Al Khalij commercial Bank (Al Khaliji) Q.S.C and its subsidiary, Al Khaliji France S.A have announced their participation in a US$1.1bn, seven-year financing deal for Abu Dhabi's Emirates Steel Industries (ESI).

Egyptian group, El Sewedy Cables, has reportedly revealed it is due to set up a US$50m cable manufacturing plant in Libya by the end of 2011.

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 Egypt's 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 region's 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.