arabian_lands_2_english

ArAbiAn lAnds MAGAZinE issue TWO - JANuARY 2013 1

As one we took the journey. As one we reached the destination.

almaabar.com Shaping destinations together

In 2007, we at Al Maabar backed by Abu Dhabi’s leading development and investment companies saw potential in the landscapes around the region. We didn’t just see land. We saw empowerment of communities, nurturing of cultures and enrichment of heritage.

Together with like-minded partners who were committed to economic growth, environmental sustenance and harmony with locals, we laid the foundations. Today, with every brick laid and opportunity discovered, we see the vision continue to come to life in Morocco, Jordan and Libya; we shape destinations together.

To �nd out more about our projects in Jordan, please contact +962 6 5777000

Bab Al BahrRabat – Salé, Morocco

The St. Regis ® Amman and The Residences at The St. Regis Amman | Jordan

Marsa ZayedAqaba, Jordan

Al WahaTripoli, Libya

Published byARABiAN LANDs BusiNess LTD LondonCompany Number . 8209728

Westgate House – Level 7Westgate Road – eailingLondon W5 1YY

ChairmanProfessor Ahmad Al-Zoabi

Editor-in-ChiefNoora Albadri

Consultants Team:Ibrahim Al-Ghamri – KSA Luna Madi - LondonSuad Albadri – Bahrain Suzanne Almani – UAEMohammad Al-dwairi - Jordan

Publisher & CEODr. Bassam Al-Zoubi

Head Office: UKTel: +44 (020) 8991 3372Fax: +44 (020) 8991 3373Mobile: +44 (07) 440 574 019

Regional Office - Bahrain:Tel: +973 1 7322 516Fax: +973 1 7322 516Mobile: +973 3960 7616

Saudi Arabia Office:Tel: +966 504 134 326

UAE Office: Tel: +971 504 532 281

Jordan Office:Tel: +962 6 5511 680Fax: +962 6 5528 035Mobile: +962 796 770 790

www.arabianlands.net

DeCeMBeR 2012

EditoriAl

issue ONe

thank you….And The events continueMany thanks for all your reactions and congratulations that we have received after the issue of the first magazine ARABIAN LANDS and what pleased us most are your views and reactions on the various sections which the magazine contains. This is evidence that you have looked critically at the magazine which helps to guide us to improve the end product.Before and after everything, thank God, we are grateful to those who helped us get the magazine into existence. Away from all the bookmakers and justifications, we recognize that perfection is to God Almighty, and we hope that all our readers will continue to advise us to create a better magazine, issue by issue. Many thanks to those who congratulated us on the publication of the first issue and to those who gave a critical assessment; this will inform and support our future work.In this issue, we include files and numerous reports. We intend to target various growth areas; first of them, Arab Private Sector Forum in the Saudi capital Riyadh, which is organized by the League of Arab States and the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries and the Council of Saudi Chambers.The Forum will be attended by the elite of Arab businessmen representing all the main economic sectors of all Arab countries, to discuss many of the files, initiatives and issues that will be submitted to the Economical, Development & Social Summits to be held in Riyadh at the end of January 2013.The official launch of the magazine ARABIAN LANDS and its website will be through this forum in the centre of a significant presence that represents public and private sectors of most Arab countries. We are pleased to showcase the magazine to a broad Arab presence to achieve our vision to choose the name of your magazine ARABIAN LANDS (Arab lands), so that everyone can witness a good start towards a serious and purposeful work, aiming to serve our countries and peoples, God willing.The second edition of the magazine will be available to more than 30,000 people, representing more than 150 countries at the Abu Dhabi sustainability Week in the UAE capital Abu Dhabi, which is organized by the Abu Dhabi Future Energy Company (Masdar). This will include various events namely, The International Renewable Energy Agency General Assembly, (IRENA),Third General Assembly, The World Future Energy Summit (WFES), The International Water Summit, The International Renewable Energy Conference (IREC), The 1st Energy Meeting Of The Arab League And South American Energy Ministers, and The Zayed Future Energy Prize Awards Ceremony.This great international event reinforces our view that the Arab world has a lot to offer. Saudi Arabia is the largest oil producer in the world but at the same time, the Arab world wishes to illustrate its position on renewable energy to the European market.The Abu Dhabi Future Energy Company (Masdar) has become a source of inspiration to the whole world on the topic of renewable energy through the establishment of (Masdar) city in Abu Dhabi, the first of its kind in the world, to say to the world... Yes we are able ... And the Arab lands are everyone’s course, first and foremost.

