Liberty House, signed an agreement with Tata Steel UK to acquire its high-profile Speciality Steels business for AED458mn.
Author: Paromita Dey
Petroleum Development Oman (PDO) signed a $1.2bn contract with Japanese supplier, Sumitomo, to supply piping for its drilling operations through Duqm.
Saudi Binladin Group’s (SBG) looks to have secured a two-year extension on a SAR 10bn ($2.7bn) Islamic credit facility used to fund delayed building work at the Grand Mosque in Mecca, Reuters said citing unammed sources. The news agency reported last month that the cash-strapped construction contractor had asked a syndicate of banks for the credit to be extended to the end of 2019. This had now been agreed, subject to the signing of legal documents, and should be finalised by March, one source told Reuters. The loan will now have a similar timeframe for the completion of the mosque project, which has…
Dubai South has announced the completion of the Phase 1 of its Aerospace Supply Chain Facility at Aviation City on the inaugural day of MRO Middle East.
Qatar is spending almost $500m a week on major infrastructure projects as it gears up to host the 2022 Fifa World Cup. Spending is likely to continue at the same rate for the next three to four years as the country builds towards the event, finance minister said Ali al-Emadi said. As well as a number of new stadiums Qatar busy investing in roads, rail links and hospitals. The final bill could come to an incredible $200bn, al-Emadi told reporters at a press conference last month. 90% of the 2022 contracts have already been awarded, added Emadi. That doesnt mean…
Amec Foster Wheeler has opened a new office in the Sultanate of Oman, establishing a permanent presence in a country where it has a long history of delivering projects. The firm has won a number of recent projects in Oman, including a three-year technical services agreement contract with Oman Oil Refineries and Petroleum Industries Company SAOC (Orpic) in 2015 for the Mina Al Fahal Refinery and Sohar Refinery, Aromatics and Polypropylene plants. Amec Foster Wheeler was also awarded a contract by the Oman Tank Terminal Company (OTTCO) for the front-end engineering design of the Ras Markaz Crude Oil Park Project…
Kuwait’s Agility seeks to settle by arbitration a $380mn dispute with Iraq’s government over the company’s investment in the telecoms industry.
HVAC specialist Clima Uno has started construction work on a new purpose-built facility in Dubai Investment Park that will quadruple the companys production. Spanning over 100,000 sq.ft. the new factory will manufacture air handling units, fan coil units, energy recovery ventilators and ecology units of European grade to cater to the needs of local and regional HVAC contractors. The project is slated for completion in the fourth quarter of 2017 and can be expanded by an additional 100,000 sq. ft., if needed. Navin Valrani, CEO of Clima Uno, said: This is a key milestone in the history of Clima Uno.…
Saudia Cargo has renewed the agreement of human organ transportation with the Saudi Center for Organ Transplantation, established since January 2014.
Construction Business News Middle East has opened the nominations for the Construction Innovation Awards Qatar 2017. The event will take place on May 10 at the Grand Hyatt Hotel, Doha and concide with Qatar’s biggest construction exhibition and tradeshow, Project Qatar which runs from May 8 11, 2017. Wissam Younane, CEO of BNC Publishing, said: Mega-events like the World Cup are key to building the Qatar of the future and the construction sector is playing a pivotal role. The Construction Innovation Awards will celebrate the individuals and companies propelling the country forward towards its aspiration to the national vision of…