Fund will be used to finance top infrastructure projects, boost connectivity across the nation
Updated 24 March 2021
March 24, 2021 19:01
JAKARTA: Indonesia on Wednesday welcomed the UAE’s commitment to invest $10 billion in its recently launched sovereign wealth fund, which a senior official said made the emirates the “largest major investor” in the initiative.
“With this investment, so far the UAE has become the largest major investor in the Indonesia Investment Authority (INA),” Husin Bagis, Indonesia’s ambassador to the UAE, told Arab News on Wednesday.
“The joining of the UAE further shows the high level of international confidence to invest in the INA and would attract other world investors to join and invest,” he added.
Saudi Arabia seeks bids for major SWRO desalination plant
RIYADH, December 31, 2020 Saudi Water Partnership Company (SWPC) has issued requests for qualification (RFQs) for the development of a independent desalination plant in Ras Mohaisen area of the kingdom. Located 300 km south of Makkah on the Red Sea coast in the Western Province, the Ras Mohaisen Independent Water Project will be designed using seawater reverse osmosis (SWRO) desalination technology and include all associated infrastructure and facilities. On completion, the new IWP will boast a total treatment capacity of 300,000 cu m per day, said a statement from SWPC. The project s commercial operation date has been set as 2024, it added.
GCC’s Best Completed Projects
December 18, 2020
MEED-GlobalData has revealed the winners of its 10th annual MEED Project Awards at an awards ceremony in Dubai. The awards celebrate the GCC’s best projects completed in 2018 and 2019.
25 organizations from UAE, Saudi Arabia, Kuwait, Bahrain, and Oman were commended for their achievements across 19 unique categories – including Commercial Property Project of the Year, Digital Infrastructure Project of the Year, Healthcare Project of the Year and more – in delivering some of the GCC’s best projects, reiterating the efforts that the entire region is taking to develop projects that are strategically vital to the growth of the region, driving the GCC’s projects market forward.
The world s largest single-site solar development bagged multiple accolades at the MEED Projects Awards 2020
The UAE’s Noor Abu Dhabi solar development was named as the Project of the Year at the 2020 edition of the MEED Projects Awards.
The world’s largest single-site solar project also bagged two other awards: Mega Project of the Year and Power Generation Project of the Year.
MEED unveiled the winners of its 10
th annual MEED Projects Awards at a ceremony in Dubai, celebrating the GCC’s best projects completed in 2018 and 2019.
Noor Abu Dhabi emerged as one of the top contenders for the awards, buoyed by the integral role it is playing in helping the UAE achieve its national target of 50 per cent clean energy by 2050, of which 44 per cent is slated to come from renewable energy.
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