February 22nd, 2019 | 0 commentsThe Administrative Capital for Urban Development (ACUD) has signed an agreement with the US’ Honeywell to develop public safety and security infrastructure in Egypt’s new capital. The North Carolina-based company will install security and surveillance systems in the Administrative Capital, according to a company statement released on Thur...
February 21st, 2019 | 0 commentsDubai Investments on Wednesday announced that its subsidiary Dubai Investments Real Estate Company (DIRC) has completed 25% of the new residential tower at Al Barsha 1. The company noted that excavation and substructure work on the project was already 100% complete, according to a filing to the Dubai Financial Market (DFM). Spread over an...
February 20th, 2019 | 0 commentsThe UAE armed forces has signed AED 514.8 million ($140.17 million) defence contracts on Tuesday at the International Defence Exhibition and Conference (IDEX 2019). The deals were closed with international companies, the UAE army’s spokesperson Brigadier General Mohammed al-Hassani said. Another AED 4.3 billion contracts inked with Emirat...
February 19th, 2019 | 0 commentsEgypt’s Arab Contractors is looking to raise its Africa business volume to EGP 1 billion ($57.2 million) within 2019, head of African sector in the firm said. This is part of the company’s plan to compete for executing various infrastructure projects in some of the African states, Amwal Al Ghad reported, citing Ibrahim Mabrouk. “We are cu...
February 18th, 2019 | 0 commentsSaudi Arabian General Directorate for Water Services in Jazan city on Sunday has said that it launched the second phase of water purification plant of Bish dam. This phase is currently producing around 20,000 cubic metres of purified water per day, while it will rise gradually to reach 75,000 cubic metres on a daily basis, the director ge...
February 17th, 2019 | 0 commentsMisr Cement (Qena) (MCQE) announced in a statement sent to EGX, the audited financial results for the fiscal period starting January 1, 2018, and ending December 31, 2018. The company posted consolidated net profits of LE104,396,806, against net losses of LE14,494,730 in the same period a year ago, taking into account the minority rights....
February 15th, 2019 | 0 commentsSaudi Arabia’s King Salman bin Abdulaziz Al Saud has uncovered plans to pump around $22 billion (SAR 82.51 billion) in investments across 1,281 projects in Riyadh to improve amenities, education, and infrastructure during the coming period. The potential investments will include carrying out 16 educational projects, added to 15 in the hou...
February 14th, 2019 | 0 commentsAl Salam Group Holding announced that its subsidiary was awarded a tender valued at KWD 7.83 million ($25.8 million), according to a bourse statement on Wednesday. The 51%-owned unit Al Sari National General Trading and Contracting won the tender for a duration of five years. A return of 10% is expected to be realised from this tender, Al...
February 13th, 2019 | 0 commentsSouth Korea’s Daewoo Engineering and Construction (Daewoo E&C) on Tuesday announced completing a $200 million dual-tranche (conventional and Islamic) syndicate term facility. The facility was signed on 30 January, according to Daewoo's statement. “The transaction was initially launched at $100 million, which got oversubscribed by two...
February 13th, 2019 | 0 commentsArkan Building Materials (Arkan) on Tuesday announced that its board has nodded to permanently shut down Emirates Cement Company located in the city of Al Ain. In 2018, the company also announced a tender for the sale of the cement facility on the back of exploring all available avenues to dispose of the assets, according to a filing to t...
