Sharjah seeks proposals for Hamriyah water project By Pramod Kumar April 10, 2023, 6:11 AM WAM Sewa expects the independent water project to be commissioned by Q3 2026 State-owned Sharjah Electricity, Water and Gas Authority (Sewa) has issued a request for proposal for the 90 million imperial gallons per day Hamriyah independent water producer (IWP) project to eight pre-qualified bidders. The utility provider has allowed bidders to submit their proposal by the beginning of August 2023, state-run WAM news agency reported. The IWP is expected to be commissioned by the third quarter of 2026. Sewa will purchase the water produced by the project under a long-term purchase agreement. In February 2022 Essam Al Mulla, director of the water and desalination plants department at Sewa, stated that the authority had signed a contract with several consultants and international houses of expertise to implement the station. He said that seawater desalination meets 80 percent of the total water needs in Sharjah and constitutes a major strategic resource for fresh water in the emirate.
Manufacturing Alba and Ma’aden ‘terminate’ merger discussions Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been ongoing since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive Ali Al Baqali. Last […] 4 hours ago
Editor's insight Economy Balancing the Saudi books to improve growth The sixth line of the Riyadh metro has now opened – a considerable achievement executed at unprecedented speed, according to architects and engineers interviewed by Valentina Pasquali. But the IMF is predicting growth in the Saudi economy of only 1.5 percent this year. Not so great. It is easy to be sceptical of macroeconomic forecasts, subject as they […] 2 hours ago
Finance Aldar secures $2.5bn credit facility to support growth Aldar Properties, Abu Dhabi’s largest developer, has raised AED9 billion ($2.5 billion), taking its overall liquidity to AED27 billion to back its ongoing growth initiatives. The sustainability-linked multi-tranche revolving credit facility attracted orders from 15 global and regional financial institutions. The facility, which has a five-year tenor and incorporates conventional and Islamic tranches across AED […] 2 hours ago
Oil & Gas Oil may hit $90 on Russia curbs and Iran output cut Brent crude oil prices could rise above $85 a barrel in the short-term if the latest round of US sanctions against Moscow leads to lower Russian oil output, Goldman Sachs said on Sunday. Prices could touch $90 a barrel if the decline in Russian output coincides with a reduction in Iranian production, the bank said. US president Joe Biden imposed the broadest package of sanctions so […] 2 hours ago
