MEED Middle East Economic Digest articles from June 2008

MEED Middle East Economic Digest archives from June 2008

China Harbour and Hyundai bid for Ras al-Zour plant.(Project news on MEED.com)(China Harbour Engineering Company)(Hyundai Heavy Industries)(Brief article)
June 6, 2008... [ILLUSTRATION OMITTED] China Harbour Engineering Company and South Korea's Hyundai Heavy Industries have submitted bids for the 2,400MW Ras al-Zour captive power plant project in Saudi Arabia. The 54-month contract includes a 3.4...

Partners to start work on Materials City.(Project news on MEED.com)
June 6, 2008... A local/French joint venture of Fibrex and Thinet Emirates is to go ahead with a road construction contract at Building Materials City in Abu Dhabi.

Kuwait awards substation contract.(Project news on MEED.com)
June 6, 2008... The local Al-Ahlea Electric Boards Company has been awarded the contract to supply and install five substations at Jaber al-Ahmed.

Dewa agrees sukuk pricing.(Project news on MEED.com)
June 6, 2008... Dubai Electricity & Water Authority (Dewa) has completed a AED2.75bn ($749m) sukuk issue at 125 basis points over the Emirates interbank offered rate (Eibor).

Boost for North Africa fertiliser production.(Project news on MEED.com)
June 6, 2008... Morocco, Algeria and Libya have signed agreements to substantially increase their fertiliser and ammonia production capacity.

Occidental receives approval for Qatar oil field.(Project news on MEED.com)
June 6, 2008... Occidental Petroleum has received approval from Qatar Petroleum for the third-phase development of the Idd al-Shargi north dome.

Oman to retender bitumen plant.(Project news on MEED.com)
June 6, 2008... The contract to build a bitumen plant at Sohar refinery could be retendered after only one bid was made by the 2 June deadline.

Building tall 2008.(CONFERENCES)(Calendar)
June 6, 2008... Designing and engineering tall towers 9-11 June Park Hyatt Hotel, Dubai, UAE www.meed.com/events/buildingtall The Middle East's tall-building boom is providing unprecedented opportunities for the world's contractors, developers,...

The Gulf needs to invest In district cooling.(THE LAST WORD)(Brief article)
June 6, 2008... [ILLUSTRATION OMITTED] District cooling saves energy for the same reason that big power stations are better than small ones. The Gulf could save the equivalent of $3bn each year by meeting half its air-conditioning needs with district...

MEED projects.(Statistical table)(Brief article)
June 6, 2008... MEED PROJECTS GULF PROJECTS ($m) 2 June 27 May % change 1 June % change 2008 2008 on week 2007 on year Bahrain 34,777 33,777 3.0 ...

The Gulf needs to raise taxes.(ECONOMY)
June 6, 2008... The UAE is to lead other GCC states with a tax on goods and services Consumers will pay to ensure that the Gulf economies remain attractive [ILLUSTRATION OMITTED] Governments around the world have been lowering corporate tax rates...

Market is ripe for regulation: although Abu Dhabi's development is managed by the masterplan and the Urban Planning Council, the sales process is less controlled.(REAL ESTATE)
June 6, 2008... After three years of talking the market up, the Abu Dhabi real estate sector is finally able to rival Dubai. But with that success comes challenges, and there are still areas where it will need to follow the path set by its northern neighbour....

Open-skies deal will benefit many: the discomfort of a few airlines should not be allowed to hinder the benefits of an open-skies accord.(AVIATION)(Brief article)
June 6, 2008... Middle East airline executives were among the few to voice any positive opinions at the annual meeting of the International Air Transport Association (IATA) in Istanbul in early June. Soaring fuel prices have prompted a global crisis in...

Downstream drive is way forward: a willingness to co-operate is a sign that Libya, Algeria and Morocco are taking the need to plan seriously.(PETROCHEMICALS)(Brief article)
June 6, 2008... [ILLUSTRATION OMITTED] Libya, Algeria and Morocco are not well known for their mutual co-operation, but they appear to have found a common interest in developing their industrial bases. Tripoli and Rabat this week signed a memorandum...

