MEED Middle East Economic Digest articles from November 2003

MEED Middle East Economic Digest archives from November 2003

Upstream, downstream.(oil industry politics)
November 7, 2003... The drama of Mikhail Khodorkovsky's arrest, the confiscation of his shares in Yukos--the largest private sector oil company in Russia--and the gathering political storm in Moscow have a hypnotic intensity. For the Middle East, the most...

On the record.(Syrian Foreign Affairs Ministry spokesperson Bushra Kanfani )(Brief Article)
November 7, 2003... "The US must be more objective, because when it entered Iraq there was no terrorism and now there is the problem of terrorism and of Al-Qaeda and the matter has changed from one of weapons of mass destruction and toppling a regime to a new one...

Looking back ...(historical moments in the Middle East)(Brief Article)
November 7, 2003... 8 November 1963 OPEC convenes for its fifth conference, as members continue to negotiate with the US' Aramco and the Iranian Consortium over a formula to increase oil revenue royalties to host governments 11 November 1988 A record...

White House in tough PR battle for Iraq: attacks: increasing resistance at home and abroad.(I)
November 7, 2003... US politicians and newspapers alike are increasingly making use of the 'V' word, as stiffening resistance to coalition forces in Iraq is likened to the violence of the early days of the Vietnam conflict. The parallel is not entirely convincing....

Sharon feels the heat.(Israeli Prime Minister Ariel Sharon )
November 7, 2003... Israeli Prime Minister Ariel Sharon signalled a marginal softening of his stance towards the Palestinians in early November. West Bank travel restrictions were partially eased, allowing several thousand Palestinians to return to work in Israel....

News digest in MEED.com this week.
November 7, 2003... 31 OCTOBER Israel restricts entry to Temple Mount Scuffles break out in Jerusalem between Muslims and the Israeli Defence Force after Israel restricts entry to the Haram al-Sharif on the first day of Ramadan. Sudan condemns...

Russian gambit threatens to change game: conflict in the opaque world of Russian politics is in danger of spilling over. While the domestic implications are tremendous the impact on the global oil market could be explosive.(Cover Story)
November 7, 2003... At dawn on 25 October at Tolmachevo airport in western Siberia, Russian police stormed the private jet of Mikhail Khodorkovsky, chairman of Yukos, the giant oil company Russia's richest man was arrested and--according to some reports--beaten,...

Riding the wave in Dubai: Mishal Hamed Kanoo, deputy chairman of the Kanoo Group, one of the Gulf's biggest family businesses, tells Andy Critchlow about the economic boom in Dubai.(Interview)
November 7, 2003... As one of the region's biggest suppliers of plant machinery, Kanoo is benefiting from Dubai's construction boom, How long will it last? Construction companies are looking at another couple of years of growth; beyond that I just don't know....

International banks offered licences by Central Bank: six licences up for award by 2009.(Iraq )
November 7, 2003... The Central Bank of Iraq (CBI) is to award in early 2004 up to six licences to international banks. In a request for applications (RFA) published on 5 November, the CBI calls for international banks to submit proposals by 26 November. The bank...

Big interest in contract to run Iraq's media.
November 7, 2003... Representatives from 29 international media organisations attended on 3-7 November a site visit for an estimated $100 million Coalition Provisional Authority (CPA) contract to operate the country's national television and radio networks and...

Water schemes move ahead in Basra.(Iraq)(Brief Article)
November 7, 2003... The US' Bechtel has extended the bid deadline to mid-November for the contract to rehabilitate water treatment and supply infrastructure in the south. The project covers the restoration of 15 major treatment plants, pumping stations and 120...

Motorola awards GSM subcontracts.(Iraq )(Brief Article)
November 7, 2003... A Japanese joint venture of NEC Corporation and Sumitomo Corporation has been awarded a $650,000 contract to supply equipment to the US' Motorola for one of three mobile networks being built in Iraq. Motorola in late October was awarded a...

