Construction Industry News

Bahrain installs 5 MW solar plant

Bahrain installs 5 MW solar plant

11th July 2014

US-based Petra Solar and Caspian Renewable Energy have completed the installation of a 5MW solar plant at Manama’s Awali township in Bahrain. The plant is owned by Bahrain Petroleum Company (BAPCO) and is expected to deliver an excess of 8,000MW of clean energy. Adel Almoayyed, CEO of BAPCO, said, ”Being the first of its kind in the Middle East, the project will be a proud showcase. We expect that this will be the first step in Bahrain’s march towards a solar future.”[..]

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GDF Suez signs US$ 150 bn power & water purchase agreement for AbuDhabi Mirfa project

GDF Suez signs US$ 150 bn power & water purchase agreement for AbuDhabi Mirfa project

11th July 2014

GDF Suez recently signed the 25-year Power and Water Purchase Agreement (PWPA) for the Mirfa Independent Water and Power (IWPP) project with the Abu Dhabi Water and Electricity Company (ADWEC), the Single Buyer and Seller of Water and Electricity of Abu Dhabi. GDF SUEZ holds a 20% equity interest in the project with the remaining 80% held by Abu Dhabi Water and Electricity Authority (ADWEA).[..]

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Petrofac announces US$ 700 mn oil deal with KOC

Petrofac announces US$ 700 mn oil deal with KOC

11th July 2014

Petrofac, the international oil and gas services provider, has announced that it has won a US$ 700 million contract from Kuwait Oil Company. The project will be completed over a period of approximately three years and the scope of work includes the engineering, procurement, construction, pre-commissioning and commissioning of KOC's GC29 gathering centre.[..]

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Naseej launches sales of tier three of key Bahrain affordable housing project

Naseej launches sales of tier three of key Bahrain affordable housing project

11th July 2014

Bahrain developer Naseej announced the sales launch of tier three of the Al Madina Al Shamaliya (North Bahrain New Town) housing development. This new community offers Bahrainis exceptional value in terms of a great beachfront location, quality of construction, spacious living at affordable prices. It forms part of Bahrain's ground-breaking social and affordable housing public-private-partnership (PPP) between the Housing Ministry and Naseej.[..]

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Azizi relaunches two residential projects in Al Furjan

Azizi relaunches two residential projects in Al Furjan

10th July 2014

Azizi Developments has relaunched two of its residential projects in Al Furjan. The ground plus 11-storey structures — Yasamine and Feirouz — will entail a project cost of Dh 250 million.  “Our decision to relaunch Al Furjan projects is timely given the growth and potential returns any one person or organisation can gain from investing,” said Mohsen Kamel, CEO. “There was a delay in development projects during the economic downturn; however, even during the recession we ensured that financial investments in the properties made by customers were returned to them.[..]

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New Saudi company established specially to develop Madinah

New Saudi company established specially to develop Madinah

10th July 2014

Saudi Arabia has established a company with nearly SAR  2 billion (US$ 530 million) in initial equity to develop Madinah, the second holiest city in Islam.  The joint stock company, Al Maqar Development Company, will have  198 million shares in the form of assets. Each share will have a nominal value of SAR10 and all will be fully owned by the Madinah Mayoraltymadinah, local media reported.[..]

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Galfar awarded US$100 mn, 2005 oil production maintenance contract extension up to August 2015

Galfar awarded US$100 mn, 2005 oil production maintenance contract extension up to August 2015

10th July 2014

Oman-based contractor Galfar Engineering and Contracting Co has secured a US$ 100 million contract extension from Petroleum Development Oman (PDO) for its maintenance of oil production facilities in the north of the country. Galfar was originally awarded the contract for work on the north Oman off-plot delivery in May 2005 and was previously given a variation to contract (VTC) which extended its work with PDO until August 2014. The latest variation to contract (VTC) should it continue its work until August 2015, according to a statement from the company.[..]

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