Siemens eyes Bahrain presence
International giant Siemens is eyeing a presence in Bahrain to better serve its growing business in the country and the region. The company sees excellent growth prospects in the GCC in the energy, health, industry and infrastructure sectors, said Siemens' Abu Dhabi-based managing director Joachim Kundt.
Siemens, which built the Riffa power station, Bahrain's first and largest power station, has been awarded a contract to modernise the power station and work is due to begin soon on the project.
Environmental survey completed
Bahrain, which imports huge quantities of chemicals for use in industries, has become the first country in the Middle East to complete a key environmental survey. The National Profile on Chemical Use and Safety is the result of a two-year study compiled by public and private sector organisations, said Environmental Affairs pollution control head Dr Afaf Al Sho'ala. The study has been submitted to the Geneva-based UN environmental agency, Global Environmental Facility (GEF). The report is a "complete assessment" that has identified, analysed and rated all possible uses of chemicals in Bahrain, said Al Sho'ala. The official said it was vital that Bahrain introduced a strategy that would ensure proper use and control of chemicals so that no harm ensued.
Egypt's pavilion was largest
More than 270 companies took part in the Saudi World Trade Fair 2002 held at the Riyadh Exhibition Centre.
About 250 local companies and 22 countries from Europe, Asia and the Middle East participated in the exhibition. Furniture, carpets, food and beverage technology, costumes and jewellery, lifestyle products, gifts, handicrafts and several other consumer items were on display. Egypt had the largest pavilion followed by Iran, which sent almost a dozen companies.
Biscuit firm's profits rise
National Biscuits Industries Limited (Nabil) has posted a 2001 net profit of RO311,700 ($809,000), up from RO171,600 for the previous year.
Sales rose to RO5 million from RO4.4 million and total assets increased to RO6.77 million compared with RO6.519 million during the period under review.
Plans in progress for show
Plans are under way for the forthcoming Chemtex & Corrosion 2003 expo.
The exhibition will run at the Dubai International Exhibition Centre from March 4 to 6.
Chemtex & Corrosion 2003 is the largest exhibition of its kind in the Middle East and is aimed at the chemical, petrochemical, process-technology and corrosion-control industries, organiser International Expo Consults said.
The Corrosion segment of the show covers technology, solutions, products and services related to corrosion control and monitoring.
Jenbacher gets contract
Jenbacher Fze, part of gas engine manufacturer Jenbacher AG of Austria, has been contracted by Drake & Scull International for the supply of three gas engine generator sets.
The contract, worth Dh6.5 million ($1.7 million), is the first to be signed by the company in the UAE since it opened its new regional office in Dubai in February.
PIC targets higher revenues
Petrochemical Industries Company (PIC) says it aims to increase revenues to KD1.2 billion ($3.9 billion) and increase the return on working capital to 15 per cent.
The company, which is a unit of state-owned Kuwait Petroleum Corp, said it would also raise the number of Kuwaitis on its workforce to 2,400, the Kuna news agency reported
Chairman and managing director Saad Al Shuwaib said the company briefed shareholders on the company's olefins and aromatics plants currently under construction.
The olefins plant will have an annual output capacity of 850,000 tonnes of ethylene, 450,000 tonnes of polyethylene and 650,000 tonnes of ethylene glycol.
Bank stops loans
Saudi Arabia's Agricultural Bank has decided to stop extending loans for dairy farm projects in the kingdom.
The measure is aimed at curbing losses suffered by dairy products producers due to a price war.
The step is in line with the decision of the Ministry of Agriculture and Water to stop issuing new licences for loans.
