 126 kilometres at Al-Ghanim al-Qadeem (south) and Umm Ghwalina, Al-Najma West, Al-Sadd, Madinat Khalifa north and south and West Bay 66A. Bid bond is QR 2 million.

  • QATAR

    Tender no PWA/GTC/051/06-07. Supply of a sewer jetting unit, a sludge transport tractor unit and a sludge transport trailer (OM/669/6.06/05-06). Bid bond is QR 167,500.

  • QATAR

    Tender no GTC/06/254/EP. Carrying out complete pressure volume temperature sampling and analysis, on a call-off, basis of fluids, as and when required, including but not limited to the collection of samples from onshore and offshore oil and gas wells and transportation to and from the contractor's laboratory. Bid bond is QR 250,000.

  • QATAR

    Tender no GTC/06/236/MIC. Carrying out landscaping and beautification works at various road locations within the Mesaieed industrial city community area including the design and construction of irrigation works. Bid bond is QR 180,000.

  • QATAR

    Tender no GTC/06/266/OED. Provision of maintenance support services for the Dukhan information centre in the Dukhan fields. Bid bond is QR 150,000.

  • QATAR

    Tender no GTC/06/240/DN. Supply, installation and commissioning for the replacement of a fluid catalytic cracker (FCC) regenerator and expansion joints at Mesaieed refinery. Bid bond is QR 100,000.

  • QATAR

    Tender no 135/2006. Three years supply of package substations.Bid bond is QR 500,000.Details on payment of QR 1,000 from Qatar General Electricity & Water Corporation (Kahramaa), First Floor, Materials Department, Building 2, Dafna.

  • QATAR

    Tender no GTC/132/2006. Replacement of old water distribution pipes at various locations (package 1). The project comprises the supply and laying of DI pipes and fittings and upgrading of existing water distribution networks ranging from 100 millimetres to 900 millimetres over and approximate total length of 126 kilometres at Al-Ghanim al-Qadeem (south) and Umm Ghwalina, Al-Najma West, Al-Sadd, Madinat Khalifa north and south and West Bay 66A. Bid bond is QR 2 million.

  • QATAR

    Tender no PWA/GTC/049/06-07. Construction of the Salwa TSE main and TBZTSE civil projects, nos 723 and 724. Bid bond is QR 2.6 million.

  • QATAR

    Tender no PWA/GTC/021/06-07/R. Expansion to dental clinics at the Omar bin Khatab and Al-Wakrah health centres (BHC 2005017). Bid bond is QR 600,000.

  • QATAR

    Tender no PWA/GTC/013/06-07. Refurbishment of the Doha Rayyan sewerage pumping station, phase 6 (CP-C208/5-DFA 0207C1). Bid bond is QR 3 million.

  • QATAR

    Tender no PWA/GTC/048/06-07. Construction of the new PS 25 civil project, no 678. Bid bond is QR 7 million.

  • Qatar Airways signs aircraft deals

    Flag carrier Qatar Airways has signed two deals for the lease of six new aircraft and the purchase of 40 jet engines. The lease deal covers the hire of six new aircraft manufactured by Europes Airbus. Under the terms of the contract, signed with the US CIT Aerospace, Qatar Airways will lease one A320 and five A321-200 narrow-body passenger jets. The airline also signed a contract, worth $750 million, with the US GE Aviation for the supply of 40 of its GE90 engines. The engines will power 14 777-

  • Qatar National Bank flies east, west and south

    Qatar National Bank (QNB) has received approval to set up operations in Libya, Yemen and Singapore. 'We have an ambitious expansion plan,' says QNB executive manager of international banking Yousef al-Naama. 'These three are just the beginning.'

  • Qatargas 4 arrangers appointed

    A 30-strong group of mandated lead arrangers (MLAs) has been appointed on the $2,800 million bank tranche of the financing of the Qatargas 4 integrated liquefied natural gas (LNG) project. Royal Bank of Scotland is acting as financial adviser (MEED 1:9:06).

  • Qatari troops to join UN force in Lebanon

    Qatar on 4 September said it will contribute 200-300 troops to the UN force in Lebanon, making it the first Arab country to do so. 'We have decided that Qatar will participate in UNIFIL (UN Interim Force in Lebanon) by sending 200-300 military personnel and we believe UNIFIL must have specific duties on the ground,' Foreign Affairs Minister Sheikh Hamad al-Thani said during a visit by UN Secretary-General Kofi Annan to Doha. Qatar is the only Gulf state to maintain low-lev

  • QFCA gets its taxman

    The Qatar Financial Centre Authority (QFCA), the regulator of the Qatar Financial Centre, has appointed Ian Anderson as head of tax. Anderson will oversee the development of the financial centre's tax regime. He joins the QFCA from the UK's leisure travel operator MyTravel Group.

  • QIB to manage Masrafy placement

    Abu Dhabi Investment House (ADIH) has signed a memorandum of understanding (MoU) with Qatar Islamic Bank (QIB) to arrange a private placement to Qatari nationals of shares in Bahrain-based bank Masrafy. On offer until 30 October will be 66 million shares priced at $1.50, equivalent to 20 per cent of the banks paid-up capital of $500 million. Masrafy, a joint venture of ADIH, QIB and Kuwait Investment House, is targeted at high-net-worth women in the region. It received a licence from the Central

  • QNB and Barwa tie up for real estate

    QNB Al-Islami, the sharia-compliant operation of Qatar National Bank (QNB), has signed a QR 1,000 million ($275 million) financing agreement with the local Barwa Real Estate Company to fund its real estate projects. Barwa has launched a QR 5,000 million ($1,373 million) tourism and residential development north of Al-Khor and is planning a£E 8,000 million ($1,391 million) residential development in Egypt (MEED 18:8:06)

  • QSTP: Developing the knowledge economy

    When Eulian Roberts was appointed chief executive officer of Qatar Science & Technology Park (QSTP), he was afraid the park's clients would simply set up representative offices with just a handful of staff. Three years on, he has more mundane concerns. 'Now I have to worry about whether we have enough space for testing equipment and X-ray machines - but these are nice things to worry about,' he says.

  • Q-Tel plans war chest

    Qatar Telecom (Q-Tel) is understood to have appointed Qatar National Bank to carry out advisory work on a planned QR 2,000 million ($549.5 million) financing facility. The loan is likely to be used as a war chest for future expansion at home and abroad, along the lines of recent syndicated borrowings by Kuwaits MTC and the UAEs Emirates Telecommunications Company (Etisalat). Q-Tel is aiming to become one of the top three operators in the region over the next five years and is eyeing forthcoming

  • Rafah crossing reopens

    The Rafah border crossing between Egypt and Gaza reopened on 22 September for two days. Officials said only students, the sick and those travelling to Mecca during the Muslim holy month of Ramadan would be allowed to cross. However, the restrictive measures are to be lifted on 23 September. The Rafah terminal has been open only intermittently since Palestinian militants kidnapped an Israeli soldier in a cross-border raid on 25 June. It was last open in mid-August. EU monit

  • RAK orders a Currie

    UK-based Currie & Brown has been appointed to provide project management services on the AED 660 million ($180 million) first phase of the La Hoya Bay Residence development in Ras al-Khaimah. The project involves the construction of 725 residential units, leisure and commercial facilities. The local Khoie Properties is the client.

  • Rally stampede kills 42

    At least 42 people were killed and dozens more injured during a stampede at a Yemeni stadium on 12 September. The crush occurred as people tried to leave the stadium following a pre-election speech by President Saleh. About 300,000 had attended the rally in the southern province of Ibb, south of the capital Sanaa. The incident comes one day after at least four Yemenis were killed during a similar rally in Taiz. Yemen is due to hold presidential and local council elections

  • Rally stampede kills 42

    At least 42 people were killed and dozens more injured during a stampede at a Yemeni stadium on 12 September. The crush occurred as people tried to leave the stadium following a pre-election speech by President Saleh. About 300,000 had attended the rally in the southern province of Ibb, south of the capital Sanaa. The incident comes one day after at least four Yemenis were killed during a similar rally in Taiz. Yemen is due to hold presidential a

  • RAM to take majority stake in Air Mauritanie

    Flag carrier Royal Air Maroc (RAM) has agreed to take a 51 per cent stake in Mauritanian flag carrier Air Mauritanie. The terms of the acquisition will be finalised at a meeting in Nouakchott on 1 September.

  • RAM to take majority stake in Air Mauritanie

    Flag carrier Royal Air Maroc (RAM) has agreed to take a 51 per cent stake in Mauritanian flag carrier Air Mauritanie. The terms of the acquisition will be finalised at a meeting in Nouakchott on 1 September.The two carriers agreed to increase economic and technical co-operation and to promote the development of air links between the two countries. The acquisition is part of RAM's broader strategy to take stakes in northwest African carriers. The airline already has stakes in airlines

  • RasGas 3 bond heads for the US market

    RasGas 3, a 70:30 joint venture of Qatar Petroleum and the US' ExxonMobil Corporation, has launched marketing for a $1,855 million 144a bond targeted primarily at US investors. The paper is guaranteed by Ras Laffan Liquefied Natural Gas Company II (RasGas II), which has the same shareholders.

  • RasGas 3 bond heads for the US market

    RasGas 3, a 70:30 joint venture of Qatar Petroleum and the US ExxonMobil Corporation, has launched marketing for a $1,855 million 144a bond targeted primarily at US investors. The paper is guaranteed by Ras Laffan Liquefied Natural Gas Company II (RasGas II), which has the same shareholders.

  • RBS takes Segas advisory

    Royal Bank of Scotland (RBS) has been appointed financial adviser by Spanish Egyptian Gas Company (Segas) for the refinancing of a commercial debt facility taken out in 2004 to fund the construction of its 4.9 million-tonne-a-year liquefied natural gas (LNG) project at Damietta.

  • Red sea study awarded

    The Egyptian Energy & Electricity Ministry and Saudi Arabian Water & Electricity Ministry have selected the Brussels office of Belgium's Tractebel Engineering for a contract to carry out a feasibility study covering the interconnection of the two countries' national grids. The contract is due to be signed soon.

  • Refinancing activity grows

    A spate of projects in the sultanate are in the process of being refinanced, as sponsors move to take advantage of favourable market conditions that have seen pricing reduced and tenors lengthened on recent deals. Calyon is arranging the refinancing of the debt for the Barka I independent water and power project (IWPP) being developed by AES Barka Holdings.

  • Refinancing activity grows

    A spate of projects in the sultanate are in the process of being refinanced, as sponsors move to take advantage of favourable market conditions that have seen pricing reduced and tenors lengthened on recent deals. Calyon is arranging the refinancing of the debt for the Barka I independent water and power project (IWPP) being developed by AES Barka Holdings.The original $348.6 million, 16-year financing, taken out in 2001, had a step-up margin starting at 115 basis points (bp) du

  • Refinery deadline extended again

    The bid deadline has been extended by just under a month to 29 October for the four main process packages on the new 615,000-barrel-a-day refinery planned by Kuwait National Petroleum Company (KNPC). A total of 12 international companies and groups are prequalified (MEED 15:9:06).

