Aluminium Bahrain (Alba) has received shareholder approval for its Line 6 expansion project which will cost $3.5 billion and make it the world’s largest single site smelter. Line 6 is expected to begin production in early 2019 and will boost annual production capacity by 514,000 tonnes, taking the total to approximately 1.45 million tonnes.
Asry, the leading ship and rig repair yard in the Arabian Gulf, has signed an agreement with the Bahrain Coast Guard to design and construct a new landing craft for the transport of vehicles, potable water, and fuel. The craft, potentially the first of two, will be delivered in 2016. The contract, worth approximately $2.
Dubai generated trade worth Dh44.37 billion ($12 billion) in 2014 with Japan as the top source of imports, followed by South Korea and Japan. The emirate, which has a brisk export and re-export trade, counted Saudi Arabia, Iraq and Afghanistan as the top three destinations of auto parts.
Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the sector caused by the lower oil price, its chief executive told Reuters.
An investment review at Qatar’s wealth fund could lead to a cut in money allocated to the mining sector, potentially hitting ventures such as QKR Corp, according to five sources familiar with the matter, says Reuters.
Petrochemical plants in the Gulf are working at reducing emissions in a bid to combat climate change, according to a senior official of a representative body. Dr Abdulwahab Al Sadoun, secretary general of the Gulf Petrochemicals and Chemicals Association (GPCA), said plants in the region were aware of the harmful effects of global warming.
Mubadala GE Capital, a joint venture between the Abu Dhabi state-owned fund and General Electric’s finance business, is evaluating options for the future structure of the company, said a spokesman recently.
The UAE’s National Drilling Company (NDC) has signed three key contracts worth $543 million to buy 14 new rigs, state news agency WAM reported. One offshore and an onshore rig, worth $203 million, will be built in the UAE, it said, quoting the company’s chief executive Abdullah Saeed Al Suwaidi.
Majid Al Futtaim, the Dubai-based conglomerate best known for its interests in the Middle East’s shopping mall, retail and leisure establishment sectors, is helping Dubai become one of the top 10 sustainable cities in the world by 2020, says the Arab Organisation for Social Responsibility.
A joint venture formed in Qatar will offer a range of environmental services and help implement the Qatar National Vision 2030 with regards to striking a balance between development and preservation of natural resources.
The UAE is giving robotics research and innovations a shot in the arm with the announcement it has instituted an award. It has launched a $1 million prize to be awarded to individuals, teams, universities and companies from the region and around the world who come up with innovative solutions with civilian applications.
Dafza team honoured The Dubai Airport Free Zone Authority (Dafza) has been declared the ‘IMA Middle East Finance Team of the Year 2015’ by the Institute of Management Accountants, the global association of accountants and financial professionals. The award recognises the team’s contribution to the success of the free zone.
Dubai generated trade worth Dh44.37 billion ($12 billion) in 2014 with Japan as the top source of imports, followed by South Korea and Japan. The emirate, which has a brisk export and re-export trade, counted Saudi Arabia, Iraq and Afghanistan as the top three destinations of auto parts.
