KOC said ,No leakage at oil installations.

Kuwait Oil Company (KOC) on Tuesday emphatically denied rumors buzzing social media sites about purported leakage at oil installations.
Smoke that billowed into the skies in south of the country early today originated from the industrial zone in Mina Abdullah, said the KOC in a statement.
The KOC operations are proceeding regularly, along with standard safety precautions.The industrial zone witnessed early today a fire that burned a dumping site of used tires that were later dumped with heaps of sand.

No.of Reads (151)

UAE, Kuwait plan labourer recruitment pilot project

The UAE and Kuwait are planning to conduct a pilot project aimed at developing a comprehensive qualifications and skills framework to improve recruitment of labourers in the Gulf market.The UAE Labour Ministry and the Ministry of Labour and Social Affairs in Kuwait have held talks to develop the framework, with further discussions scheduled for November.

Humaid bin Deemas, Under-Secretary of the UAE’s Ministry of Labour, said in comments published by news agency WAM that the talks held in Abu Dhabi aimed to lead to a pilot project to enhance the Gulf labour market.WAM said the Abu Dhabi Dialogue included membership of 11 Asian labour-sending countries such as Afghanistan, Bangladesh, China, India, Indonesia, Nepal, Pakistan, Philippines, Sri Lanka, Thailand and Vietnam. It also had participants from Japan, Singapore and South Korea.

Bin Deemas said: “We’ve reviewed during the meeting, a draft relating to the pilot project, which aims at documenting labourers skills through a recognition process by handing out certificates that state their experience levels.

“This will also allow employers to obtain the required labourers that are fit to the nature of the existing profession and give them an estimate of the wages they deserve, while keeping in mind the advantages workers get by obtaining a professional certificate regarding their careers once they return to their homeland.”

He added: “It’s still at pre-operational stage, we will implement a trial by selecting a sample of workers in professions related to the construction sector in the labour markets of both countries then test those workers and measure their skill development with reference to certain criteria.”The trial phase is expected to last for two years, he said.

No.of Reads (145)

Kuwait’s New Refinery Contractors submit bank guarantees.

Three international consortium awarded multi-billion dollar refinery deals by Kuwait last month have submitted bank guarantees to the Gulf emirate and are expected to formally sign the contracts on April 10, a Kuwaiti newspaper reported on Monday.

National Bank of Kuwait (NBK) has offered guarantees to two consortium while National Bank of Abu Dhabi (NBAD), one of the largest banks in the Arab region, has signed a guarantee agreement with the remaining consortium, the Arabic language daily Al Anba said, quoting unnamed sources in the Kuwaiti National Petroleum Company (KNPC).

The paper said the three guarantee deals have a total value of around KD165 million ($ 595 million) but it did not mention the value of each package.“The three consortium have submitted bank guarantees for the contracts ahead of the deadline set by KNPC on Monday,” the report said.“KNPC sources said they expected the clean fuel project (CFP) contract, the largest refining deal in Kuwait, to be signed on April 10.”

Kuwait, a key Opec oil producer, has awarded three contracts worth nearly $ 12 billion to consortium led by Japanese, British and US firms for the development of its Mina Abdullah and Mina Al Ahmadi refineries. The groups include JGC Corp of Japan, the UK’s Petrofac, and Fluor Corp of the US.

The CFP project, which also includes construction of the 615,000-bpd Al Zour refinery in southern Kuwait, will nearly double the country’s refining production to around 1.4 million bpd.

No.of Reads (205)

Kuwait’s Gulf Bank appoints new CEO.

GULF BANK KUWAIT

Gulf Bank announced the appointment of César González-Bueno as its new Chief Executive Officer, effective from 16th March 2014, following the approval by the Central Bank of Kuwait.

Mr Omar Kutayba Alghanim, Chairman of Gulf Bank said: “We are very pleased to welcome César González-Bueno as Gulf Bank’s new Chief Executive Officer. I believe he will help us to take Gulf Bank to the next level of development.

His experience as CEO with Novagalicia Banco and before that as Regional Head of ING, and as a member of ING’s global management team as well as his prior broader financial expertise with institutions such as McKinsey, amongst others, will add new energy and dynamism to the Bank’s growth. I, the Board and the whole management team at Gulf Bank are very much looking forward to César joining us and working with him to drive Gulf Bank forward.”