  • Regional gateway study gets under way

    The State Planning Commission has awarded the contract to provide consultancy services on a transport masterplan aimed at developing the country into a regional gateway. The study, awarded to a team of the UK office of Germanys BMT Transport Solutions with Greeces Transeuropean Consultants for Transport, Development & Information Technology and Frances NESTEAR, will look at regional trade patterns, forecasts of Damascus transit freight potential and transport links between European seaports and

  • REGULATION: Slowly does it

    Calls for regulation and standardisation of the Islamic finance industry in the Middle East resound among market participants, watchers and institutions uncertain but keen to dip their toes in the swelling pool of sharia-compliant liquidity. Many analysts maintain these two pillars of the banking sector will materialise only after the regional market has reached critical mass. Sheikh Nizam Yaquby, a renowned sharia scholar and established presence on banks sharia advisory boards across the r

  • REGULATION: Slowly does it

    Calls for regulation and standardisation of the Islamic finance industry in the Middle East resound among market participants, watchers and institutions uncertain but keen to dip their toes in the swelling pool of sharia-compliant liquidity. Many analysts maintain these two pillars of the banking sector will materialise only after the regional market has reached critical mass. Sheikh Nizam Yaquby, a renowned sharia scholar and established presence on banks' sharia advisory boards across the r

  • Report reveals more about Hariri bomber

    The UN investigation into the assassination of former Lebanese Prime Minister Rafiq Hariri has found more evidence to suggest he was killed by a suicide bomber. Forensic testing found that the perpetrator of the truck bomb which killed 23 people in February 2005 was probably between 20 and 25 years old. The report said that a tooth with a distinctive crown found at the site of the explosion suggests that the bomber was not Lebanese. Investigators suspect that the man detonated 1,800 kilo

  • Retirement organisation expands HQ

    The Retirement Pension Directorate has invited contractors to submit bids by 6 October to expand its headquarters on Riyadhs Al-Washem road. The project centres on the construction of a six-storey building with a built-up area of 13,000 square metres. The project includes construction of a pedestrian passageway linking the new building with the second floor of the existing HQ structure, car parking facilities and associated amenities. The work will take about two years to complete.

  • Retirement organisation expands HQ

    The Retirement Pension Directorate has invited contractors to submit bids by 6 October to expand its headquarters on Riyadh's Al-Washem road. The project centres on the construction of a six-storey building with a built-up area of 13,000 square metres. The project includes construction of a pedestrian passageway linking the new building with the second floor of the existing HQ structure, car parking facilities and associated amenities. The work will take about two years to complete.

  • Revenge drove Jordanian to kill

    Jordanian officials have said a gunman who opened fire on foreign tourists in Amman was driven by a desire for revenge. 'The criminal admitted during investigations that he wanted to avenge two of his brothers, members of Palestinian organisations, who were killed in an Israeli raid on Lebanon,' government spokesperson Nasser Joudeh said on 6 September. Officials have stressed that the attacker is not linked to any terrorist organisations.One Briton was killed during the a

  • Revised bids in for Mesaieed IPP

    Bid evaluation has restarted for the 2,000-MW independent power project (IPP) at Mesaieed after the three original bidding groups submitted revised proposals based on a reduced scope of works. The steering committee, made up of Qatar General Electricity & Water Corporation (Kahramaa), Qatar Petroleum and Qatar Electricity & Water Company, is aiming to make a selection in the second half of September. The bidders are: the UKs International Power with Chubu Electric Power Company and Mitsui & Comp

  • Revised bids in for Mesaieed IPP

    Bid evaluation has restarted for the 2,000-MW independent power project (IPP) at Mesaieed after the three original bidding groups submitted revised proposals based on a reduced scope of works. The steering committee, made up of Qatar General Electricity & Water Corporation (Kahramaa), Qatar Petroleum and Qatar Electricity & Water Company, is aiming to make a selection in the second half of September. The bidders are: the UK's International Power with Chubu Electric Power Company and Mitsui &

  • Revised prices in for Wharf

    Revised prices were submitted on 17 September to Al-Khaleej Development Company (Tameer) by the two shortlisted bidders for the estimated BD 9 million ($23.7 million) dredging and reclamation contract on the Bahrain Investment Wharf (BIW) project.The bidders are Belgiums Dredging International and the Netherlands Royal Boskalis Westminster. The contract calls for the dredging of about 6.5 million cubic metres of material. Bids are due on 24 September from about nine companies for the inf

  • Revised prices in for Wharf

    Revised prices were submitted on 17 September to Al-Khaleej Development Company (Tameer) by the two shortlisted bidders for the estimated BD 9 million ($23.7 million) dredging and reclamation contract on the Bahrain Investment Wharf (BIW) project.

  • Revised schedule for Mesaieed

    The three developers bidding for the 2,000-MW Mesaieed independent power project (IPP) have been asked to submit revised proposals by 31 August. The move follows the decision in mid-July to drop the desalination component of the project (MEED 4:8:06).

  • Revised schedule for Mesaieed

    The three developers bidding for the 2,000-MW Mesaieed independent power project (IPP) have been asked to submit revised proposals by 31 August. The move follows the decision in mid-July to drop the desalination component of the project (MEED 4:8:06).

  • RFP awaited for Abu Dhabi STPs

    The request for proposals (RFP) will be issued by the end of September for the build-own-operate-transfer (BOOT) contract covering sewage treatment plants (STPs) in Abu Dhabi and Al-Ain.

  • RFP awaited for Abu Dhabi STPs

    The request for proposals (RFP) will be issued by the end of September for the build-own-operate-transfer (BOOT) contract covering sewage treatment plants (STPs) in Abu Dhabi and Al-Ain.Prequalification of developers has been completed after submissions were made in mid-July.The BOOT project covers: in Abu Dhabi, the acquisition of the existing 340,000-cubic-metre-a-day (cm/d) Mafraq STP and its expansion by 200,000 cm/d; and in Al-Ain, the acquisition of the existing 54,000-

  • Rice wants sanctions against Syria

    US Secretary of State Condoleezza Rice on 26 September said America would like to see more countries support sanctions against Syria. 'We would like to get some others to join us in other kinds of sanctions [against Syria],' Rice told the New York Times. 'We are going to have to have to look at tougher measures if Syria continues to be on the path that it is on.'Syria features on Washington's list of states sponsoring terrorism. The US recalled its ambassador to Syria foll

  • Riyadh cancels border fence tender

    The Defence & Aviation Ministry has cancelled the tender to build a major security fence along the entire length of its border with Iraq. According to sources close to the project, the client is looking to appoint a consultant on the scheme before issuing a new tender at a later stage. Eleven local contractors submitted bids in July for the contract (MEED 28:7:06). The estimated $530 million project centres on the construction of a 900-kilometre-long, double-lined fence that will include 135 ele

  • Riyadh invites light rail consultants

    Arriyadh Development Authority (ADA) has invited international consultants to submit bids by mid-October for the contract to provide consultancy services for the proposed $2,000 million Riyadh light railway (LR) project.

  • Riyadh: Tackling gridlock

    'You have more chance of dying in a car crash than in a terrorist attack,' says Abdulaziz, a Yemeni taxi driver as he burns his third red light in as many minutes. Riyadh's roads have reached boiling point, but few pay much attention to the dangers lurking at every street corner.

  • Road consultancy tenders due

    The Public Works & Highways Ministry plans to issue tenders on 30 November for a contract to provide consultancy services covering rural access projects. The project includes construction of 46 kilometres of rural intermediate roads and maintenance of existing asphalt road projects with a total length of 700-900 kilometres. The successful bidder will undertake construction supervision of the road projects, technical assistance and training. Work on the project, which is funded by the Internation

  • S&P rates Qatari credits

    Standard & Poor's (S&P) has reissued a batch of credit ratings for Qatar. The rating agency affirmed the country's A+ long-term and A-1 short-term sovereign credit ratings with a stable outlook. S&P also affirmed Qatar Petroleum's A+ foreign currency issuer credit rating with a stable outlook and an A+ rating for Qatar Global Sukuk's $700 million notes that mature in 2010.

  • Saddam ejected again

    The chief judge presiding over the trial of Saddam Hussein ejected the former Iraqi leader from court for the third time in a week on 26 September. Judge Mohammed al-Oraibi ordered Saddam to behave himself before throwing him out. 'You are a defendant and I am a judge,' he told Saddam. When Saddam's co-defendants began to protest, the judge said: 'Shut up, no-one talk the court decided to eject Saddam Hussein from court.' According to Reuters, the judge then ejected all of Saddam's co-d

  • Saddam Hussein thrown out of court again

    Saddam Hussein was thrown out of court for the second time in a week on 25 September. The defence team again boycotted the trial. Judge Mohammed Oraibi al-Khalifa ejected Saddam from the courtroom after refusing to allow him to be let out of his metal cage (MEED 20:9:06).

  • Saddam judge dismissed

    The Iraqi government on 19 September announced that it had replaced the chief judge presiding over the trial of Saddam Hussein after it appeared he was biased towards the former Iraqi leader. 'We have asked the court to replace the judge because he has lost his neutrality after he made comments saying Saddam is not a dictator,' government spokesperson Ali al-Dabbagh told Reuters news agency. International legal groups have warned that the government's interference in the p

  • Saddam judge dismissed

    The Iraqi government on 19 September announced that it had replaced the chief judge presiding over the trial of Saddam Hussein after it appeared he was biased towards the former Iraqi leader. 'We have asked the court to replace the judge because he has lost his neutrality after he made comments saying Saddam is not a dictator,' government spokesperson Ali al-Dabbagh told Reuters news agency. International legal groups have warned that the governm

  • Sailing on

    The UAE has emerged as one of the UK's top 10 export markets, according to statistics released in July by the UK's Department of Trade & Industry. As well as reflecting the strong trading links between the two nations, it also demonstrates how much the federation has developed over the past decade and its growing importance on the world stage.

  • Salameh mulls new recon fund

    Beirut is considering plans to establish a new fund that will manage the reconstruction of the country's infrastructure following the recent conflict with Israel. The fund will rival existing infrastructure bodies - the Council for Development & Reconstruction (CDR) and the Council of the South.

  • Saleh takes the lead in polls

    Incumbent Yemeni President Saleh has taken the in elections held on 20 September. Preliminary results showed Saleh had received more than 80 per cent of the vote, while opposition candidate Faisal bin Shamlan secured only 16 per cent. An estimated 5 million of the 9.2 million eligible voters turned out to vote. At least three people were killed during skirmishes at polling stations. The Opposition coalition put the death toll at eight and told Reuters news agency 30 voting irregularities

  • Saleh takes the lead in polls

    Incumbent Yemeni President Saleh has taken the in elections held on 20 September. Preliminary results showed Saleh had received more than 80 per cent of the vote, while opposition candidate Faisal bin Shamlan secured only 16 per cent. An estimated 5 million of the 9.2 million eligible voters turned out to vote. At least three people were killed during skirmishes at polling stations. The Opposition coalition put the death toll at eight and told Reuters news agency 30 voting irre

  • Sanaa detains Al-Qaeda militant

    Yemeni security forces have detained an alleged Al-Qaeda militant who was planning attacks against US targets, President Saleh announced on 19 September. 'We discovered today that a senior terrorist was planning attacks in Sanaa against American interests and he was arrested. Yemeni officials said the man identified as Hussein al-Jirdani was a bodyguard for Faisal bin Shamlan, an opposition candidate running in the upcoming presidential elections. However, a spokesperson f

  • Sanaa detains Al-Qaeda militant

    Yemeni security forces have detained an alleged Al-Qaeda militant who was planning attacks against US targets, President Saleh announced on 19 September. 'We discovered today that a senior terrorist was planning attacks in Sanaa against American interests and he was arrested. Yemeni officials said the man identified as Hussein al-Jirdani was a bodyguard for Faisal bin Shamlan, an opposition candidate running in the upcoming presidential elections.