Gas cartel faces huge challenges: without clear aims and intentions, gas producers' hopes of creating a credible cartel will come to nothing.(GAS)(Brief article)
June 6, 2008... When Iran floated the idea of creating a gas cartel early last year to operate in a similar fashion to Opec, gas importers around the world feared the worst. They need not have worried. The idea that countries as disparate as Malaysia,...

Airlines call for 'open skies' agreement: deregulated market would allow access to any airport in the region and potentially boost passenger traffic.(TRANSPORT: REGIONAL)
June 6, 2008... Senior aviation industry figures are pushing for an open-skies deal across the Middle East within five years, allowing airlines unrestricted access to any airport in the region and potentially giving a massive boost to passenger traffic. ...

Gulf banks make provisions for further sub-prime losses: Kuwaiti and Saudi institutions set to be worst affected when results are reported.(BANKING & FINANCE: REGIONAL)
June 6, 2008... Gulf banks are expected to significantly increase the provisions made for sub-prime assets in the coming months, with Kuwaiti and Sandi institutions likely to be most affected. Gulf Investment Corporation (GIC), the Kuwait-based investment...

Gas producers delay meeting over cartel.(ENERGY: REGIONAL)(Brief article)
June 6, 2008... Iran, Qatar and Russia have delayed a meeting of the Gas Exporting Countries Forum, following a failure to agree on a charter and a set of common goals for a proposed new gas cartel. The three countries, which between them control the...

Three-year tenders delay road projects: contractors complain that 36-month timeline regardless of scale or complexity slows progress on schemes.(CONSTRUCTION: SAUDI ARABIA)
June 6, 2008... Road projects in Saudi Arabia are being delayed because of Riyadh's insistence on a three-year fixed timescale for all tenders regardless of the scale or complexity of the work required, according to contractors. While the government's...

Aramco set to award $3bn worth of Manifa oil field deals.(ENERGY: SAUDI ARABIA)
June 6, 2008... Saudi Aramco is poised to formally award $3bn worth of deals on its 900,000-barrel-a-day (b/d) Manifa oil field development as part of its bid to increase production capacity to 12.5 million b/d by next year. Italy's Snamprogetti, Japan's...

Aramco shortlists bidders for $6bn worth of Jubail deals: state oil giant to issue invitations to 12 firms ahead of meetings in Rome.(ENERGY: SAUDI ARABIA)
June 6, 2008... Saudi Aramco has drawn up a shortlist of prequalified contractors to bid for nearly $6bn worth of construction work on its planned 400,000-barrel-a-day (b/ d) Jubail export refinery, following its decision in May to proceed with the investment....

Airline seeks Dreamliner compensation.(TRANSPORT: JORDAN)(Royal Jordanian Airlines)(Brief article)
June 6, 2008... Royal Jordanian has confirmed it will seek financial compensation and replacement planes from Boeing because of delays in the delivery of the 787 Dreamliner aircraft it has ordered. Jordan's recently privatised national airline has 14 of...

Gulf Air targets 10 per cent growth rate: national carrier sets ambitious goal as part of five-year expansion plan, despite soaring fuel prices.(TRANSPORT: BAHRAIN)
June 6, 2008... Gulf Air is aiming to grow by 8-10 per cent a year, as part of an ambitious expansion plan to be presented to the Bahraini government in the coming weeks. The kingdom's national carrier is still burdened by heavy losses, which have been...

Petrofac in line for Mina al-Ahmadi gas pipeline contract.(ENERGY: KUWAIT)(Brief article)
June 6, 2008... UAE-based Petrofac International is favourite to win the contract to build a major gas pipeline for Kuwait Oil Company (KOC), after submitting the lowest bid of KD147m ($544m). Unofficial bid opening results, following submissions on 3...

Fresh power tender raises doubts over Mabar project: new plant has backing of the World Bank and could replace existing scheme.(POWER: YEMEN)
June 6, 2008... Doubts have been raised over the future of the Mabar independent power project (IPP) in Yemen, after the government announced plans to issue a tender for a further IPP. The move is an attempt by Sanaa to resume its ailing IPP programme....

