Indian TCI Sanmar Chemicals to invest $200m in Egypt

India-based chemical producer, TCI Sanmar Chemicals, is planning to inject $200 million into the Egyptian market in a move that will bring the company’s total investment in the Arab country to $1.7 billion. CEO, Sherif Al-Menoufi, Al Mal News reported, Read more

Jordan discovers major gas field near border with Iraq

Jordan has discovered a major gas field with “promising amount” of resources, near its eastern border with Iraq. The “digging operation” at “Well 53″ at the Risha oil field yielded the breakthrough, Energy Minister Hala Zawati announced on Twitter announced Read more

Egypt to host Eastern Mediterranean Gas Forum headquarters

The Egyptian capital Cairo has been chosen to house the headquarters of the eastern Mediterranean Gas Forum, Arab Finance reports citing statement from Ministry of Petroleum and Mineral Resources. Egypt, Jordan, Greece, Cyprus, Italy, and Israel according to the ministry Read more

Iraq to fast-track signing of Nibras petrochemical complex project with Shell

Iraq will accelerate before end of the year the signing of the pending agreement on Nibras petrochemical complex project with Shell, oil minister of the Arab country has told media. “After a series of meetings with Shell representatives over the Read more

Japanese banks sign joint loan to fund Qatar’s biggest mega solar power plant

The Japan Bank for International Cooperation (JBIC) and Mizuho Bank have signed a syndicated bank facility worth $330 million to fund the construction of Qatar’s first mega solar power plant, Japan Times reports. “This loan is expected to contribute to Read more

Oman sets mid-2021 to launch operations of biggest solar plan

Oman will launch operations of its biggest solar plan, Ibri II, by mid-2021, Trade Arabia reports. The project located in near Ibri, the capital of the Dhahirah Governorate, is currently under construction. Acwa Power, Gulf Investment Corporation (GIC) and Alternative Read more