  • Saptco ups capital

    Saudi Public Transport Company (Saptco) plans to raise its capital to SR 1,250 million ($333 million) from SR 1,000 million ($267 million) through the issue of bonus shares. The increase will be financed by the company's retained profits. Shareholders will be offered one new share for every four held. Saptco operates bus services within the kingdom and to destinations in the GCC. The company posted net profits of SR 572 million ($152 million) for the first half of 2006, up 82 per cent from SR 31

  • SAUDI ARABIA

    Expressions of interest. Project no P101119. Provision of consultancy services for the Medina vision, strategic plan support as part of the Medina al-Monowarah city development strategy. The three main components of the development strategy are: 1) local economic development: to build up the economic capacity of the city, identify and support its most competitive economic sectors and clusters, improve its economic future and create better conditions for local economic growth, investment clima

  • Saudi Arabia denies Israel meeting

    Saudi Arabia on 26 September dismissed media reports which claimed a senior member of the royal family had held talks with Israeli officials, including Prime Minister Ehud Olmert. 'A Foreign Ministry source said there is absolutely no truth to Israeli and Qatari media reports on contacts between Saudi and Israeli officials,' the official Saudi Press Agency reported. 'The source said the news is completely fabricated and that the kingdom is carrying out its nationalist role transparently

  • SAUDI ARAMCO: Aramco on the record

    In late August, in response to questions from MEED, the world's biggest oil company revealed its most detailed plans yet of a massive upstream investment programme (MEED 25:8:06, Cover Story). The transcript is reproduced here in fullOf late, there has been a massive surge in upstream projects. Why this spurt in project activity?

  • SAUDI ARAMCO: Aramco on the record

    In late August, in response to questions from MEED, the worlds biggest oil company revealed its most detailed plans yet of a massive upstream investment programme (MEED 25:8:06, Cover Story). The transcript is reproduced here in fullOf late, there has been a massive surge in upstream projects. Why this spurt in project activity?According to the International Energy Agency (IEA), over the next 25 years overall global energy demand is forecast to grow by nearly 60 per cent.

  • Saudi Binladin group: Positive branding

    The name Binladin has conjured up so many negative connotations that it would not have been a surprise if Saudi Binladin Group (SBG) had opted to wipe the slate clean and start again under a new brand name. Indeed, its corporate website disappeared on the day of the 11 September 2001 attacks, never to return, and one of the group's subsidiaries, Binladin Telecommunication, has reinvented itself as Baud Telecommunication Company.

  • Saudi Binladin takes multiple dam work

    Saudi Binladin Group (SBG) has been awarded a SR 98 million ($26 million) contract to build three dams in Mecca governorate. Work centres on the construction of the Majar al-Kabsh dam, King Khaled Northern dam and the Western Shoaib dam. The scope also includes construction of tunnels. The project aims to improve and upgrade the Mina and Muzdalifa storm water drainage systems. SBG will mobilise in January with work taking 11 months to complete. Beirut-based Dar al-Handasah (Shair & Partners)

  • Saudi Binladin takes multiple dam work

    Saudi Binladin Group (SBG) has been awarded a SR 98 million ($26 million) contract to build three dams in Mecca governorate. Work centres on the construction of the Majar al-Kabsh dam, King Khaled Northern dam and the Western Shoaib dam. The scope also includes construction of tunnels. The project aims to improve and upgrade the Mina and Muzdalifa storm water drainage systems. SBG will mobilise in January with work taking 11 months to complete. Beirut-based Dar al-Han

  • Saudia: Winds of change

    Saudi Arabian Airlines (Saudia) flew more than 16 million passengers in 2005. Although newcomers such as Emirates and Qatar Airways have seen meteoric growth, the state-owned carrier remains the region's number one airline.

  • SBG plans industrial park

    Saudi Binladin Group (SBG) has started detailed designs for the construction of a new industrial complex located on the Damascus-Baghdad highway, about 35 kilometres from the city centre. The company, which has bought the land, plans to set up 10 factories including an aluminium plant, a precast factory and a waterproofing facility. The complex will cover an area of about 200,000 square metres and will take 18 months to complete.

  • SBG plans industrial park

    Saudi Binladin Group (SBG) has started detailed designs for the construction of a new industrial complex located on the Damascus-Baghdad highway, about 35 kilometres from the city centre. The company, which has bought the land, plans to set up 10 factories including an aluminium plant, a precast factory and a waterproofing facility. The complex will cover an area of about 200,000 square metres and will take 18 months to complete.

  • SBG/Oger vie for Jeddah

    The General Authority for Civil Aviation (GACA) has received bids from two local contractors for the design-and-build terminal facilities upgrade package at King Abdulaziz International Airport (KAIA) in Jeddah. An award is expected by the end of September (MEED 28:7:06).

  • SBG/Oger vie for Jeddah

    The General Authority for Civil Aviation (GACA) has received bids from two local contractors for the design-and-build terminal facilities upgrade package at King Abdulaziz International Airport (KAIA) in Jeddah. An award is expected by the end of September (MEED 28:7:06).Saudi Binladin Group and Saudi Oger submitted four alternative prices covering the upgrade and expansion of the existing north, south and hajj terminals. The contract is valued at SR 600 million-900 million ($160 mil

  • Scaling the heights

    Gulf banks are growing up fast. Booming economies have driven soaring demand for new and more sophisticated products, and the increasing number of international banks active in the region now face tough competition from their local counterparts. Nowhere is the trend more evident than in the domain of investment banking.

  • Search begins for refinery project manager

    Qatar Petroleum (QP) has invited prequalifications by 26 September for the project management consultancy and front-end engineering and design (FEED) package on the planned Al-Shaheen refinery project. US-based Jacobs Engineering with Beicip of France is carrying out the pre-FEED package. The grassroots refinery is expected to have capacity of about 200,000 barrels a day (b/d) and be located at Mesaieed, although QP has not ruled out Ras Laffan as a possible site. It will produce distillates, bi

  • SEC adopts new strategy for upcoming plants

    Saudi Electricity Company (SEC) has made a significant shift in its tendering strategy for two of its forthcoming power generation projects. The new strategy of splitting the turbine procurement from the main construction package has been adopted to keep projects on schedule and to budget.Three international turbine manufacturers Japans Mitsubishi Heavy Industries, Germanys Siemens and the US GE Power Systems have been invited to bid by the end of September for two gas turbine supply c

  • SEC seeks PP8 substation builders

    Saudi Electricity Company (SEC) has invited seven local and international contractors to submit bids by 10 October for a new 380-kV substation to serve the planned PP8 power plant expansion in Riyadh (see page 26). The prequalifiers for the estimated $50 million contract are: Al-Babtain Contracting, Al-Toukhi Contracting, Al-Fanar and SSEM, all local; the South Korean/local Middle East Engineering & Development Company (Meedco); Germanys Siemens; and Europes ABB. The bid deadline for a similar c

  • Sell-offs accelerate

    Awards are approaching for two major privatisations relating to Central Electricity Generating Company (Cegco) and flag carrier Royal Jordanian (RJ).

  • Sell-offs accelerate

    Awards are approaching for two major privatisations relating to Central Electricity Generating Company (Cegco) and flag carrier Royal Jordanian (RJ).The Executive Privatisation Commission (EPC) has given prequalified financial investors until the end of August to submit bids for a 51 per cent stake in Cegco.'An extension to the bid submission date has been granted to three shortlisted prequalifiers, following the merger of two companies [in the process],' EPC chairman Mohamme

  • Senate approves FTA

    The US Senate on 19 September approved the US-Oman free trade agreement (FTA), leaving only the formality of signature by US President Bush for the deal to come into force. It was approved by the House of Representatives in late July. The US is the seventh biggest market for the sultanate's exports and the FTA will provide duty-free access for 100 per cent of consumer and industrial products and substantially liberalise trade in services (MEED 28:7:06).

  • Senate approves FTA

    The US Senate on 19 September approved the US-Oman free trade agreement (FTA), leaving only the formality of signature by US President Bush for the deal to come into force. It was approved by the House of Representatives in late July. The US is the seventh biggest market for the sultanates exports and the FTA will provide duty-free access for 100 per cent of consumer and industrial products and substantially liberalise trade in services (MEED 28:7:06).

  • Serept gets Ashtart revamp

    Societe de Recherche et dExploitation des Petroles en Tunisie (Serept), a 50:50 joint venture of state oil company Entreprise Tunisienne dActivites Petrolieres (ETAP) and Austrias OMV, is to carry out a major revamp of systems and processes on the countrys second largest oil field at Ashtart in the Gulf of Gabes.

  • Series of blasts kill 70 in Baghdad

    Up to 70 people were killed and 100 more wounded by a series of explosions which rocked a Shia area of Baghdad on 31 August. The almost simultaneous blasts targeted homes and shopping areas in the capital. Police said the first explosions were caused by seven Katyusha rockets. Several mortar round blast followed. A day earlier Iraqi Prime Minister Nouri al-Maliki said Iraqi forces were ready to take control of security in a second province in the south of the country. 'Thi

  • Seventh haven for Plan dAzur

    Five prequalified companies are due to submit technical and commercial proposals by 19 September for the contract to develop phases 2 and 3 of the estimated $500 million Mdiq/Fnideq resort on the Mediterranean coast.The prequalifiers are: Singapore-based Banyan Tree, the local Royal Gulf Palmeraie, Fadesa and Med Group, both of Spain, and a company known as Caledonia. The resort is the seventh to be proposed under the kingdoms flagship tourism development programme, Plan dAzur, origi

  • SFCCL moves on methanol

    The Danish/Indian consortium of Haldor Topsoe andLarsen & Toubro hasbeen formally awarded the$145 million contract to build two new methanol and carbon monoxide units at the Jubail-based formaldehyde complex, planned by Saudi Formaldehyde Chemical Company (SFCCL). The group was selected for the work late last year (MEED 23:12:05).

  • Shebaa Farms could be open to discussion, says Olmert

    Israeli Prime Minister Ehud Olmert says Tel Aviv is willing to discuss the status of the disputed Shebaa Farms territory on the condition that Lebanon disarms Hezbollah, the Israeli daily Haaretz reported on 8 September. Olmert was speaking to Russian Foreign Affairs Minister Sergei Lavrov when he made the comment a day earlier.The Shebaa Farms area has been occupied by Israel since 1967 when it took the Golan Heights from Syria. The UN has said the area is Syria's territo

  • sheikh Hamdan heads Dubais executive council

    Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai, has appointed his son, Sheikh Hamdan bin Mohammed bin Rashid al-Maktoum, as the head of Dubais Executive Council. Sheikh Hamdan was born in Dubai in 1982 and graduated from Sandhurst Royal Military College in 2001.

  • Shinryo makes a splash with Palm Water

    The local Palm District Cooling has awarded Japans Shinryo Corporation the AED 191 million ($52 million) contract for the construction of two chiller plants which will provide 49,000 tonnes of cooling on the trunk of Palm Jumeirah. The plants will consist of large centrifugal chillers and 12 large compressor modules of which 10 will each have a capacity of 4,500 refrigeration tonnes. The facility will require about 44 MW of electrical power at peak load conditions during the summer, about half t

  • Ship repair yard gets ready to roll

    Qatar Gas Transport Company (Nakilat) is evaluating expressions of interest from contractors for the two main construction packages on its estimated $450 million-500 million ship repair yard project at Ras Laffan.

  • Ship repair yard gets ready to roll

    Qatar Gas Transport Company (Nakilat) is evaluating expressions of interest from contractors for the two main construction packages on its estimated $450 million-500 million ship repair yard project at Ras Laffan.

  • Ship repair: Another link in the chain

    What do you do if you are set to become the world's largest liquefied natural gas (LNG) exporter? Form a company to own and operate the world's biggest gas transportation fleet. And then? Establish a ship repair yard to service the fleet. And then? Set up related industries to service the shipyard. And the result? Strategic links are formed in the gas supply chain and a new industry is created.

  • Shuaiba north deadline extended

    The bid deadline has been extended by a month to 7 October for the contract to build the Shuaiba north power and desalination plant. Nine international contractors are prequalified for the engineering, procurement and construction (EPC) contract (MEED 12:5:06).

