Samsung secures EPC contract for Emirates Biotech plant
Samsung E&A, a total solutions provider for the global energy industry, said it has been signed up as the main contractor by Emirates Biotech for a polylactic acid production plant in UAE.
The strategic project, officially named Falcon PLA Project, will deliver a cutting-edge facility producing a biodegradable and environmentally friendly plastic alternative, thus solidifying Emirates Biotech commitment to environmental responsibility and innovation.
A total solutions provider for the global energy industry, Samsung E&A said it was selected as the sole partner for the project due to its unrivalled track record of bringing these innovative but complex industrial projects to fruition.
The project scope includes overseeing all engineering, procurement and construction work, ensuring that it progresses smoothly and aligns with the planned schedule and budget.
Samsung E&A said the pre-EPC contract, covering the initial phase of the collaboration, was signed yesterday (April 14) at Emirates Biotech's head office in the UAE.
On the contract award, Emirates Biotech CEO Marc Verbruggen said: "Selecting Samsung E&A as our contractor is another significant step toward making our vision a reality. With their extensive expertise in delivering world-class engineering projects, we are confident that this collaboration will ensure the seamless integration of technology into our PLA production facility."
"The Falcon PLA Project will not only set new benchmarks for scale and efficiency but will also play a key role in providing industries with a viable, sustainable alternative to fossil-based plastics. As we move closer to construction, we are excited to see our plans take shape and contribute to the global shift toward a circular economy," stated Verbruggen.
Emirates Biotech recently selected Sulzer as the technology provider for its PLA plant and Samsung E&A will ensure the Sulzer technology and proprietary equipment will be integrated flawlessly into the PLA production facility.
The plant, to be located in the Kezad free zone in Abu Dhabi, is expected to be operational in early 2028.
Hong Namkoong, President and CEO of Samsung E&A, said: "With our extensive project experience and advanced design technology, we continue to achieve outstanding results in high-
value engineering."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
28-05-2025
- Trade Arabia
MENA records 225 M&A deals worth $46bn in Q1
The MENA region witnessed 225 mergers and acquisitions (M&A) deals in Q1 2025, up from the 172 deals recorded in Q1 2024, reflecting a 31% increase in deal volume when compared year-on-year. Total deal value rose by 66% to $46 billion in Q1 2025, when compared to $27.6 billion in Q1 2024, said the latest EY MENA M&A Insights 2024 report. Cross-border deals were the primary driver of M&A activity in the MENA region, contributing 52% of total deal volume with 117 deals and 81% of total deal value at $37.3 billion. The first quarter of 2025 recorded the highest cross-border deal activity both in volume and value when compared to the same period in the past five years, as companies increasingly pursued growth and diversification beyond domestic markets. Brad Watson, MENA EY-Parthenon Leader, says: 'In 2024 we saw a steady flow of M&A deals and the MENA region continues to exhibit a robust influx of M&A transactions in 2025. This is supported by regulatory reforms, policy shifts, and a favorable macroeconomic outlook, including easing interest rates and improved investor sentiment.' 'This growth is also reflected in the steady increase of domestic M&A activity, which contributed 48% of total deal volume in Q1 2025. The rise in domestic M&A transactions aligns with the IMF projection that MENA GDP will grow by 3.6% this year and is further supported by the strong global M&A momentum. Companies are realigning their strategies to better accommodate the need for diversification, digital transformation, and the integration of emerging technologies.' In the MENA region, the UAE remained the top target country with 63 deals totaling $20.3 billion in Q1 2025. Kuwait ranked second in terms of deal proceeds, reaching $2.3 billion, driven by two major transactions in the Diversified Industrial Products and Power & Utilities sectors. During the first three months of 2025, Canada attracted the highest outbound deal value from MENA investors at $6.4 billion, while the US remained the preferred target destination in terms of deal volume. Sovereign Wealth Funds (SWFs) like ADIA, PIF, and Mubadala, along with other government-related entities (GREs), remained key M&A drivers in Q1 2025, aligning with national economic strategies and diversification goals. Domestic M&A activity rise In the first quarter of 2025, M&A activity in the MENA region witnessed a 20% increase in deal volume while deal value rose significantly reaching $8.7 billion as compared to $1.69 billion recorded in Q1 2024. The technology sector led domestic M&A activity in MENA in Q1 2025, contributing 37% of total domestic deal value and 27% of total domestic deal volume. The largest domestic deal during the first quarter of the year was a $2.2 billion acquisition where Group 42, an Abu Dhabi based AI and cloud computing firm, agreed to acquire a 40% stake in Khazna Data Centres, a digital infrastructure provider. Intraregional deals involving the UAE, Kuwait, and Saudi Arabia (KSA) accounted for 83% of total domestic deal value and 56% of total domestic deal volume, highlighting strong intraregional M&A activity, particularly in the technology, industrials, and real estate sectors. MENA region remains an attractive The MENA region continues to emerge as one of the most attractive destinations for foreign direct investment during the first few months of 2025, with inbound deal volume surging by 21% and deal value reaching $17.6 billion, when compared to $2.5 billion in Q1 2024. The UAE remains the leading destination for foreign direct investment in the MENA region in Q1 2025, capturing 53% of total inbound deal volume and 99% of the total inbound deal value. Austria was the top investor country, accounting for 94% of total inbound deal value, largely driven by a major transaction in the chemicals sector. Diversification efforts During the first three months of 2025, outbound deal volume increased by 63% when compared to Q1 2024, with a total deal value of $19.7 billion, contributing 43% of overall deal value. The UAE and KSA led the outbound investment from the MENA region, accounting for 77% of total deal volume and 94% of total outbound value. Though