UTILITIES-

Amea-backed Cox signs EUR 250 mn transaction for Morocco desalination and wind farm project: Amea Power-backed Spanish energy and water utility company Cox signed a EUR 250 mn agreement with Moroccan authorities to expand the country’s Agadir desalination plant, according to a press release. It’s not clear whether Amea Power — which holds a 3.76% stake in Cox — is directly involved, but it said last December that it was lining up plans to invest at least USD 100 mn in a desalination project in Morocco through Cox. The two also formed a JV in May to co-develop and manage water and energy infrastructure projects across the Middle East, Africa, and Asia.

The details: The project will increase capacity by 125k cubic meters per day, bringing total output to 400k cubic meters daily by 2027. The expansion will provide 2 mn people with drinking water and irrigation for 13.6k hectares of agricultural land in the water-scarce region. As part of the project, Cox will construct a 150 MW wind farm, set to be operational in 2027, to power the desalination operations.

ENERGY-

Dubai Municipality has signed an MoU with Dubal Holding’s subsidiary BiOD Technology to convert used cooking oils (UCO) and fats into biodiesel, according to a statement. The agreement allows BiOD to collect waste UCO, fats, oils, and grease across the emirate and process them into B100 biodiesel, a cleaner-burning fuel. The initiative aims to reduce pollution in sewer systems and cut the cost of wastewater treatment.

What is B100? Biodiesel B100 is pure biodiesel made from vegetable oils, recycled cooking oil, or animal fats. It’s produced through transesterification, a chemical process that removes glycerin to create fatty acid methyl esters, which can be used in existing diesel engines as a renewable fuel.

Not the Emirates’ first: IFFCO Group’s Noor Oil and Bee’ah launched a recycling campaign to recycle cooking oil into biodiesel last year. Emarat Petroleum and Lootah Biofuels also signed an MoU to conduct feasibility studies to look into a collection system through Emarat’s retail stations to convert used cooking oil into biofuels and introduce Lootah’s Biodiesel B5 at Emarat stations.

DEBT-

#1- Emirates NBD is providing Indian jewelry retailer Joyalukkas with a AED 500 mn working capital facility to support its expansion plans, according to a press release. The financing will support the company’s plans to expand in markets including the UK, US, Canada, and Australia. The revolving facility allows Joyalukkas flexible access to funds for inventory financing and operational liquidity.

#2- DIB strikes Islamic finance agreement with Turkish carrier: Dubai Islamic Bank (DIB) has signed a 12-year Islamic finance lease agreement with national carrier Turkish Airlines to finance its purchase of a new Airbus A350-941, according to a press release. This marks the first shariah-compliant finance agreement signed by Turkish Airlines and also DIB’s first in the aviation industry.

TECH-

Yango opens another office in Côte d’Ivoire: Dubai-based tech firm Yango Group opened a new office in Abidjan, Côte d’Ivoire, which will serve as a continental HQ to coordinate the company’s growing Africa operations, according to a press release. Yango’s existing Côte d’Ivoire office, which opened in 2018, was its first overseas office. It was followed by an expansion into 16 other African countries.

CRYPTO-

Rakbank offers crypto exchange: The National Bank of Ras Al Khaimah’s (Rakbank) mobile app is now offering Bitpanda’s crypto trading platform to retail customers, making it the first traditional UAE bank to do so, according to a press release. The app will enable access to Austrian digital asset trader Bitpanda’s crypto trading platform, allowing investors to buy, sell, and swap AED-denominated cryptocurrencies. The service will initially be invitation-only with plans to roll out access in the coming months.

CONSTRUCTION–

Developer Expo City Dubai has tapped landscaping firm Proscape to develop the Expo Valley nature reserve, according to Dubai Media Office. Expo Valley, a gated community slated for a 2026 launch, will include a 10-hectare green reserve completed by 1.2k trees, a lake, and a wadi.

AVIATION-

Etihad receives first of 30 Airbus orders: Etihad Airways ’ first Airbus A321LRs will enter commercial service on 1 August, initially flying between Abu Dhabi and Thailand’s Phuket before expanding to other destinations including Bangkok, Chiang Mai, Copenhagen, Milan, Paris, and Zurich, according to a press release. The aircraft, which arrived at Abu Dhabi International Airport on Friday, is part of a broader fleet expansion strategy that will see nine more A321LRs delivered this year. In total, the airline will add 30 of the aircraft to its fleet.

REMEMBER- At the start of the year, the airline had said it was planning to acquire up to 40 widebody aircraft as part of its five-year plan to double its fleet.

LOGISTICS-

AD Ports Group’s Noatum Maritime opened its first Shanghai office for maritime services — another step in its China expansion, after it opened its first international office in Beijing last week, according to a press release. The new facility will provide shipping agency and maritime logistics services to vessel operators and cargo owners. It will target the firm’s growing client base in the region, with Shanghai being a key location in its global supply chain, the firm’s maritime and shipping cluster CEO Ammar Al Shaiba said.

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