  • SIB to launch sukuk

    Sharjah Islamic Bank (SIB) will launch its first sukuk at the end of August. HSBC is the sole lead arranger and bookrunner for the sharia-compliant bond, which will have a value of about $200 million. Details of the issue are still being finalised, including its tenor, which is likely to be five years. Roadshows are scheduled to start on 11 September and take in the GCC, Asia and Europe. The sukuk is the first of a series of bonds expected to be issued by the bank.

  • Siemens casts shadow on solar project

    A consortium of Germany's Siemens and Cobra of Spain has withdrawn from the bidding for the estimated $250 million contract to develop the country's first solar hybrid power plant at Ain Beni Mathar.

  • Sinopec close to Yadavaran buyback deal

    China's Sinopec will sign a buyback agreement for the Yadavaran field by the end of November, according to deputy oil minister Hadi Nejad Hossainian. The two sides have approved Sinopec's master development plan for the field, but continue to negotiate the buyback contract. A parallel agreement for Beijing to buy liquefied natural gas (LNG) from Iran is also under discussion (MEED 24:2:06).

  • Sipchem selects Danish ammonia technology

    Saudi International Petrochemical Company (Sipchem) has selected Denmark's Haldor Topsoe to supply proprietary technology for its new ammonia plant in Jubail. The ammonia facility is a key element of Sipchem's multi-billion-dollar phase 3 petrochemicals complex (MEED 21:7:06).

  • Sipetrol hits new Bahariva discovery

    Sipetrol, the international subsidiary of Chile's state-owned oil company Empresa Nacional del Petroleo (Enap), announced in late August an oil discovery in its North Bahariva concession in the Western Desert. Sipetrol said the well tested at 570 barrels a day (b/d) and, as part of a development programme for the concession, would bring total oil production in North Bahariva to about 2,000 b/d.

  • SLP signs up for Al-Shaheen platforms

    Maersk Oil Qatar (MOQ), the local subsidiary of Denmark's Maersk Oil & Gas, has awarded another fabrication and installation contract on its offshore Al-Shaheen oil field development project. UK-based SLP Engineering has taken the estimated $100 million package 12, which covers the engineering, procurement, installation and commissioning (EPIC) of six accommodation platforms and related facilities.

  • Smelter advisory bids in

    Bids were submitted on 12 September for the financial advisory mandate on the estimated $6,000 million grassroots smelter project planned at Taweelah by a joint venture of Abu Dhabi-government-owned Mubadala Development Company and Dubai Aluminium Company (Dubal). About 10 banks are understood to have been sent the request for proposals (RFP), with a shortlist due to be drawn up imminently and investor presentations to be held in late September. The smelter will have capacity of 700,000 tonnes

  • Smugglers fire at Lebanese army

    A Lebanese army post near the Syrian border was attacked by gunmen overnight, the Lebanese National News Agency reported on 15 September. The shooting took place in the Wadi Khaled area in northern Lebanon, one kilometre from the border.The Lebanese army has strengthened its numbers along the border to prevent arms trafficking. On 15 September, EU foreign affairs ministers are due to discuss a Syrian request for technical support to stop weapons from crossing the border. D

  • Smugglers fire at Lebanese army

    A Lebanese army post near the Syrian border was attacked by gunmen overnight, the Lebanese National News Agency reported on 15 September. The shooting took place in the Wadi Khaled area in northern Lebanon, one kilometre from the border.The Lebanese army has strengthened its numbers along the border to prevent arms trafficking. On 15 September, EU foreign affairs ministers are due to discuss a Syrian request for technical support to stop weapons

  • Sohar champions Brazil

    Brazil's Samarco Mineracao has been awarded the contract to supply iron ore pellets to the local Shadeed Iron & Steel's 1.5 million-tonne-a-year integrated steel complex under construction at Sohar. The plant is due to start operations in the third quarter of 2008 (MEED 7:7:06).

  • SONOCRACKING: Good vibrations

    This time last year, talk of a possible squeeze on the worlds oil supply was rife, particularly in the US a concern that drove up crude prices. But when OPEC came under pressure to step up its production, the oil producing countries argued the problem was not a lack of supply, but inadequate refining capacity, the result of years of underinvestment. More specifically, many US refineries were unable to process some of the heavier crude from the Gulf.Now, a US-based company believes i

  • SONOCRACKING: Good vibrations

    This time last year, talk of a possible squeeze on the world's oil supply was rife, particularly in the US - a concern that drove up crude prices. But when OPEC came under pressure to step up its production, the oil producing countries argued the problem was not a lack of supply, but inadequate refining capacity, the result of years of underinvestment. More specifically, many US refineries were unable to process some of the heavier crude from the Gulf.

  • Sovereign risk to GCC comes under S&Ps microscope

    Geopolitical risk rather than a dependence on oil income is the principal short-term constraint on GCC sovereign ratings, according to Standard & Poors (S&P) in its first GCC credit survey released to MEED at the end of August. The deteriorating political situation in Iraq, tensions between Iran and the US over Tehrans nuclear programme, the crisis in Lebanon, a rise in anti-western sentiment and the risk of extremist terrorist activity 'differentiate GCC states from higher-rated sovereigns', th

  • Speaking out

    August is traditionally a quiet month for government ministries in Doha. The searing summer heat and school holidays are good enough reasons for officials to depart in search of cooler climes abroad. But this year, there was not much time off for the employees at the Foreign Affairs Ministry. With Qatar occupying a temporary seat on the UN Security Council, it fell to the ministry and Doha to articulate and argue the Arab world's position in the Lebanese crisis.

  • Spending increase follows crash

    Cairo has approved an immediate allocation of £E 8,500 million ($1,484 million) to develop and modernise the countrys rail infrastructure, Transport Minister Mohammed Mansour announced on 23 August. Of the total, £E 5,000 million ($872 million) will come from revenue received from the sale of the countrys third mobile telecommunications licence in July, with the remainder to be raised through loans. The funds will be used to purchase new and upgrade existing rolling stock. A crash in Qaylub on 2

  • States final 05/06 budget reveals record surplus

    Kuwait posted a record surplus of KD 6,848 million ($23,613 million) for the financial year ending 31 March, according to the latest quarterly report published in late August by the Central Bank of Kuwait. Revenues hit KD 13,710 million ($47,275 million), primarily on the back of high oil prices, against total expenditure of KD 6,862 million ($23,662 million).As in the last seven years, the year-end figures were in stark contrast to the fiscal 2005/06 budget, which forecasted a deficit o

  • States substation programme moves ahead

    The states transmission and distribution plans moved a step forward in early September with the opening of prices on the Green Zone W substation and an award on the Fintas W substation. The client on both projects is the Ministry of Energy (Electricity & Water).

  • Steel prices set to remain high

    Steel prices are unlikely to fall over the next 12 months despite a raft of new steel production plants under development across the region. With more than $1 trillion of projects under development in the Gulf and major development projects across North Africa sustained demand will lead to higher prices. 'Steel is a demand-led product, rather than supply-led,' Saudi Iron & Steel Company (Hadeed) general manager, Hisham Abdullatif al-Hmili told the MEED Middle East Steel Conference on 17 Septembe

  • Steel prices set to remain high

    Steel prices are unlikely to fall over the next 12 months despite a raft of new steel production plants under development across the region. With more than $1 trillion of projects under development in the Gulf and major development projects across North Africa sustained demand will lead to higher prices. 'Steel is a demand-led product, rather than supply-led,' Saudi Iron & Steel Company (Hadeed) general manager, Hisham Abdullatif al-Hmili told the MEED Middle East Steel Conference on 17 Septe

  • STEG opens negotiations on Ghannouch

    State power company Societe Tunisienne de lElectricite et du Gaz (STEG) will in September begin technical negotiations with the four bidders for the contract to develop a combined cycle plant at Ghannouch with capacity of about 400 MW. Bids for the estimated TD 360 million ($275 million) contract were submitted in late May by: Frances Alstom; Italys Ansaldo; a consortium of Germanys Siemens and Canadas SNC Lavalin; and a team of General Electric of the US with Italys Techint. Work on the 26-mont

  • Stockholm conference seeks aid for Lebanon

    Representatives from about 60 governments and aid organisations met on 31 August in Stockholm to raise $500 million towards the reconstruction of Lebanon. In a report to the conference, the Lebanese government anticipates that early recovery efforts would cost $540 million. Beirut has previously estimated the damage caused by the Israeli offensive at $3,600 million.Lebanese Prime Minister Fouad Siniora told delegates that the country's recovery from civil war had been 'wip

  • Strabag awarded Emiri mansion contract

    Austrias Strabag has been awarded a QR 160 million ($44 million) contract to build a beach mansion for the Emir Sheikh Hamad bin Khalifa al-Thani. The project has a total floor area of 8,000 square metres and is scheduled for completion by March 2007. The main building will be a star-shaped, two-floor reinforced concrete steel construction. US-based Hill International is the project manager.

  • Strabag in for Pearl GTL

    Austrias Strabag has been awarded a construction package by the Royal Dutch/Shell Group on its Pearl gas-to-liquids (GTL) project. The contract covers the construction of an administration building, warehouses, irrigation channels, an heating, ventilation, air-conditioning and refrigeration (HVACR) centre, a central control room, external infrastructure and access roads. The total built-up area is 24,000 square metres. One major engineering, procurement and construction (EPC) contract has still

  • Study completed on Yemen-Saudi link

    Belgiums Tractebel and Italys Cesi have completed the feasibility study into linking the electricity networks of Yemen and southern Saudi Arabia and are due to present their findings to the Arab Fund for Economic & Social Development (AFESD) in November. Project costs are estimated at $300 million-400 million and a tender for the installation is due to be launched early next year.

  • Sudan tells African Union to leave

    Sudan has asked an African Union (AU) peacekeeping force to leave the country once its mandate expires on 30 September. 'This is a final decision,' said, Jamal Ibrahim a foreign affairs ministry spokesman. 'We are asking them to leave since they indicated that they will not be abe to continue their mission.' According to a UN resolution passed on 31 August, the cash-strapped AU mission was due to transfer its responsibilities in the war-torn Darfur region to UN peacekeeper

  • Sudanese protest against UN troops

    Thousands of Sudanese marched on the US embassy in Khartoum on 20 September in protest against calls from the West for Sudan to accept the deployment of 20,000 international peacekeepers in Darfur. The protest came as Sudanese President Al-Bashir was due to address the African Union (AU) Peace & Security Council on Darfur. Al-Bashir has said he would allow AU troops to remain in the war-torn region once their original mandate runs out on 30 September and could accept 'non-

  • Sudanese protest against UN troops

    Thousands of Sudanese marched on the US embassy in Khartoum on 20 September in protest against calls from the West for Sudan to accept the deployment of 20,000 international peacekeepers in Darfur. The protest came as Sudanese President Al-Bashir was due to address the African Union (AU) Peace & Security Council on Darfur. Al-Bashir has said he would allow AU troops to remain in the war-torn region once their original mandate runs out on 30 Septe

  • Suez dredger sinks

    An Egyptian dredger sank in the Suez Canal on 13 September, killing two people. Two more people are missing. The waterway was closed briefly as traffic was directed to a second channel. About 45 sailors were on board the Khattab vessel when it sank near Ismailiya. Suez Canal Authority officials said a technical fault was to blame for the incident. This is the latest in a series of transport accidents in Egypt in recent weeks. In August, 58 people were killed when two train

  • Suez dredger sinks

    An Egyptian dredger sank in the Suez Canal on 13 September, killing two people. Two more people are missing. The waterway was closed briefly as traffic was directed to a second channel. About 45 sailors were on board the Khattab vessel when it sank near Ismailiya. Suez Canal Authority officials said a technical fault was to blame for the incident. This is the latest in a series of transport accidents in Egypt in recent weeks. In August, 58 people

  • Suez Steel privatisation attracts five

    Five companies have submitted bids to acquire an 82.1 per cent stake in Suez Steel Company held by state-owned Banque du Caire. They are the local Misr National Steel, Indias Essar Group and Amwal al-Khaleej, Al-Rajhi Steel Industries and Al-Tuwairqi Group (ATG), all Saudi Arabian. Offers are due to be opened on 12 September. The local HC Securities & Investment is the financial consultant (MEED 30:6:06).www.meed.com/industry

  • Sugar refinery planned

    The local Hayel Saeed Anam Group is planning to build a sugar refinery in Aden Free Zone at an estimated cost of $100 million. The group will form a joint venture with other regional investors to develop the plant, which will have capacity of 1 million tonnes a year. Yemen imports its sugar requirements, mainly from Sudan.

