ACWA Power-led consortium to develop Ibri-2 IPP

ACWA Power-led consortium to develop Ibri-2 IPP
A consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPCo) has signed an agreement for the development of Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (OPWP).
Updated 06 May 2019

ACWA Power-led consortium to develop Ibri-2 IPP

ACWA Power-led consortium to develop Ibri-2 IPP

A consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPCo) has signed an agreement for the development of Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (OPWP). The project, to be developed on a BOO (build, own, operate) basis, includes the development, finance, construction and operation of the 500 MWac solar PV power plant. The project will be located around 300 km west of Muscat, and will contribute toward increasing power supplies in the country.

OPWP awarded the project to the consortium following an international competitive tendering process that included 12 bidders. The winning consortium submitted the best economic tariff for the electricity that will be sold to OPWP. ACWA Power is the lead investor in the project with a 50 percent stake, whereas GIC will have a 40 percent stake and AEPC will control the remaining 10 percent.  

The project will be the first utility scale solar power project in Oman and will utilize Solar PV technology to yield 500MWac of power. At peak generation capacity, the plant output will be enough to supply an estimated 33,000 homes with electricity and will offset 340,000 tons of carbon dioxide emissions a year.


LuLu chairman receives Abu Dhabi’s highest civilian honor

LuLu chairman receives Abu Dhabi’s highest civilian honor
Updated 11 April 2021

LuLu chairman receives Abu Dhabi’s highest civilian honor

LuLu chairman receives Abu Dhabi’s highest civilian honor

Yusuff Ali M.A., chairman of retail giant Lulu Group and prominent NRI (non-resident Indian) businessman, has been honored with Abu Dhabi’s top civilian award.

The prestigious Abu Dhabi Award was given to Ali for his outstanding contribution to the emirate’s business and industry, and support to various philanthropic initiatives.

Sheikh Mohamed bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces, presented the award to Ali in Abu Dhabi.

“A very proud and emotional moment in my life. I am really overwhelmed and humbled to receive such a great honor from Abu Dhabi where I have been living for the past 47 years,” said the Kerala-born businessman after receiving the honor.

“It was on Dec. 31, 1973, I arrived in the UAE with new dreams and hopes. I have reached here after seeing many ups and downs and various challenges and I take this opportunity to extend my deepest gratitude to the visionary leadership of this great country, especially His Highness Sheikh Mohammed bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi.”

Ali is the only Indian along with other 11 prominent personalities, which include nine UAE nationals, to receive the honor this year. The Abu Dhabi Awards is the Abu Dhabi government’s initiative that recognizes and honors individuals who have selflessly dedicated themselves to support and contribute to the development of the emirate.

Ali, who recently ranked as the richest Indian in the Middle East in the Forbes billionaire list 2021, is also billed as the most influential Indian in the region, thanks to his close relations with the Gulf rulers.

He has received numerous awards, including the Order of the King of Bahrain in 2014, and the British Queen’s Award in 2017. In addition, he is also the first expatriate to get a permanent residency visa in both Saudi Arabia and the UAE.


Sadara to supply chemicals to SADIG-ILCO facility in Jubail

Sadara to supply chemicals to SADIG-ILCO facility in Jubail
Updated 11 April 2021

Sadara to supply chemicals to SADIG-ILCO facility in Jubail

Sadara to supply chemicals to SADIG-ILCO facility in Jubail

Sadara Chemical Company, and SADIG Industries and ILCO Chemicals (SADIG-ILCO), a Saudi-German joint venture focused on the manufacture of a wide range of specialty chemicals, have signed long-term agreements, through which Sadara will supply feedstock chemicals to SADIG-ILCO’s future chemical manufacturing facility in Jubail’s PlasChem Park. This 20-year contract follows a successful primarily agreement that was signed previously between the companies. 

The new agreements were signed by Sadara’s CEO Dr. Faisal Al-Faqeer, SADIG Industries’ managing director Ahmed Alubaid and ILCO Chemicals’ technical executive officer Dr. Corvin Volkholz, during a formal ceremony at Sadara’s Business Complex, in Jubail Industrial City, in the presence of Dr. Abdulrahman Alubaid, co-founder of SADIG Industries, and Turki Al-Mady, Dussur’s chief investments officer.

Under the terms of the supply agreements, SADIG-ILCO’s new PlasChem Park facility will offtake ethylene oxide (EO) and propylene oxide (PO) from Sadara through the new EO and PO pipelines that are being built by Sadara. Using these products as feedstock, SADIG-ILCO will manufacture a range of specialty chemicals, which will further enable the production of market-ready products in several areas, including cleaners, mining floatation, metal working fluids, industrial lubricants, plastic additives and many other industrial applications.

