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In the news this week
Saudi German Health has awarded contracts for the construction of an outpatient tower with 14 clinics and a 207-bed inpatient beds expansion for the Saudi German Hospital Riyadh to International Hospital Construction Company (IHCC) for US$59.5 million. The project is expected to be completed in 36 months.
Shell & AMG Recycling B.V. (SARBV) and its partner, the United Company for Industry (UCI), announced the signing of an agreement with Saudi Aramco to construct and operate a world-class Metals Reclamation Complex for the recovery and recycling of metals in Al-Jubail Industrial City, in Saudi Arabia.
Nesma & Partners, a leading Saudi EPC contractor entered an international joint venture (IJV) with the engineering company Kent to create a local Saudi company. Nesma Kent will support the execution of Saudi Aramco’s EPC projects within the industrial sector as part of the new National EPC Champion program announced by Aramco on 28th June 2022.
In UAE, Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International PLC has unveiled its newest beachfront luxury residential SeaSide Hills in Ajman. The development comprises four-bedroom luxury villas and a mix of residential apartment units with spectacular unobstructed sea views and private beach access.
In Oman, Sur Industrial City has signed two investment contracts to establish glass and perfume manufacturing projects in the industrial city. The first contract was signed with United Energy Company to set up a glass manufacturing project on an area of 20,000 sqm and a total investment of over US$2Mn.
The second investment contract was signed with Al Muasira United Trading and Contracting Company to establish a perfume manufacturing project at an investment of US$3.9 million.
Sohar Port and Freezone in Oman has partnered with Arkan Sohar Logistics to develop a port-based Container Freight Station (CFS) and logistics complex that will occupy 26,000 m2. Through this agreement, Arkan Sohar Logistics will offer bonded and non-bonded facilities, ambient and covered storage, as well as temperature-controlled, dry, chilled and frozen storage facilities.
