Industrial complex planned for Riyadh
Plans are in progress to set up an industrial enclave in the capital of Saudi Arabia.
Saudi based Construction Products Holding Company (CPC) announced recently it would establish the complex to tap into the fast growing construction market. Dr Faysal Alaquil, director of business development at CPC, said the industrial complex would serve as a one-stop-shop to provide construction material and support services, thereby reducing the cost of managing a number of factories at different places.
Kuwait Cement profits
Kuwait Cement posted a first-quarter profit of KD15.6 million ($53.96 million), up more than three-fold from the same period a year earlier. It made KD4.7 million in the first-quarter of 2006. Earnings per share rose to 33.39 fils from 10.09 fils, the firm said in a statement on the Kuwait bourse website. There are 1,000 fils to the dinar.
Sinoma to build plant
China’s Sinoma International signed a deal with a private Yemeni-Saudi firm to build a 1.6 million tonnes per year (tpy) cement plant in the state, the firms said.
They said in a statement that the Yemeni-Saudi Cement Company would operate the plant, which is expected to cost $250 million. The project, to be set up in the southern province of Abyan, will be completed within 25 months starting from the agreement signing, the statement said.
Adnec Phase 2
Construction work has commenced on Phase 2 of the Abu Dhabi National Exhibition Centre (Adnec). The Dh580 million ($158 million) project will see the venue double in size to become the Middle East’s largest purpose-built exhibition centre with inter-connected exhibition floor space totalling more than 55,000 sq m.
Adnec distinctive U-shape design will be achieved by constructing five additional exhibition halls, a multi-purpose hall with seating for more than 5,000 people, 15 meeting rooms and two multi-storey car parks with space for more than 8,000 vehicles. Also incorporated in the design is an expansion of the Visitor Concourse, which will grow to 18,000 sq m to become the largest air-conditioned exhibition concourse in the world.