  • Sugar refinery planned

    The local Hayel Saeed Anam Group is planning to build a sugar refinery in Aden Free Zone at an estimated cost of $100 million. The group will form a joint venture with other regional investors to develop the plant, which will have capacity of 1 million tonnes a year. Yemen imports its sugar requirements, mainly from Sudan.

  • Suicide bomber targets army recruits

    A suicide bomb attack targeting Iraqi army recruits on their minibus on 11 September left at least 13 people dead and one wounded. The bomber is reported to have boarded the bus at the Muthanna recruitment centre which has been targeted by insurgents in the past.A day earlier four people were killed in two car bomb explosions in Baghdad. The first blast occurred near a busy shopping area, killing at least three people and wounding 15. It was followed by an explosion near a

  • Suicide bomber targets army recruits

    A suicide bomb attack targeting Iraqi army recruits on their minibus on 11 September left at least 13 people dead and one wounded. The bomber is reported to have boarded the bus at the Muthanna recruitment centre which has been targeted by insurgents in the past.A day earlier four people were killed in two car bomb explosions in Baghdad. The first blast occurred near a busy shopping area, killing at least three people and wounding 15. It was foll

  • Sukuk market blossoms

    Activity is accelerating in the regional sukuk market, with a string of issues launched or close to completion. The flood of paper came as London-based law firm Trowers & Hamlins published a report showing that sukuks have made up 81 per cent of new GCC bond issuance so far in 2006, compared to 26 per cent last year.

  • Sukuk market blossoms

    Activity is accelerating in the regional sukuk market, with a string of issues launched or close to completion. The flood of paper came as London-based law firm Trowers & Hamlins published a report showing that sukuks have made up 81 per cent of new GCC bond issuance so far in 2006, compared to 26 per cent last year.

  • SUKUKS: Bonding session

    The strength of the global appetite for sharia-compliant bonds was once again confirmed when subscription to National Central Cooling Company's (Tabreed's) second sukuk closed in mid-July. Interest from investors from the region, Europe and the Far East pushed oversubscription to $80 million for the $200 million sukuk.

  • SUKUKS: Bonding session

    The strength of the global appetite for sharia-compliant bonds was once again confirmed when subscription to National Central Cooling Companys (Tabreeds) second sukuk closed in mid-July. Interest from investors from the region, Europe and the Far East pushed oversubscription to $80 million for the $200 million sukuk.

  • Sunni tribal leaders meet Maliki

    Sunni tribal leaders from Iraq's Anbar province met Shia Prime Minister Nouri al-Maliki on 27 September to offer their co-operation in the fight against Al-Qaeda militants. The Sunni leaders had pledged to fight Al-Qaeda two weeks earlier in Ramadi. Also on 27 September, British and Iraqi troops began a major operation to purge the police in the city of Basra of Shia militias. Operation Sinbad, which is expected to last until February 2007, will see about 1,000 British and

  • SURVEYING: Seismic shifts

    Risk and reward are equally balanced in the oil and gas industry - and no-one knows it better than seismic surveyors. 'We can only give indicators and deliver the best information,' says Robert Hobbs, president of UK-based Veritas. 'Feast or famine lie with oil companies. We are simply contractors and our job does not go beyond that.'

  • Suspected Islamists rounded up

    Egyptian security forces have arrested more than 90 people in the north of Egypt, their lawyer Mamdouh Ismail told AFP news agency. Seventy people were detained in Alexandria, while another group was arrested in Damanhour. The detainees were held on suspicion of being affiliated with radical Islamist groups. 'They were arrested because they consulted Islamist websites linked to militant groups,' Ismail said. However, he denied that the detainees were connected any radical facti

  • Syndication closes for Alliance Housing

    Syndication has closed on the $60 million, three-year loan facility for Alliance Housing Bank. The two mandated lead arrangers (MLAs) - Arab Banking Corporation and BayernLB - were joined by HSH Nordbank, National Bank of Fujairah and Raiffeisen Zentralbank as arranger and Caixa Geral de Depositos, First Commercial Bank, and Landesbank Saar as lead managers. The facility has a margin of 40 basis points over libor and will be used for refinancing and general corporate purposes (MEED 23:6:06).

  • Syria pledges to back 1701

    UN Secretary-General Kofi Annan on 1 September received a pledge from Syrian President Asad to back UN resolution 1701 relating to the ceasefire between Israel and Lebanon. 'It was a very good meeting,' Ahmad Fawzi, Annan's spokesperson said. 'The president and Annan discussed the implementation of 1701 and the president told Annan that Syria supports and will help its implementation.'Annan was expected to urge Asad to end Syrian support for Hezbollah and to prevent arms t

  • Tabreed finds financial Oasis with GIB

    Oasis International Leasing and National Central Cooling Company (Tabreed), both local, and Gulf International Bank (GIB) have signed an AED 55 million ($15 million) Islamic ijara facility to finance the purchase of six portable cooling plants. The financing package is the second between Oasis and Tabreed. In 2005 Oasis, Tabreed and Abu Dhabi Investment Company secured financing for two district cooling plants (MEED 4:8:06).

  • Tabreed launches Jordan District Energy

    UAE-based Tabreed Holding and the local Abdali Investment & Development announced on 21 August the formation of a joint venture to provide district cooling services. Amman-based Jordan District Energy will invest JD 80 million ($113 million) to develop district cooling and heating systems for the Al-Abdali regeneration project. 'This partnership ensures Tabreed will have access to the multi-million dollar Levant property market and one of Jordan's most prestigious real estate developments,' said

  • TABREED: Leading the way

    National Central Cooling Companys (Tabreeds) $200 million sukuk for which subscription closed in July is unique on several counts. The sharia-compliant bond, which will help finance the Abu Dhabi-based utility companys expansion plans, is the first UAE corporate bond issue to be rated by an international rating agency. Standard & Poors (S&P) has assigned the bond a senior secured debt rating of BBB- in line with the companys credit rating. Tabreed is one of the largest district cooling compani

  • TABREED: Leading the way

    National Central Cooling Company's (Tabreed's) $200 million sukuk - for which subscription closed in July - is unique on several counts. The sharia-compliant bond, which will help finance the Abu Dhabi-based utility company's expansion plans, is the first UAE corporate bond issue to be rated by an international rating agency. Standard & Poor's (S&P) has assigned the bond a senior secured debt rating of BBB- in line with the company's credit rating. Tabreed is one of the largest district cooli

  • Talks are on the right track, says Ahmadinejad

    Iranian President Ahmadinejad on 21 September said nuclear talks with the EU were proceeding well, suggesting Tehran could consider suspending uranium enrichment under the right conditions. 'We have said that under fair conditions and just conditions we will negotiate about it,' Ahmadinejad said at a UN news conference in New York. 'We believe those negotiations are moving on the right path Hopefully others will not disrupt the work.' It is thought Ahmadinejad was referring to US pressu

  • Talks are on the right track, says Ahmadinejad

    Iranian President Ahmadinejad on 21 September said nuclear talks with the EU were proceeding well, suggesting Tehran could consider suspending uranium enrichment under the right conditions. 'We have said that under fair conditions and just conditions we will negotiate about it,' Ahmadinejad said at a UN news conference in New York. 'We believe those negotiations are moving on the right path Hopefully others will not disrupt the work.' It is thought Ahmadinejad was referring to

  • Tamlik expands capital to boost portfolio

    Local property developer Tamlik plans to hike its capital in a bid to enhance its real estate portfolio across the kingdom. The Jeddah-based firm, which recently increased its capital to SR 180 million ($48 million) from SR 120 million ($40 million), is planning to raise its capital further to SR 500 million ($133 million).

  • Tamouh awards two more construction packages

    Local real estate developer Tamouh Investments has awarded two construction contracts on its AED 5,000 million ($1,360 million) Marina Square development on Reem island. A local/Chinese joint venture led by National Projects & Construction (NPC) has won the contract for zone A, and a consortium of four Malaysian companies has won the estimated AED 2,000 million ($545 million) contract for zone C.

  • Tanmiyat plans towers

    Saudi-based real estate developer Tanmiyat Investment Group is planning four tower developments in Dubai International Finance Centre (DIFC) and Business Bay. At DIFC, a 65-storey, mixed-use twin tower development is planned. US-based Gensler is the consultant. Three 35-37 storey residential towers, known collectively as Commercial Heights, are planned for Business Bay. The local Dewan Architects & Engineers is the consultant for the Forum. The local Al-Bayati Architect is the consultant for the

  • Target homes in on Executive Heights

    The local Target Engineering Contracting Company has been awarded the AED 170 million ($46 million) main contract on the Executive Heights development, being promoted by the local Damac Properties in Dubais International Media Production Zone. The project, due to be completed in 2009, will involve the construction of a 25-storey office tower.

  • Target on board for Adgas filtration

    The local Target Engineering Construction Company has been appointed by the US/Canadian VECO as the construction subcontractor on the project to upgrade the acid gas recovery (AGR) units covering the filtration systems of the three liquefied natural gas (LNG) trains on Das island. The subcontract, worth $4 million, is due to take 16 months. VECO was awarded in August the main contract by Abu Dhabi Gas Liquefaction Company (Adgas MEED 1:9:06).

  • TECHNOLOGY: Gas matters

    Air separation:Many major energy and petrochemicals projects rely on Air Products air separation units (ASUs). The company has sold 19 ASUs worldwide, ranging from packaged nitrogen generators to world-scale oxygen plants.LNG business:The company is involved throughout the LNG value chain. In shipping, it provides dry inert gas generators for liquefied natural gas (LNG) carriers and shipboard membrane nitrogen systems. Offshore, it provides membrane nitrogen and natural gas dehyd

  • TECHNOLOGY: Gas matters

    Air separation:Many major energy and petrochemicals projects rely on Air Products' air separation units (ASUs). The company has sold 19 ASUs worldwide, ranging from packaged nitrogen generators to world-scale oxygen plants.

  • Ten die in Egypt bus crashes

    A bus crashed in the town of Zaafarana, 256 kilometres southeast of Cairo on 6 September, killing nine Egyptians and injuring more than 40. The bus was carrying pilgrims from Cairo to the port of Safaga, where they were due to board a ferry to Saudi Arabia.In a separate accident, one British tourist died after her bus, which was travelling from Suez to Cairo, overturned. The incidents are the latest in a series of Egyptian transport accidents. In August, 11

  • Ten die in Egypt bus crashes

  • Tender out for Al-Jalamid mine operation

    Saudi Arabian Mining Company (Maaden) has tendered the five-year contract to operate the Al-Jalamid phosphate mine, inviting 11 local and international companies to submit bids by 7 October.

  • Tender out for Al-Jalamid mine operation

    Saudi Arabian Mining Company (Maaden) has tendered the five-year contract to operate the Al-Jalamid phosphate mine, inviting 11 local and international companies to submit bids by 7 October.

