Intilaqah trains 203 Omanis
The Intilaqah Programme, set up in Oman by Shell in 1997, has trained 318 Omanis so far, Director-General of Industries Dr Hamad Al Dhahab has said.
Another initiative, The Fund for the Development of Youth Projects, set up in 1998, provides equity participation in business projects to a maximum of 50 per cent, in addition to financial, economic, technical, marketing, administrative and organisational expertise through the fund's own experts.
Some of the projects that have been set up with the fund's assistance include an engineering garage, a small printing press and a seal manufacturing unit, a reptile and bird park, an Arabian auto painting machine, a paper factory, a fisheries project, a school, an auto garage, and a metal industries unit, Al Dhahab said in remarks recently.
Al Rajhi sign transfer agreement
Saudi Al-Rajhi International Contra-cting and the US' UOP Company have signed a licensing and technology transfer agreement for the construction of a $150 million normal paraffin plant in the Jubail industrial area.
As per the deal, UOP will provide technical information and knowhow for engineering design, construction, commissioning and operation of the plant, the Gulf News reported.
Mohammed bin Ibrahim Al Bibi, plant chief executive, said the Saudi Industrial Development Fund (SIDF) had approved $66 million loan for the new venture, which will have an annual capacity of 120,000 tonnes.
According to top officials, the company had also signed a feedstock supply agreement with Saudi Aramco Shell Refinery (SASREF) in April this year.
New power project commissioned
A SR350 million ($93.32 million) power project for Wadi Laban, west of Riyadh, has been commissioned.
An official of the Saudi Electric Company said more than 15,000 customers would benefit, the Riyadh Daily reports. Saudi contractors worked for two years on the project, which consists of power transfer lines, transformer stations and distribution networks.
For the present, power is being supplied to all 400 existing buildings in the area, he said.
British mission visits Oman
A British trade mission is visiting Oman as part of a regional tour, a report said.
The visit by the Sheffield Chamber of Commerce team is part of a two-week tour of Oman and the UAE, the Times of Oman said.
The 18-member mission is being led by John Whitehouse and represents areas such as training, environment engineering, diesel power generation, textile, fabric and garments, thermal insulation products, food industry, electrical switchgear and concrete products.
GPIC named as safest plant
Bahrain-based Gulf Petrochemical Industries Company (GPIC) has been named one of the safest plants in the world. The UK-based Royal Society for the Prevention of Accidents (RoSPA) has honoured GPIC with its International Sector Award, in recognition of its outstanding safety and health management and awareness.
GPIC won the award out of more than 200 leading international and British companies. General manager Dr Mustafa Al Sayed, who received the award on behalf of the company at a ceremony held in Glasgow, Scotland, said it was a great honour for Bahrain.
Dr Al Sayed described the award as an "outstanding milestone" in the history of GPIC, which had won international status not only in terms of health and safety achievements but also in all aspects of business-related performance measures.
Three-fold rise in investments
Investment in Dubai's manufacturing sector rose almost three-fold during the last 10 years, a report said.
The total investment touched Dh35.8 billion ($9.74 billion) in the year 2000, said a report in Khaleej Times, quoting data from the Dubai Chamber of Commerce and Industry (DCCI).
The manufacturing industry in Dubai, which was of the order of Dh12 billion in 1990, has witnessed remarkable progress during the past few years, said a chamber official. A total investment of Dh27.8 billion or 77.7 per cent was made by UAE nationals, the report said. The sector now employs a total of 84,000 workers with 15,000 working in the fabricated metal products industry and 8,000 working in the food products and beverages industry.
New board on way
A temporary executive council will run Dubai Refreshments Company until a new seven-member board of directors is elected during an annual general assembly meeting (AGM). "We have products that are still sold as normal and we are not here to make investment decisions," council member Mohsen Al Tajir said in remarks published in the Gulf News.
Company's profit doubles
Kuwait's National Industries Group said its profits from the first half of this year doubled to KD22.953 million ($75 million) from KD11.434 million in the same period last year. The Kuwait Stock Exchange said in a statement that earnings per share for the period rose to 41.9 fils, compared with 21 fils in the first six months of 2000.
The statement did not give a figure for the assets, which stood at KD330 million in the first half of last year. The company has several stakes and holdings in the Gulf region in addition to units operating in Western countries including Britain and the United States.
GIA gives licence to British firm
Saudi Arabia's General Investment Authority (GIA) has given a licence to the British Zinc Resources Company to produce 100,000 tonnes of high quality zinc, it was reported. The project will require a capital investment of SR958 million ($255.46 million), said a report in the Arab News. The authority said the British company would also establish a water purification plant and an electricity generating plant as part of the overall zinc project. The GIA has already issued 91 licences to both local and foreign companies to establish projects worth SR30.496 billion, with foreign capital accounting for 93.6 per cent or SR28.559 billion, the report said.
Foundry company reports growth
Kuwait Foundry Company has reported a 65 per cent rise in net profit in the first half of 2001 to KD1.326 million ($4.33 million), compared with KD802,441 in the same period last year. The Kuwait Stock Exchange said in a statement that earnings per share for the period rose to 88 fils, compared with 54 fils in the first six months of 2000. Kuwait Foundry produces sanitary items, water valves and pumps.
Dubai rejects 58 food items
Some fruit juices that failed to meet safety standards were among 58 food samples rejected by Dubai Municipality recently, according to Gulf News report. It also said the municipality's food and environment laboratory analysed 1,282 samples in July with rejected items accounting for 4.52 per cent of the tested samples. Some fruit juice samples from the 58 tested were rejected for the use of non-permitted colours. The juices were prepared in local restaurants and cafeterias. Tests on soft drinks to detect the use of non-permitted colours covered 50 samples and two of them were rejected.
MEFC to raise production
Riyadh-based Middle East Fibre Cable Manufacturing Company (MEFC) is planning to raise production to meet the global shortage. "We are planning to increase our output capacity by 100 per cent," general manager Hashem S Al Huneidi said. MEFC is the first cable company in the Kingdom to receive the ISO 9001-2000 certification, according to an Arab News report published recently. The firm, located in the third industrial township off Al Kharj Road, uses pre-formed rods as raw material for its products. MEFC exports of fibre optic cables increased from SR1 million in 1998 to SR8 million last year. The products are exported to the US, European Union and other countries.
Saudisation in full swing
A Saudi company has introduced a Saudisation programme aimed at training nationals for work on production lines at its factory. The Safola Company for Packing Systems said it designed the training programme after realising that the workforce needed was mostly in the production section as machine operators, the Arab News reported. "Therefore, we concentrated on practical aspects on training in housing and on qualifying training to prepre the trainees to accept responsibility in the production sector," said assistant general manager for management and training development, Dr Sameer Moha-Hussein. He said the trainees were holders of different technical and non-technical certificates. They were paid salaries and provided with meals during the training period. On completing their training they were appointed with tempting salaries.
