Saudi Aramco has signed a memorandum of understanding (MoU) with Korea Electric Power Corporation (KEPCO) worth KRW 400 trillion ($338mn) covering electricity projects in the Kingdom of Saudi Arabia. Under the agreement, the two companies will cooperate in four sectors: smart grid systems, aging power plant performance improvement, clean energy generation and energy efficiency improvement R&D. The MoU signing, on Monday, was attended by KEPCO president Cho Hwan-Ik and Aramco’s president Amin H. Nasser, according to reports in South Korean media. KEPCO is the company in charge of building the UAE’s four reactor nuclear power plant in Barakah, Abu Dhabi.
Author: Paromita Dey
Myra Properties has unveiled plans for a AED 150mn ($40mn) apartment project in Dubai, aimed at the growing community of young expatriates. Crystal Residence in Jumeirah Village Circle will have 225 units ranging from studios to three bedrooms and is expected to be completed by April 2018. Prices start from AED 382,000. Ismail Han, managing director of Dubai-based Myra Properties, said Crystal Residence will help satisfy rising demand for luxury apartments. Akash Kanjwani, Deputy CEO of Myra Properties, said: “Myra Properties believes that with such a young population increasingly entering the UAE, there would never be a better time for the real…
Hashim Contracting and Trading Company bags deal for hospital southwest of Riyadh.
New installation next to Emirates Towers took just two days to complete.
Canal-side project includes residential, retail and leisure attractions.
EMS has clinched a contract to supply Ajman with waste management equipment worth over GBP1.6m ($2.34mn). The deal – which is for a materials recovery facility in two stages and includes the MH 3500 metering hopper & bag opener – is a significant investment in new and more efficient technology by AIMS Group (Ajman Investment and Marketing Services), in line with the UAE’s increasing focus on managing waste and landfill sites. Recycling and waste management are becoming more and more of a hot topic in the UAE. The Dubai municipality has set an objective of reducing the amount of waste…
The UAE is building a 5.4GW power plant in Barakah, Abu Dhabi
Contracts handed out in Q1 amount to just $7.4bn as government cuts spending.
Utility wants to use the technology to build a laboratory at its solar power plant.
Spanish giant will carry out its fourth project for the Abu Dhabi oil giant.