Descon secures engineering services contract for Tasnee projects
Abu Dhabi-based Descon Engineering Arabia has announced that it has secured a multi-year general engineering services (GES) contract from Tasnee, one of the largest producers of petrochemical products in Saudi Arabia.
This is the group's first major contract win in the Kingdom of Saudi Arabia, said Descon in a statement.
As per the deal, it will provide basic engineering, Front-End Engineering Design (FEED) and detailed design services to support Tasnee's key projects in the kingdom over the next three years.- TradeArabia News Service
Tags:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
2 hours ago
- Trade Arabia
Park Rotana, Park Arjaan by Rotana win big at Haute Grandeur Global Hotel Awards
Park Rotana and Park Arjaan by Rotana have announced their outstanding achievements at the Haute Grandeur Global Hotel Awards 2025, securing two major accolades that reaffirm their leadership in the hospitality sector. As five-star properties renowned for delivering exceptional guest experiences, Park Rotana and Park Arjaan by Rotana continue to lead Abu Dhabi's hospitality scene. Park Rotana earned the title of 'Premier Corporate City Hotel', reaffirming its status as a top destination for discerning business travellers in the UAE capital. Simultaneously, Park Arjaan by Rotana was honoured with the award for 'Best Contemporary Hotel', recognising its sophisticated design, upscale residential-style accommodation, and consistently high standards of service. 'These awards are a true reflection of the dedication, passion, and consistency our team delivers every day,' said Eleni Tsolakou, General Manager of Park Rotana Complex. 'It's a proud moment for all of us to see both properties recognised among the best in the industry.' The Haute Grandeur Global Hotel Awards are internationally regarded for celebrating excellence across the hotel industry, honouring properties that consistently deliver outstanding hospitality experiences.
Trade Arabia
3 hours ago
- Trade Arabia
Al Seer Marine, B International Logistics launch new shipping JV
Al Seer Marine, a global maritime organization headquartered in Abu Dhabi, said it has partnered with B International Shipping & Logistics, an affiliate of top Geneva-based energy trader BGN, to launch a joint venture 'ASBI Shipping FZCO.' This new joint venture will own and operate mid-sized liquefied petroleum gas (LPG) and product tankers, strengthening regional and global LPG logistics. ASBI Shipping had acquired two 22,000 cbm semi-refrigerated LPG tankers (Alkaid and Alcor) which are backed by a 10-year charter with BGN INT DMCC, a subsidiary of BGN that trades over 50 million metric tonnes of commodities annually. The deal guarantees AED660 million (US$180 million) in revenue through 2035. On the deal, Al Seer Marine CEO Guy Neivens said: "The global energy landscape is evolving rapidly, reshaping how countries manage their supply chains. Ensuring diversified and resilient access to critical commodities has become a strategic priority." "This transformation is driving increased demand for smaller, more flexible LPG vessels that can efficiently serve regional hubs and infrastructure-constrained ports," he stated. "To address this opportunity, we established ASBI Shipping FZCO as a joint venture with B International Shipping & Logistics. This reflects our strategy to pursue platform-based growth — enabling us to scale efficiently, extend our reach into niche segments, and partner with financial and operational stakeholders to respond more effectively to shifting market conditions," he added. Abu Dhabi Commercial Bank (ADCB) provided AED210 million ($57.2 million) in senior secured term financing with a seven-year tenor. The facility is secured against the vessels and their cashflows, reflecting confidence in ASBI's commercial viability. Rüya Bayegan, BGN group CEO said: "Our charter with ASBI aligns with BGN's focus on securing transition fuel supply chains. Smaller vessels are indispensable for ports lacking VLGC infrastructure, and we anticipate further collaborations." Mid-size vessels like Alkaid and Alcor are critical for servicing emerging hubs in Africa, South Asia, and Southeast Asia, where 30 percent of LPG shipments now rely on sub-30,000 cbm carriers. Featuring, semi-refrigerated systems, and high-standard safety features, Alkaid and Alcor are well suited to transport propane, butane, ammonia, and other petrochemical cargoes. ASBI Shipping plans to expand its fleet to meet this growing demand for flexible mid-size carriers in these vital markets. Ozan Turgut, B International Shipping & Logistics Director, said, "With over 38 vessels under management, we bring decades of gas carrier expertise to this JV. These vessels are tailored for fragmented markets, where demand for flexible tonnage has surged 10 percent year-on-year in Southeast Asia alone." "We see this as a unique market window and intend to grow ASBI's fleet to meet regional demand and become a global leader in this specialised segment," he noted. By partnering with technical operators and financial institutions, Al Seer Marine continues to implement a capital-efficient expansion model that balances growth, income stability, and long-term asset value.
Trade Arabia
2 days ago
- Trade Arabia
ADIO, Metal Park to set up 4IR competence centre in Abu Dhabi
The Abu Dhabi Investment Office (ADIO), in partnership with Metal Park Investment Middle East, announced the establishment of a dedicated Industry 4.0 Competence Centre in Abu Dhabi. The advanced technology hub will play a central role in accelerating the digitalisation of the metal manufacturing sector, supporting the emirate's ambition to lead globally in next-generation industrial innovation. The Centre reflects a shared commitment to enabling manufacturers with Industry 4.0 technologies, empowering businesses to thrive in an increasingly digital and data-driven industrial landscape. The facility spans over 5 million sq ft within Metal Park's purpose-built industrial zone in Kezad, located approximately 8km from Khalifa Port. The centre is exclusively tailored to the needs of the metal manufacturing value chain, offering specialised infrastructure and digital environments to enable rapid prototyping, pilot testing and scale-up for Industry 4.0 applications. As a gateway to Abu Dhabi's dynamic industrial ecosystem, the Competence Centre will provide a robust platform for the development, testing and scaling of technologies such as robotics, the Industrial Internet of Things (IIoT), predictive maintenance, digital twins, AI-enhanced production optimisation and autonomous logistics, said the statement from ADIO. The Centre will also serve as a centre of excellence for capacity building, equipping the workforce with the skills required to operate in a digitally-enabled industrial future. The initiative aligns with the Abu Dhabi Industrial Strategy (ADIS), and the Centre is poised to play a critical role in contributing directly to the strategy's objective of doubling the manufacturing sector's GDP contribution to AED172 billion by 2031, it stated. Mohammad Al Kamali, Chief Industry & Trade Officer, ADIO, said: "Abu Dhabi is entering a new era of economic transformation where innovation, sustainability and advanced technology define our industrial future." "This partnership with Metal Park exemplifies how ADIO empowers the private sector to scale globally competitive operations from Abu Dhabi," he stated. Saleh Shahrestani, Chairman of Metal Park, said: "The Competence Centre will be a cornerstone of technological progress in the regional metal industry. Together with ADIO, we are creating an enabling environment for industrial players of all sizes to develop, validate and implement cutting-edge solutions that augment Abu Dhabi's role as a leading global hub for advanced manufacturing."
