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In the news this week
Qatar Energy announced that its affiliate QatarEnergy Renewable Solutions has awarded a US$632 Mn EPC contract for its Industrial Cities (IC) solar power project to Samsung C&T. The project consists of two large-scale photovoltaic solar power plants with a combined capacity of 875MW and is Qatar’s second utility-scale solar project.
In UAE, Aldar Properties announced the launch of Yas Park Gate, its latest gated community in Abu Dhabi. Construction of Yas Park Gate is due to begin in Q1, 2023, with handovers expected to commence in Q1, 2026. The US$313 Mn residential development will feature 508 new homes spanning over 255,000 sq.m.
Also, in UAE, Fakhruddin Properties has launched its latest residential project, the Maimoon Gardens in Jumeirah Village Circle, with a promise of the “cleanest air in Dubai” for its homeowners. Using 2 air technologies developed by NASA, the developer promises Indoor Air Quality of the highest standards in each apartment and special smart home automation with world-class amenities. Maimoon Gardens will include two towers that feature studio, one-bedroom, two-bedroom, and three-bedroom apartments.
In Bahrain, The Avenues Company announced the appointment of Nass Group as the main contractor for the construction of The Avenues – Bahrain Phase II expansion project. The extension will add an additional 41,200 square meters of leasable space to the development. Construction is scheduled to commence in September 2022 with completion expected in the first quarter of 2024.
Saudi Arabia’s Alfanar Construction announced that it has signed an MoU with the General Authority of the Suez Canal Economic Zone, The Sovereign Fund of Egypt, Egyptian Electricity Transmission Company (EETC), and New and Renewable Energy Authority NREA-eg, to jointly develop a Green Hydrogen facility in Sokhna, Egypt.
The estimated $4 Billion project will be powered by renewable energy sources and will have an annual production capacity of 100,000 tons of green hydrogen and 500,000 tons of green ammonia.
In Egypt, Maersk and the Suez Canal Authority (SCA) signed a $500 million deal for the development of the Suez Canal Container Terminal (SCCT) in East Port Said. The investment will include a new 1,000-meter container berth adjacent to the existing 500-meter berth, as well as additional cranes to bring the total to 30, all powered by electricity instead of diesel.
Also in Egypt, Anchorage Investments has shortlisted four international contractors for the second phase of the EPC tender on the Anchor Benitoite project. The 2 billion dollar project comprises a chemicals complex built in the General Authority’s industrial zone for the Suez Canal Economic Zone in Egypt.
The four shortlisted companies are Hyundai Engineering & Construction Co., Samsung Engineering Co., Technip Energies and Tecnicas Reunidas.
