Infrastructure Dubai’s Dewa gets 2 bids for $410m Hassyan water project By Pramod Kumar May 26, 2023, 6:05 AM Wam Dewa aims to produce 100% of desalinated water by a mix of clean energy and waste heat by 2030 Utility provider Dubai Electricity and Water Authority (Dewa) received two bids for its 120 million gallons per day Hassyan independent water producer project. Bids were submitted from Saudi’s Acwa Power and UAE’s Abu Dhabi National Energy Company (Taqa). Acwa Power sent the lowest water levelised tariff of $0.389 per cubic metre for the base proposal of 120 mgd, and $0.365 per cubic metre for the alternative proposal of 180 mgd for the AED1.5 billion ($410 million) Hassyan seawater reverse osmosis plant. The desalination project is Dewa’s first independent water project. The Dubai-listed company aims to select the preferred bidder during the second quarter of 2023. The 120 mgd water project, based on reverse osmosis technology, consists of two blocks of 60 mgd each. The first block is scheduled to start operations in October 2025, while the second will commence in April 2026. “We are building water production plants based on reverse osmosis, which requires less energy than multi-stage flash distillation plants, making it a more sustainable choice for water desalination,” said CEO Saeed Mohammed Al Tayer. Dewa aims to produce 100 percent of desalinated water by a mix of clean energy and waste heat by 2030, he added.
Manufacturing Alba and Ma’aden end 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 taking place 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. […] 3 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 […] 59 mins 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 […] 45 mins ago
Energy Turkey to invest $20bn to promote energy efficiency Turkey intends to invest more than $20 billion in energy efficiency projects by 2030 to combat climate change and boost sustainable development, according to a news report. The first national energy efficiency action plan attracted investments of $8.5 billion between 2017 and 2023, state-run Anadolu Agency reported, citing Bilal Düzgün, head of the ministry’s energy […] 28 mins ago
