
Drake & Scull subsidiary wins $58.5mn wastewater treatment project in Jordan
The North Balqa project will significantly enhance wastewater treatment infrastructure in the north-eastern Balqa Governorate. Once fully operational, the facility will have a treatment capacity of 54,000 cubic meters per day, with the first phase delivering a daily capacity of 36,000 cubic meters.
The North Balqa project scope includes design and engineering; supply and delivery of equipment; testing and commissioning; and one year of operation and maintenance that will follow the first phase.
The Water Authority of Jordan (WAJ), chose Passavant for the project, which is valued at JOD41.5 million (approximately AED215 million/US$58.5 million). The project is financed by the Agence Française de Développement (AFD) and the European Union's Neighborhood Investment Platform (EU-NIP).
It will feature cutting-edge technology to convert waste into electrical energy, reinforcing Jordan's long-term sustainability and energy efficiency objectives.
Muin El Saleh, Group CEO of Drake & Scull International, commented: 'This project reflects our commitment to driving environmental sustainability through innovation. With a proven track record in executing water and wastewater projects across Asia, Africa, and Europe, Passavant brings global expertise to this vital initiative.'
The project includes an integrated wastewater treatment plant, a terminal pumping station, effluent treatment units, sludge treatment tanks, water distribution pipelines, and an advanced odour control system. The treated effluent will be transferred to the King Talal Dam, supporting agricultural reuse in the Jordan Valley.
Mokhtar Haddad, Director of Passavant Energy & Environment, added: 'Being selected as the main contractor for this strategic project is a testament to Passavant's global reputation for excellence in water and wastewater treatment solutions.
'This award reflects our unwavering commitment to engineering innovation, operational reliability, and environmental stewardship. We are proud to contribute to Jordan's national goals of sustainable resource management and look forward to delivering a facility that sets new benchmarks for efficiency, resilience, and long-term impact.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
an hour ago
- Zawya
Companies plan stablecoins under new law, but experts say hurdles remain
Financial companies from Bank of America to Fiserv are preparing to launch their own dollar-backed crypto tokens now that a new U.S. law has established the first-ever rules for stablecoins, but experts warn the path forward could be anything but simple. U.S. President Donald Trump on July 18 signed the GENIUS Act into law, setting federal rules and guidelines for cryptocurrency tokens pegged to the U.S. dollar known as stablecoins. This U.S. law, the first designed to facilitate crypto usage, could pave the way for the digital assets to become an everyday way to make payments and move money, experts said. The use of stablecoins, designed to maintain a constant value, usually a 1:1 U.S. dollar peg, has exploded in recent years, notably among crypto traders moving funds to and from other tokens, such as bitcoin and ether. Now, a slate of companies are entertaining their own stablecoin strategies to capitalize on the promise of instant payments and settlement that stablecoins offer. Payments on traditional banking rails can take several days to arrive, or take even longer across international borders. Among the companies considering stablecoins are Walmart and Amazon, the Wall Street Journal reported in June. Walmart and Amazon did not immediately respond to requests for comment. However, the new law will not immediately open the floodgates, experts said. The newfound opportunity to dabble in stablecoins can lead to numerous tricky considerations for firms, both strategic and technical. Companies have to embark on a lengthy process to deploy their own stablecoins, or decide whether it makes more sense to integrate existing stablecoins, like issuer Circle's USDC, into their business. Companies first have to decide the purpose of their stablecoins. For example, a retail platform could make a stablecoin available to customers to buy goods, which could appeal to crypto-savvy users. Some companies could use them internally for cross-border payments, given that stablecoins can enable near-instant payments, often with lower fees. How a company plans to use a stablecoin could affect whether it creates a stablecoin or works with a partner. "The intended use is going to matter a lot," said Stephen Aschettino, a partner at Steptoe. "Is this something really designed to drive customers to engage with the issuer, or is the issuer's primary motivation to have a stablecoin that is more ubiquitous?" For nonbanks, stablecoins will bring new compliance costs and oversight requirements, given that the GENIUS Act requires issuers to comply with anti-money laundering and "know your customer" (KYC) requirements. "Those that already have robust KYC risk management and regulatory change management programs or working towards implementing these program elements may have a competitive advantage," said Jill DeWitt, senior director of compliance and third-party risk management solutions at Moody's. One group likely to enjoy that advantage is banks, which are no strangers to screening for sanctions-related risks and verifying the identities of their customers. Bank of America and Citigroup are actively considering issuing their own stablecoins, the CEOs of both banks said in earnings calls last month. Others like Morgan Stanley are closely monitoring stablecoin developments. JPMorgan Chase CEO Jamie Dimon said the bank will be involved in stablecoins, without giving details. Banks need to weigh several factors before going live with stablecoins, including how holding the tokens might affect liquidity requirements, said Julia Demidova, head of digital currencies product and strategy at FIS. Banks holding assets like stablecoins on their balance sheets might be required