(MENAFN) Infrastructure projects in Oman is expected to reflect a high growth on the cement sector, according to Oman Observer. Omani government plans to launch developing transport and social infrastructure projects along with its core oil and gas sector. Industry reports said that demand on cement in Oman is expected to boost at an average annual rate of 6 percent to 2016. Cement producers in Oman has already expanded capacity to the optimum level to cover domestic demand.
(MENAFN) Traffic in air passenger and air cargo is expected to outperform in the Middle East by 2032 compared to all other regions, according to Oman Observer. Air passenger traffic in the Middle East, in terms of Revenue Passenger Kilometres (RPK), is expected to grow to a compounded annual growth rate (CAGR) of 6.7 percent. Air passenger traffic in the Middle East, in terms of Freight Tonne Kilometres (FTK), is projected to reach 7.2 percent CAGR.
(MENAFN) Sales revenue of Danube Group, a leading construction and home interior company in the UAE, was estimated at USD 544 million in 2013, according to Khaleej Times. Revenue rose by up to 17 percent in the second half of 2013, and expects the first half of 2014 to post 15 to 20 percent growth in sales. Danube has made several major projects for expansion in the region in the last year, and could secure significant growth. Rizwan Sajan, founder and chairman of Danube Group, said 40 per cent of the group"s business revenues are solely from the UAE.
(MENAFN) UAE's Department of Finance has signed a USD1 billion loan deal with Serbian Finance Minister in a visit to Abu Dhabi, according to Khaleej Times. The loan deal aims to strengthen cooperation and ties between the UAE and Serbia, and support private and public sectors within the UAE. The Department of Finance said: "The relations between the UAE and Serbia continue to grow in various sectors, whereby this agreement reflects the efforts of the two countries to further develop their mutual cooperation and bilateral relations."
(MENAFN) A partnership between Saudi Islamic Corporation for the Development of the Private Sector (ICD) and Morocco-based Al Ajial Funds has been signed to invest jointly in Morocco's private sector, Arabian Business reported. ICD chief executive said: Joining our forces to accompany the development of Morocco's private sector is an important milestone for ICD's investment strategy in the kingdom." The ICD supports its 51 member countries by financing private sector projects which follow Islamic principles. The ICD provides financing for various projects, but also made direct investments to establish Islamic financial institutions including banks and takaful insurers on the African continent.
(MENAFN) Bahrain has re-asserted itself as a regional powerhouse in the oil & gas as well as power & water sectors, Saudi Gazette reported. The country has USD14 billion worth of oil, gas power and water projects either planned or already underway. The upcoming Bahrain Energy Forum 2014 organized by MEED will be held to discuss the details of the project opportunities in the kingdom. Chairman of MEED Events said: "Bahrain Energy Forum 2014 will provide a comprehensive update of the exciting plans and associated project opportunities to reaffirm Bahrain's historic position as the energy hub of the Gulf and the wider Middle East."
(MENAFN) Al Futtaim Carillion announced that it has won a contract by Meraas in the UAE, Arabian Business reported. The USD250.66 million contract is for the construction of the Avenue Phase 2 City Walk development in Dubai. The contract includes the construction, commissioning, testing and completion of the estimated 1 million square foot second phase of "a high-quality family entertainment and retail development". Al Futtaim Carillion is a joint venture consisted by UK-based Carillion and UAE's Al Futtaim.