RIYADH: Work on the UAE’s Barakah Nuclear Plant is almost complete. In addition, Saudi Arabia’s Mohammed bin Salman Foundation has appointed Australia’s Conrad Gargett for its headquarters project. Also, UAE’s Masdar and Egypt’s Infinity Energy are on track to acquire a majority stake in Lekela Power. Meanwhile, the Kuwait Oil Co is in talks with the Central Agency for Public Tenders to restart the second phase of price negotiations for a large contract that has already been delayed multiple times.
· Emirates Nuclear Energy Corporation has announced that the work on the Barakah Nuclear Energy Plant, which is being established in collaboration with Korea Electric Power Corporation, is 97 percent complete, Trade Arabia reported. This comes as the first two units are already operational and generate electricity daily. On the other hand, the third phase is set to become operational in the near future.
· The Mohammed bin Salman Foundation, also known as Misk, has awarded Australian architectural practice Conrad Gargett for the Foundation Headquarters in Saudi Arabia, Trade Arabia reported. The scope of work will include the construction of 500 villas and townhouses and 6,000 apartments catering to an estimated 18,000 potential residents.
· UAE-government owned renewable energy company Masdar and Egyptian renewable energy provider Infinity Energy are collaborating to acquire a majority stake in renewable power generation firm Lekela Power worth an estimated $1 billion from UK-based global investment firm Actis, MEED reported. Lekela’s portfolio comprises more than 1,000 MW of wind assets dispersed across South Africa, Egypt, and Senegal in addition to a 225 MW wind development in Ghana. Sealing the deal would pose Masdar’s first foothold in southern Africa.
· The Kuwait Oil Co., or KOC, has requested to restart the second phase of price negotiations for a large project management consultancy contract from the Central Agency for Public Tenders, MEED reported. KOC had originally accepted bids from the UK’s Wood Group, Australia’s Worley, and America’s KBR.
