Kuwait Airways looking to hire ‘experienced’ COO.

Kuwait Airways is looking to hire a Western candidate who has worked in regional airlines as the new chief operating officer (COO) of the company, a local daily reported yesterday. Hiring a new COO is a priority for KAC as it looks also to find suitable candidates for the general manager and financial manager posts, according to a ‘high level source’ in the company quoted by Al-Qabas daily yesterday.

The KAC is very serious about its bid, to the point that it has hired a company to ‘snatch’ qualified candidates with successful work experience in those fields, said the sources who spoke on the condition of anonymity. The company was close to hire ‘an experienced Western candidate’ to work as a financial manager, but he refused in favor of an offer valued triple that of the KAC, the sources said. The issue is expected to be discussed during a meeting between the management and the labor committee at the KAC next week, the sources said.

KAC building The KAC is looking to contact high-ranking state officials in order to convince the government to allow them to keep their building in Kuwait City. An ultimatum given to the KAC to evacuate its ageing building on Helali Street ends on May 5, 2014.

Sources within the KAC management revealed that company officials are trying to persuade the government to allow them to subject the building to major maintenance projects instead. The KAC had sent a letter to the Cabinet in February in which they expressed willingness to carry out maintenance on the building, or even demolishing it and building a new one in its place. The Finance Minister refused, however, citing a Fatwa and Legislation Department clause which allows it to end the building’s lease contract.

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10 most expensive Airports under construction in GCC.

To meet the demands of travellers and expanding airlines, Gulf states are pumping billions of dollars into building new airports or expanding the existing facilities.

The International Air Transport Association (IATA) noted that “about $40bn is being invested in airport infrastructure in the Arabian Gulf alone by far-sighted” governments. It forecasts that by the year 2017 the total passenger numbers are expected to rise to 3.91bn.

The UAE leads the way with a combined $18.8bn in construction and expansion plans, with $15.9bn pumped into Dubai alone.While Qatar is investing a massive $15.5bn in its airport in Doha that is set to open on 27 May.

Elsewhere in the GCC, Saudi Arabia is aiming for a combined future capacity of 140mn passengers per year by expanding its three major airports in Damman, Jeddah and Riyadh.

Hamad International Airport

Estimated value: $15.5bn
Expected date of completion: 2014

Qatar’s new Hamad International Airport (HIA) will open to all airlines, including the country’s national carrier, on May 27.The $15.5bn planned hub for Qatar Airways has missed a series of launch dates, including the end of 2012, 1 April 2013 and the end of last year.

Due to increased transit growth in Qatar and the region in the past few years, modifications were necessary to deliver an airport with a capacity of 30 million on opening day.

In its opening configuration, the terminal has three concourses and 33 contact gates, increasing to five concourses and 65 contact gates, including eight for the A380 in the final build-out.

The main contractor responsible for delivering the $15.5bn airport project is Bechtel.

Dubai World Central Al Maktoum International Airport

Estimated value: $8.1bn
Expected date of completion:

Eight airlines will be diverted to the airport starting May 1.

The airport once completed will have the capacity to handle 12 million tonnes of annual cargo capacity and 160 million passengers.

The first phase of the Dubai World Central Al Maktoum International Airport is completed and fully operational. The airport currently has the capacity to handle 600,000 tonnes per annum and operates 24 hours a day on an A380-compatible, 4.5 km runway.

Phase 2 of the airport, which includes the construction of an additional two automated and non-automated cargo terminals, is currently under way. This is expected to increase the total cargo capacity of the airport to 1.4 million tonnes per annum.

Costs for the entire DWC development, including all clusters, has been estimated in excess of $32bn (AED120bn).

For more Airports please click this link     TOP 10 Airports

Via : Construction Week Online

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United Nations fund pays $990m in Kuwait-Iraq war compensation.

A United Nations panel that settles claims for damages resulting from Iraq’s 1990 invasion of Kuwait has paid out another $990 million.

The payment on Thursday by the UN Compensation Commission brings the total amount paid so far to the government of Kuwait to $45.5 billion.

The commission says the latest payment goes toward settling a claim by the Kuwait Petroleum Corp. for production and sales losses resulting from damage to the country’s oil fields.

The commission says another $6.9 billion remains to be paid from that award, which at $14.7 billion was the largest the panel made.

The Geneva-based commission was established by the UN Security Council in 1991 and is funded by a 5 per cent tax on the export of Iraqi oil. Iraq makes payments every three months.

Via : associated press

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Arabtec will spend Dh140 billion on building one million low-cost houses in Egypt.

