THE UAE HAS earmarked just about a third of its 2010 budget - 10.7 billion dirhams (US$2.9 billion) - to infrastructure projects, daily newspaper Gulf News reported recently.
ABB, A LEADING power and automation technology group, has won an order worth US$48mn from the SEPCO III Electric Power Construction Corporation, a leading Chinese EPC (Engineering, Procurement, Construction) company, to deliver a substation for a new power plant in Saudi Arabia.The order was booked in the fourth quarter of 2009.
RUBBER WORLD INDUSTRIES (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, revealed that it has supplied a total of 120 containers of rubber insulation products worth US$1.22mn to customers based in Iran in 2009.
METITO, THE UAE-based utilities provider, is unlikely to go for an IPO this year and may opt to concentrate on aggressive expansions first.
ROLLS-ROYCE, THE global power systems company, has signed a tenancy agreement with the Qatar Science and Technology Park (QSTP).
Alain Charles Middle East FZ-LLC
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