  • Tenders out for Landmark

    The Department of Presidents Affairs has invited companies to bid by 5 November for the main construction package on the Landmark tower project in Abu Dhabi. The mixed-use tower is set to be the tallest on Abu Dhabi island with a height of 329 metres (MEED 31:3:06).The prequalifiers include: the local Al-Habtoor Engineering Enterprises, with South Africas Murray & Roberts Contractors (Middle East); the local/Australian Nasa Multiplex; the local/Lebanese Arabian Construction Company (ACC)

  • Thai resort planned for The World

    Local real estate developer Profile has purchased the island of Thailand on The World development off the coast of Dubai for AED 74 million ($20 million). The developer plans to build a AED 400 million ($110 million) residential resort on the island.

  • Thai resort planned for The World

    Local real estate developer Profile has purchased the island of Thailand on The World development off the coast of Dubai for AED 74 million ($20 million). The developer plans to build a AED 400 million ($110 million) residential resort on the island.

  • The Blue City prepares to rise

    Subscription to the $900 million bond to part finance phase 1 of The Blue City (Al-Madinat al-Zarqa) project is due to close by end of September after the deadline was extended from July. 'It looks positive,' says Ahmed Janahi, chairman and chief executive officer of Bahrains AAJ Holdings, the project developer and investor. 'Weve had a good roadshow [with prospective investors].' The first release of properties is due to start by year-end according to Janahi, and is expected to attract local, r

  • The ghosts of '56 haunting Downing Street

    The events in Egypt in the summer and autumn of 1956 are modest compared with the Arab-Israel wars of 1967 and 1973, the Iran-Iraq conflict, three decades of division in Lebanon and turmoil in Iraq. But at the time, the Suez crisis was a global event. It divided allies, caused the first oil shock, inspired Arab nationalism and led to the replacement of Britain and France as the regions dominant foreign powers. Suez also ended the career of UK Prime Minister Anthony Eden.There

  • The new front

    As international peacekeepers arrive in the country to stabilise the ceasefire between Tel Aviv and Hezbollah, Beirut is steeling itself for a new battle over the reconstruction of the south.

  • THE RECONSTRUCTION OF LEBANON: Damage assessment

    No-one was more surprised by the outbreak of hostilities in Lebanon than Ivana Trump, ex-wife of US billionaire real estate developer Donald Trump and now the face of her own luxury condominium brand.

  • The UN still matters, but regional co-operation is better

    The contest has started about who will succeed Kofi Annan to become the UNs eighth secretary-general. The favourite is South Korean Foreign Affairs Minister Ban Ki-Moon. The sole Middle East nominee is Prince Zeid al-Hussain, Jordans UN ambassador and King Abdullahs cousin.

  • The UN still matters, but regional co-operation is better

    The contest has started about who will succeed Kofi Annan to become the UN's eighth secretary-general. The favourite is South Korean Foreign Affairs Minister Ban Ki-Moon. The sole Middle East nominee is Prince Zeid al-Hussain, Jordan's UN ambassador and King Abdullah's cousin.

  • Three bid for Sinopec rehabilitation

    Three companies submitted technical bids in early September for the estimated $150 million contract to install water injection facilities on the Zarzaitine oil field in the Illizi basin.

  • Three bid for Sinopec rehabilitation

    Three companies submitted technical bids in early September for the estimated $150 million contract to install water injection facilities on the Zarzaitine oil field in the Illizi basin.

  • Three goes into Four

    Germanys Allianz Capital Partners announced on 1 September the sale of its UK-based affiliate Four Seasons Health Care to Delta Commercial Property, an investment vehicle of Qatars Three Delta, in a deal worth £1,400 million ($2,636 million). Three Delta, an investment fund of Qatar Investment Authority, bought Four Seasons for about 14 times the healthcare providers 2006 earnings.

  • Three in for Duqm study

    Evaluation of bids is under way at the Oil & Gas Ministry for the feasibility study contract covering the proposed Duqm refinery and petrochemicals complex (DRPC). Three international companies submitted bids on 1 September for the contract, expected to be awarded soon (MEED 18:8:06).The bidders for the nine-month study are Fluor Corporation and Jacobs Consultancy, both of the US, and Australias WorleyParsons. The study will assess the optimum product slate and configuration for the gras

  • Three submit prices for Hasdrubal field scheme

    Three companies submitted commercial proposals in early September for the onshore package on the estimated $700 million scheme to develop the Hasdrubal gas and condensate field on the Amilkar permit in the Gulf of Gabes. The package consists of detailed design and engineering, procurement installation and commissioning (EPIC) of the onshore gas processing plant, receiving terminals and related facilities. An award is expected by the end of the year.

  • Tornado refit deal nears

    Contract signing is expected soon between Riyadh and the UKs BAE Systems on the multi-billion-dollar upgrade of the Royal Saudi Air Force (RSAF) Tornado fighter fleet. The deal involves the upgrading of the RSAFs interdictor-strike (IDS) Tornadoes from GR1 to GR4 standard. BAE supplied the fighters under the Al-Yamamah defence deal originally signed in 1985. The refit, to be carried out by BAE in the UK, will enable the aircraft to continue flying for a further 10 years. Under a memorandum of un

  • Travelodge checks into Dubai

    Dubai International Capital (DIC), the private equity arm of Dubai Holding, has acquired UK-based Travelodge Hotels. The budget hotel chain was purchased from Europe-based private equity house Permira Funds for£675 million ($1,278 million). The chain operates 291 hotels mainly in the UK and plans to open 40 more hotels in the UK by the end of 2006. The chain expects to increase its number of rooms by 32,000 in five years. Citigroup Global Markets was financial adviser on the transaction. The dea

  • Tripoli makes oil change

    Uncertainty once again surrounds the management of the countrys energy sector, following the announcement by Tripoli in early September that it had established a new committee to oversee the oil and gas sector. The Council for Oil and Gas Affairs will be chaired by Prime Minister Baghdadi Ali al-Mahmoudi and will have responsibility for managing the countrys oil resources, including reviewing and assessing all oil projects.

  • Tripoli unveils $7bn upstream programme

    National Oil Corporation (NOC) has unveiled an ambitious $4,000 million upstream programme aimed at doubling the country's oil production by 2020 and boosting proven reserves by 50 per cent. Under the 10-year plan, which was revealed by NOC managers in late August, Tripoli will offer international oil companies (IOCs) more than 110 30-year exploration and production sharing (EPSA) agreements in return for investment of more than $7,000 million in upstream activity over the next decade.

  • Tripoli unveils $7bn upstream programme

    National Oil Corporation (NOC) has unveiled an ambitious $4,000 million upstream programme aimed at doubling the countrys oil production by 2020 and boosting proven reserves by 50 per cent. Under the 10-year plan, which was revealed by NOC managers in late August, Tripoli will offer international oil companies (IOCs) more than 110 30-year exploration and production sharing (EPSA) agreements in return for investment of more than $7,000 million in upstream activity over the next decade.

  • Tunis drops Enfidha advisers

    The government has dropped its advisory team led by Rothschild on the build-transfer-operate (BTO) contract for a new airport at Enfidha. The decision was made after the two sides failed to agree an adjustment in the advisers' fees. Tunis will not seek new advisers and is planning to finalise an award by year-end. Six prequalified firms are vying for the contract.

  • Tunis drops Enfidha advisers

    The government has dropped its advisory team led by Rothschild on the build-transfer-operate (BTO) contract for a new airport at Enfidha. The decision was made after the two sides failed to agree an adjustment in the advisers fees. Tunis will not seek new advisers and is planning to finalise an award by year-end. Six prequalified firms are vying for the contract.

  • Tunis revives Enfidha

    Tunis has invited six international companies to bid for the estimated $450 million contract to build and operate a new airport at Enfidha in the northeast. Commercial bids are due by 30 November. The project was relaunched in June following the resolution of a number of issues that have delayed the scheme for two years (MEED 30:6:06).

  • TUNISIA

    Tender/contract no 621-029. Project no P064082. Supply, installation and putting into operation of a centralised traffic control system on lines 5 of the Sfax to Gabes section and line 13 of the Graiba to Metlaoui section as part of a transport sector project. Financed by the World Bank. Bid bond is TD 60,000.

  • TUNISIA

    Expressions of interest. Contract no 86/2006. Project no P064836. Provision of consultancy services as part of an urban water supply project.

  • Turks in line for Mataki

    Turkeys GAP Insaat is in final negotiations with Pakistans Hashoo Group for the contract to design and build its planned mixed-use towers development in the Mataki district of Tripoli. Contract signing is expected by the end of September. Construction will take about three years.

  • Tusdeer: Capitalising on growth

    Muhammed al-Zuabi is a busy man. The sales and marketing director of Saudi Trade & Export Development Company (Tusdeer) receives three phone calls in 10 minutes. Business is booming at the country's first bonded and re-export zone (BRZ), for which Tusdeer was granted a 40-year build-operate-transfer (BOT) agreement in 1991. 'Where are the goods going?' he asks an Indian businessman on the phone. 'We will do our best, don't worry, it's our pleasure to help.'

  • Two groups bid for Grand Egyptian Museum PMC

    Two consortiums submitted bids in late August for the contract to provide project management consultancy (PMC) services on the $600 million-650 million Grand Egyptian Museum project. They are: Pacific Consultants International (PCI) and Yamashita Architects, both of Japan; and the US Hill International, with the local EHAF and Japans Nikkon Sekkei. About 16 companies were originally shortlisted for the PMC contract. The tender was issued in June after the Japan Bank for International Co-operatio

  • UAE

    Tender no CE/395/2006. Supply, installation, testing and commissioning of fibe optic cable and carrying out associated civil works along the Jind, Jebel Ali Habab pumping station, phases 1, 2 and 3. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/232/2006. Supply, installation and commissioning of a spray paint booth with accessories. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CNE/074/2006. Supply, installation and construction of civil, electromechanical, interior decoration and associated works at the Dubai Electricity & Water Authority head office in Dubai. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/153/2006. Supply and retrofitting of a breaker fail protection system at various 132-kV and 400-kV substations. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/354/2006. Supply of medium-voltage HRC fuse links. Bid bond is 5 per cent of tender price.

  • UAE

    Tender no CE/310/2006. Supply of washable inlet prefilters for G station gas turbines at Jebel Ali. Bid bond is 5 per cent of tender price.

  • UAE

    CE/086/2006. Modification and upgrading of fault recorders. Bid bond is 5 per cent of tender price.

  • UAE CENSUS: Population explosion

    Economic success comes at a price. In the case of the UAE, that price is a growing demographic imbalance. The Labour Ministry last year warned that, with population growth rates ranging from 10-15 per cent a year, nationals would comprise just 4 per cent of the population by 2015. Outspoken Labour Minister Ali al-Kaabi is fighting a rearguard action. 'I want UAE nationals to be the biggest segment in the country,' he told a labour market committee meeting in April. To achieve this, the ministry

  • UAE faces camel racing lawsuit

    A lawsuit accusing Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum, of enslaving children and forcing them to become camel jockeys was filed in the US on 14 September, according to media reports. Sheikh Mohammed's brother Sheikh Hamdan and 500 unspecified people have also been accused of kidnapping and trafficking in children from Bangladesh, Sudan and Southern Asia. The lawsuit was filed in Miami on behalf of six unnamed parents. Both Sheikh Mohammed and his brother own property in

  • UAE faces camel racing lawsuit

    A lawsuit accusing Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum, of enslaving children and forcing them to become camel jockeys was filed in the US on 14 September, according to media reports. Sheikh Mohammed's brother Sheikh Hamdan and 500 unspecified people have also been accused of kidnapping and trafficking in children from Bangladesh, Sudan and Southern Asia. The lawsuit was filed in Miami on behalf of six unnamed parents. Both Sheikh Mohammed and his brother own pr

  • UAE ISLAMIC FINANCE: Picking up the pace of conversion

    'I never dreamt 20 years ago that the Islamic financial system would reach the stage it is at today,' says sharia scholar Hussain Hamid Hassan, a familiar face on sharia advisory boards across the Gulf. 'People were asking how to combine Islam with banking. It was like [combining] Islam and whisky. It was very risky.'

