{"id":81952,"date":"2024-10-28T00:00:00","date_gmt":"2024-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/a-slew-of-updates-from-oman-morocco-and-egypt\/"},"modified":"2024-10-28T00:00:00","modified_gmt":"2024-10-28T00:00:00","slug":"a-slew-of-updates-from-oman-morocco-and-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/a-slew-of-updates-from-oman-morocco-and-egypt\/","title":{"rendered":"A slew of updates from Oman, Morocco, and Egypt"},"content":{"rendered":"

MANUFACTURING- <\/p>\n

<\/strong>Knauf sets up its third factory in Egypt:<\/strong> Building material manufacturer Knauf is opening a new gypsum board factory in Egypt \u2014 its third so far \u2014 with investments of EUR 80 mn, CEO Mohamed Abdelrasoul told Prime Minister Moustafa Madbouly, a cabinet statement<\/a> said on Saturday. The new factory will push the firm\u2019s total production capacity to 60 mn sqm of gypsum boards annually and will reduce water and energy consumption by 35%, according to Abdelrasoul.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Knauf has big investments planned in Egypt<\/strong>: Abdelrasoul announced back in June<\/a> that the company is planning to increase its investments in Egypt to EUR 120 mn by 2026, up from EUR 50 mn<\/a> at the time. The funds were set to go toward expanding the company\u2019s existing operations and adding new production lines to Knauf\u2019s gypsum board factory in Suez.<\/p>\n

INVESTMENT WATCH-<\/p>\n

IFC to invest in Morocco\u2019s logistics infrastructure<\/strong>:<\/strong> The World Bank\u2019s development investment subbody, the International Finance Corporation (IFC), is plugging USD 37 mn into Morocco\u2019s leading logistics operator Building Logistics Services (BLS), according to a statement<\/a> released last week. The investment will support BLS\u2019s acquisition, construction, and expansion of an undisclosed number of warehouse facilities in several Moroccan cities. Following the investment, the IFC will own a minority share in BLS. <\/p>\n

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TRADE- <\/p>\n

Exxon + Qatar Energy given more years to build LNG plant:<\/strong> US federal regulators have extended ExxonMobil and Qatar Energy\u2019s LNG joint venture for three years to finish building their Golden Pass LNG, Reuters<\/a> reported on Friday, citing a document it has seen. The project is one of two large US LNG facilities whose launch was projected to significantly expand supplies from the US, which is the world\u2019s top exporter of the superchilled fuel, in the next 12 months. <\/p>\n

Why the extension? <\/strong>The extension was given due to delays when lead construction contractor Zachry Holdings filed for bankruptcy in March, saying that the project was at least USD 2.4 bn over the original budget. Golden Pass is yet to announce its new EPC contract, but has been in talks with engineering firm McDermott International. <\/p>\n

STORAGE + WAREHOUSES-<\/p>\n

OQ breaks ground on fuel storage project in Musandam:<\/strong> Oman\u2019s state oil company OQ has broken ground on a RO 78 mn (c. USD 202.6) fuel storage facility in Musandam governorate, according to a statement<\/a> released on Thursday. The facility \u2014 which will boast a 14k capacity \u2014 will serve as a strategic reserve for several types of fuel, including 91 and 95 gas (Mogas 91 and Mogas 95), LPG, and jet fuel.<\/p>\n

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CARGO- <\/p>\n

#1- <\/strong>Menzies rene<\/strong>ws contracts in Australia and New Zealand: <\/strong>Ground handling firm Menzies Aviation, a subsidiary of Kuwait\u2019s Agility, has renewed contracts at seven locations across Australia and New Zealand, according to a statement<\/a> on Thursday. The contracts include five-year extension of agreements with United Airlines at Sydney Airport, Melbourne Airport, and Brisbane Airport to provide cargo handling and warehousing services. Alliance airline also reappointed Menzies to deliver passenger and ramp services at Perth Airport and Darwin Airport, overseeing 6.2 k flights over the three-year contract. <\/p>\n

In New Zealand<\/strong>, Menzies will continue to manage around 2k turns per year for a three-year period at Auckland Airport and Christchurch Airport. Singaporean flag carrier Singapore Airlines has also extended an agreement for Menzies\u2019 passenger and ramp services. <\/p>\n

#2- <\/strong>Cargosto<\/strong>re + Haleys partner up on maritime logistics in Qatar:<\/strong> Container provider Cargostore Worldwide has partnered up with Haleys Group Middle East to expand their offshore Cargo Carrying Unit (CCU) rental business in Qatar, according to a statement<\/a>. <\/p>\n

OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n