Work to start on new tower
Construction of the Diplomat Residential Tower in Bahrain, which should be open for business by 2005, is expected to begin next year, it was reported.
The BD6.5 million ($17.25 million) project was announced in February and was approved last month at Bahrain's National Hotels Company's (NHC) annual general meeting.
The next step is to select a project consultant, with construction tenders to be invited by early next year, said chairman Ahmed Zayani.
Work is expected to begin in the summer. The 14-storey apartment complex, to be built north of the Diplomat Radisson SAS Hotel in Manama, will offer residents access to the facilities at the hotel.
The tower will feature 78 one-bedroom, 26 two-bedroom, and 13 three-bedroom units. A luxury penthouse will occupy the 14th floor.
The proposed residential tower comes amidst the beginning of a BD1 million hotel upgrade and facelift, which includes remodelling all guest rooms, the health club and gymnasium, food and beverage outlets and the lobby.
Kuwait approves water pipeline
Kuwait: Kuwait has moved a step closer to importing water by pipeline from Iran in a $2.5 billion project.
Electricity and Water Minister Talal Al Ayyar said his ministry had approved the project and was now awaiting a green light from the cabinet to initiate formal negotiations with Iran, news reports said.
The ministry has approved technical aspects of the project, he said. The plan was technically feasible but financial terms remain to be discussed to determine the economic feasibility.
An Iranian-British-Kuwaiti consortium is in the running for the project to pump fresh water to Kuwait's Bubiyan island and lessen reliance on the emirate's costly desalination plants.
Egypt expo firm in expansion
Cairo: The Egyptian General Organisation for International Exhibitions and Fairs (EGOIEF) is to build two new hotels and upgrade its facilities under an expansion worth a billion Egyptian pounds ($238.53 million).
The projects will help consolidate Cairo's position in the Middle East exhibitions market, a company official said. The projects, which will be implemented with aid from Japan, involve construction of the hotels under a build-operate-transfer (BOT) agreement, upgrading its existing exhibition facilities and building a theatre with a capacity to seat 5,000.
All the projects are to be completed by 2005.
The company staged 100 events last year and reported a profit of E£7 million.