chemicals and oil & gas dominated in outbound deal value, outbound deal volume was primarily focused on technology, diversified industrial products, and professional services. This trend reflects the region's broader diversification strategy into high-growth global sectors. The UK was the leading destination for outbound M&A deals from MENA by volume, recording 13 transactions in Q1 2025. Canada and Peru together contributed 50% of total outbound deal value driven primarily by a major transaction in Canada's chemical sector. ADNOC and Austria's OMV AG has agreed to acquire Canada's Nova chemicals for US$6.3b by holding 46.94% each in the newly formed Borouge International Group. Anil Menon, MENA EY-Parthenon Head of M&A and Equity Capital Markets Leader, says: 'The MENA deal markets remained resilient despite lack of clarity on two fronts: the impact of monetary policy on cost of capital and the ongoing tariff and trade discussions. The MENA deal book for the remainder of 2025 is promising and we can expect to see increased activity in consumer, technology, and energy sectors. In addition, with AI expected to drive material shifts in fundamental value, we can expect to see significant capital allocation in technology.' -TradeArabia News Service
Biz Bahrain
27-05-2025
- Biz Bahrain
Bahrain's AI Sector Witnesses 17% Annual Growth, Paving the Way for Retail
Innovation Bahrain is experiencing a robust surge in artificial intelligence investments, with AI adoption in the retail and marketing sectors growing at an estimated 17% annually. This technological leap is helping redefine how businesses communicate with consumers, moving beyond traditional advertising to real-time, data-informed storytelling. The A&M Awards hosted by FancyTech spotlighted this transformation, honoring brands that have embraced AI-driven marketing innovation. While FancyTech played a supportive role in the event, its influence was unmistakable—pushing the boundaries of what's possible in digital marketing. FancyTech's end-to-end content platform allows brands to generate multiple creative variations using automated tools. For Bahrain-based marketers, this means achieving greater campaign diversity and speed without increasing costs. The impact is clear: brands are now able to test, adapt, and respond in ways that were previously impractical or expensive. 'Artificial Intelligence is a key pillar of Bahrain's Economic Vision 2030. We are empowering industries to adopt AI through national frameworks and training programs,' – Bahrain Economic Development Board. 'Marketing powered by AI helps brands break free from one-size-fits-all content. We're seeing the impact of hyper-personalization across the Gulf,' said William Li, CEO of FancyTech. Retail businesses across Bahrain are aligning their strategies with consumer expectations for relevance and immediacy. AI is empowering teams to deliver personalized messages that speak to specific demographics—on social media, web, and offline platforms. FancyTech's quiet but strategic presence is contributing to a growing ecosystem of innovation in Bahrain's digital economy. The awards also highlighted the efficiency gains that AI brings. Traditional production cycles are being replaced by streamlined, intelligent systems that reduce manual workload and improve creative agility. For smaller businesses and startups in Bahrain, this creates a level playing field—where quality content no longer depends solely on big budgets. As the country accelerates its national digital agenda, tools like those offered by FancyTech are becoming vital for staying competitive. The company's model of smart automation, paired with human insight, is setting a new standard in marketing execution. The A&M Awards revealed that Bahrain is ready—and already on its way—to becoming a beacon of AI-powered brand transformation in the region.
Biz Bahrain
15-05-2025
- Biz Bahrain
American Express Middle East Celebrates 30 Years of The Platinum Card® with New Exclusive Benefits
American Express Middle East is celebrating the 30th anniversary of The Platinum Card® in the region unveiling exclusive benefits designed to align with the evolving aspirations of its Card Members. To celebrate this milestone, Platinum Card Members are invited to enjoy two exclusive benefits until December 31, 2025 — a new dining experience and an enhanced retail offer, providing even greater value: • Platinum Card Members can enjoy up to US $200 dining credit per year at more than 300 restaurants across the UAE, Qatar, Bahrain, Oman, and Kuwait. • Platinum Card Members with a passion for fashion can now enjoy a US$ 200 statement credit per year at Net-A-Porter and Mr. Porter— double the previous value of US$ 100). All new Platinum Card Members who successfully apply for and receive their Card in 2025 will also enjoy a welcome offer of a statement credit of up to US$ 250 and a bonus of up to 50,000 Membership Rewards® points . 'For 30 years, The Platinum Card has set the bar for premium cards in the Middle East,' said Mazin Khoury, CEO at American Express Middle East & North Africa. 'We're marking this milestone by introducing exclusive Card benefits across dining and retail, designed to enhance the lifestyle of Platinum Card Members and connecting them to what they love.' Three Decades of Defining Premium Experiences While the new benefits celebrate the 30th anniversary of The Platinum Card®, its legacy in the Middle East over the past three decades remains defined by a suite of existing premium privileges. These benefits reaffirm ThePlatinum Card's commitment to delivering convenience and extraordinary experiences for Card Members. • Complimentary Airport Lounge Access: Eligible Card Members can access over 1,400 airport lounges worldwide through the American Express Global Lounge Collection. • Comprehensive Insurance Coverage: Offers up to US$ 1 million in travel insurance coverage. • 24/7 Concierge Service: Dedicated concierge service available 24/7 to assist with travel planning, reservations, and more. • Fine Hotels + Resorts Program: Exclusive benefits in 1,600 properties worldwide such as daily breakfast for two, room upgrade upon arrival when available, $100 credit towards eligible charges (which vary by property), guaranteed 4pm late checkout, and noon check-in when available. • Membership Rewards Program: Points never expire and can be redeemed across a wide range of partners. Points can also be used toward eligible purchase made on the Card and can be used for redemption at any time. Discover the exclusive benefits of the American Express Platinum Card: Terms and Conditions apply