Arabtec will spend Dh140 billion on building one million low-cost houses in Egypt and Dh14 billion on five mixed-use, residential projects in Abu Dhabi and Dubai, its chief executive officer Hasan Abdullah Ismaik said.

Speaking to reporters on the sidelines of Cityscape Abu Dhabi, he also said one of Arabtec Holding companies, Arabtec Construction, will sell 40 per cent of its shares in an IPO next year.

“With a core focus on low- to middle-income housing, the company will soon announce a series of projects similar to the one in Egypt, which will take place across several countries, in the UAE and across the Arab world,” Ismaik said.

Arabtec will be developing three projects in Abu Dhabi and two in Dubai.The Abu Dhabi-based projects include the Saraya development, two high-quality luxury towers on the Abu Dhabi Corniche, which will be 40 and 46 stories high. The towers will include a total of 122 apartments, comprising three- and four-bedroom apartments, as well as duplex apartments, three townhouses and seven penthouses.The project is due for delivery towards the end of the year.

He said that Arabtec will build a five-star hotel on Reem Island, adjacent to Shams Abu Dhabi. The project will include branded serviced apartments, premium residential apartments and high-end retail outlets. The development will include 630 residential apartments including two and three bedroom apartments, as well as 184 serviced apartments and 4,600sqm of retail space.

Arabtec is also currently in discussions with international companies to manage the development’s luxury hotel, which will contain 398 rooms.The development will provide 809 parking spaces, as well as other recreational facilities such as swimming pools, gym and spa. This project is currently in the design phase, and is expected to be completed by 2018.The third Abu Dhabi-based project is the Rancho Ghantout Development, which is still in the master plan development and feasibility study phases.

In Dubai, Arabtec will develop two projects, Viceroy Tower and the development. Viceroy Tower development will consist of two towers located in the heart of Business Bay in Dubai. The first tower will offer a luxurious hotel with 440 rooms, while the second tower will have 136 serviced apartments. The towers will also provide top-of-the-line spa and health club facilities, and retail outlets servicing tenants and the area, as well as 630 parking spaces. The 123,000sqm project is set for completion in November 2015.

Located on Dubai’s Shaikh Zayed Road, it is a mixed-use development that will house a luxurious hotel and serviced apartments in addition to a variety residential apartments and boutique offices with top-of-the-line facilities.The hotel will house 180 residential apartments comprising one, two and three bedroom apartments, as well 215 serviced apartments and 8,148sqm of retail and commercial space.

The development’s five-star hotel will include 324 hotel rooms, to be managed by the internationally renowned Viceroy Hotel Group. The project is expected to be completed in February 2018.

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Tree-Like Shopping Center in Mexico is Built From Reused Railway Sleepers.

Tree Like Structure-1

The metal structure of the 2,000 square meter plaza echoes the verticality of the surrounding logs. Reused wooden railway sleepers serve as blinds that help control day lighting and indoor temperature. The buildings are interwoven with the natural environment to create a series of courtyards that establish a delicate interior-exterior dynamic.

Tree Like Structure-2

Read more: Tree-Like Plaza Andaro Shopping Center in Mexico is Built From Reused Railway Sleepers Plaza Andaro CANOVERA Arquitectura – Gallery Page 2 – In-habitat – Sustainable Design Innovation, Eco Architecture, Green Building.

Existing trees located in the center of the complex act as an organizational pivot point. The buildings overlook this area and provide connections to it that allow for circulation. The complex is an urban oasis that offers more than 20 exclusive shops.

The project received recognition for excellence in sustainability at the Salón Internacional de la Edificación (SAIE) 2014.

Link : http://www.plataformaarquitectura.cl/

 

 

 

 

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Kuwait Oil posts KWD 1.127 bln ($4bn) profit for fiscal year ’13-14.

Kuwait Oil Company (KOC) said Monday profits for 2013-14 fiscal year ending on March 31 amounted to 1.127 billion Kuwaiti Dinars (KD) ($ 4 billion).

KOC CEO Hashem Hashem said the board members met earlier today to discuss the final statement and achievements of the state-owned company in the 2013-14 fiscal year.

Speaking to KUNA, Hashem said KOC was looking forward to increasing crude oil production and developing the Jurassic gas fields in northern Kuwait with the objective of producing a billion cubic feet of non-associated gas.

KOC, he added, also sought to develop heavy oil wells in northern Kuwait as well as increasing onshore and offshore explorations coupled with the use of state-of-art technologies.

