Commodities Update — Gold rises; Wheat falls; London copper prices fall on hawkish Fed views

MENA Project Tracker — Korean consortium to work on Oman’s smart farm; Khor Mor Field suspended

A Korean smart farm consortium has partnered with the Omani government on a smart farm project.

The consortium will handle operational matters for the first three months, Zawya reported. 

Iraq’s Khor Mor field on pause

The KM250 expansion project at the Khor Mor field in Iraq’s Kurdistan continues to be suspended following a series of rocket attacks, the last of which hit the site on July 25, reported MEED.

Although the project is currently on hold, Dana gas— one of the companies involved in the project— is working to have the first phase of the project completed by April or May 2023.

Saudi Aramco invites bids 

Saudi Aramco has started inviting bids to develop housing complexes at Haradh and Wudayhi in Eastern Province on the basis of public-private partnership.

The project was originally awarded to Saudi-based Al-Rajhi Development Co. and India’s Shapoorji Pallonji, but increased input prices and renegotiations between the two terminated the deal, reported MEED.  

The contract includes the construction of 11 residential buildings, two mosques, and a healthcare institute.

In addition, the project comprises the construction of a sewerage system and chiller plants.

WTE project

The Public Investment Fund-owned ACWA Power, Beeah, Besix and other companies have submitted expressions of interest to develop Abu Dhabi’s first waste-to-energy project.

The scope of work includes the financing, construction, operation, and maintenance of the WTE project, according to MEED.

Located near Al-Dhafra landfill, the project will supply electricity to 52,500 households.