Friday, December 15, 2017

Table of Contents for Ticker Tape





Ticker Tape International

EGYPT TO CONSTRUCT SUEZ CANAL PARALLEL

Egyptian authorities have announced plans to construct a 72-km canal parallel to the Suez Canal in a bid to make the country one of the largest industrial hubs in the world. The project expected to cost $8.2 billion will be implemented over a three year period and will feature the development of more than four million acres surrounding the canal. It is reported Egyptian armed forces will supervise the project which could involve the participation of up to 20 Egyptian firms. On completion the project is expected to bring in an estimated $100 billion to Egyptian state coffers and create one million new jobs.

 

 

SECOND PHASE OF TIBETAN RAILWAY OPENS

Chinese authorities have inaugurated the second phase of the Tibetan Railway network with the opening of a 253 km line. The new $2.16 billion line linking Tibet’s capital Lhasa to Xigaze has 13 stations and an 875m-long bridge across the Yarlun Zangbo river. The line designed for 120km/h operation reduces the journey time between the two cities from around four hours to about two hours. 

 

 

ESSAR BAGS $54MN SAUDI ARAMCO CONTRACT

The hydrocarbons unit of EPC firm Essar Projects been awarded a contract worth $54 million with Saudi Aramco. The project involves upgradation of a crude stablisation unit at Abqaiq Plant in Shaybah, one of the largest oilfields in the world. The scope of work includes engineering, procurement and construction of a crude tank, and the replacement of crude pumps and associated civil, electrical and instrumentation facilities. The project is expected to be completed within 29 months.”

 

 

$14 BN REAL ESATE PROJECT FOR MADINAH

Authorities in Saudi Arabia have launched a real estate project worth $14.7 billion at Madinah. The Dar Al Hijrah project being financed by the state owned Public Investment Fund will include 100 towers to accommodate up to 120,000 people. It is reported the project will be implemented over three phases, with foundation work due to be undertaken during the first phase. The residential buildings will be constructed in the third phase. The project is expected to be completed by 2016, the development is being built across a 1.6 million sqm large area, which has already been handed over to contractors. Each of the 100 towers will include 30 floors; 80 towers will be used for residential purposes, and the other 20 will be set aside for administrative operations. 76 four-star hotels and six five-star hotels to accommodate 40,000 people will also be constructed as a part of the project. Furthermore, a 400-bed hospital and a railway station to transport pilgrims to the Prophet’s Mosque will also be constructed.

 

 

$16 BN PROJECTS FOR BAHRAIN

The Kingdom of Bahrain has cleared a total of 674 new infrastructure projects this year worth $1.6 billion. This is part of a major urban development thrust with emphasis on improved sustainable infrastructure. It is reported the funds will be utilised for development of projects which include hotels, buildings and residential properties.

 

 

OMAN RAIL BIDDERS SHORTLISTED

Work on the first phase of the Sultanate of Oman's 2,244 km national railway network is expected to get underway with the announcement of a shortlist of prequalified bidders for construction contracts by the Oman Railway Company.  ORC has selected a shortlist from 34 prospective bidders including 95 local and international companies for the 171km line from Sohar to Buraimi.  It is reported companies such as Alstom, Ansaldo STS, Bombardier, Siemens, and Thales are vying for the railway systems contracts.  Construction is slated to begin in the first quarter of next year.

 

 

RAIL ROUTE LAUNCHED IN INDONESIA

Authorities in Indonesia have launched construction of the first phase of a railway network on the island of Sulawesi. The line running north along the coast from Makassar, the provincial capital of South Sulawesi, to the port of Pare-Pare will be built at a total cost of $ 769 million inclusive of rolling stock.

 

 

 

BAHRAIN AIRPORT GETS LOCKHEED TOOL

US aerospace major Lockheed Martin has secured a contract with the Bahrain Airport Company to implement the route analysis tool for Bahrain International Airport. It is reported the BEONTRA B Route Development will help BAC in the calculation, analysis and presentation of high-quality route cases to airlines. This is the first time the technology will be used in the Middle East. The use of the technology will allow airports to develop and build route cases using data from Sabre MIDT and OAG schedule data, in addition to airport survey and statistical information.

 




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