Hashem said KOC planned to diversify crude oil exports to normal crude, heavy oil and light oil. Kuwait is currently exporting the Kuwaiti crude only.

The company, Hashem noted, was working hard to reduce the burning of gas to one percent. KOC would also build the new Ahmadi Hospital and modernize Ahmadi City.

Via : KUNA

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Construction of world’s tallest building is set to begin next week in Saudi Arabia.

kingdom-tower-1

Once finished, the $1bn (SR: 4.6bn) Kingdom Tower in Jeddah will stand 1km (3280ft) high – four times taller than The Shard, in London, and over 500 feet taller than Dubai’s Burj Khalifa, the current record holder.

The tower will take five years to construct. It is expected to use half a million cubic meters of concrete and around 80,000 tons of steel.The finished building will cover a total area of over 500,000m2 and have 200 floors. There will be 59 elevators, including five that are double deckers. Those that take visitors to the observatory will travel at 10 meters per second.

The Kingdom Tower will be the centerpiece of the £13bn Kingdom City development just north of Jeddah, overlooking the Red Sea.The new city will consist of over 5.3mn m2 of urban development including housing, commercial property, hotels, offices, shops, educational and commercial centers.

Waleed Abdul Jaleel Batterjee, CEO of the Jeddah Economic Company, said: “The vision of constructing the tallest tower in the world in Jeddah belongs to HRH Prince Al Waleed bin Talal.

“His vision is also that the project itself will set the world’s sights on our beloved Kingdom of Saudi Arabia and particularly on Jeddah. Furthermore, the project will help create hundreds of jobs for our Saudi country men.”

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Dubai’s Nakheel invites bids for Palm Boardwalk project .

Property developer Nakheel has invited bids for the design and construction of its planned 11km Boardwalk project on Palm Jumeirah in Dubai.The Boardwalk, unveiled at Cityscape 2013, will transform Palm Jumeirah’s protective crescent into a destination for walking, shopping and dining, and create a new focus for the island.

Nakheel said in January that it had hired Halcrow as the design consultant for the 11km long pedestrian pathway.It will feature two 100-metre piers, stretching into the waters of the Gulf and offering extensive views of the Palm Jumeirah and Dubai’s skyline.

The scope of tender will include the designing and building of an elevated boardwalk and includes associated modification works to the existing breakwater; and two piled deck piers including restaurant buildings.The Boardwalk will include an East and West Pier – each stretching 100 metres out to sea – offering extensive views and featuring a range of glass-encased cafes and restaurants.

The deadline for the completed bids is May 28, Nakheel said.* Nakheel no longer responds to media enquiries from Arabian Business, nor does it grant Arabian Business access to any of its media events or announcements.

 

Via : Arabian Business

 

 

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Bid deadline for a $4.3bn Kuwait’s northern Ratqa field oil project may be extended.

Kuwait Oil Company chief executive Hashem Hashem has revealed that the bid deadline for a $4.3bn (KWD 1.2bn) oil project in Kuwait’s northern Ratqa field may be extended if companies continue to have queries.

The current deadline for bids to secure the engineering, procurement and construction contract is 11 May.Speaking on the sidelines of an oil conference, Hashem added that the company plans to award the contract for the first phase of the project to produce heavy oil later this year, according to a report in Arab News.

The project is part of efforts to meet Kuwait’s target of producing 4mn barrels of oil per day (bpd) by 2020. Kuwait currently produces around 3mn bpd and exports around two-thirds.“This is (for) facilities needed to develop heavy oil, to be able to produce up to 60,000 (bpd),” for the first phase of the project.

All the international EPC contractors showed interest, and they are actively participating in this bid,” he said. KOC will spend about three months assessing the bids and award the contract by about October, he added.

The 60,000 bpd project should be online by 2017 or 2018, he told the conference, with production set to reach 120,000 bpd by 2020. KOC will evaluate whether it needs to raise this to 270,000 bpd beyond that date, he said.

Via : Arab News

 

 

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KNPC to invest USD 35bn in next five years.

Kuwait National Petroleum Company (KNPC) will invest USD 35 billion in expanding and development projects in the coming five years, said the company’s Chief Executive Officer Mohammad Ghazi Al-Mutairi.

“At the forefront of these projects came the multi-billion dollar clean fuel project, theC, the fifth natural gas plant and the construction of new liquefied natural gas import facilities,” Al-Mutairi said Tuesday in his speech at the second day of the third Kuwait Oil and Gas Summit and Exhibition.

