Saudi Arabia’s wealth fund hires banks for debut green bonds, shows document

Saudi Arabia’s wealth fund hires banks for debut green bonds, shows document
Saudi Arabia’s wealth fund hires banks for debut green bonds, shows document

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Jeddah - Yasmine El Tohamy - MENA Project Tracker — DEWA awards advisory services contract; Iraq to complete $1bn airport by end of 2023

RIYADH: Emirates Water & Electricity Co. has awarded the contract to develop the Mirfa 2 seawater reverse osmosis project to a consortium led by France’s Engie, reported MEED.

The Engie-led team offered to develop the 120 million imperial gallons a day independent water plant for $48.32 cents a cubic meter, winning the contract over Spain's Acciona by $3.9 c/cm.

DEWA awards advisory services contract

Electricity & Water Authority has selected a team led by UK-based Deloitte for the advisory services contract on the development of the Hassyan seawater reverse osmosis independent water project, reported MEED.

It shares this title of ‘legal advisor’ with two other companies — Canadian engineering firm WSP and the UK’s Addleshaw Goddard.

The team placed a bid of 2.09 million dirhams ($570,000) to beat its competitors in the contract.

Bank Muscat credits $101m to Galfar

Bank Muscat has agreed to loan Galfar Engineering & Contracting credit facilities of 39 million Omani rials ($101 million) on their projects, reported MEED.

“We are pleased to further strengthen our partnership with Bank Muscat by concluding this bespoke agreement to facilitate execution of three major projects, which are part of the infrastructure development of our beloved nation,” said Hamoud Al-Tobi, CEO of Galfar.

Ora Developers grants $49m construction contracts

Egypt-based Ora Developers has granted two $49 million construction contracts to Redcon Construction and Concrete Plus for phase one of ZED East project in New Cairo, according to Zawya.

The scope of work in phase one includes constructing 400 residential units — consisting of apartments, duplexes, townhouses, and villas — stretching over 56 acres of land.

The project is expected to be complete by 2025.

Iraq to complete $1bn airport by end of 2023

Iraq is set to complete the first phase of the $1 billion Karbala Airport by the end of 2023, as part of its post-war rebuilding initiative, reported Zawya.

Upon its completion, the airport will hold a capacity of three million passengers.

“We hope that phase one of this strategic project will be completed next year and it will be formally inaugurated at the end of 2023,” stated Suha Al-Najjar, head of the National Investment Commission.

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