Banking & Finance Morocco signs $109m loan deal with African bank Morocco has received a loan worth €100 million ($109 million) from the African Development Bank to fund new investment and sustainable infrastructure projects across the country. The loan agreement was signed with Fonds d’Equipement Communal, a bank dedicated to financing investment projects and development programmes in Morocco. Funds will be used to improve public services, […] March 19, 2024
Infrastructure Lebanon unveils plans to rebuild shattered Beirut port Lebanese companies will lead the multi-million-dollar funding for the rehabilitation of Beirut’s port, which will be based mainly on the revenues that the port has been collecting. Ali Hamieh, the country’s caretaker minister of public works and transport, announced the news on Wednesday. The port was partially destroyed in August 2020 when the detonation of […] March 14, 2024
Renewable Energy XLinks reaffirms UK is priority for Morocco power project British renewable power company Xlinks is “100 percent committed to the UK” despite reports suggesting it was refocusing its attention on Germany. Xlinks is overseeing the $22 billion Morocco-UK renewables project, which involves building solar panel and wind farms in the desert of the North African country. Via the installation of high-voltage direct current (HVDC) […] March 13, 2024
Opinion Infrastructure Saving the old with the new: how tech can revive historic cities Technology can help protect heritage locations from multiple modern threats March 12, 2024
Infrastructure Infrastructure projects to lift UAE construction sector While the residential segment continues to dominate the $94 billion UAE construction sector, investments in transport and renewable energy infrastructure will help propel future growth, a new report says. Government transport projects such as rail and road infrastructure, energy ventures and sewerage and water infrastructure projects, will fuel the construction sector’s expansion, according to the […] March 12, 2024
Video length: 05:25 VIDEO Infrastructure Saudi data centre sector attracts global investment Saudi Arabia has emerged as one of the most attractive destinations for global players looking to build and operate data centre facilities in the region. This was one of the prominent trends evident at Leap, the technology event taking place this week in Riyadh, where numerous tech companies revealed plans to enter the market to […] March 7, 2024
Analysis Economy Volatility of crude markets masks Saudi non-oil momentum Volatility in global oil markets, which led to Saudi Arabia’s GDP shrinking last year, is masking the strength of the kingdom’s non-oil economy, analysts have said. Its non-oil revenue is forecast to rise by more than 5 percent in each of the next two years, according to Jadwa Investment. The 2023 contraction was driven by […] March 5, 2024
Infrastructure Sweden’s Abu Dhabi truck deal to drive bilateral trade The UAE’s deal for Swedish tech company Einride to help to build the Abu Dhabi portion of the Falcon Rise Grid electrified road freight system could portend more business between the two countries. Einride will deploy 1,000 electric heavy duty trucks and 100 autonomous vehicles across Abu Dhabi and Al Ain, and install charging infrastructure. […] March 5, 2024
Infrastructure Egypt plans extension to make Suez Canal a ‘dual carriageway’ Egypt is to extend the “dual carriageway” segment of the Suez Canal, to allow northbound ships and southbound ships to travel the full length of the canal simultaneously. The canal’s first double-channel stretch opened in 2015. This extension will add 50km in the north and 30km in the south, the chairman of the Suez Canal […] March 5, 2024
Infrastructure Ooredoo to spend $1bn upgrading overseas networks Qatari telecoms group Ooredoo is to spend $1.1 billion upgrading its mobile coverage and quality of servies in a number of key overseas markets. Over the period 2024-26, the company will allocate substantial sums to improve connectivity in Algeria, Tunisia, Gaza and the West Bank, Iraq and the Maldives. Ooredoo’s operations in Gaza have been […] February 27, 2024
Construction Dubai launches $30m project to upgrade historic creek Dubai Municipality is undertaking a project to rebuild and rehabilitate parts of the historic Dubai Creek with a total investment of AED112 million ($30.5 million). The project aims to improve the creek’s retaining walls by upgrading the dock, reconstructing sections that have been damaged and dilapidated over the past 50 years and preventing potential flooding […] February 26, 2024