Al-Mutairi underlined that the strategic projects would have great impacts on Kuwait’s oil products competitiveness on the global market.”These projects would help Kuwaiti products enter new international markets thanks to its high quality and competitiveness and give a push to national economy and development in the country.

The KNPC signed this week the contracts of the USD 12 billion-worth clean fuel project with three international consortia. The project aims at upgrading and expanding the existing KNPC two refineries at Mina Abdulla and Mina Al-Ahmadi. The project will transform the refineries into an integrated merchant refining complex that meets the requirements of the world oil market. It will also increase the refining capacity to 800,000 barrels a day.

The new multi-billion dollar Al-Zour refinery will be one of the largest oil refining plant worldwide. It will help supply low sulfur fuel (less than 1 percent) to the local power plants.Al-Mutairi said the best mean to ensure the success of any project is the existence of executive programs that includes deadline and separate evaluation for each stage of the project.

He added that the KNPC hires highly-qualified international experts to apply and the transfer to the company the latest project management approaches.Al-Mutairi expected that the world’s oil refining map would be changed within the coming years as North America continent have turned from importer to exporter of oil products.

He added that the global refining output will increase in the next five years to the equivalent of 9.5 million barrels a day.Al-Mutairi shed lights on a number of the main challenges facing the company and the whole oil sector in Kuwait and the proposed means to address them.

Via : KUNA

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Kuwait plans to award $4.3bn it’s first phase of heavy oil production project.

Kuwait plans to award a KD1.2 billion ($4.3 billion) contract later this year for the first phase of a project to produce heavy oil at its northern Ratqa field, the head of state-owned Kuwait Oil Company (KOC) said.

The project is part of efforts to meet Kuwait’s target of producing 4 million barrels of oil per day (bpd) by 2020. The OPEC member currently produces around 3 million bpd and exports around two-thirds.

The deadline for bids for the engineering, procurement and construction (EPC) contract is May 11, but this may be extended if companies continue to have queries, KOC Chief Executive Hashem Hashem told reporters on the sidelines of an oil conference on Tuesday.

“This is (for) facilities needed to develop heavy oil, to be able to produce up to 60,000 (bpd),” he said of the planned first phase of the project at Kuwait’s northern Ratqa field.

“All the international EPC contractors showed interest, and they are actively participating in this bid,” he said. KOC will spend about three months assessing the bids and award the contract by about October, he added.

The 60,000 bpd should be online by 2017 or 2018, he told the conference. By 2020, the production should be 120,000 bpd and KOC will evaluate whether it needs to raise this to 270,000 bpd beyond that date, he said.

Kuwait’s oil production comes mainly from a few mature fields, dominated by the huge Burgan field in the south of the country. Kuwait’s current capacity is around 3.25 million bpd, with KOC’s share at around 3 million bpd, Hashem said.

To bring the capacity up to 4 million bpd by 2020, KOC will contribute an extra 650,000 bpd, he said.”The growth of production is going to come from north Kuwait,” he said. Currently KOC is producing around 700,000 bpd there and will boost this by 300,000 bpd, he said.

Hashem expected that Kuwait’s Jurassic gas field project, also in the north, would produce an associated 300,000-350,000 bpd of light oil.Asked whether Kuwait was looking at shale gas production, Hashem said there was potential for it but that such operations were low on KOC’s priority list.”We have a huge bundle of reserves. The priority of shale gas … is not that big.”

Via: Reuters

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Samsung Engineering signs $3.8bn Kuwait clean fuels deal.

Samsung Engineering has signed a deal for the Kuwait Clean Fuels Project worth approximately $3.8bn.

The company has a 42.9% stake in a consortium that landed one of two packages to upgrade the Mina Abdullah refinery alongside partners Petrofac (which has a 46.9% stake) and CB&I Netherland (10.2%). Its element of the contract is worth $1.62bn.

The work will see the capacity of the Mina Abdullah Refinery increase to handle 260,000 barrels of oil per day (bpd). It is part of a $12bn upgrade of two refineries for Kuwait National Petroleum Company (KNPC) that will increase capacity to 800,000bpd. Work on the Mina Abdullah refinery is set to complete in 2018.

Samsung Engineering said that its president & CEO Park Choong-Heum attended an official signing ceremony with Kuwait’s Minster of Oil, Ali Saleh Al-Omair.

Mr. Choong-Heum said: “It fills me with great pride and pleasure that we take part in such a momentous and historic project of Kuwait. Rest assured that Samsung Engineering will use its expertise so that we may fully contribute to Kuwait’s sustainability and economic growth.

