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In the news this week
Abu Dhabi Future Energy Company Masdar, Infinity Power, and Hassan Allam Utilities signed a Land Access Agreement with the Egyptian Government for the consortium’s 10GW capacity onshore wind farm in West Suhag, Egypt. The project is set to be one of the largest in the world, with a project value exceeding US$10 Bn.
Khalifa Economic Zones Abu Dhabi, KEZAD Group, Golden Spike, and Wheat signed a 50-year land lease agreement to establish a bakery and sweets manufacturing facility in KEZAD. The 26,000 sqm facility in ICAD 3 will have a large production capacity to meet the UAE market’s requirements.
In Saudi Arabia, Shapoorji Pallonji won a design-and-build contract from Roshn for phase 2 of its flagship project, Sedra. The scope of work includes developing 429 single-family residential units.
Saudi Arabia’s National Housing Company (NHC) has awarded China Machinery Engineering Corporation (CMEC) a contract to construct 20,000 residential units. The project entails building different facilities, including medical care establishments, schools, and retail stores.
In Oman, South Korean GS Engineering & Construction Company announced that it had secured a US$1.7 Bn contract from Oman Power & Water Procurement Company (OPWP) to build a desalination facility in Muscat.
Under this contract, GS Inima will have the rights to operate the desalination facility for 20 years after completion. The facility will have a capacity of 300,000 tonnes per day of drinking water.
Saudi Real Estate Infrastructure Company (Binyah) won a US$142 Mn contract for a car park within the Diriyah Gate development in Riyadh. Binyah will implement excavation works related to its Car Park A and B projects.
Qatar Free Zones Authority (QFZ) and Evonik, a leading specialty chemicals company from Germany, signed an MoU on the sidelines of QFZ’s participation in Qatar Economic Forum 2024. Potential future investments will take place in Umm Alhoul free zone in Qatar.
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