Manufacturing DP World starts work on edible oil terminal in Somaliland Dubai-based port operator DP World has started the development of a new edible oil terminal at the Port of Berbera in Somaliland to reduce supply chain costs and create local jobs. A long-term lease for the facility has been signed, DP World said in a statement. Edible or cooking oil is fat of plant, animal […] March 30, 2023
Manufacturing Renault’s hybrid move will power up Morocco’s EV ambitions Morocco’s status as a regional electric vehicle manufacturing hub has been boosted by French carmaker Renault Group’s announcement that it will move production of its hybrid model from Romania to Tangier in the second quarter of 2024. The new production line for the Dacia Jogger model is expected to produce up to 120,000 vehicles per […] March 29, 2023
Manufacturing Chinese firm to invest $2bn in Suez Canal Economic Zone Chinese company Xinxing Ductile Iron Pipes intends to invest $2 billion in iron and steel plants in the Suez Canal Economic Zone, Egypt’s cabinet said on Thursday. The plants are planned in an industrial zone at the Egyptian Red Sea port of Ain Sokhna developed by China’s Tianjin and will manufacture iron pipes and steel […] March 26, 2023
Manufacturing Renault’s Morocco plant set to produce hybrid cars in 2024 French carmaker Renault Group will start production of its first hybrid model, “Dacia Jogger”, at its Tangier plant in northern Morocco in the second quarter of 2024. The new production line is expected to produce up to 120,000 vehicles, Morocco World News reported. Morocco’s Trade and Industry Minister, Ryad Mezzour, said the production “opens the […] March 20, 2023
Manufacturing British manufacturing output rebounds but outlook ‘bleak’ Britain’s manufacturing output bounced back in the first three months of 2023, chiming with other measures of the economy that improved, but firms expect the sector to contract as inflationary pressures persist, a survey showed on Monday. Trade body Make UK and accountants BDO said their quarterly gauge of manufacturing output rose to +21 in […] March 20, 2023
Energy Emirates drives growth in electric vehicle adoption The UAE is known for its SUVs and supercars, but companies in the Gulf state are accelerating the drive worldwide towards electric vehicles. The number of EVs on the road globally is expected to reach 200 million by 2030, says Gustave Cordahi, principal with Strategy& Middle East. EV sales are projected to surpass those of […] March 17, 2023
Manufacturing Samsung’s new Texas chip plant cost rises above $25bn A chip plant that South Korea’s Samsung Electronics Company Limited is building in Taylor, Texas, will cost the world’s biggest memory chipmaker over $25 billion, up more than $8 billion from initial forecasts, according to three people familiar with the matter. The increase in cost is primarily due to inflation, the people said, declining to […] March 16, 2023
Manufacturing Boeing jet battle shifts to factory floor after Saudi Dreamliners win A major purchase by Saudi Arabia caps sales of almost 200 Dreamliners over the past four months, handing Boeing major industrial and political wins in lucrative widebody sales against European rival Airbus. Now the US aerospace giant will face the difficult task of producing and delivering those 787s in a time of unprecedented supply chain […] March 16, 2023
Manufacturing White House says Saudi-Boeing 787 deal to support US jobs The White House has welcomed the “landmark” deal between Saudi Arabia and the Boeing Co, saying it will support US jobs and marked a milestone in cooperation between Saudi Arabia and American industry. Two Saudi airlines agreed to buy 78 Boeing 787 Dreamliners and took options to buy another 43. The White House said it […] March 15, 2023
Oman to offer new mineral exploration blocks by Q1-end Oman’s ministry of energy and minerals is working on offering new mineral exploration blocks for investments in the first quarter of 2023. The ministry is currently in the final stage of negotiations with specialised companies on several concession areas, primarily focusing on developing potash ore and evaluation of lithium ore, Dr Salah bin Hafeez Al […] March 12, 2023
Manufacturing Turkish factory activity rises in January after falling for 2 months Turkish industrial production expanded 4.5 percent year-on-year in January, more than expected, data showed on Friday, returning to growth after two months of decline due to a global economic slowdown. Industrial output expanded 1.9 percent month-on-month in January on a calendar and seasonally adjusted basis, data from the Turkish Statistical Institute showed. In a Reuters […] March 12, 2023
