W R Grace in Jebel Ali move
US concrete manufacturer W R Grace is expanding its construction chemical plant in Jebel Ali, UAE.
W R Grace operates a manufacturing facility at the Jebel Ali Free Zone, a major business hub in Dubai. The facility produces specialty construction chemicals, including concrete admixtures and cement additives. The facility is currently being expanded to increase output of those materials and to add masonry products, fireproofing, waterproofing materials and systems.
Senegal deal for Jafza
UAE-based firm Dubai World Group’s Jafza subsidiary has signed a $800m deal to build and run a special economic zone in Senegal. Construction will start before the end of 2008 on the first phase of the project, covering 650 hectares next to a planned international airport, 45 kilometres from the capital, Dakar. Operations are due to begin in 2010 and should attract 1000 companies and create some 30,000 jobs.
Saudi JV for Norsun
NorSun of Norway has signed a joint-venture agreement with the Saudi Arabian companies Swicorp-Joussour and Chemical Development Company to establish a joint-venture company with the aim to build and operate a polysilicon complex in the industrial city of Jubail in Saudi Arabia. The production capacity of polysilicon at the plant will be the equivalent of 500 megawatts a year, with production planned to commence in 2010. The site will allow for subsequent expansions up to an annual production capacity equivalent to 2000MW.
Interpipe announces UAE plan
Ukrainian firm Interpipe, a leading producer of steel pipes and railway wheels, has announced the opening of a warehouse facility in Jebel Ali Free Zone in Dubai, UAE. The new Interpipe facility will provide a wide range of the company’s pipe products for the oil and gas, construction (fire-fighting, air conditioning, water transportation systems), housing and other industries to reduce delivery times for customers across the region.
$80m hotel deal for Dubai
Spanish hotel and tourism company Grupo Rayet is investing $80m in a hotel and tourism construction project in Dubai. Unico, a luxury brand of hotels that is part of the Grupo Rayet, will open a 131-room hotel in Dubai’s Jumeirah Lake Towers scheduled to open in the first quarter of 2009.
This investment news and data has been provided by OCO Global, a provider of strategic consulting services for economic development organisations in the area of FDI. Key services include management consultancy, investor targeting services, training and mentoring, and software development.
Middle East FDI, 2007 (number of projects):
Source: OCO Global
Middle East FDI, 2007 (number of jobs):
Source: OCO Global