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Orascom Construction Industries (OCI) has confirmed today that Belgian company BESIX Group (50 per cent-owned by OCI) has been awarded a US$ 265mn contract to build the North Manama causeway in Bahrain in a joint venture with the Haji Hassan Group. BESIX Group?s share of the contract is approximately US$203mn or 78 per cent of the total contract value.
Al Mashaaer Al Mugaddassah Metro Line Project, also known as the Mecca Metro, is in its final stages of construction and is to be tested for the first time on Sunday, August 1st according to Fahd Tarboush, director general of the project. On completion the line will link the holy city to Mina, Muzdalifah and Arafat, will cover 18 km and will include eight cabins in each direction.
Adhesives, sealants and chemical products manufacturer for buildings, Mapei, has announced that it is to set aside 70 per cent of its annual R&D budget, amounting to US$105.5mn, for the development of eco-friendly construction products and materials. The company says that this will not only reduce waste but also improve installation efficiency onsite. The move is intended to support new UAE government policies on sustainability and environmental protection.
p>Adhesives, sealants and chemical products manufacturer for buildings, Mapei, has announced that it is to set aside 70 per cent of its annual R&D budget, amounting to US$105.5mn, for the development of eco-friendly construction products and materials. The company says that this will not only reduce waste but also improve installation efficiency onsite. The move is intended to support new UAE government policies on sustainability and environmental protection.
Integrated engineering specialist, Drake & Scull International (DSI) has reported US$11.4mn in net profit for the first quarter of 2010 and revenues of US$105mn.
An Iraqi official has said that negotiations between the Iraqi National Investment Commission (INIC) and several UAE real estate developers and investment companies on large-scale projects in different parts in Iraq have reached "advanced stages". Sami Al Araji, chairman of INIC told Gulf News the projects under negotiation are worth nearly US$70 billion and that the talks are expected to be finalised in the near future.
