Industry News
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GE, Al Tamimi in heat exchanger JV
Sunday, February 7 2010
Saudi-based Ali Abdullah Al-Tamimi Co has formed a joint venture with GE Oil and Gas to manufacture air-cooled heat exchangers in the kingdom for use in the oil and gas industry, Arab News has...
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Faqeeh Poultry to invest SR3bn in expansion
Sunday, February 7 2010
Saudi Arabia's Faqeeh Poultry Farms, the world's largest individually-owned poultry farm, has announced plans to invest more than SR3bn, as part of a plan to boost production over the...
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Yanbu to distribute 2009 dividend
Sunday, February 7 2010
Saudi Arabia's Yanbu Cement Co has announced that shareholders will receive a SR3 dividend for 2009, Reuters has reported. The total dividend payout, which will be paid after a...
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Dubal posts aluminium sales up by 8.7% in 2009
Saturday, February 6 2010
State-owned Dubai Aluminium Co (Dubal) has reported an 8.7% rise in year-on-year sales for 2009, on higher regional demand, Reuters has reported. Dubal sold 1 million tonnes of aluminium in 2009,...
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National Marine okays $107m bond offering
Thursday, February 4 2010
A plan to offer Dhs391.5m ($107m) in convertible bonds has been approved by the board of the UAE-based National Marine Dredging Co, Bloomberg has reported. The bonds will be converted at Dhs7.83...
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Egypt predicts $15.5bn investments in industrial zones
Thursday, February 4 2010
The Egyptian trade ministry has said that it expects to attract EGP85bn ($15.5bn) of investments in the country's new industrial zones, Reuters has reported. The ministry will tender 42...
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Saudi Cable wins SR100m contract
Wednesday, February 3 2010
Saudi Cable Co has said it has won a SR100m contract to supply and install high voltage cables for a project in North Jeddah, Reuters has reported. The contract, offered by Saudi Electricity Co, is...
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No ban on dairy exports, says Saudi Arabia
Wednesday, February 3 2010
The Saudi government will not implement a recommendation by the kingdom's Shura Council to ban dairy exports, Reuters has reported. The council recommendation was based on the kingdom's efforts to...
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Daimler inks partnership deal in Iraq
Wednesday, February 3 2010
Iraq's State Company for Automotive Industry has signed a partnership agreement with German automaker Daimler for the supply of complete Mercedes-Benz trucks and assembly kits. Under the deal,...
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Maaden to launch smelter financing deal
Tuesday, February 2 2010
Saudi Arabian Mining Company (Maaden) is planning to launch the financing deal for its $7bn aluminium smelter in the second quarter of 2010, according to bankers close to the project, Meed magazine...