Bahrain has successfully launched the second phase of the colossal Al-Dur 2 Independent Water and Power Project (IWPP), valued at $1 billion. The new plant is an extension of Al Dur Phase 1 and features a power generation capacity of 1,500MW and a desalination capacity of 50 million imperial gallons per day (MIGD). It marks […]
Author Archives: Baset Asaba
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Shell awards contract to Worley for major global projects
Shell has awarded Worley an enterprise framework agreement (EFA) to support Shell’s projects worldwide. Worley announced in a statement that the EFA will be effective for three years, with options for two additional one-year extensions. The agreement encompasses a wide range of services, including engineering, procurement, and integrated project management, for all of Shell’s businesses. […]
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UAE makes new updates for Dubai residents staying abroad for over 6 months
The Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP) has clarified the latest updates regarding the permit for UAE residents who stay outside the country for more than six months, according to a report by Arabic daily Emarat AlYoum. According to the ICP, Dubai residents are not included in this permit. The […]
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Qatar reports trade surplus of $6 billion in April 2023
Qatar’s Planning and Statistics Authority released a report highlighting a trade surplus of 22 billion Qatari riyals ($6 billion) in April 2023. This represents a 3.5% increase compared to the previous month but indicates a decline of 35.6% on an annual basis. During the same period, the value of merchandise imports dropped by 6.3% year-on-year […]
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Saudi Arabia’s PIF launches $3 billion unit to drive investment in Iraq
A new company has been carved out of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), to target multi-billion investments across industries in Iraq. With a staggering capital of $3bn, the newly formed Saudi-Iraqi Investment Company is part of PIF’s ambitious strategy to expand its investments in the Middle East and North Africa. […]
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ENGIE expects financial close on $800 million water project soon
International water and power developer ENGIE expects to achieve financial close for the Mirfa 2 seawater desalination project in the coming weeks, a senior company executive has revealed. ENGIE recently won a tender to develop and operate the Mirfa 2 Project, valued at $800 million and with a daily water production capacity of 20 million […]
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ADNOC Drilling allocates $75 million for six additional hybrid-power land rigs
ADNOC Drilling Company has signed a $75 million agreement for the purchase of six newbuild hybrid power land rigs, the company revealed in a statement. Honghua Golden Coast will build the rigs and will progressively enter the fleet from the second quarter of 2024, with partial revenue and EBITDA contribution from 2024 and full year […]
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UAE commits $275 million for landmark nuclear energy initiative
UAE has pledged its support, along with partners from the US, Japan, and South Korea, to invest up to $275 million in nuclear energy project in Romania. The UAE’s contribution, facilitated by the Emirates Nuclear Energy Corporation (ENEC), will be directed towards the deployment of a NuScale Small Modular Reactor (SMR) in Romania. Leveraging its […]
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UAE consortium to build multi-billion dollar desalination project
Together with ADNOC and TAQA, the Orascom Construction-led consortium will develop, own, and operate the plant
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ADNOC, TAQA award $2.4 billion massive water project
ADNOC and TAQA have awarded a strategic investment project worth up to $2.4 billion for a major desalination plant to support ADNOC’s onshore operations, a press statement has revealed. The project entails the development of a state-of-the-art seawater treatment facility and a transportation network that will serve the Bab and Bu Hasa fields in Abu […]
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