Tag Archives: project

PM Imran Khan will launch the Radius Al-Beruni tourism project in Jhelum today | Instant News


Prime Minister Imran Khan will launch Al-Beruni Radius, a tourism project in Jhelum. Photo source: PMO

ISLAMABAD: Aiming at reviving Pakistan’s heritage, Prime Minister Imran Khan will launch Al-Beruni Radius, a tourism project in Jhelum today.

The historic Nandana Fort is located at Tehsil Pind Dadan Khan in the Jhelum district.

According to the PM’s office, the prime minister is interested in preserving and conserving the site, aiming to turn it into an international tourism site.

The archaeological significance of this site dates back to the 11th century when the famous scholar Abu Rehan Al-Beruni during his stay calculated the circumference of the Earth.

Al-Beruni later wrote a famous book about the area and called Nandana a great center of learning.

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Total Asia-Pacific oil and gas M&A deals amounted to US $ 7.68 billion in 4Q20 | Instant News


A total of US $ 7.68 billion in cross-border oil and gas industry M&A deals announced in Asia-Pacific 4Q20, led by the US $ 6.24 billion acquisition of China Oil & Gas Pipeline Network, according to the GlobalData deals database.

This value decreased by 48.1% compared to the previous quarter and decreased by 9% when compared to the last quarter’s average of US $ 8.44 billion.

Asia-Pacific has a 37.59% share of the value of the global oil & gas industry cross-border M&A agreement which reached US $ 20.43 billion in 4Q20. With a 30.64% stake and a $ 6.26 billion deal, China is the top country in the value of an Asia-Pacific cross-border M&A deal in the oil and gas industry.

In terms of deal activity, Asia-Pacific recorded 53 cross-border transactions during 4Q20, marking an 18.46% decline over the previous quarter and an 8.62% drop over the average of the past four quarters. The Marshall Islands recorded 17 deals during the quarter.

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The top five cross-border M&A deals for the oil and gas industry accounted for 90.2% of the overall value during 4Q20.

The combined value of the top five cross-border M&A deals was US $ 6.92 billion, compared with the US $ 7.68 billion overall value recorded for the quarter.

The top five cross-border transactions in the oil and gas industry in Q4 2020 tracked by GlobalData are:

  • China Oil & Gas Pipeline Network acquired PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG for US $ 6.24 billion.
  • Acquisition of Philippine Tank Storage International (Holdings) worth US $ 333.8 million by Keppel Infrastructure Trust and Metro Pacific Investments.
  • ADNOC Logistics & Services US $ 168.4 million asset transaction with Hunter Group.
  • Asset transaction of US $ 110 million with Ionic Shipping (MGT) by General National Maritime Transport.
  • Delta Tankers asset transaction with TRF Ship Management worth US $ 71 million.

For more news and technical articles from the oil and gas pipeline industry, read the latest issue of World Pipelines magazine.

World Pipelines Issues February 2021

The February 2021 issue of World Pipelines includes: report on the Australasian pipeline network; an interesting look at the need to protect pipeline information from the Freedom of Information Act (US); analysis of Ukraine’s place in the global gas sector; and technical articles on subsea repairs, coatings, ILI and SCADA systems.

Read the online article at: https://www.worldpipelines.com/contracts-and-tenders/24022021/asia-pacific-oil-and-gas-ma-deals-total-us768-billion-in-4q20/

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Reon completes a solar power project | Instant News


KARACHI: Reon Energy Limited announces the completion of a 3.73MW solar power project for the G&T Group in Karachi and Balochistan. The solar photovoltaic plant is the largest bifacial PV rooftop in the country, said a statement on Monday.

The 3.73MW photovoltaic project is expected to generate around 6,152MWh annually, he added. The project is spread across four locations, including Gatron at the Hub, Mustaqim Dyeing and Printing at SITE, and Nooriabad and Novatex in Landhi.

The energy output will be used on site, reducing gas consumption and avoiding about 3,780 tonnes of CO2 equivalent emissions over the life of the plant, he said. The bifacial solar module implemented at G&T, which can absorb sunlight from both the face, front and rear, has significantly increased energy production by up to 10 percent.

The project ensures strict compliance with the COVID-19 protocol during execution. A total of 80 jobs were created for local residents during the executions, he added.

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Asad Umer directs the railway ministry to conduct a monthly KCR survey | Instant News


KARACHI: Federal Planning Minister Asad Umar chaired a council session on Tuesday to discuss the Karachi Circular Railway (KCR) and Railway Freight Corridor (RFC) projects, where progress reports on these are discussed, ARY News reported.

