15 December 2019

TICKER TAPE: INTERNATIONAL

CHINA APPROVES $25BN RAIL PROJECTS

Authorities in China have reportedly cleared a $24.93 billion worth of railway projects, aimed at building five railway lines in different parts of the country. The rail lines will come up in the southern province of Guangdong, south-western provinces of Guangxi and Sichuan, Inner Mongolia and the western province of Gansu. This approval follows China's recent decision to invest more than $113 billion for railway projects. Meanwhile, China Railway was granted approval for 64 rail projects planned for this year.

 

$200 BN PROJECTS FILLIP FOR DUBAI

Development projects in Dubai are expected to see an investment of up to $200 billion over the next decade. It is reported government related enterprises, like Expo 2020 and Dubai World Central airport, will require an investment of $93 billion, while other mega-projects could push the total figure towards the $200 billion mark. The other mega projects include Downtown Dubai and Mohammed Bin Rashid City slated for completion over the next six to ten years, the plan to redevelop residential land by Meraas in the Jumeirah Gardens project at a cost of $90 billion, and the Downtown Jebel Ali project expected to cost $15 billion. 

 

HERRENKNECHT FOR SUEZ CANAL

Machines from tunnel boring major Herrenknecht AG will be engaged to bore at least four tunnels under the Suez Canal as part of the project to expand the waterway. It is reported the Egyptian army has contracted the German company to provide machines for three car and train tunnels in Port Said, the northern outlet of the canal into the Mediterranean Sea. The tunnels are being built by Orascom Construction and other Arab contractors. Close to half of the project's $8 billion budget to be used for expanding the canal will be allocated for building six tunnels, the Suez Canal Authority said.

 

QATAR LAUNCHES NEW SEZ

Authorities in Qatar have laid the foundation stone of the first of three new special economic zones being planned to help the state diversify from a hydrocarbon led economy. It is reported the Ras Bufontas project, spread over 4.1 sq. km. is coming up near the new Hamad International Airport. The Ras Bufontas SEZ will cater to companies in the communications, infotech, energy, logistics, construction, transportation sectors. The
other two zones to be constructed are Abu Nakhla and Um Alhoul.  The special economic zones would be the base of the country's private sector, focusing on small and medium enterprises.

 

$2 BN RIYADH BUS NETWORK CONTRACT

Authorities in the Saudi capital have signed a $2 billion contract with French state-owned public transport operator Regie Autonome des Transports Parisiens (RATP) to supply, operate and maintain the Riyadh Bus network. The time line for completion of the King Abdulaziz project for public transportation is 10 years and two years for preparatory work. As per the reports, the agreement includes supplying the city with 1,000 buses that will be capable of transporting 900,000 passengers a day. The transport network will consist of 22 routes covering about 1,200 km all over the city and will be serviced by 756 metro cars, 85 stations, six metro lines and 176-km network. 

 

CHINA BAGS NEPAL AIRPORT PROJECT

The Civil Aviation Authority of Nepal has awarded a contract for upgradation of the country’s Gautam Buddha Airport in Bhairahawa to China's Northwest  Civil Aviation Airport Construction Group. The scope of work for the $6 million project includes building a 3,000 m runway, to serve 760,000 passengers every year on completion, reconstruction of exits and parallel taxiways with flexible pavements, a new international aircraft parking apron with rigid pavements, conversion of one runway into a parallel taxiway, creation of a drainage system parallel to the runway, taxiway and diversion of the airport boundary. The renovated airport will become operational by the end of 2017.

 

ABB BAGS ETHIPIA RAIL CONTRACT

Power and automation technologies major ABB will deliver engineering equipment for a new rail corridor in Ethiopia. The $16 million contract has been awarded by Turkish transportation infrastructure  firm Yapi  Merkezi Construction and Industry. Part of a five-year growth and transformation plan of the Ethiopian Government, the 400 km Awash-Kombolcha-Weldia line is expected to be completed in 2017. Under the terms of the contract, ABB will be responsible for the design and delivery of engineered equipment packages for five 25kV traction substations, eight section posts and 30 auxiliary substations. The supply of products also include range of high and medium-voltage switchgear, traction transformers rated at 25 MVA, power factor correction (PFC) transformers, FSK II+ railway circuit breakers and auxiliary power supply equipment.

 

€75 MN ISTANBUL ATATURK EXPANSION

Turkish airport operator TAV has signed an agreement with the country's Directorate of State Airports Authority to develop the international terminal at Istanbul Atatürk Airport. The project which will cost €75 million will lead to the terminal’s expansion from 17,000 sq.m. to 27,000sq.m. and the inclusion of eight additional passenger boarding bridges, increased number of check-in counters, as well as baggage handling and car park capacities. The work is expected to be completed in 16 months. Incidentally TAV is responsible for operating Istanbul Atatürk Airport until 2021. Atatürk is Turkey's largest airport, receiving close to 52.1 million passengers in 2013.

 




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