Adac finalises shortlist for airport work.(CONSTRUCTION: UAE)(Abu Dhabi Airports Company)(Brief article)
June 6, 2008... Abu Dhabi Airports Company (Adac) has shortlisted three companies for the build-operate-transfer contract for the midfield terminal on the $6.8bn redevelopment of Abu Dhabi International Airport. The companies are France's Aeroports de...

Amman to sign nuclear deal with US: further accords with Russia and China will pave the way for $10bn investment programme.(POWER: JORDAN)
June 6, 2008... Amman is close to agreeing deals on nuclear co-operation with China and the US, with agreements due to be signed in July, according to the country's nuclear chief. The accords, which will be followed by four other intergovernmental...

Abu Dhabi awards Ruwais study.(PETROCHEMICALS: UAE)(Brief article)
June 6, 2008... Abu Dhabi Polymers Company (Borouge) has awarded Australia's WorleyParsons the contract to undertake a feasibility study for the third-phase expansion of its multi-billion-dollar Ruwais olefins complex. Under the contract, which is...

Gasco names prequalifiers for $5bn offshore capacity boost: European, Japanese and US contractors invited to bid on four key packages.(ENERGY: UAE)(Abu Dhabi Gas Industries Company)
June 6, 2008... Abu Dhabi Gas Industries Company (Gasco) has drawn up the prequalification shortlist for four of the main process packages on its $5bn-plus integrated gas development, which is aimed at producing and processing more than 700 million cubic feet...

Iran Air drops plans to buy Russian aircraft over cost fears.(TRANSPORT: IRAN)
June 6, 2008... Iran Air has abandoned plans to update its fleet with new Russian Tupolev aircraft, after deciding that the move is not cost-effective. The Islamic republic's national carrier announced plans late last year to buy up to 35 Russian-made...

Dow to press on with regional projects: US chemicals giant is proceeding with all three of its major schemes despite rising construction costs.(PETROCHEMICALS: SAUDI ARABIA)(Dow Chemical Co.)
June 6, 2008... The US' Dow Chemical Company is proceeding with all three of its major projects in the region, despite rising construction and material costs and a sustained liquidity crunch. Dow has projects planned in Saudi Arabia, Libya and Oman, in...

Muscat to issue tenders for Al-Ghubrah advisory work.(POWER: OMAN)(Oman Power & Water Procurement Company )(Brief article)
June 6, 2008... Oman Power & Water Procurement Company (OPWP) is to issue tenders for the advisory contracts on the planned Al-Ghubrah independent water and power project (IWPP) in July. The 600MW plant will be built on the same site as an existing 450MW...

Increasing the tax burden: as Gulf governments prepare to introduce VAT, the region's reputation as a tax haven is being eroded.(ECONOMY)(Cover story)
June 6, 2008... If the Gulf has a reputation for one thing that is worth protecting, it is as a tax haven. Expatriates have been lured to the region with the promise of a life free from income tax, sales tax, and more, for decades. But that is changing....

Assem Ragab: chairman, Gafi: the chairman of the General Authority for Investment & Free Zones on Egypt's strategy to attract investors.
June 6, 2008... When oil majors responded to the ending of tax breaks in May by threatening to cut investment in Egypt, it was a rare setback for an economy that has been attracting ever more international capital in recent years. The companies are...

Etisalat: the Middle East's largest telecoms company is attracting greater scrutiny as it increases in size.(TELECOMS)(Emirates Telecommunications Corp.)(Company overview)
June 6, 2008... COMPANY SNAPSHOT Date established 1976 Main business sectors Fixed-line telecoms, mobile telecoms Headquarters Abu Dhabi Chairman Mohammad Hassan Omran Etisalat became the largest telecoms company in the Middle East when...

Q&A: Mohammad Hassan Omran, chairman.(Business Close-up)(questions and answers)(Interview)
June 6, 2008... When will the Egyptian operation make its first net profit? For Egypt, we are targeting a minimum of 10 million customers within three years. When we get 10 million, we will be making a profit. We expect this to happen towards the end of...

Abu Dhabi.(Special Report)(Brief article)
June 6, 2008... [ILLUSTRATION OMITTED] * In comparison with Dubai, Abu Dhabi has followed a low-profile, slower-moving development path. But this is changing. The scale and ambition of its cutting-edge developments in tourism and renewable energy...

