Saudi-Japan tie-ups planned
Saudi Arabia and Japan are considering boosting cooperation in setting up medium- and small-scale ventures using Japanese technology, a report said.
A meeting was held recently between Saudi and Japanese officials to get acquainted with the best means to develop the ventures, said a report in Arab News quoting a government official.
The Council of Saudi Chambers of Commerce and Industry is keen to cooperate with the industrial countries and benefit from their expertise to beef up the small-scale industries, it said. Small-scale industries represent 90 per cent of the total projects in the Kingdom, the report said. Japan is the second largest investor in Saudi Arabia after the US.
Chemstore project unveiled
The Emirates National Oil Company (Enoc) and the Dutco Group subsidiary Modern Freight Company (MFC) have announced a joint venture project to build Chemstore, Dubai's first state-of-the-art, third-party hazardous chemicals warehousing facility.
The Dh3.5 million ($0.95 million) warehouse project, to be based at the Jebel Ali Free Zone, will meet UAE government environmental standards.
Operations at the 2,740 sq m warehouse are likely to begin during the first quarter of 2002.
The handling capacity of the warehouse is between 2,500 and 17,000 drums depending on the hazard level of the chemicals.
Chemstore will also feature advanced safety standards, including fire-fighting and spillage containment systems.
The facility will include a separate modern office unit housing management, inventory control processes and related functions.
Offer for auto training conveyed
An Indian company has offered to set up an automobile training centre in Bahrain.
Two experts from the Bangalore-based M S Ramaiah Institutions presented their proposal at a presentation at the Labour and Social Affairs Ministry.
M S Ramaiah Polytechnic principal N S Rama Rao and Government S J Polytechnic automobiles department retired head D R Badrinath said the proposed centre would offer general training in all branches of car mechanics, as well as intensive training in specific fields such as engine, brake system and painting.
Labour and Social Affairs Ministry manpower development director Ahmed Al Banna said the Indian experts would now hold talks with various automobile dealers in Bahrain to get an idea of employers' expectations.
Sotuver to open new plant
Leading Tunisian glass manufacturer Sotuver has said that it is investing 45 million dinars ($31.9 million) to open a new plant that will boost its production capacity by almost 100 per cent.
A company official said that the firm would close its old plant and open the new plant in Jbel Ouest, south of Tunis.
The new plant will be fitted with two production lines which would increase the daily output capacity from 120 to 230 tonnes, he added.
Sotuver is the first glass manufacturer in Tunisia with a 70 per cent domestic market share.
Around 87 per cent of its output is directed to the local market, mainly to soft drinks firm SFBT.
The remainder is exported mainly to neighbouring Libya.
Adewa to set up power firm
The Abu Dhabi Electricity and Water Authority (Adewa) will set up a joint venture power generation company with International Power and CMS for the 1500mw Al Shewhat power project before the end of the year, according to an Adewa official.
Adewa will own 60 per cent stake in the company, with the rest being shared by International Power and CMS. The initial cost of the project is estimated at Dh685 million ($186.5 million). The cost of the project is estimated at Dh6 billion, 75 per cent of which will be raised through international financial firms.
Mineral water plant to open soon
The Jana Group is set to begin production of mineral water at its high-tech plant in Bahrain.
The company recently entered the Bahrain market with a 3,000 sq m supermarket, Jana Centre, in the Hoora area. The Jana Mineral Water plant is fully equipped with PET production equipment so that all the bottles will also be manufactured on-site, the company said. The expected production rate is expected to be 350,000 units in sizes of 200 ml, half litre, one-and-a-half litres, two litres, one US gallon and five gallons.
The company also plans to produce juices and ice cube at this plant.
The product will meet stringent quality standards, while the price will be very competitive, the Jana Group said. Once the plant is fully established the company hopes to export its product throughout the GCC.
Valentine Maritime bags contract
Abu Dhabi-based Valentine Maritime Gulf has bagged a $5 million sub-contract from Iranian Offshore Oil Co for the installation of new facilities at Bandar Assaluyeh.
The 80-day contract covers the installation of a 3.4-km long, 30-inch diameter, subsea pipeline, for the export of condensates and a single point mooring calm buoy capable of handling vessels of up to 100,000 dwt, the Gulf News reported.
The design work for the new facilities has been prepared by Kvaermer E & C, with the local Oil Industries Engineering & Construction.
The project is part of the second and third phase of development at the South Pars Field. It is being carried out by the local Petro Pars, a subsidiary of the National Iranian Oil Co.
Valentine Maritime is also among the prospective bidders for a project to supply and install in-field flow lines at the offshore Abuzar oilfield.
GIB finance for power plant
Gulf International Bank (GIB) has said it would make a $100 million bridge loan to Bahrain to partly finance a power plant in the Gulf state.
A GIB statement said the agreement was signed by Finance and National Economy Minister Abdullah Saif. It gave no details of the financing terms. "The facility will be used to finance part of the Hidd power station project phase II.
The proceeds from this facility will be covered from medium-term financing which the ministry is currently arranging with a group of domestic and international banks," the statement said.
Bahrain in September signed a $300.4 million contract with French group Alstom Power to build the 700-megawatt power plant.
The plant, the biggest in the country, will be built at the industrial city of Hidd. It will be built in three stages and be fully operational in 2004.