Mr González-Bueno is a Spanish citizen and has lived, studied and worked in Europe and the USA. He worked for Novagalicia since 2011 and spent 13 years at ING Bank. Prior to that he held positions at Citibank, Morgan Stanley and Argentaria as well as the Boston Consulting Group and Mckinsey & Co.

He holds a double degree in law and business administration from Madrid University and an MBA from The Yale School of Management in USA.

No.of Reads (205)

Qatar to launch infrastructure development projects worth $65bn.

vision2030_for_web_1

Qatar plans to launch development projects worth $65 billion, according to Abdullah bin Hamad Al Attiyah, president of the administrative control and transparency authority.The projects will include building the infrastructure for stadiums, railway networks, roads, highways, bridges, intersections, electricity and water and hotels.

Speaking at the “Qatar Infrastructure Projects” seminar, Al Attiyah said that Qatar’s focus for the future development has shifted away from the oil and gas sector.

“The needs and priorities of the State of Qatar has grown in recent years, where the expansion of the focus now is on other areas outside the oil and gas sectors, including a number of large-scale projects designed to achieve the Qatar National Vision 2030, as well as other projects for the infrastructure associated with hosting the Qatar World Cup Football 2022.”

The event, hosted by the Overseas Association of Japan, highlighted the role that Japanese construction companies can play in this vision.Attiya noted that the railway project in Qatar, which is estimated to at a cost of $30 million, presents an opportunity for joint cooperation between the two countries.

“Japan’s global expertise in design, engineering and systems integration , operations and safe transportation planning across the rail , and we hope to be Japanese companies involved in this sector in a position to participate in the development project of our network rail, including help in the progress of this ambitious plans effectively,” he said.

No.of Reads (140)

Netherland’s Van Oord awarded $696mn Kuwait dredging project.

KNPC NEW REFINERY PROJE

Van Oord has been awarded a $696mn land reclamation project in Kuwait by the Kuwait National Petroleum Company (KNPC). 

The project involves land in a salt plain near the coast to prepare for the construction of a new refinery in the Al-Zour area south of Kuwait City.The refinery will produce 615,000 barrels a day. It is the first phase of KNPC’s $23bn investment programme for this new refinery.

Van Oord CEO, Pieter van Oord, said: “The Middle East has been very important to Van Oord for decades. We are pleased to continue working and strengthening our position in the area with this contract.”Work on the project will begin immediately over a 30-month period.

The project involves dredging and reclaiming some 65mn cmof sand and executing extensive ground consolidation. It will also include constructing various channels, a basin for a future jetty, a barge dock and roads. Van Oord will deploy large trailing suction hopper dredgers and cutter suction dredgers.

For more information about this deal, please contact us at : worldcentrekuwait@gmail.com

  No.of Reads (146)

Kuwait Awqaf Public Foundation appointed ” Gulf Consult” for the refurbishment and expansion of Awqaf Complex.

Awqaf Commercial Complex

Awqaf Commercial Complex,Kuwait

 

Gulf Consult has been appointed by Kuwait Awqaf Public Foundation to provide design and supervision services for the refurbishment and expansion of Awqaf Complex. The Complex, located in the Mirqab area of Kuwait City, was built in the early 1980s.

The scope of work includes structural retrofitting of structural members in the basement, ground and mezzanine levels, as well as complete renovation of the interior and building services in the three-storey retail mall. The scope also covers the refurbishment of the elevator lobbies of the office towers, and the design of a new commercial building which will be bridge-linked to the main complex.The design and construction of the project will be carried out over a 22 month period.

Gulf Consult, founded by Hamad Abdullateef Thunyan Alghanim in 1967, is one of the oldest established design consultants in Kuwait.  Gulf Consult’s directive has always been, from the start to present day, to provide all of its clients with superior professional consulting services on time and within budget.

The company has developed a strong portfolio of significant and prestigious projects in wide range of categories from infrastructure to high rise office buildings, healthcare and educational institutions, and both governmental and commercial projects.

Gulf Consult is able to draw upon the skills and expertise of long-serving members of staff to offer a service that starts with the inception of the project and carries through the design to working drawings and construction supervision.  Gulf Consult also has an extensive track-record of successful work with internationally-renowned consultants.

Gulf Consult’s reputation for quality services delivered on time, sophisticated design, and dedication to client satisfaction has shaped the company into one of the premier multidisciplinary consultancies in the region.

No.of Reads (198)

GCC’s top 18 billionaires combined wealth hits $72.3 bln.

