BSC & KFH to Build Danaat Baytik

    Eskan Properties Company BSC (c) signed an agreement with Kuwait Finance House (KFH-Bahrain) for the Development Management of Danaat Baytik apartment at Ishbiliya Village. Eskan Properties Company BSC (c) will be the development manager of the project. These apartment units will be marketed and sold to beneficiaries of government housing services and specifically those who qualify for the Ministry of Housing’s social housing financing service “Mazaya”. KFH-Bahrain will be the primary developer for the project, which will be occupying 27,142 sqm Eskan Properties Company have been assigned to manage the development of the project. KFH-Bahrain will be also provide special financing program to the beneficiaries.” Eskan Bank General Manager, Dr. Khalid Abdulla said: “This project comes as part of efforts by Eskan Bank and its subsidiaries, with the firm support of the Ministry of Housing, to provide efficient and suitable housing solutions for Bahraini families by utilizing the expertise and capabilities of the private sector and making them key partners. 


    Wärtsilä to Supply Two Gas Power Plants to Iran 

    The technology group Wärtsilä will supply engineering and equipment deliveries for two baseload power plants to Iranian energy companies Baran Niroo Beshel Co. and Tamin Niroo Saam Co. This is a breakthrough project as Wärtsilä is supplying the first decentralized power plants of its kind to Iran, showing results from our efforts to support the Iranian power generation market in its transition towards more flexible and smarter technologies. The larger plant with Baran Niroo Beshel Co. will be located in the city of Savadkoh in the Mazandaran province, and it will consist of three Wärtsilä 34SG engines with a combined output of 29 MW. The other power plant, located in the city of Tabriz, will consist of two Wärtsilä 34SG engines with a total output of 19 MW. Both plants together will serve approximately 100,000 households and other small industries in the area. The orders are booked in the second quarter of 2017, and the gensets are expected to be delivered during the third quarter of 2017.


    Solar Projects Provide Homes with Clean Energy

    Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has started construction on two of the largest solar PV projects in Jordan that will provide 80,000 homes with clean energy. The solar plants – called Mafraq I and Mafraq II - will generate approximately 2% of Jordan's total generation capacity, enough to supply more than 80,000 households. Totaling 133.4 MW DC, each project will avoid the emission of over 80,000 tons of CO2 per year, equivalent to removing approximately 17,000 cars from the country's highways. The projects will create an estimated 500 jobs during their construction and will supply power at USD6.9 and USD7.6 cents per kWh, respectively, prices below the average cost of electricity in Jordan. The announcement was marked by an event involving Dr. Ibrahim Saif, Minister of Energy and Mineral Resources, the Chairman of the National Electric Power Company (NEPCO) Eng. Khaldoun Qutishat, the former Minister Energy and Mineral Resources Dr. Hisham Elkhateb, the former Minister of Commerce and Industry Dr. Jawad Anani, FRV and Abdul Latif Jameel.  


    Mazaya complete 20% of Construction Work

     Al Mazaya Holding has announced that up to 20% of the construction work has been completed so far on its Mazaya Residence, the company’s maiden development in Muscat.
    Strategically located in Al-Seeb Province in the heart of the Omani capital, the landmark development targets Omanis as well as other GCC nationals as potential buyers. Construction work on the project’s foundation and basement, which spreads over 6,614 square meters, has been completed. It will help to start the main upper construction work and external structure. The project is due for completion during 2018. Since the project is progressing well, the company has started promoting the project in Oman and other markets in the region. Al Mazaya Holding has launched a Ramadan promotional campaign offering discounted prices and also attractive easy instalment plans for its 120 Mazaya Residence apartments and 28 retails shop. The project stands out as an attractive opportunity for different segments of society looking for the investment or own use. The mixed-use project is one of the important real estate developments in Oman that meets the divergent needs of all segments of society. 

    Saudi Arabia

    Sadara Expands Suite of Specialty Chemicals

    Sadara Chemical Company (Sadara), the largest chemical complex ever built in a single phase, announced the production of commercial quantities of butyl glycol ether (BGE), which will be refined into several specialty chemicals that Sadara will be producing in Saudi Arabia for the first time. CEO Ziad Al-Labban said: “This is yet another major milestone for Sadara made possible thanks to the dedication and hard work of the company’s highly-talented workforce. Over the next couple of months, we expect to start up our remaining manufacturing plants, steadily moving towards the realization of full operations.” Sadara’s BGE plant is one of the largest of its kind in the world. The single-train plant, one of 26 plants located in the company’s chemical complex in Jubail Industrial City II, will enable new manufacturing facilities to be established in Saudi Arabia, which will create new job opportunities for Saudis. The Sadara Butyl Glycol Ethers plant produces multiple grades of liquid derivatives including Butoxy Glycol Ether, Butoxy DiGlycol Ether, Butoxy Tri Glycol Ether and Butoxy Poly Glycol Ether. 


    Arabtec Construction Awarded Main Contract 

    The National Media Council (NMC), the government entity responsible for building and operating the UAE Pavilion at Expo 2020 Dubai, has announced that Arabtec Construction, a wholly owned subsidiary of Arabtec Holding has been awarded the main contract to build the national pavilion. Arabtec Construction squared off against three local and international companies in the final round with nine companies bidding initially. Further, world-renowned architect Santiago Calatrava has been chosen to design the pavilion, following a global design competition that saw nine of the top international architectural firms submit 11 designs centered on the concept of sustainability. The design submissions were evaluated based on specific criteria including the extent to which they were successful in representing the main theme of Expo 2020 Dubai, ‘Connect Minds, Creating the Future,’ and their ability to reflect the UAE's heritage, while achieving a balance between the nation’s past and future. Calatrava’s winning design draws inspiration from a falcon in flight. The UAE pavilion will be one of the most important landmarks at the Expo 2020 Dubai, reflecting the authenticity and heritage of the UAE, its achievements in various sectors as well as the nation’s values of openness, communication and tolerance, which are in line with the main theme of the exhibition.