RIYADH: Abu Dhabi National Oil Co. is rumored to be acquiring part or all of $4 billion commodity trading company Gunvor Group, according to Bloomberg.
Details of the agreement remain unclear, as both companies have not yet confirmed the partial or full acquisition.
The UAE-based oil company has become one of the largest in the country, where it recently tendered a project to increase its ethane production, according to MEED.
ADNOC gas processing — a subsidiary of ADNOC — has received expressions of interest from many contractors on the engineering, procurement and construction works on the ‘Meraam’ project, which aims to expand ethane recovery and maximize its profits.
SWPC to tender ISTP projects
Saudi Water Partnership Co. is to issue by October the request for proposals for its third batch of independent sewage treatment plant projects, according to MEED.
SWPC will be splitting the projects into two contracts — one for the Al-Haer ISTP project in Riyadh, and the other for the construction of both the Riyadh East and Khamis Mushait ISTP scheme.
The company has already pre-qualified companies to bid on the two contracts.
EWEC qualifies 19 companies for solar PV
Abu Dhabi's Emirates Water & Electricity Co. has qualified 19 companies to bid for the contract to develop the next solar photovoltaic independent power project in Abu Dhabi, reported MEED.
Companies have submitted their statement of qualifications for the contract in July.
Once complete, the Al-Ajban solar IPP will have the capacity to generate 1,500 megawatts of electricity — enough to power 160,000 homes across the UAE, in addition to reducing Abu Dhabi’s carbon dioxide emissions by more than 2.4 million metric tonnes yearly.
