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STORAGE + WAREHOUSES-
Haier secures land in Yanmu: Haier will lease 11k square meters for a warehouse at Yanmu East Logistics Park – a JV between our friends at Hassan Allam Utilities and Kuwait’s Agility Logistics Park, according to a statement. The project is set to strengthen Haeir’s supply chain efficiency by using Yanmu’s easy access to key markets and transportation routes.
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ICYMI- Hassan Allam and Agility formed a JV dubbed Yanmu in March 2023 to set up and operate two logistics parks in Egypt, Yanmu East and Yanmu West. Yanmu Logistics Park inked an agreement with Egypt’s Commercial International Bank in September 2023 for a EGP 1.5 bn (USD 48.5 mn) loan to finance the construction of Yanmu East Logistics Park.
RAIL-
Egyptian bank consortium to support national railway manufacturing initiative: Egypt’s National Railway Industries Company (NERIC) has inked a joint financing contract with the National Bank of Egypt, the Arab African International Bank (AAIB) and the Commercial International Bank (CIB) to support a local initiative to boost railway manufacturing, according to a statement released on Thursday. No investment ticket or timeline for the agreement have been disclosed.
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Details: The funding will go towards supporting the ongoing development of the 300k sqm NERIC rolling stock production plant in Egypt’s East Port Said Industrial Zone, which aims to support the country’s goal of localizing various industries. NERIC plans to open the factory in 2025, with phase one of the project forecasted to cost an estimated EGP 4.2 bn, project general manager Ahmed Mufti said in a statement.
CARGO-
Qatar Airways Cargo launches e-booking Portal: Qatar Airways Cargo launched an interline online booking portal feature through its new Digital Lounge Portal, according to a statement published on Thursday. The digital portal — which provides real-time access to booking information — aims to strengthen digitalization in the cargo industry by offering key features, including tracking, tracing, and uploading multiple dimensions for shipments.
SHIPPING + MARITIME-
#1- Qatar to digitalize its shipyards: Qatar Shipyard Technology Solutions has inked an MoU with the Qatar Research, Development, and Innovation (QRDI) Council to drive forward digitalization, asset maintenance, and operations in the maritime sector, according to a statement released last week. Under the MoU, the pair will explore the integration of AI-driven technology and work to develop custom-built solutions to advance shipyard operations and maritime technology.
Details: The pair aim to digitalize shipyard management and planning as well as integrate digital asset and predictive maintenance technology to oversee over 20k shipyard assets. They will also work to automate the cutting and beveling of structural repairs through an AI-enabled 3D cutting and beveling machine. The agreement will also introduce an inspection and machining custom-built pipe repair robot.
#2- ONE updates IMS service: Japanese shipping and container company Ocean Network Express (ONE) has updated its Iberia Morocco Service (IMS) — which connects ports in the Mediterranean and North Africa — expanding port coverage and increasing visits to twice a week to transit ports at Algeciras, Valencia, and Tangier, according to a statement published last week. The network is set to commence operations on 19 December.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Alex Jet + Falcon Aviation to obtain AOC: UAE’s private plane charter service Alex Jet and charter flight operator Falcon Aviation submitted a letter of intent to the General Civil Aviation Authority to obtain an Air Operator Certificate. (Wam)
- Lesha Bank acquires more Boeing aircrafts: Qatari investment bank Lesha Bank acquired five Boeing 777-300ER aircrafts to be leased to an unnamed airline, as part of the bank’s expansions in the industry and its plans for Sharia-compliant investment opportunities in the aviation sector. (Statement)
- Air Arabia restarts flights to Lebanon: The UAE’s budget-airline Air Arabia is relaunching direct flights between Sharjah International Airport and Beirut-Rafic Hariri International Airport effective 18 December. (Wam)
- Qatar Airways expands Canada route: Qatar Airways has launched the first of three weekly direct flights from Hamad International Airport to Toronto Pearson International Airport. (Statement)
- Dubai Chambers expands to South America: Dubai International Chambers has opened a new representative office in Colombia’s capital of Bogotá. (Dubai Media Office)
- Air Arabia launches new UAE-Uzbekistan route: UAE’s Air Arabia is launching a new route with one weekly flight every Friday from Ras Al Khaimah to Uzbekistan’s Tashkent, starting 27 December 2024. (Statement)
- Jordan + Qatar ink maritime agreement: Jordan inked an agreement with Qatar to bolster maritime cooperation and expand knowledge sharing. (Petra)
- GCC + Japan in CEPA talks: The Gulf Cooperation Council (GCC) and Japan concluded the first round of their comprehensive economic partnership agreement talks on Thursday. (Spa)
- KNPC issues bids for Shuaiba Port facility: The Kuwait National Petroleum Company (KNPC) has issued bids for the development of a new southern arm facility at the Shuaiba Port’s oil berth, with a deadline on 2 March 2024. (Zawya)