Noora AlbadriEditor-in-Chief

CONTeNTs

Ras Al Khaimah has Chance to Become A Business Center

A Kuwait refinery deal for UK’s AMEC

Speculations of Qatar’s GDP growth in 2013

$650m Saudi investment in Sudan

The first Renault plant in Algeria

UK Renewable Energy Powers Forward

AID for Trade Initiative for Arab States

Contracts Of SR16b for Yanbu Desalination

22 Report

6 News

6 News

14 countries 12 countries

8 Report

18 Report

20 Report

thE ArAb World AND iNvesTMeNT CHANCes

Fathallah Sijilmassi, the Secretary General of the Union for the Mediterranean (UfM), said that the economies of the Arab countries of the Mediterranean provide enormous investment opportunities for European companies.Sijilmassi, a conference on “The economic outlook and business opportunities in Arab countries of the Mediterranean” organized by (CCISME), explained that Arab countries can represent an “importnat option” to strengthen the competitiveness of European businesses, particularly in a context marked by the economic crisis. He also added that European companies wishing to invest or settle in Arab countries can benefit from increased opportunities to develop, noting that the Arab markets have always been made a platform for major export for foreign companies. The political and democratic transition in several Arab countries of the southern Mediterranean has created new business opportunities that previously did not exist with regard to the prevailing climate of openness in these countries, According to the Secretary General of the UfM.

nEWs

Billions of dollarson harbors in theGCC CountriesThe GCC countries are expected to spend billions of dollars to extend their harbors in the coming five years to keep abreast with increasing demand, booming businesses, maritime experts taking part in the opening of Khalifa Port. Sultan Al Jaber, Chairman of Abu Dhabi Ports Company (ADPC)declared that the UAE ports have the highest cargo activity in the region as they handle more than 60 per cent of the cargoes being shipped to the region“GCC ports are also positioning themselves to meet future demand from underdeveloped neighbors Iran, Iraq, Pakistan, Afghanistan and East Africa when they come out from economic and political crises,” A report issued by Al Markaz reports said. The report also revealed that Dubai is the foremost GCC port by container volume and is ranked at the ninth place among the top 10 world container ports.

4 ArAbiAn lAnds MAGAZinE issue TWO - JANuARY 2013

A Kuwait refinery deal for UK’s AMEC

The Kuwait National Petroleum Company (KNPC) has awarded AMEC, the UK-based engineering and project management, a $528m project management consultancy contract for a new oil refinery in the Gulf state. It will be a key part of Kuwait’s long term strategy, producing cleaner fuels to meet its electrical power generation growth and demand while adhering to the latest environmental standards.When completed in 2018 the multi-billion dollar refinery in Al Zour is expected to be the largest in the Middle East and will increase Kuwait’s refinery capacity by 615,000 barrels per day.“This contract award supports our Vision 2015 strategy, which includes growing our presence in the Middle East’s oil and gas upstream, midstream and downstream sectors”, Dr Hisham Mahmoud, AMEC’s group president, Growth Regions revealed.

Speculations of Qatar’s GDP growth in 2013

The government’s General Secretariat for Development Planning - in Qatar Economic Outlook 2012-2013 report - declears that Qatar’s volume gross domestic product (GDP) growth is forecast to mitigate to 4.5 percent in 2013 from a projected growth of 6.2 percent in 2012. The speculation for 2012 represents an upward revision from the 5.1 percent forecast made in QEO 2011-2012. The revision lies mainly in an overestimation of gas production in 2011. In 2013, the statistical boost given to 2012’s GDP growth by the previous year’s delay in additional hydrocarbon capacity coming on stream will have faded. By the end of 2013, the Pearl GTL facility will probably be operating at close to full capacity, achieving full output in early 2014. And a mixed feed cracker petrochemical plant, with construction starting by 2013, will be commissioned by 2016.