Mohammed al Barwani, chairman, MB Holding, figures among the world’s 1,645 billionaires who have been featured on the Forbes magazine’s 2014 World Billionaires List, released last week, Muscat Daily reported. As many as 18 billionaires from four GCC countries, including Saudi Arabia, Oman, the UAE and Kuwait, have been ranked in Forbes’ billionaire list this year, with a combined wealth of $72.3 billion.

Forbes ranked Barwani at 1,372th place, with a net worth of $1.2 billion.Of 18 billionaires from the GCC, seven are from Saudi Arabia, four from the UAE, five from Kuwait and one from Oman. Saudi billionaire Prince al Waleed bin Talal al Saud was again ranked as the wealthiest individual in the GCC and across the Middle East on the list, with a net worth of US$20.4bn.

According to Forbes, Barwani has joined the Forbes billionaires list for the first time this year. He founded energy conglomerate MB Holding as MB Trading in 1982. In 1986, the company started providing oil field services, soon expanding into exploration and the production of oil and gas, which remains the most valuable part of the business.

“Barwani’s five children are all active in the company, which had 2012 revenues of US$1.3bn. In 2010, he bought luxury yacht manufacturer Oceanco, which builds custom 280ft boats for the world’s super-rich,” Forbes said.

In its list this year, Forbes features a total of 1,645 billionaires with an aggregate net worth of US$6.4tn, up from 1,426 billionaires with a total net worth of US$5.4tn a year ago.

Via :  Forbes

No.of Reads (146)

Kuwait’s based “IFA Hotels & Resorts” launches $270m Palm project in Dubai.

Kuwait’s IFA Hotels & Resorts,

Kuwait’s IFA Hotels & Resorts, the largest foreign investor in Dubai’s Palm Jumeirah, on Sunday launched an AED1bn ($270m) mixed-use luxury development on the man made peninsula.

‘The 8’, as it is known, will feature 300 two and three-bedroom apartments, townhouses and penthouses, as well as hotel apartments.The Miami Beach-inspired development, which also includes a number of other resort-style facilities, did not come with a completion date.

“The Palm Jumeirah continues to be a market leader in property value retention and rental yield,” said IFA chairman and CEO Talal Al Bahar.IFA said that of the 45,000 new residential units in the pipeline in Dubai between now and 2015, only 4 percent were located on the Palm.

Dubai’s property market rebounded last year following 2008-2009’s crash, with market watcher JLL reporting an average 22 percent rise in the price of residential units in 2013.

The consultancy said in its latest annual report that price increases would continue at a slightly slower pace this year and the market remained about 15 percent below 2008 levels but would return to those heights by the last quarter of 2014 or early 2015.

No.of Reads (166)

Foster Wheeler Wins Contracts In Kuwait, Pakistan

Fooster Wheeler

Swiss engineering and construction company Foster Wheeler AG  Tuesday said that a unit of its Global Engineering and Construction Group has received the pre-front-end engineering design and the front-end engineering design contract by Kuwait National Petroleum Co. or KNPC for a new onshore LNG import and reclassification terminal to be built in Kuwait.

Separately, Foster Wheeler said its Global Power Group unit has received a contract by Shanghai Marine Diesel Engine Research Institute or SMDERI for the design and supply of two grate boilers for Pakistan-based Fatima Group’s unit Fatima Energy Limited. The new 120 MWe co-generation power plant will be located at the Fatima sugar mill in Savawan, Pakistan.

Under the deal in Pakistan, Foster Wheeler will design and supply two 60 MWe grate boilers and auxiliary equipment. The boilers will be designed to burn coal and bagasse, a fibrous matter that remains after sugarcane stalks are crushed to extract their juice. Commercial operation of the new boilers is scheduled for the first-quarter of 2016.

The company did not reveal the terms and the value for both contracts. Foster Wheeler said the contract value for Kuwait project was included in its fourth-quarter 2013 bookings, while that for contract in Pakistan will be included in its bookings for the first-quarter of 2014.

No.of Reads (105)

Dubai Grand Mufti reiterates fatwa against Mars project.

The Grand Mufti of Dubai has reiterated his fatwa against Muslims applying to travel to Mars after a Dutch firm received 1.259 applications from the Gulf region to be part of a project to set up the first human settlement on the Red Planet by 2023.

In September, a spokesperson for the firm behind project told Arabian Business 1,259 Gulf residents had applied to join the Martian program, with the majority of applications coming from Saudi Arabia.

