Tuesday 27 February 2024

Eidesvik to build first methanol-powered vessel for subsea

Norwegian shipowner Eidesvik Offshore has joined forces with Agalas to build a state-of-the-art Construction Support Vessel (CSV) to perform subsea and offshore wind operations.    Equipped with methanol engines and a battery hybrid system the vessel will b


Work starts on $6.4bn Sabic petchem complex in China

The start of full execution and construction of the RMB44.8 billion ($6.4 billion) Sabic Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in Fujian Province, China has been marked with a groundbreaking ceremony.   The pro


Saudi wealth fund PIF buys 40% stake in Zamil Offshore

Saudi sovereign wealth fund PIF (Public Investment Fund) has announced that it has completed the acquisition of a 40% stake in Zamil Offshore Services Company (Zamil Offshore).    Incorporated in 1977, Zamil Offshore is one of the largest offshore support c


Investcorp invests big in JFK Airport Terminal 6 project sponsor

Investcorp, the global alternative investment firm based in Bahrain, is investing in the sponsor of the John F. Kennedy International Airport's (JFK) new Terminal 6 Project.   The investment in Corsair’s infrastructure business, now called Investcorp C


SGC lands $191m EPC contract for Advanced petchem plant

Leading South Korean construction group SGC eTEC E&C Company and its regional arm SGC Arabia have secured an EPC contract worth $191.2 million from Saudi-based Advanced Petrochemical Company for its isopropanol plant coming up in the kingdom's Eastern Province.  &nbs


UAE, Germany to promote sustainable industrial development

The UAE's Ministry of Industry & Advanced Technology and Germany's State of Baden-Württemberg have signed a Joint Declaration of Intent (JDI) to promote sustainable industrial development, focusing on supply chain resilience, advanced technology, decarbonization, and cooperat


Region’s first beachside mall set to open this week in Bahrain

Eagle Hills Diyar, the pioneering developer behind the Marassi Al Bahrain project, has announced that its prime development - Marassi Galleria - will officially open its doors on February 21.   A grand ceremony will be held under the patronage of His Royal Highn


Mawani completes $266m Red Sea Gateway Terminal project

Saudi Ports Authority (Mawani) has announced the completion of development work on the Red Sea Gateway Terminal in Jeddah Islamic Port at a total investment of over SAR1 billion ($266 million).    Following the completion of this project, the terminal&rsquo


New Jeddah port terminal achieves increased handling capacity

Saudi Ports Authority, Mawani, has completed development works at Jeddah Islamic Port’s North Container Terminal, increasing its handling capacity from 2.5 million TEUs to 6.2 million TEUs. The development works, carried out in cooperation with the Red Sea Gateway Terminal (RSGT)


TechnipFMC awarded substantial iEPCI deal for Sparta project

TechnipFMC has been awarded a substantial contract by Shell for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI) project to use high-pressure subsea production systems rated up to 20,000 psi. For TechnipFMC, a “substantial” contract is bet

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