$3 billion Saudi Transaction for Samsung Association

A $3.0 billion transaction to build a power and desalination plant in Saudi Arabia has been ensured by an international consortium led by Samsung Engineering.The association, including China’s Shanghai Electric and Saudi’s Al Toukhi, would build the 3,100 megawatt facility in the Red Sea port of Yanbu, Samsung said. Samsung will receive $1.5 billion of the total order value, the company said. Another South Korean builder, Doosan Heavy Industries and Construction, said recently it had won a $1.0 billion deal to build a separate desalination plant in Yanbu by 2016.

nEWs


rEPort

Renewable energy is powering forward in the UK, according to the 2012 update to the Renewable Energy Roadmap published today by Energy Secretary Edward Davey.Significant progress has been made on the rollout of renewable energy across the United Kingdom from July 2011 to July 2012, including:

- A 27 per cent increase in overall renewable electricity generated;- A 40 per cent increase over the same period in renewable electricity capacity. Now over 10 per cent of all electricity generated is coming from renewables;- A 60 per cent increase of offshore wind capacity to 2.5 gigawatts, and;- A five-fold increase in solar PV capacity.

The Roadmap shows that the UK is on track to meeting our first interim target on the way to the ambitious European target to source 15% of all energy from renewable sources by 2020.

UK rEnEWAblEEnErGYPOWERS FORWARD

Edward Davey,energy and Climate Change secretary, said: “Renewable energy is increasingly powering the UK’s grid, and the economy too.“It’s a fantastic achievement that more than ten percent of our power now comes from renewables, given the point from which we started.“Right now, getting new infrastructure investment into the economy is crucial to driving growth and supporting jobs across the country. I am determined that we get ahead in the global race on renewables and build on the big-money investments we’ve seen this year”.

John Hayes,Minister of statefor energy, said:“Energy is crucial to our economic well-being, bringing in major investment and supporting jobs across the country.“I firmly believe that a diverse energy mix is the best way to ensure our energy security. It is extremely encouraging that we have made such positive steps on renewable energy as part of that mix.”The Roadmap also shows that in the last year the costs of many renewable technologies have fallen. For example, the cost of solar PV has fallen by 50%, with the technology now identified as a key technology in the Roadmap update.


SCOTLAND• Gamesa has signed

a Memorandum of Understanding with the Port of Leith to develop turbine assembly plant that could create up to 750 jobs.

• AREVA announced plans to locate a factory for producing offshore wind turbines in eastern Scotland, which could create 750 jobs

• Wood Group and Steel Engineering have been awarded a £17m contract to design and fabricate weather monitoring stations for use in an offshore wind farm off the coast of East Anglia.

• SSE have been granted planning permission for the Viking Energy wind farm, with potential investment of around £550m, supporting 174 jobsglu.

WALES• Vattenfall have been

granted planning for Pen-y-Cymoedd wind farm, with potential investment needed of around £365m, supporting 300 jobs

NORTHERN IRELAND• DONG Energy are

developing a £40m tailor-made installation harbour in Belfast Harbour for the West of Duddon Sands offshore wind farm, and with potential for future Irish Sea projects. This will create up to 450 jobs.

• Harland and Wolff have won a contract for the Gwynt y Mor offshore wind farm, and also provided assembly for the Ormonde offshore wind farm. The Belfast shipyard is currently 75% offshore renewables-based.

NORTH EAST ENGLAND• In September 2012 OGN

received planning permission to build a facility in Newcastle to manufacture offshore wind turbine foundations. It is estimated that this will create 700 jobs during operations and a further 100 during the construction. A further 200 jobs could be created in the regional supply chain.

• Tata Steel opened its new £2m Offshore Processing Centre in Hartlepool to produce sections of pipe that will be used to make foundations for offshore wind turbines.

• In April 2012 JDR Cables completed a £30 million upgrade to its manufacturing plant in Hartlepool. This created 130 new jobs.

• Reef Subsea Power & Umbilical wins a major contract with the Gwynt y Môr Offshore Wind Farm, worth approximately £40-million.

EXAMPLES OF RENEWABLE ENERGY INVESTMENT ACROSS THE UK:


YORKSHIRE & HUMBER• Banks Renewables will

invest £21.9m at Penny Hill Wind Farm. This will support 30 jobs.

• Consent has been given to Vireol to build a £200m biorefinery, supporting up to 1000 construction jobs and up to 90 when in operation.

WEST MIDLANDS• Forkers Ltd won £9.2m

in contracts from RES for onshore wind farm design & construction.