Streamlining the state: the Abu Dhabi authorities are implementing ambitious plans to overhaul the public sector and open up the economy, using private companies to drive economic growth.(GOVERNANCE)
June 6, 2008... The Abu Dhabi government has managed to maintain a brisk pace as it overhauls its public administration. In August 2007, it revealed plans to outsource non-core government activities to the private sector as part of a major departmental...

Interview: Rashed Mubarak al-Hajeri.(Special Report: Abu Dhabi)(Interview)
June 6, 2008... As an executive council member and chairman of the Abu Dhabi Department of Civil Service, Rashed Mubarak al-Hajeri plays a crucial role in the emirate's reform programme. So far, he says, progress is ahead of schedule, but improving...

Reshaping the economy: Abu Dhabi is pursuing ambitious targets to encourage business and reduce its economic reliance on the hydrocarbons sector.(ECONOMY)
June 6, 2008... When Abu Dhabi's Department of Planning & Economy (DPE) announced its latest five-year strategic plan in mid-May, much was made of its ambition to achieve 60 per cent growth in its non-oil sector by 2025. This would equate to some $180bn...

Relaxing rules provides $200bn boost: a change in the Commercial Law governing listings on the Abu Dubai Securities Exchange is set to lead to a flood of flotations from private companies in the real estate and retail sectors.(STOCK MARKET)
June 6, 2008... Abu Dhabi's equities market is still in its infancy, but it can reasonably expect companies worth more than $200bn to list once a controversial new law is approved this year. The Abu Dhabi Securities Exchange (ADX) only came into being in...

Building on solid ground: while the high returns offered by Abu Dhabi's real estate sector are beginning to attract the attention of property speculators, concerns that this could lead to oversupply appear misplaced.(REAL ESTATE)
June 6, 2008... Tensions were high among real estate investors at the start of Abu Dhabi's Cityscape property exhibition in early May. Local developer Aldar Properties had invited prospective buyers to visit the show to reserve properties at its Al-Raha beach...

Aiming for the high-end market: with a series of ambitious tourism projects under way, the challenge for Abu Dhabi is to increase the number of visitors while preserving its unique culture and heritage.(TOURISM)
June 6, 2008... Hotels are big business in Abu Dhabi. According to Abu Dhabi Tourism Authority (Adta), the emirate needs 13,000 hotel rooms by 2012. To meet this demand, billions of dollars worth of projects are being developed. The new target was set as...

Construction: Saudi Oger: the top six executives running Saudi Oger under general manager Saad Rafic Hariri.(The MEED List)(Brief biography)
June 6, 2008... Ayman Rafic Hariri POSITION Deputy general manager BIOGRAPHY Ayman Rafic Hariri is the brother of Saad and one of five children of former Lebanese Prime Minister Rafiq Hariri. Rafiq Hariri established Sandi Oger in 1978 after taking...

Ras al-Khaimah launches offshore.(Project news on MEED.com)(Brief article)
June 13, 2008... [ILLUSTRATION OMITTED] The UAE emirate of Ras al-Khaimah has launched an offshore mixed-use development extending 7 kilometres into the Gulf, similar to the Palm developments in Dubai. The project will add 53km of shoreline to the emirate....

Jubail methanol plant comes on stream.(Project news on MEED.com)
June 13, 2008... The fifth-phase expansion of the Ar-Razi methanol complex at Jubail has come on stream, making it the largest such facility in the world.

Hyundai wins Oman sewage plant.(Project news on MEED.com)
June 13, 2008... Hyundai wins Oman sewage plant South Korea's Hyundai Rotem has won the $200m contract to build a sewage treatment plant at Seeb, near the capital.

Abu Dhabi awards study for Ruwais olefins complex.(Project news on MEED.com)
June 13, 2008... Abu Dhabi awards study for Ruwais olefins complex Australia's WorleyParsons will undertake a feasibility study on the expansion of the Borouge olefins complex in Ruwais.