IP systems for CPA.(internet protocol, Coalition Provisional Authority)(Brief Article)
November 7, 2003... The US' Spacelink International has awarded a 12-month contract to InterNetwork Experts, a subsidiary of I-Sector Corporation of the US, to provide technical support for the internet protocol (IP) communications infrastructure it is setting up...

Oil Ministry shake-up.(Iraq)(Brief Article)
November 7, 2003... Oil Minister Ibrahim Bahr al-Uloum announced on 5 November the appointment of four new oil ministry directors as part of a shake-up of the ministry. The new directors are: Nateq al-Bayati as head of exploration, Hazem al-Sultan as director...

MEED Conferences: premier networking events.(Calendar)
November 7, 2003... Investing in Saudi Arabia 1-2 December, London MEED Fmily Business 8-9 December, Dubai Lead sponsor: HSBC Major New Project Opportunities in Qatar 13-17 January 2004, Doha Lead sponsor: KEO ...

PDO to slash operating costs: five-year plan envisages savings of $2bn.(Petroleum Development Oman )
November 7, 2003... Petroleum Development Oman (PDO) announced on 1 November plans to dramatically cut operating costs from 2004. The company, which produces over 90 per cent of the sultanate's hydrocarbons, plans to reduce costs by $2,000 million over the next...

Bidders gear up for Madinah bulk plant.(Saudi Arabia)(Brief Article)
November 7, 2003... Ten companies are prequalified to bid by 9 December for the project to set up a grassroots bulk plant in Madinah for Saudi Aramco. The engineering, procurement and construction (EPC) contract is estimated to be worth at least SR 200 million...

Tripoli wants to woo IOCs.(international oil companies )(Brief Article)
November 7, 2003... Tripoli is planning to boost capacity beyond 2 million barrels a day (b/d) by 2010 through an aggressive drive to attract foreign investment, Prime Minister Shukri Ghanem told the Oil & Money Conference in London on 4 November. "We are...

Warm weather brings out bears.(oil prices)
November 7, 2003... Oil prices fell in the first week of November in spite of the turmoil engulfing the Russian oil industry. Rising US stocks and seasonally warm northern hemisphere weather brought bearish sentiments to the market. Brent was trading at $27.32 on...

First Calgary, Sonatrach sign development deal.(Algeria)(Brief Article)
November 7, 2003... Canada's First Calgary Petroleum has signed an agreement with state-owned Sonatrach to develop the Menzel Ledjmet East (MLE) field on block 405b in the Berkine basin. The deal foresees investment of some $700 million to establish a 650...

West Med find for BP.(Egypt)(Brief Article)
November 7, 2003... BP of the UK and Germany's RWE Dea have announced a new gas find in the West Mediterranean Deep Water concession, 60 kilometres north of Alexandria, in which BP has an 80 per cent operating interest. The deepwater Ruby 2 well, which tested at...

Apache confirms strike.(Egypt)(Brief Article)
November 7, 2003... The US' Apache Corporation has drilled a successful appraisal well, Qasr-2X, which confirms the earlier Qasr-1X discovery announced in July, the company stud on 5 November. Apache describes Qasr-1X, which tested at a combined rate of 51.8...

New offer for Oman Sea acreage.(Iran)(Brief Article)
November 7, 2003... Iran has announced it will tender 51 new oil blocks on a buyback basis. National Iranian Oil Company (NIOC) recently asked companies to prequalify for exploration and development contracts on the first 16 of these blocks, located in the Oman...

Mott is preferred bidder for Mina al-Fahal PMC.(Mott MacDonald, project management consultancy )(Brief Article)
November 7, 2003... The UK's Mott MacDonald is the preferred bidder for the contract to provide project management consultancy (PMC) services on the 260-kilometre mixed feedstock pipeline from Mina al-Fahal to Sohar. The contract is expected to be officially...