Sadara CEO Al-Faqeer said: “With Sadara’s differentiated products slate available in local, regional and global markets, along with associated local competitive incentives that are available as well, we are able to demonstrate to investors that the Kingdom of Saudi Arabia is definitely an attractive destination for exciting downstream manufacturing opportunities that can proudly carry the mark ‘Made in Saudi.’”

Al-Faqeer added: “The specialty chemicals that SADIG-ILCO will produce locally will replace imports and encourage development of new downstream specialty industries.”

SADIG Industries managing director Alubaid said: “SADIG-ILCO is part of SADIG Industries’ growth strategy and will introduce new chemicals that will enable further downstream industries in the Kingdom. It will add value to the local economy and the country’s export portfolio, along with creating quality job opportunities in line with Saudi Arabia’s Vision 2030. The JV will have several different types of batch reactors and flexible reaction capabilities, which enable the JV company to produce a wide range of products that are tailored to the customer requirements and performance needs. The EO-PO project is part of our third generation project lineup with an investment of approximately $70 million.”

Volkholz added: “We are bringing the technical know-how to manufacture specialty chemicals in the Kingdom and SADIG-ILCO will have an important role in diversifying the existing chemical market as well as we are providing tolling services for our customers. By combining our downstream manufacturing experience and technical expertise with Sadara’s specialty chemicals value chain, we will be able to bring many new and exciting products to the Kingdom.”

Al-Mady, chief investments officer of Dussur, said: “Supporting this agreement is in line with our mandate to contribute to Vision 2030 industrial objectives, specifically the National Industrial Development and Logistics Program and National Industrial Development Center priorities.”


World’s oldest minting institution eyes Middle East

World’s oldest minting institution eyes Middle East
Updated 11 April 2021

World’s oldest minting institution eyes Middle East

World’s oldest minting institution eyes Middle East

Monnaie de Paris, the world’s oldest minting institution, is expanding its presence in the Middle East with a view to bringing the creativity, elegance and history of French craftsmanship in precious metals to the region.

Internationally renowned for their historic expertise and know-how, Monnaie de Paris offers precious metal products that are manufactured by generations of its craftsmen who managed to keep the craft alive for 1,157 years.

The mint today offers a wide range of unique and high-quality precious metal products, including commemorative coins and medals, decorations, jewelry and decorative castings, all rooted in the authentic tradition of the French artistry, and expertly crafted using-age-old techniques. The company’s reputation has led to numerous creations in collaboration with prestigious names such as Cartier, Baccarat, Boucheron and Van Cleef and Arpels.

The company’s move to reinforce its regional position follows the successful release of numerous limited editions designed exclusively for prestigious names in the UAE, Saudi Arabia and Bahrain, among other countries in the region.

Monnaie de Paris released special edition thank-you medals for frontline workers in Saudi Arabia in recognition of their outstanding efforts in the fight against the COVID-19 pandemic. It also made a special souvenir medal for Al-Muhaidib Group, and created a customized limited edition of birth medals to celebrate UAE newborns.

“Highly valued globally, and in the Middle East in particular, the French products are synonymous with premium quality, style and know-how. Making the most of our deeply rooted expertise, we are committed to meeting our clients’ expectations, offering them a wide range of medals, castings and trophies crafted from the finest metals,” said Mahdi Al-Ouardighi, spokesperson for Monnaie de Paris in the Middle East.

The ambitious plan by Monnaie de Paris to strengthen its regional presence and become a partner in the precious metal industry, including commemorative medals, corporate VIP gifts, museum procurement and finest gifts, is because the Middle East is set to witness major international events, most notably Dubai Expo 2020, due to open in October 2021.

The region will also be a venue for major sports events such as the FIFA World Cup 2022, scheduled to take place in Qatar from Nov. 21 to Dec. 18, 2022, while the Saudi port city of Jeddah will host the inaugural Saudi Arabian Grand Prix in November this year.

“The Middle East is a growing marketplace, as it is set to host several major trading and sports events. We aim to tap into new markets in the region, driven by our longest standing philosophy that reflects our history and inspires the creation of unique, simple, and timeless products,” added Al-Ouardighi.


UAE tech firm Bloovo launches Bkathon, a virtual hackathon platform

UAE tech firm Bloovo launches Bkathon, a virtual hackathon platform
Updated 11 April 2021

UAE tech firm Bloovo launches Bkathon, a virtual hackathon platform

UAE tech firm Bloovo launches Bkathon, a virtual hackathon platform

Bloovo, an innovative technology company founded in Dubai and specializing in the provision of artificial intelligence (AI)-powered talent acquisition solutions, has announced the launch of Bkathon, its cloud-based SaaS-oriented virtual hackathon platform, designed to digitize the hackathon process. The cloud-based platform allows companies to host and run their own virtual hackathons without the hassle of organizing them themselves and is intended to become one of the brand’s main products. By harnessing the minds of the brightest young talent from around the world, business leaders can solve daunting issues and challenges and encourage a culture of innovation within their organizations.

