Saudi, Egyptian Housing Ministers Review Urban Projects

Egypt’s Minister of Housing, Utilities and Urban Communities Assem el-Gazzar during his tour in urban projects (Asharq Al-Awsat)
Egypt’s Minister of Housing, Utilities and Urban Communities Assem el-Gazzar during his tour in urban projects (Asharq Al-Awsat)
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Saudi, Egyptian Housing Ministers Review Urban Projects

Egypt’s Minister of Housing, Utilities and Urban Communities Assem el-Gazzar during his tour in urban projects (Asharq Al-Awsat)
Egypt’s Minister of Housing, Utilities and Urban Communities Assem el-Gazzar during his tour in urban projects (Asharq Al-Awsat)

Egypt’s Minister of Housing, Utilities, and Urban Communities, Assem el-Gazzar, visited Saudi Arabia and inspected major housing projects in Madinah.

A press statement issued by the Egyptian Ministry said that the Minister listened to a detailed explanation of the residential projects in the city and other housing projects that the company is undertaking in the Kingdom.

The Madinah Region Development Authority (MRDA) hosted the Egyptian Minister to review the projects implemented to develop the al-Masjid al-Nabawi.

Gazzar also visited the Makkah Islamic Museum.

Later, the Egyptian Minister met Saudi Minister of Municipal and Rural Affairs and Housing Majid al-Hogail, and Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for customer experience and service Prince Saud bin Talal bin Badr.

The meeting reviewed Cairo’s urban experience and the most important projects implemented in Egypt.

The statement explained that the officials also examined the ongoing housing projects in Jeddah and the overall housing strategy in Saudi Arabia.

They also visited two housing sites, several housing units of various designs, and the historic sites in Jeddah.

The Egyptian Minister was accompanied by Deputy Minister of Housing for National Projects Khaled Abbas, Assistant Minister and Supervisor of the Minister’s Office Major General Mohammad Essamedin Ramadan, and Assistant Minister of Housing for Technical Affairs Abdul Khaliq Ibrahim.

The Saudi delegation included General Supervisor of Housing Affairs Nedal Alem, Public Relations and Media Supervisor in Makkah Region Ahmed al-Koudari, and Bilateral Relations, International Relations Manager Mazen al-Saadi.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.