Vintage awards Block S-1 FEED.(Gulf Interstate Engineering receives Vintage Petroleum contract)(Brief Article)
November 7, 2003... Houston-based Gulf Interstate Engineering Company has been awarded a contract to carry out front-end engineering and design (FEED) studies on a proposed oil processing facility on block S-1 in the An Nagyah field. The client is fellow US firm...

Oil finds flow.(Yemen)(Brief Article)
November 7, 2003... Norway's DNO ASA and Canada-based Transglobe Energy, with local partners Anon Wikfs and The Yemen Company, have successfully tested a development well, Tansour 11, in block 32, located east of the Hadhramaut region. Initial flow rate was 6,000...

Sabic to team up with Aramco for cracker project: Jubail, Yanbu units will handle mixed feedstock.(Saudi Basic Industries )(Brief Article)
November 7, 2003... Saudi Basic Industries Corporation (Sabic) plans to build new crackers in Yanbu and Jubail, the latter in partnership with Saudi Aramco, Sabic chief executive Mohammed al-Mady told MEED in Riyadh on 5 November. The mixed-feedstock crackers form...

Prequals invited for aromatics plant.(Kuwait)(Brief Article)
November 7, 2003... The local Petrochemical Industries Company (PLC) has invited companies to apply for prequalification by 3 January for the engineering, procurement and construction (EPC) contract for the proposed aromatics complex at the Shuaiba industrial area...

Methanol plant planned.(Oman)(Brief Article)
November 7, 2003... A proposed scheme to build a methanol plant in Sohar may be split into two phases, according to project sources. The original plan was to build a 5,000-tonne-a-day (t/d) methanol facility. Under the new proposals, the initial phase could go...

Major contract awarded on JBR: UK firm gets Jumeirah Beach district cooling plant.(Jumeirah Beach Residence )(Brief Article)
November 7, 2003... The UK's Drake & Scull International has been awarded an estimated AED 250 million ($68 million) contract for a district cooling plant to serve the proposed Jumeirah Beach Residence (JBR) project in Dubai (MEED 29:8:03). The engineering,...

Prequalification launched for city centre expansion.(Qatar)(Brief Article)
November 7, 2003... A select group of international contractors has been invited to prequalify by 10 November for a major expansion of the City Centre Doha shopping mall. The estimated $150 million project centres on the construction of four hotel towers, each 30...

Investors sign up for DSC.(Dubai Sports City )(Brief Article)
November 7, 2003... Dubai Tourism Projects Development Company announced on 31 October the signing of an agreement with a group of investors for the proposed Dubai Sports City (DSC) scheme (MEED 24:10:03). Three local investors--Abdul Rahim al-Zarooni, Abdul...

Bids in for Burj Dubai piling package.(Brief Article)
November 7, 2003... About eight local and international companies submitted bids by 2 November for the pilings and foundations package on the landmark Burj Dubai project (MEED 30:5:03). The bidders are understood to include Germany's Bauer, Swissboring--part...

Khartoum awards major roads contracts.(Sudan)
November 7, 2003... The National Highways Authority awarded in mid-October six contracts for the construction of a 484-kilometre highway linking Khartoum, Haiya and Port Sudan. Two construction contracts and one construction supervision contract were also...

Tender out for first sports complex.(Bahrain)(Brief Article)
November 7, 2003... Bids are due by 30 November for a contract to build the first in a network of sports complexes in the kingdom. The first contract calls for the construction of an athletics track with seating and associated facilities, an artificial football...

New CSB base takes shape.(Civil Service Bureau, Bahrain)(Brief Article)
November 7, 2003... Construction work began in early November on a new BD 1.7 million ($4.5 million) 10-storey office block to house the Civil Service Bureau (CSB), in the Jufair suburb of Manama. Work is scheduled for completion in 18 months. The local AAA Homes...

