Industry DP World unit signs 50-year deal to develop UAE-Oman free zone A DP World unit has signed a 50-year deal to develop an economic free zone between the UAE and Oman. Mahdah Development Company, a UAE-Omani joint venture led by DP World, is working with Oman’s Public Authority for Special Economic Zones and Free Zones (Opaz) to develop the first phase of the Al Rawdah zone. […] May 27, 2025
Industry UK’s Wood wins contract for UAE’s first methanol facility UK-based engineering company Wood Group has been awarded a project management consultancy contract for the UAE’s first methanol production facility, the British company said in a statement. The contract was awarded by Ta’ziz, a joint venture between Abu Dhabi National Oil Company (Adnoc) and state-owned Abu Dhabi Developmental Holding Company (ADQ). Construction of the plant, in […] May 27, 2025
Agriculture Turkey may need foreign grain as drought hits farmers Turkey could be forced to increase international grain purchases this year as the domestic wheat harvest is forecast to fall short, with drought cutting yields across the country. Turkey’s wheat crop for this year is estimated at 19 million tonnes, at least 2 million short of last season’s harvest, despite an increase in land under […] May 23, 2025
Manufacturing China’s BTR targets $1bn revenue from Moroccan plants Chinese electric battery producer BTR New Material Group expects revenues of $1.2 billion from its Moroccan factories after production starts next year, according to a media report. Production at the Chinese company’s plants in the north of the country is expected to begin in the second quarter of 2026, general manager Peter Yang told Asharq News. […] May 23, 2025
Oil & Gas Iraq awards major oil deal to Chinese company Geo-Jade Iraq’s oil minister Hayan Abdel Ghani on Wednesday signed a large contract with a Chinese company and its local partner to develop an oilfield in the south of the country and build a refinery, a petrochemical complex and two power plants, according to the state press agency. Geo-Jade, the Chinese company, and the local company Crescent […] May 22, 2025
Manufacturing China’s ROX Motors to produce EVs in Abu Dhabi Chinese luxury EV maker ROX Motor and Dubai-headquartered W Motors will manufacture electric vehicles in Abu Dhabi as Gulf countries step up efforts to attract automotive manufacturing. The ROX 01, a mid-size combustion-electric SUV, will be made at W Motors’ new facility in the capital city, the companies said in a joint statement. No […] May 22, 2025
Manufacturing Adnoc awards $2bn contracts to back localisation Abu Dhabi state-backed oil giant Adnoc says it prioritising local manufacturing to mitigate supply chain risks and cut delivery times for critical equipment. The oil company has signed framework agreements valued at AED6 billion ($1.6 billion) with 12 UAE companies to manufacture critical industrial equipment under the “Make it in the Emirates” initiative, according to […] May 22, 2025
Analysis Petrochemicals Adnoc bets big on petrochems as sector struggles Abu Dhabi National Co.’s (Adnoc) multibillion-dollar bet to expand its petrochemical capabilities comes at a fraught time for the sector. The numbers may not immediately add up in terms of return on investment but the focus should boost the company’s global reach and technological capabilities, analysts say. “Abu Dhabi is trying to create a global […] May 22, 2025
Analysis Mining Loans help reignite Oman’s ambitions in copper mining Oman was once called Magan – 3,000 years ago when Mesopotamian texts told of a land rich in copper deposits. Now the country is revitalising its ancient metal mining industry as it seeks alternative sources of wealth to its dwindling exports of hydrocarbons and jobs for its growing number of young nationals. A subsidiary of […] May 21, 2025
Analysis Petrochemicals Trump’s China tariffs give relief to Saudi petrochems Saudi Arabia’s beleaguered petrochemicals industry, especially those that rely on propane gas to make their products, has received some welcome relief from an unexpected source: President Donald Trump and his trade tariffs on China. Trump’s first notable tariff moves against China – the world’s largest importer of propane – came in February. Beijing, which had […] May 21, 2025
Petrochemicals QatarEnergy prepares for chemicals growth QatarEnergy plans to more than double its capacity for plastics raw materials globally as it anticipates growth in the chemical industry, CEO Saad Al-Kaabi said on Wednesday. The state-owned company expects its US ethane cracker project to start production in the first quarter of 2027, Al-Kaabi told the World Gas Conference. The project, a joint […] May 21, 2025
