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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Iraq set to award new Faw Port deals

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Iraq set to award new Faw Port deals

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      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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      Miral’s premier Abu Dhabi waterfront project work on track

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        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        JGC lands $3.7bn Iraq refinery upgradation project deal

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        Tadweer opens phase 2 of solar power plant at Al Dhafra

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        France to help Iraq generate electricity, will invest in education, science: Macron

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Qatar’s hospitality sector peaks despite turbulent 2020

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          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Hyundai Engineering in $3.2 Billion Iran Deal

              Financial Tribune

              March 13, 2017
              in Oil & Gas
              0
              South Korea's Hyundai Engineering Co. (HEC) signed an agreement on Sunday for financing and constructing the second phase of Kangan Petro Refining Complex — a major petrochemical and refinery project in southern Bushehr Province.
               
              The engineering, procurement, construction and financing (EPCF) agreement, worth €3 billion ($3.2 billion), was signed in Tehran by the HEC and Ahdaf Investment Co., the majority stakeholder in the Kangan project. Ahdaf is a subsidiary of Iran's Oil Pension Fund Investment Co., Shana reported.
               
              As per the agreement, 95% of the funds will be provided by Hyundai through South Korean financial institutions, according to Asghar Arefi, the chief executive of Ahdaf.
               
              "Financing will begin in nine months," Arefi said, adding that the complex is expected to become operational in four years.
               
              The complex is set to receive natural gas from Phase 12 of the South Pars field in the Persian Gulf for producing 400,000 tons of heavy polyethylene and 350,000 tons of light polyethylene a year in the second development phase.
               
              The project's first phase is designed to produce ethane, propane, butane and naphtha. A total of €120 million has been invested in Kangan's first phase which has made 30% progress.
               
              "We are happy to seal the deal (for Kangan project) following a preliminary agreement that was signed in Tehran in May," Sung Sang-rok, Hyundai Engineering CEO, was quoted as saying by Shana.
               
              HEC was established in 1974. The Seoul-based company provides comprehensive engineering and construction services for plant and infrastructure projects. It covers the entire project life cycle, including feasibility study, basic and detailed design, procuring, commissioning and operation, and maintenance.
               
              — Several in the Pipeline
               
              At least seven major petrochemical complexes are planned to go on stream in the first half of the next fiscal year (starts March 21), coordination and supervision director of the National Petrochemical Company said on Sunday.
               
              "Phase 2 of Kavian Petrochemical Complex with an annual production capacity of 1 million tons and Phase 2 of Morvarid Petrochemical Company with 550,000 tons, Entekhab petrochemical complex with a capacity of 250,000 tons, Phase 3 of Pardis Petrochemical Company with 1.7 million tons in annual output, Kaveh Methanol Company with 2.3 million tons, a Kurdistan plant with an annual capacity of 3,000 tons and the Takht-e-Jamshid Complex are among the main petrochemical projects due to be fully operational by August," Ali Mohammad Bosaqzadeh was quoted as saying by Mehr News Agency.
               
              He said three production units in Bushehr Petrochemical Complex and Marjan Methanol Plant in Phase 2 of South Pars in Asalouyeh will become operational by the end of this year.
               
              Annual petrochemical output is close to 65 million tons, but plans are in place to boost the capacity by 40 million tons over the next five years.
               
              By 2026, installed petrochemical output capacity is set to reach 140 million tons.
               
              Bosaqzadeh added that Iran has signed memoranda of understanding with the French oil and gas giant Total and Germany's Linde Group, stressing that the agreements are expected to be finalized n the coming months.
               
              According to Marzieh Shahdaei, the NPC chief, Iran exported 10 million tons of petrochemicals, worth $9 billion, in the first 10 months of the current fiscal year.
               
              "The lion's share of outbound petrochemical consignments went to Asia, Europe and South America," she said, adding that export of petrochemicals saw a rise in terms of weight compared with the same period of the previous year, but declined in value.
               
              Reportedly, Iran holds 38% of the petrochemical market in the Middle East, but only produces 4.8% of the world's petrochemicals despite sitting on some of the world's largest crude oil and natural gas reserves.
               
              Financial Tribune
              13 March
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