• Geothermal International received a £12m investment for international expansion.

• Morgan Sindall won £25m contract to design and build a pioneering new biogas energy scheme for Yorkshire Water.

EAST MIDLANDS• ECO2 started the

construction of a £100m straw fuelled plant in Sleaford. This will create 30 jobs in operation, 50 in fuel supply and it will require local straw contracts estimated at £6m per annum.

SOUTH WEST• TGC Renewables are constructing a 6.2MW solar farm in Devon.• Helius is spending £300 million developing the Avonmouth

biomass plant. This will created 40 jobs, with the potential for 450 during construction.

EAST ENGLAND• Seajacks new £3 million

HQ in Great Yarmouth will create 50 extra jobs.

• Planning permission was granted for Dudgeon (560MW) and Centrica’s Race Bank (580MW); which could represent around £3bn of investment.

• • EAOW has announcedthat it has invested £6.65m in the East Anglia region (over last 2 years) as it develops their project (East Anglia).

SOUTH EAST AND LONDON• Viridor have begun

construction of a £205m energy from waste plant, that will create 40 permanent jobs

NORTH WEST• Camell Laird have begun

work on a £5m contract from RWE’s Gwynt y Môr windfarm that will create up to 600 jobs in next decade.

• Siemens opened its new Renewable Energy Engineering Centre in Manchester which will create 340 jobs.

rEPort


“This is a durable agreement across the Coalition against which companies can invest and support jobs and our economic recovery.

“The decisions we’ve reached are true to the Coalition Agreement, they mean we can introduce the Energy Bill next week and have essential electricity market reforms up and running by 2014 as planned.

“They will allow us to meet our legally binding carbon reduction and renewable energy obligations and will bring on the investment required to keep the lights on and bills affordable for consumers.”

With a fifth of the UK’s electricity generating capacity due to close this decade, reforms are needed to provide certainty to investors to bring forward £110 billion investment in new infrastructure to keep the lights on and continue the shift to a diverse, low carbon economy as cheaply as possible. It will support as many as 250,000 jobs in the energy sector.Mr. Davey announced a package of decisions around the Energy Bill, which will be introduced next week:

•The creation of a Government-owned companyto act as a single counterparty to give investors confidence to enter into new long term Contracts for Difference for low carbon electricity projects.

•Powerstointroduceacapacitymarket,allowingforcapacity auctions from 2014 for delivery of capacity in the winter of 2018/19, if needed, to help ensure the lights stay on even at times of peak demand. The Government is also seeking to provide certainty to gas investors and a Gas Generation Strategy will be published alongside the Chancellor’s Autumn Statement.•An amendmentduringpassageof theBill to takepowers to set a decarbonisation target range for 2030 in secondary legislation. A decision to exercise this power will be taken once the Climate Change Committee has provided advice in 2016 on the 5th Carbon Budget which covers the corresponding

GOVERNMENT AGREEMENT ON

ENERGY POLICY SENDS CLEAR, DURABLE SIGNAL TO INVESTORSThe Government has reached a landmark agreement on energy policy that will deliver a clear, durable signal to investors, Edward Davey announced.

The Energy and Climate Change Secretary said:

period. In the meantime, the Government will issue guidance to National Grid setting out an indicative range of decarbonisation scenarios for the power sector in 2030 consistent with the least cost approach to the UK’s 2050 carbon target and reflecting both the existing fourth carbon budget and a scenario in which it is reviewed up, as outlined when the budget was set.

The amount of market support to be available for low carbon electricity investment (under the Levy Control Framework) up to 2020 has also been agreed. This will be set at £7.6 billion (real 2012 prices) in 2020, which corresponds to around or £9.8 billion (nominal 2020 prices). This will help diversify our energy mix to avoid excessive gas import dependency by increasing the amount of electricity coming from renewables from 11% today to around 30% by 2020, as well as supporting new nuclear power and carbon capture and storage commercialisation. It is broadly consistent with the Committee on Climate Change’s recommendation. It will provide certainty to investors in all generation technologies and provide protection to consumers.


