Manufacturing

Kuwait based Investment company, North Africa Holding Company (NorAH), has announced that it has acquired a 50 per cent stake in Kandil Glass, one of Egypts leading manufacturers of glass containers.

Zamil Air Conditioners, the leading international manufacturer and service provider of air conditioning systems in the Middle East, has been awarded multiple contracts to provide custom climate control systems for the first phase of Makkah Metro Railway project.

The regions oil producers are set to pump nearly US$22 billion into new aluminium projects and expansion of existing smelters in the next five years as part of an ongoing industrial drive to move away from reliance on oil exports, reports Emirates 24/7.

Emirates Steel, the largest integrated steel producer in the UAE and a strategic steel player in the Middle East steel industry, recently signed a US$1.1bn, seven-year project financing agreement with a consortium of seven conventional banks and two Islamic finance institutions.