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MENA Project Tracker: Arabian Centers to Open Two Retail Destinations; KOC considers bidding for $700m oil project

RIYADH: Arabian Centers, one of the largest contemporary lifestyle center operators in Saudi Arabia, will open two premier retail destinations in Riyadh and Jeddah, according to a report by Trade Arabia.

Work on the projects, Jawharat Al Riyadh and Jawharat Jeddah, is progressing steadily, and the company says these destinations will deliver a next-generation retail experience for customers.

The SR1.8 billion (480 million) commercial destination in Riyadh is expected to be operational by 2025, while the Jeddah project worth SR1.1 billion will start operating by 2024.

The Riyadh and Jeddah projects should generate 7,000 and 5,000 jobs respectively.

KOC will modernize four assembly centers

The Kuwait Oil Co., also known as KOC, is preparing to launch a tender for a $700 million project to decongest four collection centers in eastern Kuwait, MEED reported, citing industry sources.

According to the report, KOC aims to renovate the GC-1, GC-2, GC-11 and GC-19 assembly centers.

Budget approval for this project is expected to be finalized by October or November.

Acciona and Engie make an offer on Mirfa 2

Spain’s Acciona and France’s Engie placed the lowest bids for the development of the Mirfa 2 seawater reverse osmosis project in Abu Dhabi, Meed reported.

Acciona’s offer is $54.46 per cubic meter for an 80 million imperial gallons per day development, beating the Engie-led team by $1.7 c/cm.

Engie’s offer is $48.32 per cubic meter for a 120 MIGD plant.