AVIATION-

KSA’s Al Wajh Airport is getting a revamp: Multi-project developer Red Sea Global, which is owned by the Saudi sovereign wealth fund, will carry out refurbishment work at Al Wajh Airport in Saudi Arabia, according to a press release. The project aims to modernize the airport and bring it up to international standards by upgrading its terminal and infrastructure. Red Sea Global is also building a new international terminal at the airport. In addition to the upgrades, four Saudia flights will be transferred from Al Wajh to Red Sea International Airport, according to the press release.

This is the second airport revamp news coming out of KSA this week: Saudi Arabia earlier this week unveiled expansion plans for its Abha International Airport to 65k square meters, in a bid to increase passenger capacity, flights, and air connectivity in the Asia region.

Bahrain + MIDRMA discuss issues relating to civil aviation in the region: Bahrain’s Transport and Communications Ministry and the Middle East Regional Monitoring Agency (MIDRMA) held a meeting in Geneva where they discussed several issues related to civil aviation in the Middle East, according to a statement. The topics discussed included the responsibilities and tasks related to evaluating air navigation performance, including providing the necessary information about the requirements of minimum vertical separation between aircraft. Also during the meeting, Director of the Aviation Safety and Security Department at Brahrain’s Civil Aviation Affairs Abdullah Hassan Al Qadi was appointed as chairman of the Middle East Regional Monitoring Agency.

ZONES-

SCZone + Chint Global discuss clean energy cooperation: The Egyptian Suez CanalEconomic Zone’s (SCZone) Vice President for Investment and Promotion Affairs Ibrahim Abdel Khaleq discussed with Chinese manufacturer electrical equipment supplier Chint Global the possibility of cooperating in renewable and green energy, according to a statement. During the meeting, which took place on the sidelines of Chint Global’s International Forum in Shanghai, the SCZone invited Chint Group to increase its investments in Egypt to serve the renewable and green energy sectors. The Egyptian delegation was also introduced to all of the Group’s technologies and equipment and its solar energy station in Shanghai, according to the statement.

MARITIME + SHIPPING-

Al Seer Marine adds another VLGC to its fleet: Abu Dhabi based International Holding Company’ subsidiary Al Seer Marine has received a very large gas carrier (VLGC) — dubbed North Gas — with 84.3k cubic meters in capacity, Emirati news agency Wam reports. North Gas was built by Hyundai Heavy Industries (HHI) and was transferred to ABGC in Korea earlier in the month. This marks the second VLGC delivery for Al Seer Marine under the AED 459 mn agreement by ABGC, a joint venture between Al Seer Marine and BGN International, with the first VLGC — dubbed Lucky Gas — delivered in June. Al Seer Marine’s fleet now has 20 ships.

CAPITAL MARKETS-

The world’s first BRI green bond is now listed on Nasdaq Dubai: The Bank of China has issued the world’s first Belt and Road Initiative-Partner-Themed green notes worth USD 770 mn on Nasdaq Dubai through its Dubai and Luxembourg branches, according to a press release. The Luxembourg branch unveiled an offshore RMB product worth RMB 2 bn (USD 270 mn), while the Dubai branch released a USD 500 mn secured overnight financing rate (SOFR) floating-rate product, each with a three year term, according to the release. The proceeds generated by the two notes will be allocated to fund eligible green projects located in BRI-partner countries, including the UAE, Saudi Arabia, Portugal, Austria, Bulgaria, and Poland.

ALSO WORTH KNOWING-

  • Oman’s Civil Aviation Authority has inked a memorandum of cooperation with OQ Group and Sky Energy to study the possibility of developing a unit to produce sustainable jet fuel in Oman. (ONA)
  • State-owned Omani energy firmOQ has invested over USD 10 bn in several projects in Duqm, Oman, including the Ras Markaz Oil Storage Terminal. (Times of Oman)
  • Saudi air cargo carrier Saudia Cargo has secured the Centre of Excellence for Independent Validators (CEIV) Pharma certification from the International Air Transport Association. (Statement)
  • The Syndicate of Owners of Clearance and Cargo Transport Companies and the Joint Syrian-Jordanian Free Zone have agreed to establish a partnership council to facilitate procedures of transporting goods between Syria and Jordan, andbring in new investors to the zone. (FANA news)
  • Universal Postal Union (UPU) has inked an agreement with Qatar’s Minister of Communications and Information Technology to set up UPU’s regional office in Doha. (Press release)
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