In recent years, hackathons have grown in popularity as a modern tool by which leaders can take their company to the next level, based around the belief in collaborative innovation and the power of harvesting ideas from a number of sources. Hackathons are dynamic in their open process, encouraging participants to think outside the box, experiment and rapidly prototype to give leaders the edge.

Hackathons are not just limited to tech companies and over the past years many other sectors have started to use it. 

According to recent data from hackathon.com, the largest online hackathon community worldwide, only 27 percent of tech companies are using hackathons today as opposed to 73 percent of the companies being non-tech divided, highlighted by manufacturing and transportation companies at 12 and 11 percent, respectively, followed by health care and telecom. The study has also showcased that there has been a 37 percent rise in internal hackathons over the past two years with the main adopters of internal hackathons being financial services at 18 percent, manufacturing at 17 percent and retail industries at 16 percent.

Dr. Ahmad Khamis, co-founder and CEO of Bloovo, said: “The market is rich with opportunities and we are seeing the development of a more diverse ecosystem between companies and talent, furthering the innovation culture and fostering deep creative thinking.” 

Our vision is to revolutionize talent acquisition by adopting creative ideas, leading with our existing solutions and launching new products powered by AI and machine learning. This means we continually drive forward. A dynamic, joined-up, virtual business community such as Bkathon meets the needs of both company owners and employees and speaks to our ability to support our communities in new and disruptive ways.”


Huawei MateBook D 16: A stylish & powerful device delivering an all-scenario experience

Huawei MateBook D 16: A stylish & powerful device delivering an all-scenario experience
Updated 08 April 2021

Huawei MateBook D 16: A stylish & powerful device delivering an all-scenario experience

Huawei MateBook D 16: A stylish & powerful device delivering an all-scenario experience

Huawei Tech Investment Saudi Arabia has announced the pre-order phase for its new Huawei MateBook D 16 laptop, which gives consumers advanced processing with a stunning display in a portable package. The laptop is the latest addition to Huawei’s MateBook D series and is packed with exciting features to help consumers in their daily tasks. 

The Huawei MateBook D 16’s vivid 16.1-inch FullView Display is the largest ever on a MateBook D Series notebook. It supports 1080p Full HD resolution with a maximum brightness of 300 nits and features anti-glare technology, allowing for richer visuals and colors. The screen has ultra-slim bezels which help its 16:9 aspect ratio deliver truly immersive cinematic experiences. Meanwhile its TÜV Rheinland Low Blue Light and Flicker Free certifications let users enjoy comfortable viewing experiences even during extended periods.

Combine this with the powerful 7nm AMD Ryzen 4000 H-Series Processor, NVMe PCIe solid-state drive and dual-channel DD4 memory and consumers can enjoy smoother multitasking and gaming experiences. Add in Huawei Share and Multi-Screen Collaboration, which allows notebooks and smartphones to seamlessly work together, and consumers have the confidence to complete any task with ease. This makes it the ideal choice as a gaming laptop as well as for power users and young consumers. 

Huawei MateBook D 15

In addition, Huawei Tech Investment Saudi Arabia has launched the Huawei MateBook D 15, the latest notebook powered by a new 11th Gen Intel Core Processor to deliver vastly improved speed over its predecessor, and one that supports Multi-screen Collaboration to make the notebook smarter than before. Designed with the needs of young consumers in mind, Huawei MateBook D 15 is engineered to provide incredible performance across all scenarios, from virtual lectures and productivity on-the-go to multimedia experiences.

Huawei MateStation S

In addition, Huawei Tech Investment Saudi Arabia has launched the Huawei MateStation S desktop PC in the Kingdom. It comes with a powerful AMD Ryzen 5 4600G processor and a slim star trail design that supports 9 V/2 fast charging so consumers have everything they need to take on any task. A fingerprint power button, and Huawei Share allow for smart interaction while a slim keyboard and scissor mechanism make typing a breeze. It is bundled with the 23.8-inch Huawei FullView Display, which has a vibrant 1080P low blue light, flicker-free resolution, and a stunning 90 percent screen-to-body ratio. It offers a wide display area for greater visual immersion in both productivity and entertainment tasks.

The Huawei MateBook D 16 is available for pre-order through the online Huawei Store priced at SR4,199 ($1,120) and includes a valuable gift, which is the Huawei Display 23.8-inch, worth SR749 as a bundle (only in the pre-order phase). The Huawei MateBook D 15 is priced at SR3,899 and includes a Huawei Backpack and Huawei Bluetooth Mouse as free gifts The Huawei MateStation S is priced at SR2,599 and is bundled with the Huawei FullView Display 23.8-inch as a valuable gift (during the pre-order phase only).