{"id":74210,"date":"2023-10-17T00:00:00","date_gmt":"2023-10-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/17\/another-saudi-airport-to-get-a-revamp-sczone-eyes-more-green-energy-cooperation-and-al-seer-marine-gets-new-vlgc\/"},"modified":"2023-10-17T00:00:00","modified_gmt":"2023-10-17T00:00:00","slug":"another-saudi-airport-to-get-a-revamp-sczone-eyes-more-green-energy-cooperation-and-al-seer-marine-gets-new-vlgc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/17\/another-saudi-airport-to-get-a-revamp-sczone-eyes-more-green-energy-cooperation-and-al-seer-marine-gets-new-vlgc\/","title":{"rendered":"Another Saudi airport to get a revamp + SCZone eyes more green energy cooperation, and Al Seer Marine gets new VLGC"},"content":{"rendered":"

AVIATION-<\/strong><\/p>\n

KSA\u2019s Al Wajh Airport is getting a revamp:<\/strong> Multi-project developer Red Sea Global<\/a>, 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<\/a>. 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. <\/p>\n

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

Bahrain + MIDRMA discuss issues relating to civil aviation in the region: <\/strong>Bahrain\u2019s 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 <\/a>statement<\/a>. 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\u2019s Civil Aviation Affairs Abdullah Hassan Al Qadi was appointed as chairman of the Middle East Regional Monitoring Agency.<\/p>\n

ZONES-<\/strong><\/p>\n

SCZone + Chint Global discuss clean energy cooperation:<\/strong> The Egyptian Suez Canal<\/a>Economic Zone\u2019s<\/a> (SCZone) Vice President for Investment and Promotion Affairs Ibrahim Abdel Khaleq discussed with Chinese manufacturer electrical equipment supplier Chint Global<\/a> the possibility of cooperating in renewable and green energy, according to a statement<\/a>. During the meeting, which took place on the sidelines of Chint Global\u2019s 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\u2019s technologies and equipment and its solar energy station in Shanghai, according to the statement.<\/p>\n

MARITIME + SHIPPING-<\/strong><\/p>\n

Al Seer Marine adds another VLGC to its fleet: <\/strong>Abu Dhabi based International Holding Company\u2019 subsidiary Al Seer Marine<\/a> has received a very large gas carrier (VLGC) \u2014 dubbed North Gas \u2014 with 84.3k cubic meters in capacity, Emirati news agency Wam<\/a> 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 \u2014 dubbed Lucky Gas \u2014 delivered<\/a> in June. Al Seer Marine's fleet now has 20 ships. <\/p>\n

CAPITAL MARKETS-<\/strong><\/p>\n

The world\u2019s first BRI green bond is now listed on Nasdaq Dubai:<\/strong> The Bank of China has issued the world\u2019s 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<\/a>. 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.<\/p>\n

ALSO WORTH KNOWING-<\/strong><\/p>\n