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GE, Abu Dhabi firm in $8 billion joint venture - 0 views

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    BOSTON (Reuters) - U.S. conglomerate General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) and Abu Dhabi investment agency Mubadala Development Co said on Tuesday they have entered into an $8 billion joint venture with an initial focus on providing commercial finance in the Middle East and Africa.The two companies also plan to work together in the clean energy and water, aviation, and oil and gas sectors, they said."This partnership is consistent with our global growth initiatives and builds on our long-term relationships in a high-growth region like the Middle East," said Jeff Immelt, chief executive of GE, the second-largest U.S. company by market value.The companies said Mubadala "plans over time" to become one of the Fairfield, Connecticut-based company's ten largest shareholders, by acquiring shares in the open market.They also aim to establish a clean energy technology center in Masdar City, a new city in Abu Dhabi that aims to be carbon neutral. GE plans to commit up to $50 million for Masdar's second clean-tech fund.Growth in the Middle East has been a major thrust for GE in recent years. Last year the company generated $5 billion in revenue in the region, up 50 percent from the prior year.
Panos Kotseras

UAE - Copper tube mill project - 0 views

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    It was reported that Abu Dhabi Basic Industries Corporation is planning to build a US$50mln copper tube project at Abu Dhabi's proposed metals park at Taweelah. The company has invited potential contractors to bid by the end of September. It is expected that the project will take 18 months to complete whilst capacity will amount to 30,000-40,000 tonnes of copper tube per annum. The plant aims to meet demand for copper commercial and plumbing tube in the Middle East and North Africa regions which currently rely on imports.
Panos Kotseras

UAE - High voltage cable project announced by major utilities - 0 views

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    Abu Dhabi Water and Electricity Authority (ADWEA) and Dubai Electricity and Water Authority (DEWA) announced that they will set up a joint venture to produce high voltage cables. The plant will be located in Jebel Ali and will be operational next year. Annual output will be 30,000 tonnes of high voltage cable, supplying the local market and GCC countries. The investment will amount to Dh500 million (US$136 million) and is expected to break even in the third year of the project.
Glycon Garcia

World of Renewables - Renewable Energy News, Events, Companies, Products, Jobs and more... - 0 views

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    Wind energy's 32% growth rate in 2009 as an example of "the impressive growth rate of renewables" The total global potential for renewable energy "is substantially higher than both current and future projected global energy demand" is the message of the Special Report on Renewable Energy Sources and Climate Change Mitigation released by the UN Intergovernmental Panel on Climate Change (IPCC) today in Abu Dhabi.
James Wright

Dubai, United Arab Emirates - Dubai Cable Company optimistic on demand outlook - 0 views

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    Dubai Cable Co. (Ducab), the joint Dubai and Abu Dhabi state owned wire and cable producer, is optimistic about short to long term wire and cable demand prospects. This is primarily due to heavy investment in infrastructure by Gulf governments, including plans to build a six-nation power grid. The company also sources its optimism from predictions of a wire and cable supply deficit in India.
James Wright

Dubai - Ducab-HV opens new high voltage energy cable plant in Jabel Ali, Dubai - 0 views

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    Ducab-HV, a joint venture between the Dubai and Abu Dhabi governments, has opened a new factory in Jabel Ali, Dubai for the production of single core copper/aluminium conductor power cables with a voltage range of 66kV to 400kV. The plant will increase Ducab's production capacity by 15,000 tonnes of conductor per annum. The company estimates that production will meet the full infrastructural development demands of the UAE. In addition, production is expected to be sufficient to allocate 75% of total output for supplying the GCC, European and African export markets.
Colin Bennett

Ducab Aluminium sets up AED 220 million manufacturing facility in Khalifa Industrial Zone - 0 views

  • It will focus on the production of aluminium rods and conductors for overhead transmission lines, and will supply mainly the cable manufacturing industry and utility sectors.
Colin Bennett

Dubai Cable Building First Aluminum Plant as Copper Losing - 0 views

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    "Copper is losing about 2 percent a year of demand to less costly materials such as aluminum, or about 500,000 tons, London-based researcher CRU estimates. Aluminum is a third the cost of copper and supplies of aluminum in warehouses monitored by the London Metal Exchange are almost 12 times higher."
Sergio Ferreira

Abu Dhabi's solar venture - 0 views

  • . Masdar, the oil-rich emirate’s $15 billion renewable energy venture, and Spanish technology company Sener on Wednesday announced a joint venture called Torresol Energy to build large-scale solar power plants in Australia, Europe, the Middle East, North Africa and the United States.
  • The irony is too rich to leave unsaid: A leading oil producer invests billions in carbon-free energy while a leading consumer of fossil fuels - the United States - continues to subsidize Big Oil while while offering only tepid support for green technology
  • Torresol plans to build solar power plants using a technology it calls a Central Tower Receiver system. It’s similar to technology used by competitors like BrightSource in that fields of mirrors called heliostats focus the sun’s rays on tower that contains a receiver. In this case the receiver is filled with salt which when heated vaporizes water to create steam that drives an electricity-generating turbine. The company says it intends to have 500 megawatts of solar electricity online by 2012.
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