Latest news with #NadimKawach
Zawya
17-07-2025
- Business
- Zawya
Kuwait's first industry zone completed
Kuwait has finally completed its first industry zone following a delay of more than five years due to disputes with contractors. The Public Authority for Industry (PAI) said it would manage Al-Shadadiya industrial zone south of the capital Kuwait City after it was completed this month. Newspapers in the founding OPEC member quoted PAI as saying the new zone spans an area of nearly 6 million square metres and would comprise 1,036 factories covering chemicals, foodstuffs, furniture, home appliances and other light products. Designs and infrastructure of the project cost nearly 100 million Kuwaiti dinars ($330 million), which was funded by the Kuwaiti government as part of a medium-term industrial strategy. 'This project has just been completed and handed over to PAI following a delay of more than five years due to poor performance and lack of funds by the first contractor,' the Kuwaiti Arabic language daily Alqabas said on Wednesday. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
10-07-2025
- Business
- Zawya
Egypt to award new gas sites in August
Egypt will award new gas blocks to foreign companies in August as part of the latest concession bidding round that had attracted scores of bidders. The concessions cover vast areas in North and Northeast Egypt as well as in offshore areas in the East Mediterranean, Egypt oil and gas group said this week. The latest round involves 12 onshore and offshore concessions offered by the state-owned Egyptian Natural Gas Holding Company (EGAS). 'Significant market demand was seen for the recently-closed bidding round for strategic exploration blocks spanning the Mediterranean Sea, Gulf of Suez, and Western Desert,' the group said on its website. 'The bidding round aligns with Egypt's trend to enhance hydrocarbon output and draw vital foreign investments..… the evaluation and award results for the latest bidding round are expected in August,' it added. The recent concession sites, announced on the Ministry's bidding gateway, have a total area of 26,500 square kilometres ( sq. km). Five of the 12 are offshore blocks in the Mediterranean with a combined area of about 13,000 square kilometres ( sq. km). (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
07-07-2025
- Business
- Zawya
Jordan issues consultancy tender for gas projects
Jordan has issued a tender for consultancy firms to provide advisory services for its gas projects to be carried out through its 2025-2035 energy plan. The Ministry of Energy and Mineral Resources said on its website that consultancy services cover financing, assessment of market demand, distribution mechanisms and utilisation of gas from its Risha gas field. 'The selected consultant will assist the Ministry with market assessment, review of the current gas market and analyse it against regional and local markets, study market dynamics, including supply and demand scenarios and review the regulatory frameworks and relevant legislation and provide necessary recommendations,' it said. 'The consultant will also optimise the utilisation of natural gas extracted from Risha Gas Field to achieve the best value addition, perform an economic assessment, including cost analysis and pricing mechanisms besides identifying and evaluating potential financing options for gas projects, including public-private partnerships (PPPs), loans, and investment opportunities,' it added. The Ministry said the selected consultant should also advise on the best investor for project implementation, evaluate commercial offers and establish a transport mechanism for determining gas prices for end users. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
07-07-2025
- Business
- Zawya
Kuwait's UREC to invest in Sudan tourism project
Kuwait's developer United Real Estate Company (UREC) has signed an agreement with the Red Sea state in Sudan for a tourism project in the province. The two sides will establish a joint venture to manage the project in line with their agreement signed on Sunday, UREC said in a bourse statement on Monday. 'UREC has signed a strategic partnership agreement with the government of the Red Sea State to develop a mixed-use tourism project,' it said. The statement said UREC would hold an 80 percent ownership in the new venture while 20 percent would be owned by the Red Sea State. UREC has been expanding in the Middle East and North Africa over the past few years to take advantage of growing investment opportunities. In June, UREC said it is planning to develop an island tourism complex in Oman through its subsidiary in the Sultanate. It said the firm has signed a contract for the 60,000 square kilometre (sq km) project on Masirah Island, Oman's largest island in the Arabian Sea. UREC said the complex comprises hotels as well as residential and commercial units and that its annual contract value is 12,000 Omani rials ($31,000) with a 50-year term. (Reporting by Nadim Kawach; Editing by Anoop Menon) (
Zawya
30-06-2025
- Business
- Zawya
Iraq set to launch first LNG import terminal
Iraq is moving closer to launching its first liquefied natural gas (LNG) import terminal as it advances negotiations with US-based Excelerate Energy, officials have said. Shafaq news agency quoted officials as saying the state-run South Gas Company is overseeing the project, which centers on establishing a floating storage and regasification unit (FSRU) at the Khor Al-Zubair port in Basra. The proposed facility would enable the country to receive, store, and convert LNG into natural gas for use in its power sector, the report said. Excelerate Energy, which develops and operates floating LNG terminals and infrastructure, is one of the top bidders for the project, and discussions are reportedly in an advanced phase. (Writing by Nadim Kawach; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