Architect appointed for new BCCI HQ.(Bahrain Chamber of Commerce and Industry)(Brief Article)
November 7, 2003... The local Aref Sadeq Design Consultants has been awarded the contract to draw up detailed designs on the estimated BD 6.5 million ($17.1 million) new headquarters for the Bahrain Chamber of Commerce & Industry (BCCI). The project, scheduled for...

Four Seasons delayed.(Lebanon)(Brief Article)
November 7, 2003... The bid deadline for the main package on the Beirut Four Seasons hotel project has been put back by a month to 8 December. At least 15 local and international contractors have bought tender documents for the contract, which covers the...

West Bay tower awarded.(Qatar)(Brief Article)
November 7, 2003... The UAE's Tiger Contracting has received a letter of intent to build a twin tower for a private investor in West Bay. The estimated QR 110 million ($30 million) calls for the construction of a 23-storey building 80 metres high and with a...

Award approaches for Dubai snow centre.(Brief Article)
November 7, 2003... The local/UK Al-Naboodah Laing is understood to be the frontrunner for an estimated AED 220 million ($60 million) contract to build the snow centre and west car park package on the Mall of the Emirates retail development in Dubai. The package...

Bids awaited for Foreign Ministry HQ.(United Arab Emirates)(Brief Article)
November 7, 2003... Companies are preparing to submit prequalifications by 24 November for a contract to build a new headquarters complex in Abu Dhabi for the Foreign Affairs Ministry. Estimated to be worth AED 200 million ($54 million), the project calls for the...

Emaar attracts investment from Kuwait.(Emaar Properties)(Brief Article)
November 7, 2003... Al-Ahlia Investment Company of Kuwait announced on 31 October the signing of an agreement with Dubai-based real estate developer Emaar Properties to invest AED 100 million ($27 million) in the construction of a residential tower in Dubai...

Further delay for grand mosque bids.(United Arab Emirates)(Brief Article)
November 7, 2003... The Works Department has further extended the deadline by 30 days to 5 December for the contract to manage the second-phase works on the Shaikh Zayed bin Sultan al-Nahyan mosque. Seven international and local companies are prequalified to price...

Work starts on third crossing.(bridge in Abu Dhabi)(Brief Article)
November 7, 2003... Construction work has started on the final and largest element on the Abu Dhabi third crossing project, the estimated $175 million gateway bridge. Being built by Geneva-registered Archirodon Construction (Overseas), the 845-metre-long bridge...

Bids in for Durrat highway.(Bahrain)(Brief Article)
November 7, 2003... The local Cebarco is the low bidder at BD 17.6 million ($46.3 million) for the Durrat al-Bahrain highway contract according to the bid opening prices announced on 5 November. Seven groups priced the two-year job, which entails construction of a...

Three bid for Zanjan zinc: award expected in first quarter of 2004.(Iran)(Brief Article)
November 7, 2003... Three groups submitted bids by the 1 November deadline for the Zanjan zinc plant. Commercial bids are expected to be opened by mid-December, allowing an award to be made in the first quarter of 2004. The client on the estimated $250 million...

IHI kicks off work at Qassim cement.(Saudi Arabia)(Brief Article)
November 7, 2003... Japan's Ishikawajima-Harima Heavy Industries (IHI) has started work on the project to expand the Qassim Cement Company (QCC) plant at Buraidah after the SR 879 million ($234 million) contract came into force in late October. IHI's local partner...

Advisers signed up for first IPP: RFP issue expected in January 2004.(Bahrain)
November 7, 2003... A group of three advisers has been appointed for the proposed independent power project (IPP) to be built at the Hidd complex. BNP Paribas is the financial adviser, the UK's Mott MacDonald is the technical adviser and UK-based Freshfields...

January release for Taweelah RFP.(UAE)(Abu Dhabi Water & Electricity Authority )(Brief Article)
November 7, 2003... Abu Dhabi Water & Electricity Authority (ADWEA) has notified developers that the request for proposals (RFP) for its new independent water and power project (IWPP) at Taweelah will be issued in January The Taweelah project will replace the...