Industry Turkey’s Zorlu to cut jobs and sell assets Zorlu Holding, one of Turkey’s largest industrial groups, is selling assets and letting go of least 10 percent of its staff to help meet its debt obligations, Bloomberg reported. The Istanbul-based group, which operates in real estate, energy and manufacturing, has nearly $5 billion in outstanding loans and has already extended some of its loan […] May 21, 2025
Trade Japan is Qatar’s top international investor Japan was the top international investor in Qatar last year, contributing half of its foreign direct investment, official data published this week shows. Tokyo contributed almost $1.4 billion of Qatar’s total FDI in 2024, according to Invest Qatar’s 2024 report. Japan is the world’s second largest importer of liquefied natural gas and Qatar’s second biggest […] May 21, 2025
Manufacturing UAE’s $11bn manufacturing investment aims to cut oil reliance The UAE plans investment of more than AED40 billion ($11 billion) over the next five years to establish itself as a centre for advanced manufacturing. The strategy aims to expand its industrial base, accelerating efforts to diversify its economy away from oil. Highlighting progress so far, Dr. Sultan Al Jaber, federal minister of industry and […] May 20, 2025
Space Abu Dhabi launches facility to manufacture satellites Abu Dhabi Investment Office (ADIO) and Space42 have launched the region’s first satellite manufacturing facility to build local remote sensing capabilities. The Space42 Space Systems facility will localise the design, assembly and testing of SAR satellites used for earth observation, securing space-based intelligence for Abu Dhabi, according to a joint statement. SAR (commercial synthetic aperture […] May 20, 2025
Industry EGA to build first US aluminium smelter in 45 years Emirates Global Aluminium (EGA), which says it is responsible for 4 percent of global output, plans to start building a primary aluminium production plant in the US by the end of 2026. The $4 billion smelter, the first to be built in the US since 1980, is expected to have a capacity of 600,000 tonnes […] May 19, 2025
Petrochemicals Sabic explores listing industrial gas unit Saudi Basic Industries Corporation (Sabic), which is 70 percent owned by Saudi Aramco, is reportedly planning to sell a stake in its industrial gas subsidiary through an initial public offering. The company is in early talks with potential advisers including Lazard, HSBC Holdings, JPMorgan Chase and Morgan Stanley on a possible listing of National Industrial Gases Company this year, Bloomberg […] May 19, 2025
Analysis Petrochemicals Global slowdown offers way out for Gulf petrochemicals Top executives at Saudi Arabia’s petrochemical producers probably have little in common with Russian Marxist Georgi Plekhanov. Yet the revolutionary’s mantra “the worse, the better” may prove the unlikely route to salvation for their beleaguered industry. First-quarter results among Saudi petrochemical producers, which were forecast to be poor, proved to be even worse than expected. Margins […] May 19, 2025
Construction Iraq opens steel plant project as post-conflict demand surges Iraq has commissioned a 600,000-tonne-per-year steel mill more than 10 years after the project was awarded to Italy’s Danieli Group. Industry and minerals minister Khaled Al-Najm opened the project in the southern port of Basra this week, hours after he laid the ground stone for the first steel industries park to be constructed by China’s […] May 16, 2025
Exclusive Manufacturing Why Emsteel is not worried about rising Chinese imports UAE steel and building material company Emsteel expects demand for its products to grow 10 percent this year, paced by multi-billion-dollar infrastructure projects and real estate developments, its CEO said. That could offset a challenge from surging imports from China and declining world prices. The Abu Dhabi-based company has increased production capacity to meet demand […] May 15, 2025
Manufacturing PIF and Hyundai to roll out first Saudi vehicles in 2026 A joint venture between Saudi Arabia’s Public Investment Fund and South Korea’s Hyundai Motor Company will roll out its first vehicles in the fourth quarter of 2026. The partners broke ground on the new manufacturing facility on Wednesday at the recently launched King Salman Automotive Cluster in King Abdullah Economic City, the state-run Saudi Press Agency […] May 15, 2025
Manufacturing Egypt looks to China for cash injection to lift textiles industry A delegation from China’s textile industry visited Egypt this week as part of the Cairo government’s strategy to attract investment to its fabric and garment businesses, local media has reported. The group of 37 Chinese business leaders and representatives from 25 companies met Mohammed El Shimy, Egypt’s minister for public enterprises, to discuss partnerships with […] May 14, 2025
