Dubai's DEWA launches USD29m substation
(MENAFN) Dubai Electricity and Water Authority (DEWA) MD and CEO, HE Saeed Al Tayer, announced that the utility has opened a substation in Dubai Marina valued at USD29 million, reported Arabian Business. Al Tayer added that the facility, part of the authority's strategy to meet rising energy demand in the emirate, has a capacity of 150 megavolt amperes. He said that DEWA has extended a further 320 meters of 132 kV ground cables to link the new 132/11 kV facility to the main distribution station at The Palm Jumeirah, and the distribution station in Jebel Ali. It is worth noting that last year; the capacity of DEWA grew by over 10 percent.
Etihad Airways to acquire 3 airport services companies from ADAC
(MENAFN) Etihad Airways' president and CEO, James Hogan, announced that the carrier will buy 3 airport services firms from Abu Dhabi Airports Company (ADAC) to insure the airline's sustained growth, reported Arabian Business. Hogan added that the acquisition of Abu Dhabi Airport Services (ADAS), Abu Dhabi In-Flight Catering (ADIFC), and Abu Dhabi Cargo Company (ADCC) will boost revenues, save costs, and provide operational efficiencies across the business units. He said that the three companies are being incorporated into Etihad Airport Services, which is a subsidiary of Etihad Airways. It is worth noting that the transaction will hasten and consolidate the development of in-flight catering services, ground handling and cargo operations at Abu Dhabi International Airport, according to Hogan.
Over 33m passengers use Dubai Metro in Q1: RTA
(MENAFN) Dubai's Roads and Transport Agency (RTA) stated that the number of passengers who used the emirate's Metro system during the first quarter exceeded 33 million, reported Arabian Business. In 2012, the number of passengers that used the metro grew to 109.5 million, up from 69 million a year earlier. The RTA, which plans to lower the use of private vehicles and raise the share of public transport to 30 percent in 2030 from 13 percent in 2006, added that during the first 3 months of the year, Deira City Centre attracted 1.64 million commuters, while the Al Fahidi station, on the Green Line, attracted 1.37 million. It is worth noting that last year, over 367 million passengers traveled on public transport in Dubai, compared with 346.5 million in 2011.
Jeddah to welcome Saudi Arabia's first One&Only Resort
(MENAFN) Kerzner International Hotels Limited CEO, Alan Leibman, stated that the luxury resort operator will develop Saudi Arabia's first One&Only Resort, reported Arabian Business. Leibman added that the 95,000 sq m resort will comprise around 150 guest rooms, suites and villas, in addition to a One&Only residential component, dining and retail options, a health spa and 230 meters of beachfront. The property, located in Obhur, north of Jeddah, will be developed in partnership with Saudi developer Al Khozama Management Company and operator Saudi Oger. It is worth noting that Bahamas-based Kerzner is the company behind the Atlantis resort on Dubai's Palm Jumeirah.
Algeria to set up first nuclear power plant in 2025
(MENAFN) The Algerian Minister of Energy and Mines, Yousef Yousfi, stated that in order to meet growing demand for electricity, the North African country will establish its first nuclear power plant in 2025, reported Xinhua News citing official APS news agency. Yousfi added that the use of nuclear power is part of the government's renewable energy program aimed at diversifying energy sources and meet the rising demand for electricity. He added that the Nuclear Engineering Institute will be responsible of providing the needed training for engineers and technicians prior to tasking them with the mission of running the plant. It is worth noting that Algeria has 29,000 tons of uranium reserves, which are sufficient to set up 2 nuclear power plants, each with a capacity of 1,000 megawatts for a period of 60 years.
Qatar's Qrail awards USD2b Doha Metro's Red Line design contract: Report
(MENAFN) Qatar Railways Company (Qrail) has granted the USD2-billion design contract for the Red Line North of Doha Metro to a consortium led by Italy's construction firm Impregilo, reported Arabian Business citing Italian daily Il Sole 24 Ore. The consortium also includes SK Engineering & Construction and Galfar Engineering & Contracting. According to the newspaper's report, the 300km Doha Metro will be distributed over 4 lines: Red, Green, Gold and Blue, with the Red Line North having 7 metro stations over 13km of track beginning from Msheireb station. The consortium's contract allocates USD808 million for the metro design, while another USD1.4 billion will be earmarked for preparatory works, electromechanical systems, and architectural works.
UAE's 2012 economic growth at 4.4%
(MENAFN) The UAE's National Bureau of Statistics announced that the country's economy grew to 4.4 percent in 2012 in inflation-adjusted terms, reported Arabian Business. According to the bureau, the figure is compared with a revised 3.9 percent in 2011. It attributed the growth to high and stable oil prices in the period that enhanced all economic activities in the Arab world's second-biggest economy. It said that in 2012, oil prices averaged USD112 per barrel compared with USD109 per barrel a year earlier. On the other hand, the country's non-oil sector contributed around 67.3 percent to the real GDP.