RFP out for Sohar IWPP.(Oman)(Brief Article)
November 7, 2003... The National Economy Ministry released in early November the request for proposals (RFP) for the Sohar independent water and power project (IWPP). Developers have been given until 22 March to submit proposals for the project, which calls for...

Shuaiba pump tender goes for bid.(Kuwait)(Brief Article)
November 7, 2003... The Public Authority for Industry (PAI) has invited companies to submit bids by 18 January for an estimated $40 million-45 million contract to revamp and upgrade the existing seawater cooling plant at Shuaiba (MEED 3:10:03). Fourteen...

Private desal plant expansion on track.(Saudi Arabia)(AES Arabia)(Al-Safya Water Company)(Brief Article)
November 7, 2003... The start of construction is imminent on the phase-2 expansion of the kingdom's first private desalination project in Jeddah. AES Arabia, a local affiliate of the US' American Engineering Services, won in May the $2 million contract to carry...

GE to service Umm al-Nar.(UAE)(ITM Operation & Maintenance Company )(Brief Article)
November 7, 2003... The US' General Electric Power Systems has announced that it has been awarded an estimated $200 million contract by the UK/Japanese ITM Operation & Maintenance Company to provide maintenance services over a 23-year period for the five gas...

More time for PP7 bidders as SEC projects grow.(Saudi Arabia)(Brief Article)
November 7, 2003... The bid deadline has been extended by three weeks to 1 December on the Saudi Electricity Company (SEC) project to expand the Riyadh PP7 power station. The new closing date coincides with deadlines for two other power expansion projects at Arar...

Consultant sought to review Durrat al-Bahrain project: shareholder shake-up sparks new thinking.(Bahrain)(Brief Article)
November 7, 2003... Bids were due on 6 November for a consultancy contract on the Durrat al-Bahrain tourism project, located in the southeast corner of the main island. The consultant will re-evaluate all aspects of the estimated $1,200 million development in...

Siemens wins locomotive contract.(Iran)(Brief Article)
November 7, 2003... Germany's Siemens has signed a Eur 300 million ($117 million) contract to supply 100 diesel locomotives to Iran Railways Company. The contract involves the supply of 20 locomotives from Siemens' German factory and the assembly of the remaining...

JAFZI to manage Kalang.(Jebel Ali Free Zone International, Port of Kalang )(Brief Article)
November 7, 2003... Jebel Ali Free Zone International (JAFZI) has signed a 15-year concession to manage a new free zone being developed by the Port of Kalang in Malaysia. Under the terms of the agreement, JAFZI will also manage Lapola Andrea Free Zone, which is...

Gulf Air continues growth.
November 7, 2003... Regional carrier Gulf Air has signed an agreement to lease three Airbus A340 aircraft from the US' Boeing Company. Two of the planes are used and the third is new. The first has already arrived in Abu Dhabi where it is being painted, with the...

US turns attention to Cairo courts: Joy gets first hearing in ICSID.(International Centre for the Settlement of Investment Disputes )(Brief Article)
November 7, 2003... The US Agency for International Development (USAID) has issued a request for proposals (RFP) to local and international companies to provide professional, administrative and management support services for the second phase of its justice...

Draft budget presented.(Algeria)(Brief Article)
November 7, 2003... Finance Minister Abdellatif Benachenhou presented the government's draft 2004 budget to parliament on 2 November, predicting a 17 per cent increase in the deficit to AD 392,000 million ($5,200 million). Benachenhou said that the widening of the...

T-bill market re-opens.(Lebanon)(Brief Article)
November 7, 2003... The Finance Ministry on 3 November resumed issuing treasury bills after a nine-month hiatus, with a $150 million auction. The fresh issues were priced significantly lower than had been the previous trend, with the one-year paper having an...

