Abu Dhabi’s Fertiglobe plans trial shipments of DEF to Europe
Abu Dhabi-based Fertiglobe, a joint venture between Abu Dhabi National Oil Co and chemical producer OCI, said it will produce diesel exhaust fuel (DEF) from its Egyptian Fertilizer Co.(EFC) facility in Egypt in Q4 2022, as it looks to diversify its product offerings. Trial shipments will be marketed by OCI in Europe, the fertilisers and […]
UAE, Indonesia to develop cooperation in energy sector
The UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources have signed a Declaration of Intent to boost the economic and social development between the two countries and exchange knowledge and data in the energy sector. Signed during a joint meeting between the two countries at the […]
Kromberg & Schubert opens $82mln wiring plant in Fujairah
Kromberg & Schubert, a leading German manufacturer of complex wiring systems for the automotive industry, has announced the opening of its new AED300 million ($82 million) plant in Fujairah Free Zone. An international industrial company with more than 100-year history, Kromberg & Schubert is mainly engaged in the production of cable harnesses, and […]
Al Gharbia Pipe wins big supply contract for Abu Dhabi project
National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (The Group), has signed a purchase order agreement with Abu Dhabi-based Al Gharbia Pipe Company (AGPC) for the supply of 87 km of 34′ submerged arc welding line pipes for the Lower Zakum Long Term Development Phase-1 (LZ LTDP-1) New Main Gas […]
AD Ports Group acquires 80% of GFS for $790mln
Abu Dhabi’s AD Ports Group has announced an AED 2.9 billion ($790 million) acquisition of an 80% stake in Dubai-based Global Feeder Shipping (GFS), implying a 100% enterprise value of AED 3.7 billion ($1 billion). The ports company said the acquisition of GFS had been fully funded through a new acquisition loan. “This earnings and […]
From a Michelin-starred restaurant to the best of street food: 6 must-try dishes at Dubai’s Global Village
The 27th season of Global Village is well underway with brand new pavilions, attractions and entertainment options. When the KT team reached Global Village on Wednesday at 5.30pm, it was already bustling with people. As the evening wore on, the destination became ever busier, as residents and visitors flocked to check out all the new […]
UAE: World needs maximum energy with minimum emissions, says minister
Maximum energy with minimum emissions can ensure global energy security, an Emirati minister said during the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) 2022. Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology noted that the conference comes at a “pivotal” moment. “The solutions we agree on and the […]
Sunset Hospitality gets $35mln funding from Goldman Sachs
Sunset Hospitality Group (SHG), a diversified hospitality group in Dubai, renowned for developing and operating highly popular lifestyle brands, has secured $35 million funding from Goldman Sachs Asset Management. SHG was founded in Dubai ten years ago and is currently present across nine countries worldwide. The group owns and operates a large portfolio of […]
Kuwait-backed Wafra raises $1.5bln for stakes in fund managers
Wafra Inc, an investment firm backed by Kuwait’s public pension fund, said on Monday it has raised $1.5 billion for its fourth flagship fund that will acquire minority stakes in alternative asset managers such as private equity firms. The new fund, Capital Generation IV, will seek to acquire minority stakes in “lower middle-market” […]
Dubai’s DEWA adds 600MW of clean energy production capacity
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that the entity had added 300 megawatts of photovoltaic solar energy in 2022 from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, the world’s largest single-site solar park using the Independent Power Producer (IPP) […]