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Abu Dhabi National Oil Company ADNOC signed an agreement with global methanol producer Proman to build the UAE‘s first methanol production facility at the Ta’ziz Industrial Chemicals Zone in Ruwais, Abu Dhabi. The natural gas to methanol facility is expected to have an annual capacity of up to 1.8 million tonnes.
AD Ports Group signed an agreement with Metal Park Investment ME to establish an integrated metal hub in KIZAD, covering a total land area of 450,000 sqm. The Metal Park in KIZAD will be equipped with state-of-the-art facilities supporting storage and handling, processing, and fabrication activities, as well as offering access to research and development amenities, rental office space, and associated financial services.
Saudi Crown Prince Mohammed bin Salman has launched Trojena, the new global destination for mountain tourism to be constructed within Neom project. The project is set for completion by 2026. The new year-round tourist destination will consist of a series of facilities such as the ski village, ultra-luxury family and wellness resorts, a wide range of retail stores and restaurants, in addition to sports activities, including a ski slope, watersports and mountain biking, as well as an interactive nature reserve.
Luxury electric vehicle maker Lucid Group Inc. signed a $30 million lease agreement with Emaar Economic City to construct and operate its manufacturing and assembly plant in Saudi Arabia’s west coast, the company’s first site outside the U.S.
Saudi Arabia awards contract to build and maintain 60 public schools in Al-Madinah Al-Munawwarah to Tatweer Buildings Company, a project that will accommodate more than 50,000 students.
In a similar development, the Ministry of Finance, Oman issued request for qualification for the design, construction, finance, operation, and maintenance of 42 school buildings under the Public-Private Partnership (PPP) Agreement.