Transport Saudi Arabia loans $55m for Tunisian rail renewal Saudi Arabia has signed a $55 million loan deal with Tunisia to finance the renewal of the North African country’s rail network. The railway is used to transport phosphate, a sector that makes up around 4 percent of Tunisia’s GDP and 15 percent of the country’s exports. Tunisia plans to produce eight million tonnes by […] February 23, 2024
Real Estate UAE developer to build $2bn project in Egypt’s New Cairo Egypt’s New Urban Communities Authority and the UAE’s UDC Real Estate Development Company have signed a contract to develop an EGP60 billion ($1.9 billion) urban development project in New Cairo. Named The Crest, the development in the Hadayek Al-Andalus area will be built on a plot spanning 665,000 sq m. It will comprise residential, commercial […] February 22, 2024
Infrastructure Iraq seeks investors for rail projects in Baghdad and beyond Iraq is seeking investors for two major rail projects including a seven-line metro system to serve Baghdad’s growing population. The National Investment Commission (NIC) has issued International Investment Opportunity documents for Baghdad metro and phase one of a 90km four-station railway linking Najaf International Airport with Karbala city centre. Investors have until April 11 to […] February 22, 2024
Logistics Expansion of Jeddah Islamic Port complete The Saudi ports authority said this week it had completed a SAR1 billion ($270 million) expansion of Jeddah Islamic Port as tensions in the Red Sea continue. The project to deepen and expand the northern container terminal in Jeddah, to be operated by the Red Sea Gateway Terminal (RSGT) company, more than doubles capacity from 700,000 […] February 16, 2024
Analysis Infrastructure Digital economy central to UAE-Greece partnership The UAE’s Ministry of Investment and Greece’s Ministry of Digital Governance have signed an agreement to create a framework for investments in digital infrastructure. The UAE government is keen to invest in data centres and become a technological leader in south-east Europe. Data centres to be developed under the deal will reach a total capacity […] February 15, 2024
Infrastructure EU grants $431m to Turkey for post-quake recovery The European Union (EU) has signed an agreement with Turkey to provide a €400 million ($431 million) grant to support development following the devastating earthquakes in early 2023. “In the history of this post-disaster relief instrument, this is the largest sum ever awarded to a candidate country. This is also the first time that Turkey […] February 9, 2024
Analysis Industry Gulf steel has a keen edge on Chinese and Indian rivals While the Gulf is currently a minor player on the global steel-making stage, economic diversification and the energy transition may be about to change all that. As the world seeks to decarbonise, Gulf steel makers have a head start, already producing lower-carbon steel than global sector leaders China and India. The region’s ample supplies of […] February 7, 2024
Infrastructure Investcorp seeks more global airport and seaport stakes Bahrain’s Investcorp Holdings is looking at investment opportunities in airports and seaports across the world as it seeks to double the infrastructure assets in its portfolio to $10 billion by the end of the decade. Investcorp, the region’s biggest alternative investment firm, completed a 50 percent acquisition of the New York-based Corsair Capital’s infrastructure business, […] February 6, 2024
Trade AD Ports deal to transform Jordan’s Aqaba Abu Dhabi is to play a key role in transforming operations at Aqaba Port, Jordan’s primary trade hub. A joint venture company comprising a subsidiary of Abu Dhabi Ports Group and the Aqaba Development Corporation (ADC) aims to “revolutionise” the port by digitalising operations within a year. The UAE wants to build on bilateral trade […] February 6, 2024
Analysis Infrastructure Turkey quakes still taking a toll on economy one year on A year on, the twin earthquakes that devastated much of Turkey’s south continue to send tremors through the nation’s economy. The quakes on February 6 2023 inflicted a $103.6 billion hit on the Turkish economy, according to the Strategy and Budget Department of the Office of the President. Some $85 billion of this was the […] February 6, 2024
Infrastructure Turkey power retailer gets $100m to upgrade network The European Bank for Reconstruction and Development (EBRD) will provide a loan of up to $100 million to a Turkish electricity distribution and retail company to upgrade its power network in the country’s earthquake-hit region. The Turkish company Enerjisa Enerji will use the investments to modernise and reconstruct its distribution network in the Toroslar region. […] February 2, 2024