The Mars One Astronaut Selection Program received more than 202,586 applications from people around the world seeking to be among the first to obtain a one-way ticket to live on the Red Planet.

By 2015, six to ten teams of four individuals will be selected for seven years of full-time training. In 2023, one of these teams will become the first humans ever to land on Mars and live there for the rest of their lives.

However, the move has been strongly condemned by the Grand Mufti of Dubai Dr Ahmed Al Haddad who has issued a fatwa that no Muslims should take up the offer if they are selected to the final rounds of the application process.

The fatwa is in response to a request raised by Netherlands-based trip organiser, Mars One, for recalling a similar ruling issued by a committee under the General Authority of Islamic Affairs and Endowment in the UAE.

“Such a one-way expedition poses a risk to life, and can never be justified,” the committee said.“There is a possibility that an individual who travels to Mars may not be able to remain alive there, and shall be more liable to death,” the cleric was quoted as saying by the Khaleej Times newspaper.

“People are not permitted to risk their life even if expecting little harm, as forbidden in verse 195/2 of the Holy Quran that says ‘And do not throw (yourselves) with your (own) hands into destruction’, and verse 29/4 ‘And do not kill yourselves (or one another). Indeed, Allah is to you ever Merciful’.”

While Mars One’s request for the fatwa to be lifted, Dr Haddad has called on all human rights watchdogs, governments and the United Nations to group together and “to come up with a collective fatwa” against the proposed project.

Despite reservations by Muslim clerics, the US is already in the early stages of plans to land humans on the surface of Mars in 2036, Charles Elachi, head of NASA’s missions to the Red Planet, told delegates at the Arabian Business Forum in Dubai in November 2012.

“We don’t have a programme [to send a man to Mars] but we are starting to plan,” Elachi, who heads up the Jet Propulsion Laboratory (JPL), the Pasadena-based NASA agency that constructs and operates robotic planetary spacecraft, said.

“Interestingly enough we can go to Mars every four years or so. Every 18 years they get very close. We are thinking not for 2018 but 2036 [for a human mission],” he added.

Elachi’s team at JPL successfully masterminded the landing of a one-tonne vehicle – called ‘Curiosity’ – in a deep crater on the surface of Mars in August 2012.

The rover has now begun a two-year mission to look for evidence that the Red Planet may once have supported life, but Elachi said plans to send humans to Mars is possible.

Via : Arabian Business

No.of Reads (134)

The Extreme Engineering “World’s Top 5 twisting towers”

Today we have brought The Extreme Engineering for you, The top 5 Twisting Towers of the World. Here u can guess how much effort and manpower used to design and construct such masterpieces.

Designed by Santiago Calatrava, the Turning Torso was one of the first twisting buildings.

Designed by Santiago Calatrava, the Turning Torso -Sweden,was one of the first twisting buildings.

Alhamra Tower Kuwait, Total height is 417 Meters with 74 floors.

Alhamra Tower Kuwait, Total height is 417 Meters with 74 floors.

Dubai's Infinity Tower is now the world's tallest high rise building with a twist of 90 degrees.

Dubai’s Infinity Tower is now the world’s tallest high rise building with a twist of 90 degrees.

Avaz Twist Tower, Sarajevo.

Avaz Twist Tower, Sarajevo.

Gehry Tower, constructed by Frank Gehry, is a nine-story building located in Hanover, Germany

Gehry Tower, constructed by Frank Gehry, is a nine-story building located in Hanover, Germany

No.of Reads (267)

ABB won orders worth around $160mn from Kuwait’s Ministry of Electricity and Water (MEW).

ABB has won orders worth around $160mn from Kuwait’s Ministry of Electricity and Water (MEW).

The orders are for new substations that will assist in strengthening Kuwait’s power grid and support infrastructure that will help to reinforce expansion of oil fields in the northern Rawditain region. It will supply two, 320/32kV substations and extend three existing 132kv substations. It will also upgrade switch gear, transformers, cables and control systems. The work is set to complete in 2016.

Kuwait has crude oil reserves of over 104bn barrels, accounting for around 10% of global reserves, the fourth largest in the world.Oil exports make up almost half of the country’s GDP, and the upgrade of Kuwait’s power infrastructure will help to increase production capacity to 4mn barrels of oil per day by 2020 – up from its current level of 2.9mn.

ABB CEO Ulrich Spiesshofer said: “ABB has a proven track record in Kuwait and we are pleas

No.of Reads (174)