Monday 28 May 2018
 
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Saudi Electricity to build $1.23bn power plant

State-controlled Saudi Electricity said on Saturday it signed a deal to build a new SR4.6 billion ($1.23 billion) power plant in Shoaiba, some 120 km south of the Red Sea city of Jeddah. The statement did not say which company has been awa

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Aabar ties up with Korean firm for Hynix bid

Abu Dhabi state-owned fund Aabar has teamed up with South Korea's STX Corporation to bid for the world's No. 2 memory chipmaker Hynix Semiconductor, a source said. 'Aabar is fine-tuning investment details with STX and three or

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Korean firms eye $2.3bn Hynix stake

South Korea's SK Telecom and STX Corp entered the fray to buy a $2.3 billion stake in Hynix Semiconductor, raising hopes of a successful sale by creditors of the world's No. 2 computer memory chipmaker at the third attempt. SK Telecom, the

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Korean JV opens $70m RAK steel plant

SeAH Steel UAE, a joint venture between leading Korean firm SeAH Steel Corp and Ras Al Khaimah Investment Authority (Rakia), has announced the launch of its new $70 million steel pipe manufacturing facility in Ras Al Khaimah. Sheikh Saud b

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Qtel inks strategic 'Smart Cities' alliance

Qatar Telecom (Qtel) said it has joined hands with KT Corporation of Korea to develop joint solutions for the new generation of “Smart Cities” across the country. KT Corp is Korea's largest integrated wired/wireless communications ser

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Korean firm to pump $1.2bn into Osnan refinery

S-Oil, South Korea's third-largest refiner, plans to spend 1.4 trillion won ($1.2 billion) to expand its 580,000 barrels per day (bpd) Onsan refinery. 'The company has completed its alkylation project to produce eco-friendly produc

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