Thursday 17 October 2019

Six in race for 2.4GW Fujairah power plant project

Emirates Water and Electricity Company, a subsidiary of Abu Dhabi Power Corporation (ADPower), has announced that it has received six proposals for its 'Fujairah F3' Independent Power Producer (IPP) project. The Fujairah F3 project includes development, financing, constru


India's Texol Lubritech opens first overseas plant in Sharjah

India-based Texol Lubritech, a joint venture of Gandhar Oil Refinery India, has officially inaugurated its first overseas manufacturing unit in the Hamriyah Free Zone Authority at Sharjah, making its first expansion move outside the country. The $12-million manufacturing unit was


Mubadala, Carlyle complete Cepsa stake sale deal

Global investment firm The Carlyle Group has reached an agreement with Mubadala Investment Company, the Abu Dhabi-based sovereign investor, to acquire 37 per cent stake in Compañía Española de Petróleos, SAU, Cepsa, from the company. With this move, Ca


GWC posts 10pc rise in Q3 net profit to $50m

Qatar-based GWC, a leading logistics provider, has posted a net profit of QR182 million ($50 million), in the third quarter (Q3) of the year, representing a 10 per cent growth when compared to QR166 million during Q3 2018. Gross revenue was QR915 million at the end of the third q


Adnoc, Gazprom Neft sign strategic framework agreement

The Abu Dhabi National Oil Company (Adnoc) has signed today a strategic framework agreement with Gazprom Neft to explore new opportunities for collaboration in upstream and downstream sectors, as well as in artificial intelligence and other innovative technologies. The cooperatio


Lukoil unit acquires strategic stake in Abu Dhabi gas field

Abu Dhabi government and Abu Dhabi National Oil Company (Adnoc) have signed an agreement with Russia's Lukoil Oil Company awarding its subsidiary a five per cent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma and other offshore sour gas fields in the em


Golden Gate Developers sign up for Gulf Property mall event

Golden Gate Developers, a joint venture between Bahraini company Kooheji Golden Gate and Indian real estate companies Ajmera Realty and Mayfair Housing, has signed up as one of the strategic sponsors for The Gulf Property Show at The Avenues which opens next month.   The eve


South Energy to retrofit Dubai South’s streetlighting

South Energy, the energy solution’s arm of Dubai South, said it has been contracted to retrofit the entire Dubai South’s streetlighting with energy-efficient solutions to effectively replace about 4,550 conventional streetlights with LED (light emitting diode) lighting fixtures.


Mideast fire safety market ‘set for 8pc growth’

The Middle East market for firefighting systems, fire detection and alarm systems will be worth $3 billion by 2024, growing at a compound annual growth rate of 8%, said the organisers of the recently concluded Fire Safety Series in Abu Dhabi, citing a 6WResearch report. IQPC Midd


Dewa secures lowest bid for Maktoum Solar Park Phase Five

Dubai Electricity and Water Authority (Dewa) said it has received the lowest bid of $1.6953 cents per kilowatt hour (kW/h) for the 900-MW Phase Five of the Mohammed bin Rashid Al Maktoum Solar Park for using photovoltaic (PV) solar panels, based on the independent power producer (IPP) model.

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