Shortlist prepared for RasGas bond: mandate award expected in mid-November.(Qatar)(Brief Article)
November 7, 2003... A shortlist of international banks bidding for the lead arranging mandate on a proposed $750 million bond issue has been drawn up by Ras Laffan Liquefied Natural Gas Company (RasGas). The shortlist is understood to include Credit Suisse First...

UGB bond lists on BSE.(United Gulf Bank, Bahrain Stock Exchange )(Brief Article)
November 7, 2003... Bahrain-based United Gulf Bank (UGB) has signed an agreement with the Bahrain Stock Exchange (BSE) to list its recent $60 million bond issue, and trading began on 4 November. The five-year floating rate note, lead managed by Burgan Bank, Global...

BMA extends brokerage licences.(Bahrain Monetary Agency )(Brief Article)
November 7, 2003... The Bahrain Monetary Agency (BMA--central bank) has expanded the scope of its brokerage licences to permit trading in commodities and securities, in addition to money market and foreign exchange transactions. The move will chiefly benefit the...

New listing on BSE.(United Paper Industries, Bahrain Stock Exchange )(Brief Article)
November 7, 2003... United Paper Industries, a local manufacturer of paper and cardboard products, has become the third closed company to list on the Bahrain Stock Exchange (BSE). The company has authorised capital of BD 3 million ($7.9 million), BD 1 million...

Mapna conversion finance signing due.(Iran Power Plants Project Management Co.)(Brief Article)
November 7, 2003... The loan agreement for the first tranche of a Eur 1,000 million ($1,148.8 million) financing package for Iran Power Plants Project Management Company (Mapna) is due to be signed by the end of November. BNP Paribas is acting as the sole lead...

Alba export credits close to signing.(Aluminium Bahrain )(Brief Article)
November 7, 2003... The $450 million export credits facility for Aluminium Bahrain (Alba) is expected to be signed by mid-November, bankers close to the deal say. "The term sheet has been accepted and we are just waiting for the global facility agent...

Hospital targets growing sukuk market.(Bahrain)(Brief Article)
November 7, 2003... Private healthcare provider Bahrain Specialist Hospital (BSH) has launched a $22 million sukuk issue lead managed by the local Liquidity Management Centre (LMC). The funds will finance expansion plans and the paper will be backed by the...

TAIB to increase capital, develop private banking.(TAIB Bank)(Brief Article)
November 7, 2003... Bahrain-based TAIB Bank has announced plans to stage a capital increase and to reposition itself as a private bank serving high net worth individuals. The capital increase will take place through two rights issues, one of $55 million by the end...

ABC posts profits growth.(Arab Banking Corp.)(Brief Article)
November 7, 2003... Bahrain-based Arab Banking Corporation (ABC) has posted a 25.5 per cent increase in net profits to $69 million for the first three quarters of 2003, compared with the corresponding period in 2002. Operating expenses increased substantially to...

KFH posts profit rise.(Kuwait Finance House )(Brief Article)
November 7, 2003... Kuwait Finance House (KFH) has reported headline figures showing a 2 per cent increase in return on shareholders' equity to KD 38.6 million ($133 million) compared with the corresponding period in 2002. Assets climbed 18 per cent year-on-year...

Two top banks deny merger plans.(Morocco)(Brief Article)
November 7, 2003... Banque Commercial du Maroc (BCM), Morocco's largest private bank, has denied rumours that it plans to merge with the second biggest bank, Banque Marocaine du Commerce Exterieur (BMCE). "The issue of an eventual merger was raised and then...

Fitch downgrades Bank of Sharjah.(Brief Article)
November 7, 2003... Rating agency Fitch has downgraded the individual rating of Bank of Sharjah to C from B/C, citing the withdrawal of BNP Paribas in 2002. Bank of Sharjah's long and short-term foreign currency ratings were affirmed at BBB+ and F2 respectively....