  • UAE ISLAMIC FINANCE: Picking up the pace of conversion

    'I never dreamt 20 years ago that the Islamic financial system would reach the stage it is at today,' says sharia scholar Hussain Hamid Hassan, a familiar face on sharia advisory boards across the Gulf. 'People were asking how to combine Islam with banking. It was like [combining] Islam and whisky. It was very risky.'

  • UAE MORTGAGES: Property prizes

    Working in Dubai real estate means living life in the fast lane. Foreign property ownership was announced in 2001. A law allowing purchases by non-nationals was published in March. Areas where freehold sales are permitted were defined in July. Dubai's Land Department should start issuing property ownership certificates in September.

  • UDC signs corporate loan

    The local United Development Company (UDC) in early September signed a corporate loan deal, worth $225 million, with seven local and international banks. The participating banks are Mashreqbank, Standard Chartered Bank, National Bank of Dubai, Commercialbank, National Bank of Oman, National Bank of Abu Dhabi and BNP Paribas.

  • UGB, NBD move up a tier

    United Gulf Bank (UGB) and National Bank of Dubai (NBD) have both appointed arrangers for planned subordinated debt issues, while Emirates Bank is close to a selection.

  • Uhde, CB&I win Qafco 5 contracts

    Qatar Fertiliser Company (Qafco) has awarded Germanys Uhde and the US Chicago Bridge & Iron (CB&I) the two main packages on its estimated $650 million Qafco 5 project. Uhde, the original contractor on both the Qafco 3 and Qafco 4 expansions, will carry out the process plant while CB&I will be in charge of the offsites and utilities (MEED 2:6:06).Qafco has adopted a new contracting strategy for the Qafco 5 scheme, on account of the tight engineering, procurement and construction market an

  • UK hands over control of Iraqi province

    British and Italian forces handed control over security in Thi Qar province to Iraqi forces on 21 September. Speaking at the handover ceremony in Nasiriyah, Iraqi Prime Minister Nouri al-Maliki said it was a 'great day'. Thi Qar is the second province to be handed over, following Muthanna. 'Muthanna was first, now comes Thi Qar to crown this victory, and other provinces will come to crown further victories until we reach our goal,' Al-Maliki said. About 1,800 Italian troop

  • UK hands over control of Iraqi province

    British and Italian forces handed control over security in Thi Qar province to Iraqi forces on 21 September. Speaking at the handover ceremony in Nasiriyah, Iraqi Prime Minister Nouri al-Maliki said it was a 'great day'. Thi Qar is the second province to be handed over, following Muthanna. 'Muthanna was first, now comes Thi Qar to crown this victory, and other provinces will come to crown further victories until we reach our goal,' Al-Maliki said.

  • UK kills Iraqi Al-Qaeda militant

    British troops on 25 September killed a senior Al-Qaeda member in a raid on a house in Basra. The man was later named as Omar Farouq, a fugitive who escaped from a US prison in Afghanistan in 2005. In 2002, Farouq was captured in Indonesia where he is believed to have been planning attacks on American embassies in South-East Asia.

  • UN votes to create Darfur force

    The UN Security Council on 31 August voted in favour of creating a peacekeeping force in the war-torn region of Darfur. Of the 15 council members, 12 voted for the resolution drafted by the US and UK. Russia, China and Qatar abstained. The resolution provides for the deployment of a 22,500-strong UN force. In the interim, the UN would support the ailing African Union force. US State Department Spokesperson Sean McCormack had urged the UN to adopt the resolution quickly. 'T

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

  • UN wants answers on Israeli cluster bombs

    The UN on 19 September called on Israel to specify where it had fired cluster bombs during its 34-day war against Lebanon. Israel dropped at least 350,000 cluster bomblets on southern Lebanon. 'The outrageous fact is that nearly all of these munitions were fired in the last three-to-four days of the war,' said David Shearer, UN humanitarian co-ordinator in Lebanon. 'Outrageous, because by that stage the conflict had been largely resolved in the form of resolution 1701.'Isr

  • UN wants answers on Israeli cluster bombs

    The UN on 19 September called on Israel to specify where it had fired cluster bombs during its 34-day war against Lebanon. Israel dropped at least 350,000 cluster bomblets on southern Lebanon. 'The outrageous fact is that nearly all of these munitions were fired in the last three-to-four days of the war,' said David Shearer, UN humanitarian co-ordinator in Lebanon. 'Outrageous, because by that stage the conflict had been largely resolved in the form of resolution 1701.'

  • UN warns of civil war in Iraq

    UN Secretary-General Kofi Annan on 19 September warned that Iraq could slide into civil war and called on Iraqi leaders and the international community to act to prevent such a turn of events. 'If current patterns of alienation and violence persist much longer, there is a grave danger that the Iraqi state will break down, possibly in the midst of a full-scale civil war.' A day earlier, violence in Iraq continued. At least 13 people were killed by a suicide bomber in Ramadi

  • UN warns of civil war in Iraq

    UN Secretary-General Kofi Annan on 19 September warned that Iraq could slide into civil war and called on Iraqi leaders and the international community to act to prevent such a turn of events. 'If current patterns of alienation and violence persist much longer, there is a grave danger that the Iraqi state will break down, possibly in the midst of a full-scale civil war.' A day earlier, violence in Iraq continued. At least 13 people were killed by

  • UN warns of civil war in Iraq

  • UN warns of civil war in Iraq

  • UN warns of civil war in Iraq

  • UN warns of civil war in Iraq

  • UN warns Palestinian economy is on verge of collapse

    The UN Conference on Trade and Development (UNCTAD) on 12 September warned that the Palestinian economy is rapidly declining. 'The economy of the occupied Palestinian territories is on the verge of collapse,' an UNCTAD report said. The organisation anticipated that per capita income in the territories would fall to half of its levels before fighting between Israelis and Palestinians broke out in late 2000. 'Projections indicate economic decline to levels not seen for a generation,' it sa

  • UN warns Palestinian economy is on verge of collapse

    The UN Conference on Trade and Development (UNCTAD) on 12 September warned that the Palestinian economy is rapidly declining. 'The economy of the occupied Palestinian territories is on the verge of collapse,' an UNCTAD report said. The organisation anticipated that per capita income in the territories would fall to half of its levels before fighting between Israelis and Palestinians broke out in late 2000. 'Projections indicate economic decline to levels not seen for a generati

  • Unity government talks reach impasse

    Palestinian Authority president Mahmoud Abbas on 25 September cancelled talks with Hamas over the formation of a national unity government. Abbas was due to travel to Gaza to meet senior Hamas officials, including Prime Minister Ismail Haniya, on 26 September. A senior presidential aide told Reuters that Abbas would not be meeting Haniya. 'Of course he is not going to Gaza,' he said. 'There is a problem with Hamas They keep reneging on the agreements.'Talks disintegrated

  • UNRWA chief calls for Gaza observer mission

    The head of the UN Relief and Works Agency (UNRWA) on 8 September called for a UN observer mission to be sent to Gaza. Karen Abuzayd warned that living conditions of Palestinians in the territory had reached breaking point. 'The strangulation of commerce and trade has ruined the economy, it has brought the institutions of government to a point of near-meltdown and badly shaken the society,' Abuzayd said. 'These pressures and tactics have not resulted in a desire for compromise on the par

  • UNRWA chief calls for Gaza observer mission

    The head of the UN Relief and Works Agency (UNRWA) on 8 September called for a UN observer mission to be sent to Gaza. Karen Abuzayd warned that living conditions of Palestinians in the territory had reached breaking point. 'The strangulation of commerce and trade has ruined the economy, it has brought the institutions of government to a point of near-meltdown and badly shaken the society,' Abuzayd said. 'These pressures and tactics have not resulted in a desire for compromise

  • US attorney-general in Baghdad talks

    US Attorney General Alberto Gonzales on 29 August held talks with Iraq's Deputy Prime Minister Barham Saleh. They discussed legal and security issues, including the treatment of prisoners and suspected terrorists. 'It is difficult to decide what is appropriate,' Gonzales said. 'This decision will be made by the Iraqi government.' Gonzales also met officials at the Iraqi High Tribunal, which is trying former president Saddam Hussein on charges of genocide, crimes against humanity and war

  • US embassy attack fails

    A bomb attack on the US embassy in Damascus was thwarted by Syrian security officials on 12 September. Three of the assailants were killed and a fourth captured as the men attempted to drive two cars into the embassy complex. A Syrian security officer was also killed. 'One attacker was captured, injured, and the investigation may reveal where they came from or their backgrounds,' Interior Minister General Bassam Abdel Majid said.Tensions between Syria and the US mounted af

  • US embassy attack fails

    A bomb attack on the US embassy in Damascus was thwarted by Syrian security officials on 12 September. Three of the assailants were killed and a fourth captured as the men attempted to drive two cars into the embassy complex. A Syrian security officer was also killed. 'One attacker was captured, injured, and the investigation may reveal where they came from or their backgrounds,' Interior Minister General Bassam Abdel Majid said.Tensions between

  • US favours resolution on sanctions

    The US wants the UN Security Council to put forward a resolution on sanctions against Iran following its failure to comply with a deadline to end uranium enrichment, US Undersecretary of State Nicholas Burns said on 8 September. He was speaking a day after political leaders from the five permanent members of the Security Council, plus Germany met in Berlin to discuss the way forward on the nuclear standoff. They are due to hold more talks on 11 September. 'The American view is that follo

  • US favours resolution on sanctions

    The US wants the UN Security Council to put forward a resolution on sanctions against Iran following its failure to comply with a deadline to end uranium enrichment, US Undersecretary of State Nicholas Burns said on 8 September. He was speaking a day after political leaders from the five permanent members of the Security Council, plus Germany met in Berlin to discuss the way forward on the nuclear standoff. They are due to hold more talks on 11 September. 'The American view is

  • US grateful for Syrian action on embassy attack

    The US on 13 September thanked Syria for foiling an attack on the American embassy in Damascus a day earlier. 'I do think that the Syrians reacted to this attack in a way that helped to secure our people and we very much appreciate that,' US Secretary of State Condoleezza Rice said. The US is 'grateful for the assistance the Syrians provided in going after the attackers,' White House spokesperson Tony Snow said. 'We are hoping they will become an ally and make the choice of fighting terr

  • US grateful for Syrian action on embassy attack

    The US on 13 September thanked Syria for foiling an attack on the American embassy in Damascus a day earlier. 'I do think that the Syrians reacted to this attack in a way that helped to secure our people and we very much appreciate that,' US Secretary of State Condoleezza Rice said. The US is 'grateful for the assistance the Syrians provided in going after the attackers,' White House spokesperson Tony Snow said. 'We are hoping they will become an ally and make the choice of fig

  • US insistent on Iran sanctions

    The US said on 11 September it would continue to pursue sanctions against Iran over the Islamic republic's nuclear programme despite signs that it may be willing to compromise in talks with the EU. EU foreign policy chief Javier Solana and Iranian nuclear negotiator Ali Larijani announced they had made progress in talks aimed at launching negotiations to end the nuclear standoff. 'It is encouraging that progress was made in these discussions,' US envoy to the International

  • US insistent on Iran sanctions

    The US said on 11 September it would continue to pursue sanctions against Iran over the Islamic republic's nuclear programme despite signs that it may be willing to compromise in talks with the EU. EU foreign policy chief Javier Solana and Iranian nuclear negotiator Ali Larijani announced they had made progress in talks aimed at launching negotiations to end the nuclear standoff. 'It is encouraging that progress was made in these discussions,' US

