News

In brief

October 2014

ICD invests in Nigerian firm

INVESTMENT Corp of Dubai (ICD), the emirate’s sovereign wealth fund, is investing $300 million in  taking a minority stake in Nigeria’s largest cement manufacturer Dangote Cement, which is listed on the Nigeria Stock Exchange and part of the diversified conglomerate Dangote Group.

Dangote Cement has projects and operations in Nigeria and 14 other African states. Its total production capacity in Nigeria from its three cement plants is 20.25 million tonnes per year.

 

ODC repairs LNG vessel

OMAN Drydock Company (ODC) recently completed work on Ibra LNG, owned by Oman Shipping Company (OSC).

ODC said it is the first membrane containment LNG vessel to be repaired at the yard after ODC passed stringent tests to receive the GTT quality systems licence for LNG repairs.

ODC is based in Duqm, Oman’s port and logistics city.

 

Drake & Scull gets Qatar deal

DRAKE & Scull International (DSI) has announced that its engineering business Drake & Scull Engineering (DSE) has won a contract worth Dh110 million ($29.9 million) for a district cooling plant at Lusail City, which is being developed by Qatari Diar Real Estate Investment Company.

DSE Qatar will design and build the plant of 14,250 tonnes of refrigeration (TR) to supply chilled water to the early completed buildings in Lusail City by July 2015.

 

Sur investments touch $5bn

INVESTMENTS in “localised” projects in Oman’s Sur Industrial Estate, Eastern Region, have touched RO1.9 billion ($5 billion), a senior official says.

Requests for new projects there are being studied and an expansion of the estate area is on the cards, said Abdullah bin Khamis Al Mukhaini, its director general.

The number of factories in the enclave has reached 27 including those engaged in the fields of liquefied natural gas, urea, ammonia, cement products, marble, plastic bags and wooden furniture.




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