During a highly symbolic visit by President Francois Hollande to the former French colony, Renault spokeswoman declared that a contract will be signed to build Renault’s first factory in Algeria that is considered an important supplier of oil to France, hundreds of French businesses operate there, and France is its top trade partner. It is expected that the Algerian state will hold a 51 percent stake in the project and Renault will hold the rest. The factory will be located in Oran and will be guided to the flourishing local market. Its initial capacity will be of 25,000 vehicles annually from 2014 and will rise to a maximum yearly output of 75,000. It will produce the Renault Symbol, a saloon based on its Clio compact sold mainly in markets where hatchbacks are not traditionally favoured.

Algeria

The firstRENAULt PLANtin Algeria

CoUntriEs


Qatar Telecom subsidiary Asiacell affirms its intention to forward with a share offer of Shares on the Iraq Stock Exchange (ISX) as part of the terms of its license. Asiacell’s instituting shareholders will offer 25% of their Shares on the ISX. The Iraq Securities Commission (ISC) maintains the admission of these Shares to the official list of securities and to trading on the ISX is expected to commence on 03 February 2013. Rabee Securities, Iraq’s largest independent commission, is acting as the only distributor and selling agent and Melak Iraq, an Iraqi Financial Advisory Firm, is the only adviser to the company in respect of the Offer.

iraq

ASIACELLintends to be listed onthE ISX


CoUntriEs

$650m saudi investmentin sudan

sudanA partnership had been signed by Sinnar state with the Saudi Tala Company to produce sugar, ethanol and bio-fuel in Sinnar state from the Jatropha tree to be cultivated in an area estimated at 165,000 acres at a cost of $650 million. The company’s Sinnar subsidiary is made up of a sugar factory, ethanol factory and bio-fuel factory, Khalid Al Deyaee, manager of Tala Company, declared . It is the biggest factory where the first Arab ethanol will be produced and exported to Europe and North America, he said. The machine for brick blocks is the first of its kind in the Middle East, Dr. Esameldine Khidir, manager of Terhab Company for Agricultural and Animal Production, stated. He added in future the company will further improve its production to slowly replace kilns through cooperation with banks, graduate employment projection and workers unions.


thE WAvE, MusCAT sign contract for KeMpiNsKi HOTeL

The Wave, Muscat signed the contract of Kempinski The Wave, Muscat Hotel and Hotel Apartments, the first of the four hotel developments at The Wave, Muscat. The new hotel will target both business and leisure travelers and it is also designed in harmony with the surrounding ITC development, in a contemporary style and to the highest specifications.

Oman

The Omani Hospitality Company (OHC) will develop Kempinski The Wave, Muscat – Muscat’s newest five-star hotel. Building of the hotel will begin in the first quarter of 2013 and it is scheduled to start operation during the second half of 2015. Abeer Mohamed Al Abduwani, deputy chairperson of Omani Hospitality Company and the chief executive of Oman Brunei Investment Company declared Kempinski The Wave, Muscat will offer 309 hotel keys and 77 hotel apartments overlooking the beachfront. She also added that: “Kempinski The Wave, will be positioned clearly above the current comparable set of hotels in the market in terms of finish and design and will compete with the new supply of luxury resorts entering the market. The new hotel will be a valuable addition to The Wave, Muscat and a tourist milestone development for Muscat governorate”.


CoUntriEs

The Moroccan and French heads of government, Abdelilah Benkirane and Jean-Marc Ayrault signed two loan agreements totaling 173 million Euros to provide funding for projects aimed to create industrial platforms and promote “mixed economy” in public services in Casablanca. The agreements were signed at the closing of the forum of Moroccan and French businessmen. A Euro150mn loan is meant to fund a program of techno-poles and P2I – Industrial Integrated Platforms, which is part of Morocco’s industrial emergence plan, aimed to create an attractive offer specific to each of the north African country’s World Professions, i.e. aeronautics, , car equipment manufacturers, electronics, offshoring, agribusiness and textile and leather industry. The two countries also signed a memorandum of understanding on setting up training centres on renewable energies and energy efficiency. It complements solar and wind energy developed in the north African country.

Morocco

DEvELOPmENt PROjECtS in Morocco is to be fundedby France


A historic opportunityThe Arab region faces today a number of major challenges that have hindered many of the League of Arab States (LAS) member countries’ capacity to reap the benefits of international trade and regional trade and to achieve regional integration.

