Tuesday, November 21, 2017

TICKER TAPE: INTERNATIONAL

DUBAI FOR WORLD’S BIGGEST MALL

Authorities in Dubai have unveiled plans to build the world’s first temperature-controlled city. The Mall of the World to be located along Sheikh Zayed Road will occupy a total area of 48 million square feet and will house the largest shopping mall in the world with an area of 8 million sq ft. Also included in the project is the largest indoor theme park in the world, a wellness dedicated zone catering to medical tourists, a cultural celebration district as well as a wide range of hospitality options comprising 20,000 hotel rooms catering to all types of tourists. The project when completed will welcome 180 million visitors annually.

 

TENDERS FOR KUWAIT METRO

Kuwaiti officials are expected to tender the much-delayed metro rail project as part of the Gulf emirate’s five year plan. The 171-km metro project will cost nearly $7 billion and would be part of a $25-billion rail network linking Kuwait with its five partners in the Gulf Cooperation Council—Saudi Arabia, Qatar, Bahrain, Oman and the UAE. The project to be completed in five phases will begin operations in 2020 will be serviced by 69 stations. The authorities plan to give winning bidders 40-50 per cent of shares in “design-build-finance-maintain” infrastructure packages. The first phase of the development will extend more than 54 km and will be serviced by 28 stations, nine of which will be underground.

 

ABB BAGS $35 MN HVDC UPGRADE ORDER

Leading power and automation technology major ABB has won an order worth about $35 million from Hydro-Québec to upgrade the 350 megawatt (MW) Madawaska high-voltage direct current (HVDC) transmission link that connects the grids of New Brunswick and Hydro Québec in southeast Canada. The order was booked in the second quarter of 2014.  The project scope includes installation of ABB’s MACH control and protection system and the upgrade of the valves and valve cooling system. The back-to-back converter station has been in operation for more than 25 years and the modernisation is expected to significantly improve grid reliability and help reduce maintenance needs. The new station is scheduled to go into full operation in 2016. This upgrade will enhance power availability, reduce outages and improve grid reliability in the region. This is the 21st major HVDC modernisation project and the 15th upgrade of control and protection systems awarded to ABB since 1990.

 

EGIS-ADETAF TIE UP FOR VIETNAM PPP

Egis and Adetef have signed a technical assistance contract to support the development of public-private partnerships in Vietnam. The contract worth $3.5 million US dollars over a period of 5 years and co-financed by the Asian Development Bank and the French Development Agency is part Vietnam’s plan to support public-private partnerships. Under the auspices of this programme the Egis-Adetef consortium will provide expert advice on strategic, institutional, financial, environmental and social issues on the behalf of the Ministry of Planning and Investment (MPI). It will contribute recommendations on PPP strategy, institutional and sector issues like energy, transport, education, health, water and sanitation etc and on economic, financial, and safeguard aspects like involuntary resettlement and indigenous peoples, etc.

 

CSCEC BAGS DUBAI HOTEL PROJECTS

China State Construction Engineering Co has won two contracts from Dubai-based developer Arenco Real Estate to build two new five star resort hotels at Palm Jumeirah. It is reported the developments to be built on adjoining plots of around 100,000 square metres each will both contain a basement, ground, 13 upper floors and a roof area. The project which will take 940 days to complete includes all civil works, mechanical, electrical and plumping, external works and finishes.

 

DOHA MALL CONTRACTS FOR HILL

Hill’s Project Management Group has been awarded two contracts worth $12.6 million in Qatar. These include the Boulevard Mall and the Mall of Qatar in Doha. The Mall of Qatar, set to open in the last quarter of 2015, will span across an area of 165,000 square meters, and include a hypermarket, department stores, restaurants and a three-storey central amphitheatre, called the Oasis. Its contract value is $9.6 million. Meanwhile the Boulevard Mall’s total built-up area will be 182,000 square meters and is due for completion by April 2017. It is reported the development’s project management contract value is worth $3 million, and will include a hypermarket, cinema and family entertainment centre.

 

KSA APPROVES $1.6 BN ROAD PROJECT

Authorities in Saudi Arabia have granted clearance for the construction of a $1.6 billion road project. The 135 km project which will link the regions of Asir and Jazan will be a dual carriageway that would have all the services necessary for the movement of travelers. The road starting from the Al-Far’a recreational park in the south of Abha runs to Beesh in the north of Jazan. The project is part of a $6.39 billion plan to improve road projects across the Kingdom. The project also includes construction of a road linking the Makkah and Jazan regions via Asir, which will cost $1 billion.

 

$17 BN ENVIRO FUEL PROJECT FOR KUWAIT

Kuwait is investing upwards of $17 billion to develop oil refineries as part of an environmental fuel project. The project which will be launched in 2018 aims at developing Mina Al-Ahmadi and Mina Abdullah refineries and providing them with new units to increase their refinement abilities. The developments will allow the refineries to produce high-quality environment-friendly oil products. It is reported the project will raise production capacity at the oil refineries from about 936,000 barrel of crude oil per day to 1.4 million barrel, an increase of 47 percent.

 




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