to hold more capital under current U.S. bank rules. "The GENIUS Act is great, but if the bank is treating their stablecoin on the balance sheet under prudential banking regulation, you still need to look at the risk weight of the asset," she said. Another crucial question is how to issue stablecoins. Like other cryptocurrencies, stablecoins are created on a blockchain, a digital ledger that records transactions. Hundreds of blockchain networks exist today, two of the most popular being ethereum and solana. Both are considered public or "permissionless" blockchains because all transactions on those networks are available for anyone to see. Still, it is unclear which attribute companies issuing stablecoins would prioritize. Banks, in particular, could opt for their own private, or "permissioned," blockchains instead, Demidova said. "The banks would desire and demand that very clear governance and structure," she said. "In that permissionless environment, you don't have the governance and controls in place." Others like said Nassim Eddequiouaq, CEO of Bastion, a provider of infrastructure for companies to issue their own stablecoins, see merits to permissionless blockchains. "We've seen a tremendous amount of interest for existing blockchains that have seen user adoption, that have been battle tested at scale, including during activity spikes," he said. Although the GENIUS Act has been signed into law, its effective date is potentially several years off, with federal banking regulators expected to issue rules in the meantime to fill in certain gaps. The Office of the Comptroller of the Currency, for instance, is expected to issue rules to outline several risk management and compliance requirements. Under the new U.S. framework, the Treasury Department will have to issue a rule on foreign stablecoin regulatory regimes and their compatibility with the new U.S. framework. "These things are going to have to phase in," said Aschettino. (Reporting by Hannah Lang in New York; Editing by Richard Chang)


Zawya
an hour ago
- Zawya
Syria forums in Bahrain, Abu Dhabi eye $500bln reconstruction investment push
In a move to mobilise international capital for Syria's estimated $500 billion reconstruction effort, the Syria Recovery & Investment Forum is launching two new editions this September — in Bahrain and Abu Dhabi — following the success of its July event in Dubai. The upcoming forums aim to attract strategic investors and stakeholders across sectors such as education, energy, housing, smart cities, ports, and metro systems, where Syria's rebuilding needs are most urgent. Backed by contributions from Gulf nations and international partners including the US, UK, Europe, and Turkey, the initiative is gaining momentum as a platform for private sector-led development. Forum Dates and Venues: * Bahrain Edition: September 1-2, Sheraton Bahrain Hotel. Register at: * Abu Dhabi Edition: September 24 - Adnec Centre – Conference Hall B. Register at: Skyspace, a leader in AI-powered medical aviation and emergency infrastructure, joins the forum as a strategic partner, bringing cutting-edge solutions to Syria's healthcare and emergency response sectors. Forum objectives and agenda The Syria Recovery & Investment Forum is designed to: * Deepen regional and international investment engagement * Strengthen B2B connections through curated matchmaking * Accelerate high-impact projects in Syria's priority sectors Key themes include: Investment roadmaps and government incentives; infrastructure, housing, energy, education, health, franchising, tourism, legal and financial entry frameworks; franchise and international brand opportunities. Pre-registration is required for access to all sessions, B2B meetings, and networking opportunities. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Zawya
an hour ago
- Zawya
Oil prices little changed as industry report points to slowing US demand
Oil prices were little changed on Wednesday after falling in the previous session after an industry report showed U.S. crude stockpiles climbed last week illustrating the end of the seasonal summer demand period is nearing. Brent crude futures gained 3 cents to 66.15 a barrel at 0102 GMT after dropping 0.8% in the previous session. U.S. West Texas Intermediate crude futures fell 3 cents to $63.14 after declining 1.2%. Crude inventories in the U.S., the world's biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly. Should the U.S. Energy Information Administration data set for release later on Wednesday also show a decline, it could indicate that consumption during the summer driving season has peaked and refiners are easing back their runs. The demand season typically runs from the Memorial Day holiday at the end of May to the Labor Day holiday in early September. Analysts polled by Reuters expect the EIA report to show crude inventories fell by about 300,000 barrels last week. Outlooks issued by OPEC and the EIA on Tuesday pointed to increased production this year which also weighed on prices. But both expect output in the U.S., the world's largest producer, to decline in 2026 while other regions will increase oil and natural gas production. U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt output to fall in 2026, the EIA forecast in a monthly report. The Organization of the Petroleum Exporting Countries' monthly report said global oil demand will rise by 1.38 million bpd in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged. The White House on Tuesday tempered the expectations for a quick Russia-Ukraine ceasefire deal, which may lead investors to reconsider an end to the war soon and any easing on sanctions Russian supply, which had been supporting prices. U.S. President Donald Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss ending the war. "Trump downplayed expectations of his meeting with President Putin ... However, expectations of additional sanctions on Russian crude continue to fall," ANZ senior commodity strategist Daniel Hynes wrote in a note. (Reporting by Nicole Jao in New York; Editing by Christian Schmollinger)