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In the news this week
In Saudi Arabia, three projects have been announced in the iron and steel sector with a combined value of 9.3 billion U.S. dollars, and with a production capacity of 6.2 million tons. One of the projects is an integrated iron sheet production facility focusing on shipbuilding, oil pipes and platforms, as well as enormous oil reservoirs.
A second is being negotiated with international investors for the development of an integrated iron surface production complex to serve the sectors of automotive, food packaging, household appliances, and water transportation pipe. The 3rd factory will be established to produce circular iron blocks for the oil and gas industry’s unwelded iron pipes.
Also in the steel industry Seah Gulf Special Steel, a joint venture between Saudi industrial investments company Dussur and Korean group SeAH Changwon Integrated Special Steel Corporation.
It has sealed an industrial land allocation agreement with King Salman Energy City (Spark) to set up its new steel pipe factory with a production capacity of 20,000 tonnes per year in Dammam at an investment of more than $266.3 million. SeAH Gulf Special Steel also awarded an engineering, procurement, and construction contract (EPC) worth US$69 Mn to local Sendan International Company for the factory.
Dubai Electricity & Water Authority (DEWA) has invited interested developer or developer consortiums to submit their Expression of Interest (EOI) by no later than 10th Oct 2022 to build and operate a new Solar Photovoltaic Power Project Phase VI (6) with an aggregate capacity of 900MW AC.
The Project, to be developed as an Independent Power Project (IPP), will be located within the Mohammed Bin Rashid Al Maktoum Solar Park, and is scheduled to be commissioned in phases starting Q3 2025.
Sharjah-based metal construction company Trend Industries FZC announced plans to invest US$6.8Mn for the construction of a new production facility in the Hamriyah Free Zone. The proposed expansion will scale up the company’s production capacity from 3,600 tonnes per year to 8,400 tonnes per year
Oman’s Ministry of Culture, Youth and Sports has floated an international tender to design and build the Oman Cultural Complex, a project which was earlier placed on hold. The centre, with a build-up area of approximately 73,000 sqm, aims to be a national cultural centre in Muscat.
As per the tender notice, the complex will include a 1,000-seat auditorium, a 250-seat flexible auditorium, a 20,000 sqm five storey national library and the national archives will include nearly 20 kilometres of archival shelf displays.
In Egypt, Elsewedy Electric for Trading and Distribution, a subsidiary of Elsewedy Electric, has signed three contracts worth us$114 Mn to establish transformer stations in the South Valley Development project which aims to reclaim 375,000 feddan in the Toshka area. The contracts are scheduled to be implemented within a period of 12 months from the date of signing the contract.
Major industrial projects announced in Egypt in the past few days including
