Energy

Alstom has been awarded an electrical power-plant contract in Iraq worth US$550mn.

Production capacity at the switchgear plant of Voltamp Energy has been significantly enhanced with the addition of a new manufacturing bay and offices adjacent to its already existing building at Rusayl at a cost of US$1.2mn

Kuwait, one of the Middle East?s main oil producers which is facing internal electricity demand growing by about 8 per cent? a year ? much of it caused by heavy use of air conditioning systems ? has outlined the most ambitious target for using renewable energy seen in the Gulf region.

Saudi Electricity Co (SEC) reported a 6 per cent decline in its net profit in the third quarter due to higher costs of purchased energy and increased depreciation expenses.