The 22 members of the LAS region have one of the lowest levels of intra-regional trade in the world despite preferential market access. According to COMTRADE database, most countries in Arab region will continue to trade mainly outside the region, primarily with Asia, EU, Japan and the United States. Indeed, less than 7% of the exports from the region are destined for other countries in the region. However, the volume and share of regional trade could rise significantly. Poverty poses a constant threat to economic growth, trade reform, private sector development, knowledge and gender equality. A quarter of the region’s population lives below national poverty lines.

The International Trade Centre’s (ITC’s) analysis finds that by removing remaining obstacles to trade, there is the potential to increase total trade of member states by 10% and create at least 2 million jobs.

An Aid for trade initiative for the Arab states The initiative will be organized around a two-year project constituting the first phase that will focus on helping countries and the main sub-regional and regional integration entities to accelerate the pace of trade reforms, to strengthen the employment effects of those reforms with particular focus on women and youth and to mobilize additional resources for this purpose. The programme’s objective: Inclusive economic growth with increased employment opportunities and greater competitiveness Building upon the experience and on-going activities in the region and at country level of the five collaborating UN agencies, four results areas have been carefully designed to be achieved during the 24-month project.

Aid For trAdEinitiative for arab statesachieving sustainable and inclusive Development

Key results1. Capacity gaps and priorities for trade-related

technical assistance and productive capacity development are prioritized at the national, sub-regional and regional levels and action oriented road maps formulated to take forward the trade related aspirations expressed in the outcome documents of Arab Economic and Social Summit.. Responsible agency: UNDP.

2. Capacities of the LAS, Gulf Cooperation Council, Arab Maghreb Union, and the Agadir Agreement

Technical Unit to implement regional integration processes and the Pan Arab Free Trade Area (PAFTA) is enhanced. Responsible agency: UNCTAD

3. Regional and country tailored solutions are provided. Responsible agencies: ITC and UNIDO.

4. Skills development strategies to support growth and decent employment creation are developed. Responsible agency: ILO

Interventions with the highest impact

rEPort


strategic objectiveTo provide a platform for targeted trade reforms at regional and country levels, building upon UN agencies’ experience and on-going technical assistance and capacity development interventions

FACts2/3of the MENA region’s population under the age of 24 (1/3 below age 15)

25% youth unemployment, with North Africa reporting approximately 24%

30% Female youth unemployment 35% Participation rate (lowest in the world compared to the global average of 52%)

22 members of the LAS are: Algeria, Bahrain, Comoros, Djibouti, Egypt, Gaza and the West Bank, Kuwait, Iraq, Jordan, Lebanon, Libyan Arab Jamahiriya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, the Sudan, the Syrian Arab Republic, Tunisia, United Arab Emirates and Yemen.

11 members of WTO among LAS are: Bahrain, Egypt, Kuwait, Jordan, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Tunisia, UAE.

idb role and operations The Islamic Development Bank (IDB) Group is contributing $2 million towards the estimated $11 million required for the first phase of the initiative. The International Islamic Trade Finance Corporation (ITFC) member of the IDB Group will chair the Project Board responsible for overall oversight. The Project Board will be made up of stakeholders from the region, donors and other partners. ITFC will also lead in monitoring the implementation of activities associated with the initiative and ensuring alignment with other IDB trade-related investments in the region. UNDP/RBAS will act as implementing agency and will be in charge of project resource management. At country level, each participating country will nominate a national focal point, to be responsible for facilitating implementation

timelineThe first phase of the Aid for Trade Initiative for Arab States will start in Spring 2013 and focus on helping countries and the main sub-regional and regional integration entities to accelerate the pace of trade reforms, to strengthen the employment effects of those reforms with particular focus on women and youth and to mobilize additional resources for this purpose. Operations are expected to start by March 2013, following an official launch organized by ITFC. Work plans for each result area will be submitted to the Project Board for approval within three months of the start-up of project activities. A mid-term review will be undertaken after the first year. At the end of the 24-month project, i.e. in spring 2015, a comprehensive evaluation will also be undertaken.

Partners The Aid for Trade Initiative for Arab States is a joint technical assistance intervention by five UN agencies of the UN Cluster on Trade and Productive Capacity.


rEPort

Madinah Emir Prince Abdul Aziz bin Majed opened the world’s largest multi-effect desalination (MEd) plant in Yanbu. he also patronized the signing of contracts for building the third phase of the Yanbu – Madinah desalination and electricity generation project. the ambitious project is estimated to cost sr16 billion, the saudi Press Agency reported.

