{"id":76024,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/10\/today-al-dar-goes-big-on-logistics-infrastructure-investment\/"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"today-al-dar-goes-big-on-logistics-infrastructure-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/10\/today-al-dar-goes-big-on-logistics-infrastructure-investment\/","title":{"rendered":"TODAY: Al Dar goes big on logistics infrastructure investment"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a packed issue this morning with stories from around the region and beyond, but first\u2026<\/p>\n

A quick programming note:<\/strong> Enterprise Logistics will be taking a publication holiday tomorrow and be back in your inboxes at our regularly scheduled time on Monday morning.<\/p>\n

THE BIG LOGISTICS STORY- <\/strong>UAE-based real estate developer Al Dar properties will invest some AED 1 bn to boost its logistics infrastructure in the UAE and gain a foothold in Dubai.<\/p>\n

^^ We have the details on this story and more in the news well, below.<\/p>\n

<\/a> <\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- Oman + India CEPA talks continue next week: <\/strong>Oman and India will hold the next round of negotiations for a proposed Comprehensive Economic Partnership Agreement (CEPA) next week on 16 January and plan to finalize the agreement later this month, The Economic Times<\/a> reports. The discussions will cover the implementation of duty concessions on petrochemical products, including polypropylene and polyethylene, Outlook India<\/a> reports, citing a government official. Private and public Indian players have opposed the concession, stating that Oman\u2019s existing subsidies in the industry would place Omani firms at an advantage.<\/p>\n

In the making:<\/strong> Two rounds of in-person discussions on the CEPA have already been held, the Economic Times writes. Oman is India\u2019s third largest export destination in the GCC, with bilateral trade valued at USD 12.3 bn in 2022-2023. <\/p>\n

<\/a>#2- Iraq\u2019s Grand Al-Faw Port expansion plans take a step: <\/strong>A delegation from the General<\/a>Company for Ports of Iraq<\/a> met with Third Harbor Consultant Company, a division of state owned contractor China Communications Construction Company<\/a>, according to a statement<\/a>. The visit saw a technical proposal for the establishment of Container Terminal No. (2) that is planned for inclusion in the expansion of Grand Al-Faw Port, the statement said.<\/p>\n

<\/a>#3- <\/strong>Hyundai Rotem competes for Moroccan railway project<\/strong>:<\/strong> Morocco\u2019s National Office of Railways (ONCF) has received its latest offer for its railway project from South Korean rail manufacturing company Hyundai Rotem, Kech24<\/a> reports. The project includes the tender to acquire 168 trains<\/a> valued at MAD 16 mn. The move aims to meet growing demand for train travel in the country and to modernize part of the rail fleet.<\/p>\n

Others have thrown their hats in the ring: <\/strong>Several international companies have already submitted offers including Spanish rolling stock manufacturer CAF<\/a>, German sustainable transport solutions provider Siemens Mobility<\/a>, Chinese rail manufacturer CRRC<\/a>, Japanese transport solutions provider Hitachi Rail<\/a>, and Spanish rolling stock manufacturer Talgo<\/a>. <\/p>\n

\n

MARKET WATCH- <\/p>\n

Oil rallied USD 1 on Tuesday as Middle East tensions and a <\/strong>supply outage in Libya buoyed prices, <\/strong>offsetting downward pressure from flagging demand and larger OPEC supplies, Reuters<\/a> reports. Brent crude rose 1.75% to USD 77.45 per barrel, while West Texas Intermediate crude futures bumped up 1.82% to USD 72.06 per barrel. The latest surge has seen oil rebound from a 3% to 4% loss on Monday following KSA\u2019s move to slash official selling prices (OSP)<\/a>.<\/p>\n

\n

DATA POINT- <\/p>\n

T<\/strong>he <\/strong>Amman Chamber of Industry (ACI)<\/a><\/strong> recorded a total export v<\/strong>alue of JOD 7.2 bn for 2023, <\/strong>down 5% y-o-y, Petra<\/a> reports. Arab countries took the lion's share of the chamber\u2019s exports at some JOD 3.3 bn. India, the US, KSA, and Iraq accounted for over half of the chamber\u2019s exports at JOD 4 bn. Exports to Iraq surged 22% y-o-y to JOD 875 mn, while KSA exports saw a 6% yearly bump to JOD 808 mn, and US exports rose 18% during the period to JOD 1.2 bn. Meanwhile Indian exports declined 16% y-o-y to JOD 1.2 bn, the report said.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

KSA will host the <\/strong>Roshn Supply Chain Forum<\/a><\/strong> on Thursday, 11 January<\/strong>, in Riyadh. The event will host a series of discussions centering around supply chain growth with applications to real estate by bringing together consultants, contractors, manufacturers and other supply chain professionals. <\/p>\n

The UAE will host <\/strong>Transport Middle East<\/a><\/strong> from Tuesday, 23 January through to Thursday, 25 January<\/strong> in Abu Dhabi. The event will see more than 30 speakers come together to tackle the current challenges in global transportation and logistics.<\/p>\n

Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. We have a packed issue this morning with stories from around the region and beyond, but first\u2026 A quick programming note: Enterprise Logistics will be taking a publication holiday tomorrow and be back in your inboxes at our regularly scheduled time on Monday morning. 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