Drake & Scull wins Palm Jumeirah contract.(Project news on MEED.com)(Brief article)
June 13, 2008... Drake & Scull wins Palm Jumeirah contract Dubai-based Drake & Scull International has won a AED162m ($44m) contract for mechanical, electrical and plumbing work on the Palm Jumeirah.

Qatar issues Dukhan engineering tender.(Project news on MEED.com)(Qatar Petroleum Corp.)(Brief article)
June 13, 2008... Qatar issues Dukhan engineering tender Qatar Petroleum has issued a procurement and engineering tender as part of an upgrade of facilities at its onshore Dukhan field.

Nine firms apply for Oman airport work.(Project news on MEED.com)
June 13, 2008... Nine contractors have submitted prequalification applications to build an airport at Ras al-Hadd, southwest of Muscat.

Gulf projects ($ million).(MEED PROJECTS)(Statistical table)(Brief article)
June 13, 2008... GULF PROJECTS ($ million) % % 10 June 2 June change 8 June change 2008 2008 on weep 2007 on year ...

Your last chance to take part in MEED's second annual survey.(NOC SURVEY)
June 13, 2008... [ILLUSTRATION OMITTED] Your last chance to take part in MEED's second annual survey of the region's national oil companies (NOCs). The results of the survey, which examines the performance of the region's NOCs across a range of performance...

Conferences.(Calendar)
June 13, 2008... Middle East Steel 2008 13-14 October Park Hyatt Hotel, Dubai, UAE www.meed.com/events/steel The Middle East steel industry is booming at a phenomenal rate but the pace of demand is outstripping supply. Regional steel producers are capitalising...

Fuel prices test budget airlines: the low-cost model is unsustainable under current levels of cost pressure: some Middle East airlines will find their business vanishing before them.(AVIATION)(Brief article)
June 13, 2008... [ILLUSTRATION OMITTED] On the face of it, it is madness to launch an airline now. Global aviation is in crisis, with more than 20 airlines going bankrupt since the start of the year. Oil prices of $135 a barrel and more are wiping out...

Fresh reserves will calm prices: unfortunately for the IEA, simply bridging the potential oil supply gap is no guarantee that prices will fall, market sentiment is just as important.(OIL)(Brief article)
June 13, 2008... The International Energy Agency (IEA), which advises 27 of the world's biggest oil consuming nations, faces a conundrum. World oil demand is rising at its slowest pace in the past six years, mainly because of a series of fuel subsidy cuts...

Timescales must be more realistic: clients may not like longer timetables but they are better than projects running late and losing cash.(CONSTRUCTION)(Brief article)
June 13, 2008... Confirmation recently that the Burj Dubai will be delayed by several months is the latest reminder of how tight construction schedules are in the Gulf. Real estate developers are desperate to get their products to the market. They often...

Manama opts for low-risk sell-off: the entry of the private sector will bring investment, technology and experience to improve standards.(WATER)(Brief article)
June 13, 2008... [ILLUSTRATION OMITTED] Bahrain is taking no chances with its wastewater privatisation. With water-loss levels unacceptably high and the quality of treated water so poor that the agricultural sector refuses to use it for irrigation, it is...

Private firms need strategic alliances: financial backing and feedstock are both becoming far harder to secure for new petrochemicals schemes.(PETROCHEMICALS)(Brief article)
June 13, 2008... The petrochemicals sector is growing fast but private firms are finding it tough to get feedstock or funding for schemes. State-owned producers are increasingly integrating their chemical production facilities with refineries. The mason is...

Baghdad oil revival to calm fuel prices: international economist says rejuvenating Iraq's oil sector offers the best hope of easing supply concerns.(ENERGY IRAQ)
June 13, 2008... Investing in the revival of the Iraqi oil industry offers the best hope of containing soaring global oil prices, according to a leading international economist in the energy industry. The International Energy Agency (IEA), which acts as an...

Manama invites interest in first stage of water sell-off: first contracts to develop Muharraq wastewater plant to be awarded next year.(WATER BAHRAIN)
June 13, 2008... Bahrain is to award the first contract in its wastewater privatisation scheme by early next year, with companies due to submit their expressions of interest before the end of June. As MEED went to press, the government was due to request...