IB goes for capital increase.(Investors Bank)(Brief Article)
November 7, 2003... Bahrain-based Investors Bank (IB) is to stage a capital increase through a private placement to take capital to $50 million from $30 million. Talks are ongoing with potential investors with a view to completing the process by the second quarter...

ADCB chooses Knox.(Abu Dhabi Commercial Bank, Eirvin Knox )(Brief Article)
November 7, 2003... Eirvin Knox has been appointed chief executive at Abu Dhabi Commercial Bank (ADCB). Knox joins ADCB from Al-Ahli Bank of Kuwait, where he was chief executive for over three years. He previously worked at Standard Chartered Bank, Continental...

Time to join the major league: already a force to be reckoned with in the global petrochemicals industry, the Middle East is poised to become a leading player. Low feedstock and production costs give the region a huge advantage over other major producers.(Industry Overview)
November 7, 2003... The Middle East is the rising star of the global petrochemicals industry Today it accounts for less than 9 per cent of global ethylene capacity, but by 2010, its share will jump to about 16.5 per cent, based on projects planned and under way A...

Facing a full agenda: Q-Chem II is just one project occupying the Qatar Petroleum/ChevronPhillips joint venture.(Qatar Chemical Co.)
November 7, 2003... There is at last some light at the end of the tunnel for Qatar Chemical Company (Q-Chem). Ten months after the latest addition to the Mesaieed petrochemical landscape was inaugurated, the Q-Chem complex is edging towards full production. By the...

Pressing the advantage: the removal of the threat from neighbouring Iraq has allowed Kuwait's petrochemicals industry to forge ahead with ambitious plans for large-scale development.
November 7, 2003... Petrochemical Industries Company (PLC) is making up for lost time. With the Saddam Hussain regime ousted from Iraq, Kuwait's state-owned petrochemical producer is pressing ahead with a $3,500 million investment programme. Its completion in 2007...

NPC packs a powerful polyethylene punch: Iran aims to reap the rewards of using ethane as feedstock for its rapidly expanding polyethylene industry.(National Petrochemical Co.)
November 7, 2003... National Petrochemical Company (NPC) has been one of the strongest forces in the Iranian economy over recent years, implementing project after project. Now it is planning its latest phase to coincide with Iran's next five-year development plan,...

Cracking open the European market: Sabic's acquisition of Netherlands-based DSM has given the Saudi conglomerate a firm foothold in the European petrochemicals market.(Sabic)(Saudi Basic Industries Corporation)(DSM Energie B.V.)
November 7, 2003... The signs point to "Chemelot" as drivers approach the Geleen plant in southern Holland, now the property of Saudi Basic Industries Corporation (Sabic). The resonance of the European literary reference for the 185 Saudis employed there is...

The resurrection business: hopes are high that private-sector investment will secure the future of Iraq's Khor al-Zubair petrochemicals plant.(Iraq)
November 7, 2003... Engineers at the Khor al-Zubair petrochemicals plant, about 40 kilometres south of Basra, are on the brink of a major breakthrough. In late October, gas pressure at the plant reached levels high enough to restart production of chlorine for the...

Contracts awarded in October 2003.(Contracts: October)(Illustration)
November 7, 2003... CONTRACTS AWARDED IN OCTOBER 2003 Contractors (local, unless Project stated) Bahrain * Expansion of US naval base Contrack International (US) *...

Tenders.(Business Opportunities)
November 7, 2003... MEED Tenders is the most comprehensive weekly listing of business opportunities in Middle East countries. To promote your business opportunity to more than 50,000 business people who read MEED every week, send details to MEED Editor, 33-39...

Strong interims shore up market: fundamentals remain sound as the market awaits NCB's IPO.(Capital Markets: Saudi Arabia)
November 7, 2003... The Saudi Arabian stock exchange in early November halted a four-week downward drift, with the benchmark Tadawul All Shares Index (TASI) rising by up to 2.5 per cent to 4,102.98 points in the week ending 5 November. The pick-up followed the...