KFH supports Banader Hotels project
KUWAIT Finance House (KFH) – Bahrain, a provider of Islamic banking services, has signed a BD18-million ($47.5 million) project finance deal with Banader Hotels. The financing deal will provide the funding to complete the construction work at the Banader Rotana Hotel project in Manama, Bahrain.
Banader Rotana Hotel is a 28-storey five-star hotel and furnished apartments consisting of 251 rooms which include 46 deluxe rooms and 24 private suites.
L&T wins $352m Oman contract
ENGINEERING and construction major Larsen and Toubro (L&T) has won a $352.25 million contract from the Oman government for the construction of Al Batinah Expressway Package Four.
The project involves building a 50-km four-lane dual carriage expressway, two grade-separated interchanges, seven overpasses, five bridges and cross drainage work.
The project is expected to be completed in three years.
Ibn Sina to set up plastics facility
SAUDI-BASED National Methanol Company (Ibn Sina) has awarded a contract for setting up a polyoxymethylene (Pom) plant that is expected to have an annual capacity of 50,000 tonnes.
Ibn Sina, an affiliate of Sabic (Saudi Basic Industries Corporation), has awarded the engineering, procurement and construction (EPC) contract to an international company, bringing the company closer to producing high strength, low friction engineering plastic, in support of Saudi Arabia’s vision to expand and diversify its manufacturing sector.
The engineering plastic facility is an expansion of Ibn Sina’s existing operations, and is a joint venture between Sabic and CTE, a company owned by the US specialty materials company, Celanese Corporation and Duke Energy.
Pilgrim city on way
SAUDI Arabia will develop a city with modern facilities in Makkah to serve pilgrims, a report said.
The city will feature offices for foreign Haj missions as well as services required by pilgrims, said a report in Arab News. Housing, offices of Umrah companies, museums, exhibition venues and heritage markets will be part of the city, the report added. The city will be built on the lines of the recently announced 1.6-million-sq-m pilgrim city in Madinah, it said.
Clock Tower homes handover starts
EMAAR Middle East has begun handing over Saudi Arabia’s first five-star serviced apartments in Emaar Residences at the iconic Makkah Clock Tower.
Located directly on the Haram Plaza, the 316 elegantly designed and serviced apartments offer breath-taking views of the Holy Kaaba, Haram, and Makkah.
The luxurious Emaar Residences are located on levels 30 to 41 of the Fairmont Hotel tower.
Distributors visit Terex facility
MORE than 100 Terex distributors and customers from around the world gathered at Motherwell in Scotland – the home of Terex trucks – to learn more about the global manufacturer’s earthmoving machines.
Visitors from Africa, Asia, Europe, Russia and the Middle East toured the Terex facility which has been manufacturing trucks for more than 60 years.
They witnessed sheets of metal transformed into rigid and articulated dumptrucks, some of which have payloads of up to 100 tonnes.
Delegates also had the opportunity to operate the TA300 and TA400 articulated trucks and were also given walk-around presentations on both articulated and rigid trucks to help them understand the unique features that make Terex trucks so productive for their owners.
General manager of the facility, Paul Douglas, said: “There have been a lot of changes over the past few years in both the development of our trucks and the factory, including a recent $5 million investment in manufacturing equipment.”
Orascom to execute $420m projects
ORASCOM Construction Industries (OCI) subsidiary, Orascom Saudi Limited Company has negotiated infrastructure contracts worth $420 million in Saudi Arabia for projects located in several parts of the country.
“These contracts reflect the OCI construction group’s on-going commitment to expand its Saudi Arabian operations,” said Osama Bishai, OCI construction group’s chief operating officer, adding, “We are well positioned to continue to grow our Saudi Arabian backlog by capitalising on our strong track record in executing large-scale infrastructure projects in Saudi Arabia.”
OCI, which is currently executing projects worth approximately $790 million in Saudi Arabia, expects to formally sign the contracts shortly.
Bechtel wins petrochem plant deal
BECHTEL has been selected by the joint venture of Qatar Petroleum (QP) and Qatar Petrochemical Company (Qapco) to provide project management services for construction of the Al Sejeel mega-petrochemical complex in Ras Laffan, Qatar.
Bechtel will provide project management services over the course of the project starting with the front-end engineering design phase to ensure the quality, safety, and timely construction of the project. The complex, which will be operational in 2018, will include an ethylene cracker with the feedstock coming from natural gas projects located in the north of Qatar. It will produce ethylene, high-density polyethylene, linear low-density polyethylene, polypropylene, and butadiene.
Bechtel has built or managed signature petrochemical projects for Borouge in the UAE and for Chine National Offshore Oil Corporation (CNOOC) and Shell in China.
