01 June 2018

J&P sells Jordan airport stake to pay its Saudi staff

J&P Overseas, a subsidiary of Cyprus’ construction industry flagship Joannou & Paraskevaides Group, has sold its stake in Jordan’s Queen Alia International Airport to pay the employees of its embattled subsidiary in Saudi Arabia, said a report.

In a paid advertorial in the daily Phileleftheros, the company said it has collected €120 million ($147 million) representing its share from the sale of Queen Alia airport in Jordan, and was now in a position to fund its subsidiary in Saudi Arabia, which was having problems paying its staff, reported the Cyprus Mail.

At the end of March, in a leaked letter addressed to the company’s director Andreas Papathomas, J&P Overseas (JPO) workers based in Saudi Arabia, including several dozen Cypriots, said that as a result of the company’s failure to fulfil its obligations to its staff, around 6,700 of them had to live under miserable conditions, as they lacked funds to even buy food, stated the report.

Workers said they had no access to water at the construction sites in the kingdom which in turn was affecting sanitation, said the Cyprus Mail report.

The workers complained that J&P Overseas had also failed to pay for the renewal of work permits and as a result workers risked imprisonment, it added.

 

 

HLG Contracting rebranded as BIC Contracting

HLG Contracting, one of the leading diversified international contractors in the Middle East, has announced its rebranding to BIC Contracting effective immediately.

The new name signifies its ongoing strength and commitment in building and infrastructure construction across the Middle East region, says the company.

BIC Contracting CEO and managing director Moustafa Fahour Oam says: “This new name signifies our company’s core strength and focus on being the building and infrastructure contracting company of choice, combining international expertise and local experience.”

“Refreshing our focus reflects our commitment to delivering strong outcomes for our clients and safe working environments for our people, as we look for opportunities that leverage our extensive track record and strong commitment to the region,” he adds.

 

 

 Mitsubishi Hitachi wins Cairo power station contract

Mitsubishi Hitachi Power Systems (MHPS) has signed a contract with Cairo Electricity Production Company (CEPC) for the renewal of the Cairo West natural gas and heavy fuel oil-fired thermal power plant.

As per the deal, MHPS will renew four existing power generation boilers with a rated output of 1,360 MW, extending their lifetime and enhancing reliability. The project will contribute to a more stable energy supply in Egypt.

The Cairo West power station is located around 16 km northwest of the Egyptian capital, and is operated by CEPC. The rehabilitation project was awarded to a consortium that included MHPS’ Egyptian subsidiary.

MHPS will manufacture the boiler components at its Kure Works in Japan, and its Egyptian subsidiary will dispatch the engineer for support of installation and trial operation, says Mitsubishi Hitachi.

The four existing boilers are two units rated at 330 MW supplied by MHPS in 1993, and two other 350 MW units supplied in 2011, it states.

The Cairo West power station is one of the mainstay facilities providing power to the capital where electricity demand is high, so a stable power supply is critical.

The renewal contract from CEPC follows the contract in August 2017 for upgrades to a natural gas-fired gas turbine combined cycle (GTCC) power station at the Cairo North facility.

 

 

Chinese groups win Iraq refinery contract

Two major Chinese companies –PowerChina and Norinco International – have won the contract to build an oil refinery at the Iraqi port of Fao on the Arabian Gulf, said a report.

 The refinery in Fao will have the capacity to produce 300,000 barrels per day and will include a petrochemical plant, reported Reuters, citing a senior official.

 Iraq is Opec’s second-largest oil producer, after Saudi Arabia. Its refining capacity was curbed when Islamic State overran its largest oil processing plant in Baiji, north of Baghdad, in 2014.

 The country now relies on the Doura refinery in Baghdad and the Shuaiba plant in the Basra region, it added.

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