Doha reviews Mesaieed gas facilities.(ENERGY QATAR)(Qatar Petroleum Corp. reviewing the future of its two oldest natural gas liquids)(Brief article)
June 13, 2008... Qatar Petroleum (QP) is reviewing the future of its two oldest natural gas liquids (NGL) plants at Mesaieed, following the decline in oil production at its onshore field at Dukhan and two offshore fields, Bul Hanine and Maydan Mahzam. The...

Shell secures gas deal with Baghdad: UK firm set to form joint venture with South Gas Company to develop southern region.(ENERGY: IRAQ)
June 13, 2008... The UK/Dutch Shell Group is poised to sign a heads of agreement with Iraq's South Gas Company to form a joint venture for the development of associated gas in the southern region. It is first major gas deal between an international oil...

Ground conditions force review of high-rise developments.(CONSTRUCTION: SAUDI ARABIA)(Brief article)
June 13, 2008... The cost of high-rise developments in Jeddah is expected to increase because of engineering challenges that are only now emerging, according to geotechnical specialists. In line with other cities in the kingdom, Jeddah is planning to...

High costs jeopardise Sultan Qaboos Port expansion plans: demands on infrastructure result in bid submissions exceeding $390m budget.(TRANSPORT: OMAN)
June 13, 2008... Plans to expand capacity at Sultan Qaboos Port in the Omani capital have been thrown into doubt, with several of the firms bidding for the consultancy contract saying that they expect the scheme to be scrapped due to its high cost. Bids...

Fuel prices force review at Bahrain Air.(TRANSPORT: BAHRAIN)(Brief article)
June 13, 2008... Bahrain Air, the region's latest low-cost operator, has admitted that soaring fuel prices are forcing it to seek fresh revenue sources, just four months after launching. The no-frills carrier, which began operations on 1 February, has had...

Doha plans 150km industrial highway: road project to link Mesaieed, Dukhan and Ras Laffan to be managed in-house by Qatar Petroleum.(CONSTRUCTION: QATAR)
June 13, 2008... A 150-kilometre highway is being planned to strategically link Qatar's industrial sites at Mesaieed, Dukhan and Ras Laffan. Unlike other road projects in the state, which are usually handled by the Public Works Authority (Ashghal), the...

Qapco shortlists prequalifiers for polyethylene plant.(PETROCHEMICALS: QATAR)(Brief article)
June 13, 2008... Mesaieed-based Qatar Petrochemical Company (Qapco) is shortlisting prequalifying bidders for its low-density polyethylene (LDPE) plant, with tender documents due to be issued later this month. The firms are competing for the main...

Kuwait gas upgrade set to triple output: second phase of non-associated gas project will boost production to 600,000 cubic feet a day.(ENERGY: KUWAIT)
June 13, 2008... Kuwait Oil Company (KOC) is to issue tender documents for the second phase of its non-associated gas production programme, which will more than triple output from its gas fields. The move comes within days of the first non-associated gas...

Ipic approves plans to develop $5bn oil refinery at Jorf Lasfar.(ENERGY: MOROCCO)(International Petroleum Investment Company )(Brief article)
June 13, 2008... Abu Dhabi government-owned International Petroleum Investment Company (Ipic) has approved plans to develop a refinery at Jorf Lasfar on Morocco's west coast. The refinery is likely to have a capacity of 200,000 barrels a day (b/d) and...

Capacity crunch hits Abu Dhabi developers: major awards and strategic alliances cause shortage of contractors that is set to hinder future projects.(CONSTRUCTION: UAE)
June 13, 2008... A string of major awards and alliances between developers and contractors in Abu Dhabi are using up virtually all spare contractor capacity in the capital. Developers tell MEED shortages in capacity could hinder future projects and that...

Sama calls for end to fare cap as fuel prices force surcharges: international travellers pay seven times the premium of domestic passengers.(TRANSPORT: SAUDI ARABIA)
June 13, 2008... Low-cost carrier Sama has increased its calls for Saudi Arabia's aviation regulator to end the fare cap on domestic routes, after being forced to raise the fuel surcharge on its most lucrative international routes to cope with high oil prices....

