Red Sea International Co. gets approval for its 49.6% capital cut
Follow-ups -eshrag News:
MENA Project Tracker: Arabian Centers to open two retail destinations; KOC eyes $700m oil project tender
RIYADH: Arabian Centers, one of the largest operators of contemporary lifestyle centers in Saudi Arabia, will open two top-rated retail destinations in Riyadh and Jeddah, according to a report in Trade Arabia.
Work on the projects, Jawharat Al Riyadh and Jawharat Jeddah, is progressing steadily, and the company claims that these destinations will offer a next-generation retail experience to customers.
The SR1.8 billion (480 million) retail destination in Riyadh is expected to be operational by 2025, while the Jeddah project worth SR1.1 billion will start functioning by 2024.
The Riyadh and Jeddah projects are expected to generate 7,000 and 5,000 jobs respectively.
KOC to upgrade four gathering centers
The Kuwait Oil Co., also known as KOC, is preparing to tender a $700 million project to debottleneck four gathering centers in East Kuwait, MEED reported, citing industry sources.
According to the report, KOC aims to renovate GC-1, GC-2, GC-11, and GC-19 gathering centers.
The budget approval for this project is expected to be finalized by October or November.
Acciona and Engie bids on Mirfa 2
Spain’s Acciona and France’s Engie have placed the lowest bids for developing Mirfa 2 seawater reverse osmosis project in Abu Dhabi, Meed reported.
Acciona’s offer stands at $54.46 cents a cubic meter for an 80 million imperial gallons a day development, outbidding the Engie-led team by 1.7$c/cm.
Engie’s bid is at $48.32 cents a cubic meter for a 120 MIGD plant.
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