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THE BIG PICTURE
01 UNITED STATES
03 UNITED KINGDOM
Bentley Systems acquires Power Line Systems in $700m deal Bentley Systems, the infrastructure engineering software company, has announced the completion of its acquisition of Power Line Systems — a leader in software for the design of overhead electric power transmission lines and their structures. The firm was acquired from private equity firm TA Associates for approximately $700 million in cash. Bentley Systems said that when it provided its full‑year 2022 financial outlook, they would reflect the inclusion of Power Line Systems in their figures.
02 UNITED STATES
Apollo to invest $1.4bn into Aldar Aldar Properties and Apollo Group Management have signed a landmark commitment that will see Apollo‑ managed funds and clients invest a total of $1.4 billion in strategic capital to drive the developer’s transformational growth initiatives. As part of the deal, Apollo will take a direct minority stake in Aldar Investment Properties at its Net Asset Value, highlighting the underlying strength of its asset base and Apollo’s conviction in the company’s growth strategy, management capabilities, and ability to capitalise on accretive opportunities that lie ahead.
Kent awarded engineering works contract for VNZ project in UK’s Humber region
Kent, the Dubai‑based integrated energy services provider, has announced that it has been awarded engineering work for the V Net Zero (VNZ) Project by Harbour Energy, the UK’s largest independent oil and gas company. The VNZ Project will materially support the delivery of the UK Government’s 10‑point Energy Transition Plan for 2030 and has the potential to exceed the Plan’s carbon capture goal on its own/single‑handedly.
04 AUSTRIA
06 EGYPT
Austria’s SAN Group to set up green biotech facility in RAKEZ
Schindler Group awarded Cairo Monorail contract
Austria based biotechnology firm SAN Group plans to set up a green biotechnology facility within the Ras Al Khaimah Economic Zone (RAKEZ). The company’s green hydrogen and farming subsidiary, SAN Enertech, will be constructing a fully integrated sustainable hydrogen production unit, plant, and fish farming on a land plot of 8,470sqm in RAKEZ Al Hamra Industrial Zone at an investment of $3.2m. It will consist of a research centre, laboratory, desalination plant, green house, as well as hydroponic and aquaponic indoor systems.
March 2022 | MEConstructionNews.com
05 REPUBLIC OF CONGO
DP World commences construction on new Banana Port in DR Congo DP World and the Democratic Republic of Congo (DRC) have laid the first stone to mark the start of construction of the new Banana Port. The stone laying follows the signing of a collaboration agreement in December 2021 between DP World and the DRC Government to develop the first deep water port in the country. The new port is being developed at Banana, along the country’s 37km coastline on the Atlantic Ocean in Kongo Central province.
Schindler Group has announced that it has been awarded a contract to deliver, install and maintain 136 elevators and 272 escalators for the Cairo Monorail Project. The landmark project will help to connect Egypt’s New Administrative City to East Cairo. The city will be Egypt’s first smart city, covering 700 square kilometres in the desert east of Cairo, making it the size of Singapore. Designed as the country’s new administrative hub, it is expected to house 6.5 million people. Its official opening is planned for the end of 2021.