International firms to vie for airline audit.(TRANSPORT: KUWAIT)
June 13, 2008... The contract to audit Kuwait Airways will now be open to international accounting firms, after efforts to award the work to a local firm were rejected by the government. The audit is seen as vital if the airline's planned privatisation is to go...

Adbic expresses confidence in success of polymers park: developer of plastic conversion facilities aims to service global markets.(INDUSTRY: UAE)
June 13, 2008... State-owned Abu Dhabi Basic Industries Corporation (Adbic) has insisted that its new polymers park will be able to compete with international rivals, despite its distance from the world's main consumer markets. The Abu Dhabi Polymers Park...

Award nears on Jebel Ali water plants.(WATER: UAE)(Brief article)
June 13, 2008... Local real estate developer Nakheel is due to make awards soon on the two water desalination and wastewater treatment concessions serving its giant Waterfront development in Dubai. The desalination element covers a 30-year...

Rabat to launch coal-fired plant at Safi: kingdom's second independent power project on the west coast to come on stream in 2012.(POWER: MOROCCO)
June 13, 2008... Morocco's power utility l'Office National de l'Electricite (ONE) is to launch a major independent power project (IPP) at Sail, halfway between Casablanca and Agadir on the kingdom's west coast. The coal-fired thermal power plant will have...

Muscat to issue tenders to triple airport passenger capacity.(TRANSPORT: OMAN)(Brief article)
June 13, 2008... The Transport & Communication Ministry is expected to issue tenders by the end of this year for the contract to build a terminal at Muscat International Airport with capacity for 12 million passengers a year. The airport, formerly Seeb...

Soaring fuel costs hit budget carriers: rising oil prices are driving airlines to bankruptcy. How will the Middle East's low-cost operators fare?(AVIATION)
June 13, 2008... The atmosphere was one of grim determination at the annual meeting of the International Air Transport Association (IATA) in early June. The industry is facing its sternest test in years and many airlines are fighting for survival. On the...

Sky-high ambitions: the kingdom's city skylines are set to be transformed as developers start taking advantage of a relaxation in the height-cap on buildings.(Saudi Arabia)
June 13, 2008... The skylines of Sandi Arabia are about to undergo irrevocable change. Until now, there has only been limited high-rise development in the kingdom's main cities. With the exception of the Kingdom Tower and the A1-Faisaliah Tower, both in Riyadh,...

CCC: the family-owned construction business is keen to expand into Africa, Central Asia and the Far East.(CIVIL ENGINEERING)(Consolidated Contractors International Co.)(Company overview)
June 13, 2008... COMPANY SNAPSHOT Date established 1952 Main business sectors Construction Main business regions Middle East, Africa Group revenue 2008 (projected): $5.6bn Consolidated Contractors International Company (CCC) was founded as a...

Q&A Samer Khoury, Executive Vice-President, Operations.(Business Clouse-up)(Interview)
June 13, 2008... Will the sub-prime crisis have an impact on the Middle East project market? Many people here in the Middle East are complacent. They say we are independent economies and we will not be affected by the sub-prime crisis. I totally disagree....

Nothing is more indicative of the region's struggle to source ethane, than the decision of a country with the world's fifth-largest natural gas reserves to turn to oil-derived feedstock for its largest ever petrochemical investment.(Brief article)
June 13, 2008... [ILLUSTRATION OMITTED] Nothing is more indicative of the region's struggle to source ethane, than the decision of a country with the world's fifth-largest natural gas reserves to turn to oil-derived feedstock for its largest ever...

Feedstock shortage hits Gulf: with ethane feedstock allocations running out, the region's producers in the sector are exploring innovative ways to drive future capacity increases.(PRODUCTION)(Company overview)
June 13, 2008... The rise of the Middle East petrochemicals industry has been meteoric. After years of focusing on oil production, the sector is now of increasing strategic importance to the region as it prioritises the diversification of its economies and...

Projects market slows: the latest figures reveal a slowdown in the petrochemicals and wider projects market during the past year, but the boom is far from over.(CONTRACTOR SURVEY)
June 13, 2008... Like all good things, the boom in the Middle East project market has to come to an end at some point, and the evidence suggests it is already slowing. According to Gulf projects tracker MEED Projects, in the 12 months to the beginning of June...