“With our commitment to safety, we will make sure to deliver the project successfully and we hope to create a lasting business relationship with KNPC.”

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Five South Korean firms win combined $7.2 bln in Kuwait refinery orders.

Five South Korean companies have won a combined $7.2 billion in orders from Kuwait National Petroleum Company to expand capacity and improve environmental standards at two oil refineries.

The contracts, which stem from $12 billion in bids approved in February for the state-run company’s Clean Fuels Project, highlight efforts by South Korean builders to shore up margins via joint bids with other local or foreign firms for major overseas construction projects.

Korean companies are increasingly forming consortiums with established overseas companies and that is helping them to win better value contracts, said Yun Sok-mo, an analyst at Samsung Securities.

Overseas plant orders won by South Korean builders during the first quarter rose by 42.1 percent from a year ago, according to the Ministry of Trade, Industry and Energy in a report earlier this month.

The ministry said prospects for further growth in overseas orders looked good given expectations for continued global economic recovery and growing demand for energy-related work.

Daewoo Engineering & Construction Co Ltd said in statement on Monday that it won an order for the Mina Abdullah refinery in Kuwait as part of a joint venture with Hyundai Heavy Industries Co Ltd and Fluor Corp .The order is worth $1.13 billion each for the three companies, according to Daewoo.

Samsung Engineering Co Ltd , in a regulatory filing on Monday, said it got a separate $1.62 billion order for the Mina Abdullah refinery as part of a joint venture with Petrofac Ltd and Chicago Bridge & Iron Company NV.

GS Engineering & Construction Corp and unlisted SK Engineering & Construction Co Ltd also said they got an order for refinery work in Kuwait as part of a joint venture with Japan’s JGC Corp .

The third order, for the Mina Al-Ahmadi refinery, is worth around $1.66 billion for each of the three companies, according to GS Engineering and SK Engineering.

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Drake & Scull signs AED 128 mln projects in Kuwait.

Drake & Scull Kuwait (DSI Kuwait), a subsidiary of Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, has won a major engineering contract worth AED 68 million for Sheikh Jaber Al Ahmad Cultural Center in Kuwait City. The company further revealed that it has also bagged an MEP deal worth AED 60 million for a healthcare facility in Shuwaikh and two commercial developments in Al-Qebla.

Under the terms of the first agreement, DSI Kuwait will undertake supply, installation, testing and commissioning of plumbing and fire fighting works, including defect liability to be completed by October 2015. Located near Al Salam Palace in the heart of the Kuwait City, the Sheikh Jaber Al Ahmad Cultural Center will be an iconic building, reflecting the evolution of Kuwaiti cultural and heritage landscape. It would be equipped with state-of-the-art facilities required to organize a wide range of cultural activities.

DSI Kuwait will also carry out the MEP works for two commercial developments in Al-Qebla area of Kuwait. The scope of work includes renovation and maintenance along with replacement of chillers, electric main panels and boards. Both developments are already under progress and will be delivered by June 2015. The company has also bagged an MEP contract for a healthcare facility in Shuwaikh. The scope of the project involves heating ventilating and air conditioning (HVAC) along with plumbing and fire fighting works. The work for this healthcare facility is already in advance stages and will be handed over by March 2015.

Mahmoud Sabri, Area General Manager, Drake & Scull Kuwait, said: “We are delighted to have secured these major project wins, which put us on the right footing towards achieving our targets and executing our strategy in Kuwait. The Sheikh Jaber Al Ahmad Cultural Center promises to become a major landmark for Kuwait, and we will endeavor to make it a proud addition to Kuwait’s skyline. We have proven our capabilities and established our position in Kuwait as leaders in the Engineering business, and have successfully undertaken and delivered significant projects like the State Audit Bureau Headquarters.

We have maintained our track record of ensuring delivery of these projects on schedule, and see a lot of promise in the market, particularly in the Rail sector where Drake & Scull Rail can deliver Rail networks and stations. We are equipped with the region’s leading skilled workforce and technologies and are prepared to undertake more work as Kuwait embarks on its ambitious expansion plans this year. Kuwait remains an important market for DSI and an important contributor to the company’s revenue stream.”

DSI Kuwait has been operating in the country since 2004 and has been associated with several prominent construction and engineering projects, including the Special Training Centre for Public Authority for Applied Education and Training in Chuwaikh, the College of Basic Education – Boys Campus in Ardiya, and the Kuwait State Audit Bureau office. The company is currently delivering the College of Business, College of Arts and the College of Health and Sciences for Girls besides the Shaikh Saad Sports Hall.

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