  • US seeks UN force for Darfur

    US assistant secretary of state Jendayi Frazer met with President Al-Bashir on 29 August to urge him to accept the mobilisation of UN peacekeepers in Darfur. Frazer was due to leave Sudan earlier in the week but extended her stay to meet the president after he initially refused to see her.Frazer presented Al-Bashir with a letter from President Bush, the contents of which have not been made public. Washington is pushing for a Security Council resolution to authorise a UN fo

  • US seeks UN force for Darfur

    US assistant secretary of state Jendayi Frazer met with President Al-Bashir on 29 August to urge him to accept the mobilisation of UN peacekeepers in Darfur. Frazer was due to leave Sudan earlier in the week but extended her stay to meet the president after he initially refused to see her.Frazer presented Al-Bashir with a letter from President Bush, the contents of which have not been made public. Washington is pushing for a Security Council reso

  • US transfers control of Iraqi forces

    The US-led coalition formally transferred control of Iraqi forces to the Iraqi government on 7 September. Prime Minister Nouri al-Maliki signed the agreement with the US military at a ceremony at the Defence Ministry in Baghdad. The handover was scheduled to take place five days earlier, but was postponed while the two sides tried to overcome differences over the documents involved. Observers say it is unclear how quickly the complete handover can happen. 'Today is another

  • US transfers control of Iraqi forces

    The US-led coalition formally transferred control of Iraqi forces to the Iraqi government on 7 September. Prime Minister Nouri al-Maliki signed the agreement with the US military at a ceremony at the Defence Ministry in Baghdad. The handover was scheduled to take place five days earlier, but was postponed while the two sides tried to overcome differences over the documents involved. Observers say it is unclear how quickly the complete handover ca

  • US troops kill eight in Baquba

    American forces killed eight people in air strikes which destroyed a building in the town of Baquba on 27 September. The US launched the raid as a gunbattle broke out on the ground. The military called the deaths 'unfortunate' and could not confirm how many of those killed were militants. US soldiers were shot at as they searched for al-Qaeda suspects.'Coalition forces strive to mitigate risks to civilians while in pursuit of terrorists,' a US military statement said. 'Ter

  • US, Iran exchange harsh words

    US President Bush and his Iranian counterpart President Ahmadinejad have clashed at the UN General Assembly in New York over Tehran's nuclear ambitions. Ahmadinejad on 19 September accused the US and UK of using the UN Security Council to promote their own interests. He went on to stress the civilian nature of Iran's nuclear programme and highlighted Western use of nuclear technology for military purposes. 'Some [countries] have abused nuclear technology for non-peaceful ends, including

  • US, Iran exchange harsh words

    US President Bush and his Iranian counterpart President Ahmadinejad have clashed at the UN General Assembly in New York over Tehran's nuclear ambitions. Ahmadinejad on 19 September accused the US and UK of using the UN Security Council to promote their own interests. He went on to stress the civilian nature of Iran's nuclear programme and highlighted Western use of nuclear technology for military purposes. 'Some [countries] have abused nuclear technology for non-peaceful ends,

  • Vodafone keen to connect with Raya

    Vodafone Egypt has bid£E 104 million ($18 million) to acquire a 51 per cent stake in local technology and IT supplier Raya Holding. Negotiations on the deal are expected to be completed by early October. Vodafone Egypt is one of three international firms understood to be interested in acquiring the stake.The local Orascom Telecom announced on 4 September the termination of its offer to acquire the entire share capital of Raya. Other shareholders in Raya include Kuwaits Watheega Holding G

  • Wade wins second Al-Sufouh package

    The Roads & Transport Authority (RTA) has awarded the local Wade Adams Contracting the estimated AED 220 million ($60 million) second package on the Al-Sufouh roads scheme. The contract is the latest project aimed at improving access to Dubai Marina. In July, the local/UK Dutco Balfour Beatty (DBB) was awarded the contract for interchange 5.5, which will serve Dubai Marina and Jumeirah Lake Towers (MEED 1:9:06).

  • Wade wins second Al-Sufouh package

    The Roads & Transport Authority (RTA) has awarded the local Wade Adams Contracting the estimated AED 220 million ($60 million) second package on the Al-Sufouh roads scheme. The contract is the latest project aimed at improving access to Dubai Marina. In July, the local/UK Dutco Balfour Beatty (DBB) was awarded the contract for interchange 5.5, which will serve Dubai Marina and Jumeirah Lake Towers (MEED 1:9:06).The 500-day contract entails the construction of two single-span bridges

  • We will break Israel's blockade, says Lebanon

    Lebanese Foreign Affairs Minister Fawzi Salloukh on 6 September said Lebanon would break Israel's air and naval blockade of the country if Tel Aviv did not do so within the 48-hour timeframe indicated by UN Secretary-General Kofi Annan. 'We will wait for the 48 hours given by Kofi Annan, and if the situation is resolved we will thank him,' Salloukh said. 'If it is not the Lebanese government will take the necessary measures and will break the blockade with all our might.' A day

  • WEC mulls Ras al-Zour options

    A final decision is expected by the end of September on the fuel feedstock to be utilised on the estimated multi-billion-dollar Ras al-Zour independent water and power project (IWPP), planned by Water & Electricity Company (WEC). The type of feedstock will be critical in determining the scheme's final configuration. WEC's original plan was to use gas to fuel the plant, but a royal decree promulgated earlier in the year stipulated that all future coastal power plants must use crude feedstock

  • WELDING: Fetch the engines

    For 30 years, the Lincoln Electric SAE 400 engine drive welder - nicknamed -'the bullet' - has been one of the workhorses of the region's energy sector. Designed in the 1970s to provide power for arc-welding work being carried out in remote locations, the rugged diesel-powered machine has established itself as an essential piece of equipment for contractors around the world. And it can be found on hundreds of projects across the Middle East.

  • WELDING: Fetch the engines

    For 30 years, the Lincoln Electric SAE 400 engine drive welder nicknamed the bullet has been one of the workhorses of the regions energy sector. Designed in the 1970s to provide power for arc-welding work being carried out in remote locations, the rugged diesel-powered machine has established itself as an essential piece of equipment for contractors around the world. And it can be found on hundreds of projects across the Middle East.

  • Work starts on Deir Ali

    Work has started on the new 750-MW combined cycle power plant at Deir Ali, to be powered by Egyptian gas feedstock from the Arab Gas pipeline under construction. The local Al-Shatta for Technical Engineering, a subsidiary of Germanys Siemens, has the civil works package on the new gas-fired plant. Construction will be split into three phases. The first phase is expected to take 22 months, phase 2 24 months and the phase 3 26 months.

  • Work starts on Deir Ali

    Work has started on the new 750-MW combined cycle power plant at Deir Ali, to be powered by Egyptian gas feedstock from the Arab Gas pipeline under construction. The local Al-Shatta for Technical Engineering, a subsidiary of Germany's Siemens, has the civil works package on the new gas-fired plant. Construction will be split into three phases. The first phase is expected to take 22 months, phase 2 24 months and the phase 3 26 months.

  • YEMEN

    Tender no Tender no MGS/06-19. Supply of the following hydro-meteorological network and survey equipment as part of a groundwater and soil conservation project: 1) 150 complete rainfall stations; 2) 15 complete weather stations; 3) 50 complete wadi flow level stations; and 4) 10 items of survey equipment. Bidders may bid for one lot or for all lots. Financed by the International Development Association. Bid bond is 2 per cent of tender price.

  • YEMEN

    General procurement notice. Carrying out works and provision of consultancy services for a rural access programme, as follows: 1) construction of rural intermediate roads with a total length of 46 kilometres using cold and hot mix asphalts; 2) maintenance of existing asphalt road projects with a total length of 700-900 kilometres, using performance-based management and maintenance of roads type contracts; 3) consultancy services for the construction supervision of the road projects; and 4) te

  • YEMEN

    Expressions of interest. Provision of consultancy services comprising the training of 13 members of the Modernisation TF and the core team of the Education Ministry as part of a basic education development project. The objective of this technical assistance is to equip Modernisation TF to provide leadership and direction to the modernisation of the Education Ministry, to participate in and understand the results of organisational analysis, to participate in communications activities represent

  • YEMEN

    General procurement notice. Carrying out works and provision of consultancy services for a rural access programme, as follows: 1) construction of rural intermediate roads with a total length of 46 kilometres using cold and hot mix asphalts; 2) maintenance of existing asphalt road projects with a total length of 700-900 kilometres, using performance-based management and maintenance of roads type contracts; 3) consultancy services for the construction supervision of the road projects; and 4) techn

  • YEMEN TELECOM: Changing platforms

    The poor cousin to its GCC neighbours, Yemen's gross domestic product (GDP) per capita is among the lowest in the Arab world. Unsurprisingly then, while Saudi youths play with the latest third-generation (3G) camera phones, few Yemeni nationals even have access to a mobile handset. Penetration stands at less than 10 per cent, but for those plugged into the country's cellular sector, the picture over the past two years has been one of rapid change.

  • YEMEN TELECOM: Changing platforms

    The poor cousin to its GCC neighbours, Yemens gross domestic product (GDP) per capita is among the lowest in the Arab world. Unsurprisingly then, while Saudi youths play with the latest third-generation (3G) camera phones, few Yemeni nationals even have access to a mobile handset. Penetration stands at less than 10 per cent, but for those plugged into the countrys cellular sector, the picture over the past two years has been one of rapid change.Mobile telephony first reached Yeme

  • Yemeni opposition protests election results

    Yemen's opposition umbrella group the Common Forum accused authorities of rigging votes in the presidential elections in favour of incumbent President Saleh. The group threatened to take to the streets in protest against preliminary results which showed Saleh to be in the lead with more that 80 per cent of the vote. 'If we do not have any other way in the absence of a neutral justice, we will take to the street and will ask the international observers to determine our true number,' said

  • Yemeni opposition protests election results

    Yemen's opposition umbrella group the Common Forum accused authorities of rigging votes in the presidential elections in favour of incumbent President Saleh. The group threatened to take to the streets in protest against preliminary results which showed Saleh to be in the lead with more that 80 per cent of the vote. 'If we do not have any other way in the absence of a neutral justice, we will take to the street and will ask the international observers to determine our true numb

  • Yemenis cast their ballots

    Voting in Yemen's presidential and municipal elections began on 20 September. Four candidates are running against the incumbent President Saleh who has held power for 28 years. The biggest threat to Saleh comes from Faisal al-Shamlan, a candidate for a coalition of opposition parties who is running under the slogan of 'A president at the service of Yemen, not Yemen at the service of the president' and promoting economic and political reform.Authorities have tightened secur

  • Yemenis cast their ballots

    Voting in Yemen's presidential and municipal elections began on 20 September. Four candidates are running against the incumbent President Saleh who has held power for 28 years. The biggest threat to Saleh comes from Faisal al-Shamlan, a candidate for a coalition of opposition parties who is running under the slogan of 'A president at the service of Yemen, not Yemen at the service of the president' and promoting economic and political reform.Autho

  • You were not a dictator, judge tells Saddam

    The chief judge presiding over the trial of Saddam Hussein on 14 September told the former Iraqi leader he was not a dictator. Judge Abdullah al-Amiri made the comment following testimony from a Kurdish man who described pleading with Saddam to release his jailed family in 1989. Saddam asked the witness: 'Why did you try to meet me when you knew I was a dictator?' 'You were not a dictator,' the judge replied. 'People around you made you [look like] a dictator.' A day earli

  • Zadco launches field development scheme

    Expressions of interest have been submitted for a conceptual design study on the Upper Zakum full field development. The client, Zakum Development Company (Zadco), plans to issue invitation to bid (ITB) documents for the contract soon.

  • Zadco launches field development scheme

    Expressions of interest have been submitted for a conceptual design study on the Upper Zakum full field development. The client, Zakum Development Company (Zadco), plans to issue invitation to bid (ITB) documents for the contract soon.

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