Industry, Logistics & Shipping

UAE eyes big role in GCC voluntary carbon market by 2025

The UAE is seeking to strengthen its regional and global position in the voluntary carbon market, anticipating investment opportunities within government initiatives aimed at achieving carbon neutrality by 2050, according to the Abu Dhabi-based Interregional Center for Strategic Analytics.
 
The regional voluntary carbon market - a platform for companies and individuals to trade carbon credits to offset unavoidable carbon emissions - is poised for solid growth over the next five years and expected to be worth between $10 billion to $40 billion by 2030, according to Boston Consulting Group.
 
Global estimates indicate that the carbon credit market will be worth more than $50 billion over the same period, it stated.
 
Interregional pointed out that the UAE has launched a number of ambitious projects to enhance its role in carbon trading, most notably: the Dubai Financial Market’s experimental platform for trading carbon credits during the COP28 conference.), to facilitate financing of environmental projects.
 
In September 2023, the UAE Carbon Alliance was launched: companies committed to purchasing $450 million worth of African carbon credits to enhance connectivity between the UAE and African carbon markets.
 
AirCarbon Exchange cameIn Abu Dhabi, as the first fully regulated exchange for carbon trading, it facilitates buying and selling for companies.
 
ADGM has become the first regulator to treat carbon credits as financial instruments, enhancing transparency in the market.
 
These platforms facilitate the trading of carbon credits between buyers and sellers, and companies with surplus carbon credits can sell them to companies that need to offset their emissions. All traded credits are verified by globally recognized rating bodies to ensure their credibility.
 
These platforms contribute to directing funds towards environmental conservation and sustainable development projects, and enhance the reliability of trade in this field.
 
Interregional explained that within the framework of regulating greenhouse gas emissions, the UAE issued a ministerial decision obligating large companies to monitor and report their emissions, and it also established the National Carbon Credit Registry to promote trade in this field.

Industry, Logistics & Shipping

Bentley seeks nominations for the 2025 Going Digital Awards

Bentley Systems, Incorporated, the infrastructure engineering software company, today (February 18) announced that nominations were now open for the 2025 Going Digital Awards. 
 
This renowned global program recognizes the very best digital advancements in infrastructure delivery and performance. 
 
Independent jurors - consisting of thought leaders and experts in their field - will be selecting the winners from among the world’s most extraordinary infrastructure projects. The deadline for nominations is set at March 31, 2025.
 
Celebrating over 20 years, the awards program has recognized more than 5,250 of the world's most outstanding infrastructure projects. 
 
Bentley said this global programme was open to all its users and nominations are encouraged across a range of categories, encompassing all forms of infrastructure projects and stages—from design and construction to operations.
 
Three finalists will be chosen within each of the 12 award categories. And the finalists will attend Bentley’s Year in Infrastructure conference and Going Digital Awards program in Amsterdam from October 14 to 15 as guests of Bentley. 
 
In addition to the juried awards, Bentley’s founders will honour select projects representing organisations or individuals making meaningful contributions to infrastructure advancement. Winners will be announced on October 15 during the Going Digital Awards ceremony.
 
The 2025 Going Digital Awards categories include:
•Bridges and Tunnels
•Cities, Campuses, and Facilities 
•Construction
•Energy Production
•Geospatial and Reality Modeling
•Project Delivery
•Rail and Transit
•Roads and Highways
•Structural Engineering
•Subsurface Modeling and Analysis
•Transmission and Distribution
•Water and Wastewater
 
Going Digital Awards projects will also be profiled in Bentley’s Infrastructure Yearbook, which is distributed to an international audience comprised of government officials, industry influencers, media, industry analysts, and Bentley users.
 
As part of the conference, finalists will get to win a trip to the Year in Infrastructure and Going Digital Awards to present their projects before an independent jury of industry peers and key members of the press.-TradeArabia News Service

Industry, Logistics & Shipping

Ma'aden’s $7.4bn Phosphate 3 project construction work launched

Construction work on Ma'aden’s Phosphate 3 project, with investments estimated at SAR28 billion ($7.47 billion), was launched on Monday in Wa’ad Al Shamal Mining City by Northern Borders Region Governor Prince Faisal bin Khalid bin Sultan bin Abdulaziz.
 
He also launched several development and investment projects at a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, Vice Minister for Mining Affairs Eng Khalid Al-Mudaifer, and several public and private sector officials, said a Saudi Press Agency (SPA) report.
 
Supported by the Shareek Program, Ma'aden’s Phosphate 3 project is one of the region's largest mining ventures and aims to increase Saudi Arabia's phosphate production capacity to 9 million tons annually, including 3 million tons each from the Phosphate 1 and 2 projects. 
 
This expansion will contribute to developing the industrial supply chain, creating more investment and employment opportunities.
 
The governor emphasised that these projects reflect the Saudi Vision 2030 goals of developing the mining sector and enhancing its contribution to the national economy. 
 
He stressed that Wa’ad Al Shamal has become a model for integrated industrial cities, combining major industries, logistics services, and modern residential communities, which enhances the region's appeal to both local and international investors.
 
The ceremony also included the inauguration of several industrial, logistical, and service projects led by the Saudi Authority for Industrial Cities and Technology Zones (Modon), with investments exceeding SAR550 million. 
 
The projects involve developing industrial infrastructure across 4.3 million sq m, constructing 32 ready-built units consisting of 20 factories and 12 support units totaling 45,000 sq m, establishing a 132kV power substation with a 200MVA capacity and overhead transmission lines, and building a 7-km international road link bridge. 
 
These initiatives will improve logistics services, enhance energy reliability, and create an attractive investment environment, particularly for transformative industries linked to phosphate production.
 
Furthermore, Prince Faisal inaugurated the expansion of Ma’aden’s residential complex in Wa’ad Al Shamal in the presence of Alkhorayef. The expansion includes three new buildings, each containing 32 residential units, totaling 96 units.