ALUMINIUM Bahrain (Alba) released final sales and production figures for 2014 showing increases for both. Sales rose 1.3 per cent to reach 931,526 tonnes versus 919,722 tonnes in 2013 ahead of the company’s own forecast. Output was up 2.1 per cent to reach 931,427 tonnes versus 912,700 tonnes in 2013.
DUBAI International Capital (DIC) is launching the sale of German alumina products maker Almatis as the fund seeks to reduce its liabilities in the wake of a debt restructuring, three people familiar with the deal said, reports Reuters. DIC has mandated Barclays to explore the options of the possible divestment, the people said.
DUBAI Aluminium (Dubal) has completed its $1.8 billion seven-year loan, the first facility which the company has raised to fund its general business purposes in two decades, banking sources said, according to Reuters.
FOLLOWING the entry of the new Saudi aluminium producer, Ma’aden, and expansions in other plants, there has been a significant surge in the Gulf’s primary aluminium production, the Gulf Aluminium Council (GAC) has highlighted.
THE UAE has become the third largest producer of crude steel in the Middle East region with an output of 2.1 million tonnes in the first 11 months of 2014, according to recent figures released by the World Steel Association.
AN ORGANISATION dedicated to renewable energy has concluded that the cost of generating power from that kind of resource has reached parity or dropped below the cost of fossil fuels for many technologies.
OMAN’S Public Establishment for Industrial Estates (PEIE) highlighted investment opportunities in its various enclaves in the presence of commercial attachés’ representatives in the sultanate.
THE Gulf market for wire and cable witnessed growth of 15 per cent in the past two years. This is in sharp contrast to a falling demand in the developed European and East Asian economies, according to Integer Research’s latest Wire and Cable Global Data Service.
DUBAI Investments (DI), an investment company listed on the Dubai Financial Market, has announced expansion plans across its diversified portfolio, which includes two new acquisitions worth Dh400 million ($108.9 million).
THE Hamriyah Free Zone Authority (HFZA) has said its participation in The Partnership Summit 2015 in Jaipur, Rajasthan, India, was a successful move. The three-day international investors’ meet was organised by the Confederation of Indian Industry (CII) and the Ministry of Commerce and Industry of India.
ASRY, the leading ship and rig repair yard in the Arabian Gulf, has signed an agreement with the Ministry of Labour in which the company will employ 15 jobseekers, who are graduates of the technical secondary level and have participated in the ministry’s “Assistant Electrical Maintenance”, programme falling within its scheme, &ldq
KUWAIT’S Equate Petrochemical Company has announced it has boosted sales to local plastic companies by 400 per cent since 1998. The company is Kuwait’s first international petrochemical joint-venture.
ABB, the power and automation technology group, participated at the World Future Energy Summit 2015 (WFES) in Abu Dhabi showcasing a host of solar and energy-efficiency products and solutions.
ABB has won an order worth around $28 million to supply an electrical Balance-of-Plant (eBoP) solution for a new independent water and power producer (IWPP) project in the UAE. The order was placed in the fourth quarter of 2014 by Hyundai Engineering & Construction, the engineering procurement and construction (EPC) contractor for the project.
Airbus workshop held AIRBUS, in partnership with Emirates Airline, held its newest Little Engineer A380 workshop at the Emirates Engineering Centre. The two-day event welcomed 100 students, introducing them to the world of aviation.