Regional News

The construction sector in the Middle East and North Africa (Mena) region will face a downturn in 2020 over soaring Covid-19 cases in the region and slump in oil prices, according to leading data and analytics company GlobalData.  The construction output growth forecast has been revised to -0.

Saudi-based Acwa Power said its consortium with Gulf Investment Corporation (GIC) and Alternative Energy Projects Company (AEPC) has achieved the financial closure for the 500 MW Ibri II solar project in Oman.

As the world faces an unprecedented crisis, companies across the globe are taking measures to revamp their business models, strategies and processes in an effort to maintain an efficient workflow for their customers and stakeholders.

Hill International, a global leader in managing construction risk, said it has secured a contract to provide project management services for the Arab African International Bank for its new headquarters project in New Cairo, Egypt.

Work will start this month on the new exhibition and convention centre, being built at an investment of BD83.6 million ($220 million) next to the Bahrain International Circuit in the Sakhir area of the kingdom, reported the Gulf Daily News, our sister publication, citing the Industry, Commerce and Tourism Minister Zayed Alzayani.

Bahrain’s Cabinet has decided to reduce the operational expenses budget for ministries and the government by 30 per cent unless public interests require otherwise.

Egypt has announced the completion of the world’s biggest agricultural drainage treatment project – Al Mahsamma agricultural drainage treatment, recycling and reuse plant – in Ismailia governorate at an investment of $100 million.

Netherlands-based Spierings Mobile Cranes has appointed Kanoo Cranes, a division of The Kanoo Group, as the exclusive dealer for its mobile tower cranes, in the UAE, Saudi Arabia, Oman and Bahrain. As per the deal, all sales activities for new models and aftermarket service will now be managed by Kanoo Cranes in these markets.