Manufacturing Turkey’s southeast exodus after quake puts manufacturing at risk Mehmet Alkan, a shoe-sole manufacturer in Turkey’s earthquake-hit south, doesn’t know what will become of his company after some of his 220 employees died and half fled, reflecting the difficult transformation ahead for industry in the region. Forty of his workers and some families sheltered for a while in the undamaged Alkan Taban factory in […] March 12, 2023
Manufacturing 5G set to boost smartphone market value in the region Shipments of 5G smartphones to the Middle East and Africa region grew 47 percent last year, according to the latest industry data from Counterpoint Research Market Monitor. The MEA region made up an 18 percent share of the overall shipments. While globally 5G smartphone prices are dropping as a result of the availability of more […] March 9, 2023
Manufacturing UAE food group Agthia seeks to build Egypt as export hub UAE food and beverages group Agthia is considering Egypt as an export hub after making acquisitions there as part of a regional growth strategy, group CEO Alan Smith said. Agthia, majority-owned by the Abu Dhabi government through state investor ADQ, aims to be one of the Middle East’s leading players in the food industry by […] March 9, 2023
Manufacturing Tesla readies ‘Project Juniper’ to revamp top-selling Model Y Tesla is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan. The changes to the Model Y – code-named Project Juniper – involve the exterior and interior of the electric vehicle (EV) with a target of starting production in 2024, according to two of the people, […] March 2, 2023
Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023
Trade Bahrain, Egypt, Jordan and UAE sign $2bn of industrial deals Businesses from the UAE, Egypt, Jordan and Bahrain have signed industrial deals valued at more than $2 billion at a government-backed gathering in Amman. The meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development, held on Sunday, brought together CEOs and the industry ministers of the four countries. Twelve agreements were […] February 27, 2023
Manufacturing Japanese automaker Nissan raises global EV targets Nissan Motor Company Limited on Monday raised its electrified car sales goals and said it will increase power train production in the United States, as it looks to catch up in a segment dominated by newer automakers such as Tesla Inc. The Japanese automaker was a pioneer in electric vehicles (EVs) with its all-battery-powered Leaf […] February 27, 2023
Manufacturing Egypt to get $145m investments in automotive sector Egypt has signed agreements with three global automobile manufacturers worth around $145 million, Prime Minister Mostafa Madbouli said at the first meeting of the Supreme Council of Automobiles. Automobiles are the fourth largest commodity in terms of import value, and the move is part of President Abdel Fattah El-Sisi’s directive to increase this, Egypt Today […] February 26, 2023
Manufacturing $6.4bn in contracts signed at major defence expo The UAE signed defence deals worth a total of AED23.34 billion ($6.36 billion) over five days of a major defence expo in the capital Abu Dhabi, with big wins for local companies despite a strong showing by international firms. Contracts worth 2.2 billion dirhams were signed at the International Defence Exhibition (Idex) on Friday, of […] February 26, 2023
Manufacturing Saudi opening food clusters to boost homegrown supplies Saudi Arabia is planning to launch a number of food clusters in an effort to boost its homegrown food manufacturing sector. Abdulrahman Alromaizan, investment development director at the Saudi Industrial Property Authority (Modon), told delegates during a panel at the Gulfood event in Dubai this week that the semi-government entity was addressing the need to […] February 24, 2023
Manufacturing UAE signs over $2bn defence deals with state-owned firms The United Arab Emirates (UAE) signed defence deals worth AED8.14 billion ($2.22 billion) on the second day of a major industry expo in Abu Dhabi, with the bulk of the business signed with a state-owned firm, a state defence acquisitions agency said. Abu Dhabi defence firm Edge, whose book value last year was roughly $5 […] February 22, 2023
