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News in brief

01 September 2019

Germany’s ib vogt completes major Egypt solar project

Leading German project developer, investor and contractor ib vogt has achieved commercial operation (COD) of three solar power plants totalling 166.5 MWp, awarded under the second round of Egypt’s Feed-in Tariff (FiT) programme.

Adding to the 64.1 MWp project in operation since February 2018, ib vogt began commercial operation of three additional solar power plants totalling 166.5 MWp, says the company.

All projects are located in one of the largest photovoltaic (PV) installations worldwide, the Benban solar complex near Aswan, Egypt.

The PV plants “MMID 30”, “Phoenix 50” and “BSEP 50” extend over a combined area of 270 hectares, on which more than 500,000 solar panels were mounted on horizontal tracking systems.

Each year over 400,000 MWh of electricity is produced, enough to supply the demand of approximately 127,000 local households and save 178,000 tons of carbon dioxide emissions annually. The secured debt financing for these projects is $146 million.

The power generated is delivered to the Egyptian Electricity Transmission Company (EETC) on the basis of a 25-year power purchase agreement (PPA). ib vogt is acting as operation and maintenance (O&M) contractor for the facilities.

Gulf Dredging and General Contracting wins Kuwait tender

Heavy Engineering Industries and Shipbuilding (Heisco) says one of its subsidiaries, Gulf Dredging and General Contracting Company, has been awarded a tender worth KD5.7 million ($18.67 million) by Kuwait’s Electricity and Water Ministry.

Heisco is a major engineering, procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas, petrochemicals, power, pressure equipment manufacturing, shipbuilding and repair, dredging and marine construction, major civil construction, maintenance and other industrial services including heavy industry projects.

The company has a 99.92 per cent stake in Gulf Dredging and General Contracting Company.

The tender is in favour of Kuwait’s Electricity and Water Ministry, carrying a maturity period of 36 months, said Heisco in its filing to the Kuwaiti bourse.

The financial impact of the tender will be operating income that will be registered in the financial statements for fiscal years 2019 and 2020, it added.

Three60 Dubai wins KOA Canvas contract

Three60 Communities Dubai (Three 60 Dubai), a subsidiary of Eltizam Asset Management Group and a leading provider of management services to premium communities, has been awarded another contract with its appointment by KOA Real Estate Development as the Owners’ Association Management (OAM) company for its KOA Canvas in Dubailand.

The new contract is aimed at ensuring the provision of a wide range of comprehensive OAM services to the brand new super-premium apartment community constructed with the most advanced design technologies.

The Three 60 Dubai services for the development of KOA Canvas include: dealing with day-to-day administration and management of the community; facilities management supervision and contractual procurement; managing the common areas and overall community maintenance; handling the financial aspects of the community; and stakeholder relationship management.

Three60 Communities is responsible for over 75 communities in various emirates across the UAE and Oman, providing comprehensive OAM services to master communities, residential towers, commercial towers, mixed-use developments and villa communities.

Tafawuq introduces first boat to its Abu Dhabi fleet

Tafawuq Facilities Management, a subsidiary of UAE-based Eltizam Asset Management Group, has announced the addition of a boat to its growing fleet of vehicles in Abu Dhabi.

The introduction of its first waterborne vehicle allows Tafawuq’s operational teams to keep various locations on Reem Island free of any debris, including the surrounding waterways and mangrove areas.

The company recognises that mangroves are some of the UAE’s most sensitive natural habitats, being breeding grounds for fish, birds and other organisms as well as acting as a carbon sink, a statement said.

The new boat reinforces the company’s reputation of being able to consistently deliver world-class innovative and technology-driven facilities management services and provide tailored solutions for residential and commercial communities, healthcare facilities, individual homeowners, retail space, ports and aviation, and IT and data cenres.

The company services more than 200 clients and 10 million sq ft of real estate; managing an array of high-profile facilities including Marina Bay and Oceanscape.