Asad Umar was briefed on the current processing status of the two Karachi-based projects and was told they were running according to their schedule.

The federal minister assigns the ministry and railway authorities to conduct monthly surveys on the progress of these projects and has advised them to take advantage of all available options to speed up their completion.

He said the government was determined about the success of the KCR project, said planning minister Umar.

READ: The Sukkur SHC bench looks for a list of people affected by the anti-encroachment movement

Separately today, Sindh High Court judges summoned a list of people affected by anti-encroachment. operation on the land of the irrigation service in Sukkur.

The Sindh irrigation department submitted a report on the release of 800 million rupees for the resettlement of affected people.

The high court consisting of Judge Aftab Ahmed Gorar ordered the Sindh government to spend more funds on the rehabilitation of people affected in anti-encroachment operations.

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Contact Energy followed by the Tauhara geothermal project, NZ | Instant News



Plans for installing a geothermal power plant in Tauhara, NZ (source: Contact Energy)

New Zealand-based energy company Contact Energy will continue construction of the 150 MW Tauhara geothermal power project with construction set to begin.

As part of the release of interim financial results for the six months to 31 December 2020, New Zealand-based energy company Contact Energy announced it would continue the Tauhara geothermal project.

The Contact Board confirmed that the company will continue development of a new NZ $ 580 million (approximately USD 418 million) geothermal power plant at the Tauhara field, near Taupo.

In June 2020, the company has signed EPC contracts with Sumitomo and Fuji Electric for the construction of the plant, but with the attractive closure of the important aluminum smelter in New Zealand, things had become somewhat unclear until recently. With a planned power generation capacity of 150 MW, this will be a significant boost to New Zealand’s geothermal sector and the role it plays in the country’s total energy mix. Japanese engineering, procurement and construction contractor Sumitomo Corporation is leading the way, working with New Zealand construction companies Naylor Love and Fuji Electric as turbine suppliers.

Chairman Contact Rob McDonald said: “We are delighted that current market conditions allow us to continue this important development for New Zealand – which has been in the planning stages for more than a decade.

“We believe the Tauhara geothermal project is New Zealand’s best low-carbon renewable electricity opportunity. It will operate 24/7, is weather independent and is ideal to replace base-load fossil fuel generation from a national grid that would significantly reduce New Zealand’s carbon emissions. “

Construction will begin soon and is expected to be completed by mid-2023. Japanese construction, procurement and engineering contractor Sumitomo Corporation is leading the construction, working with New Zealand construction firms Naylor Love and Fuji Electric.

Mr Fuge said the investment in Tauhara was a significant commitment in line with Contact’s vision to build a better New Zealand. “It’s great to be able to move into the growth and development phase. We have an amazing team from inside and outside of Contact who will ensure the building of a world-class power plant that everyone can be proud of.

“Continuing Tauhara is also the next chapter in our longstanding commitment to the central part of the North Island and is expected to make an important contribution to the post-COVID19 economic recovery in the region.”

Beyond these economic benefits, Fuge said development would support New Zealand’s transition to a low-carbon economy.

“Tauhara will provide a foundation to support New Zealand’s increasing demand for electricity over the next decade. Geothermal is one of Aotearoa’s unsung heroes, but it is playing an important role in our generation’s mix and the transition away from fossil fuels. “

The main details about the planned plant:

  • The planned power generation capacity is 152 MW with an annual generator of 1,300 GWh
  • Turbines from Fuji Electric with single shaft steam turbines
  • Planned completion date: mid-2023

Earthworks have started with leveling of the site, and construction is expected to begin soon. Approximately 800,000 cubic meters of soil will be required to level the site, create a storage pool and to create a visual embankment planted with native trees in front of the station via Broadlands Road.

There will be about 500 people working at the power plant at the peak of construction.

At the same time, the company announced it would seek NZ $ 400 million in equity increases, with the proceeds to “reduce net debt and provide financial flexibility to fund the Tauhara Project and other future growth projects.”

Mr McDonald said the equity increase would give Contact the flexibility to execute on a development pipeline outside Tauhara, which comprises up to $ 800 million in additional projects including potential replacement and expansion of the company’s geothermal power plant at Wairakei. “This means that the Contact can maintain optionality with respect to future investment decisions, which will be scalable and timed to meet market demand.”

Source: Company releases via email

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