Regional News

Bahrain-based Kanoo Automotive & Industrial Equipment (KAIE) has moved into a larger, custom-designed office to meet the increasing demand for its services and accommodate its ever-expanding products portfolio.

The greenfield Salalah 2 IPP (independent power project), with an aggregate capacity of 445 MW and an investment of $465 million, was inaugurated by Acwa Power in Salalah, Oman, last month.

Finland-based Kone Corporation has won an order for 72 elevators and escalators for Phase Four, the last phase to complete Msheireb Downtown Doha, a pioneering project developed to revive Qatar’s old commercial centre. Msheireb Downtown Doha is one of the world’s first sustainable downtown regeneration projects.

The total value of awarded projects in Kuwait fell by 28 per cent to KD4 billion ($13.3 billion) in 2017 as compared to the prior-year and below the five-year average of KD5 billion, said the National Bank of Kuwait (NBK) in its latest Economic Update.

Kuwait’s Public Authority for Housing Welfare (PAHW) has signed a KD28.99-million ($96 million) contract  with Turkey’s Limak Holding to construct and maintain 3,260 housing units and power stations, a media report said. The contract is for the South Abdullah Al Mubarak housing project, reported Kuwait News Agency (Kuna).

Iraq’s National Investment Commission (NIC) has been asked by the Iraqi cabinet to go ahead with a contract with Dubai’s Emaar Properties and Abu Dhabi’s Eagle Hills for the massive Al Rashid City project planned for Baghdad, a report said.

Oman-based S&T Investment Holding has unveiled a new mixed-use seafront development, offering over 25,000 sq m of leasing space for commercial, business, retail and F&B (food and beverages) outlets.

Kuwait is considering building a new $12-billion world-class mega airport to meet the rapid growth in air traffic, a senior official said.

My City Centre Sur inaugurated Dubai-based Majid Al Futtaim has opened My City Centre Sur, its first community mall in Oman. Built with an investment of RO15.2 million ($39.

Dynapa, a world leader for mobile compactors for road surfaces from Sweden and now part of France-based Fayat Group, has chalked out an aggressive growth plan for the region which includes the launch a new range of models in the light compaction segment.

Bahrain’s Electricity and Water Authority has launched an invitation for project proposals for the remediation of a landfill site in the kingdom and development of a solar photovoltaic (PV) plant on the site.  The solar IPP (independent power producer) project will produce at least 100 MW of power.