CONTRACTS OF

SR 16B FOR YANBuDesALiNATiON

Prince Abdul Aziz also opened the MED plant, which has the productive capacity of 15 million gallons per day and he attends series of contracts for designing, supplying and implementation of Yanbu 3 transformer with a capacity of 380 KV, costing SR716 million; building third phase of the Yanbu desalination and electricity generation plant (Group D – desalination plant) with a cost of SR3.8 billion; and the third phase of the Yanbu desalination and electricity generation project (Group B – electricity plant) with a cost of over SR11.23 billion. Abdul Rahman Bin Muhammad Al-Ibrahim, governor of SWCC said that the third phase of the desalination plant would have the export capacity of 550,000 cubic meters of water daily and 2500 megawatts of electricity. Of this, 1,850 megawatts will go to the Saudi Electricity Company and Marafiq Company would take advantage of the remaining 650 megawatts. Referring to the remarkable achievements made by the Kingdom in the desalination sector, he said that Saudi Arabia has become the largest producer of desalinated water in the world with a stake of 18 percent of the total global production. “By taking advantage of the MED technology, we can rationalize use of fuel by 40 percent and extending life span of the plant up to 40 years” he said.


rEPort

His Highness Shaikh Saud bin Saqr Al Qasimi, Member of Supreme Council and Ruler of Ras Al Khaimah, has said the Emirate of Ras Al Khaimah was interested on becoming a center for businessmen. He confirmed that the emirate will offer facilitations to attract substantial businessmen according to their fundamental role in developing communities and consolidating ties among countries.“The emirate of Ras Al Khaimah hosts many investments from different countries worldwide, especially in the area of industry. RAK is home of various industries such as the cement, constructions and others. This sector had exhibited its strength during the economic crisis,” said Shaikh Saud.These statements were made during the setting up of the third edition of the Global Arab Business Meeting (GABM) organised by Horasis, the Global Visions Community in cooperation with the RAK government represented by RAK Investment Authority and RAK Chamber of Commerce and Industry.

UAE Exchange, the leading global remittance and foreign exchange brand, exposed the Middle East’s first six-currency prepaid travel card, go cash, which will enable travellers to move around the world, without difficulties, with a power-packed plastic currency that can be used across 34.3 million merchant locations and 1.5 million ATMs.Abdulla Humaid Ali Al Mazroei, chairman of the UAE Exchange and Dr B. R. Shetty, managing director and the chief executive of UAE Exchange, jointly launched this feature-packed travel card in Dubai. The go cash travel card is now available to the UAE Exchange customers across the 122 branches in the United Arab Emirates and roll out of the new product will continue through the remaining branches in Bahrain, Kuwait, Oman and Qatar. Al Mazroei and Shetty expressed their immense happiness in launching the secure and convenient go cash travel card, the first-of-its-kind path-breaking innovation from a remittance brand in the region, in partnership with MasterCard. One of the significant advantages of go cash to the customer is the exchange rate lock facility that allows pegging the rate at the prevalent market price at the time of loading the card, Promoth Manghat, vice president (Global Operations) of UAE Exchange, said.

ras Al Khaimah has Chance to become A BUSINESS CENtER

the first

SIX- CURRENCY tRAvEL CARDexposed in the Middle East


70% OF Qatar World Cup pROJeCTs WiLL Be AssuMeD BY pRivATe seCTOR

The country’s Chamber of Commerce boss declares that Qatar’s private sector is in line to be awarded 70 percent of all projects related to the Qatar 2022 World Cup. Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of the Chamber of Commerce and Industry, revealed preparations were underway to carry out several contracts that would give a huge boost to the banking, tourism and construction industries.«It is expected in the framework of the size of the projects that will

be implemented and the nature of where they project construction related to the construction sector and infrastructure projects, the Qatari private sector can acquire about 70 percent of these projects.» It is speculated that the total cost of staging the event is about US$70bn, with the key infrastructure to be built in several phases. Some of the initial big projects include a new metro in Doha, a new national rail system, and deepwater port and a causeway connecting Qatar and Bahrain. There will also be 12 new football stadiums constructed.


arabian_lands_2_english

Documents

arabian lands magazine

magazine arabian lands

jordan office

better magazine

al maabar

arab countries

bassam alzoubihead office

uae office