Saudi Arabia has reimposed a five per cent customs duty on steel rebars and cement imports following an oversupply in the domestic market. However, the duties will only be levied on rebars and cement imported from non-GCC countries. The decision came into effect January 1st.
Aamal Company (Aamal), a GCC-diversified conglomerate, announced that its subsidiary Aamal Cement Industries has officially commenced operations at its newly opened cement block manufacturing plant in Messaid, Qatar.
GLOBAL DEMAND FOR mining equipment (including separately sold parts and attachments) is projected to increase 4.9 per cent per year through 2013 to US$58 billion. China and India will be leading sources of mining equipment demand.
INFRASTRUCTURE SPENDING BY Gulf countries is expected to reach US$205 billion by 2013, according to recent estimates by Standard Chartered Bank. Although funding has emerged as a big challenge in the context of the global credit crisis, economists expect governments to support most infrastructure projects, and bond issues will be a major source of funding for many of these projects.
THE POTENTIAL FOR used machinery in float glass industry is set to rise as the present economic conditions push companies planning expansion to cut costs, says Johan Coenen, General Manager of Glass Market Consultancy (GMC).