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THE BIG PICTURE
01 UNITED STATES
03 NETHERLANDS
Bvlgari Hotels and Resorts launches new property in Los Angeles
Mammoet’s new Focus 30 crane completes first project
Bvlgari Hotels and Resorts has signed an agreement to launch a new luxury resort in Los Angeles, with an opening scheduled for 2025, it has been announced. The agreement was signed with owner and developer Gary Safady, making Bvlgari Resort Los Angeles the second Bvlgari property in the US, with its Miami property scheduled to open in 2024, and the 12th in the Bvlgari Hotels and Resorts collection. Located in the Santa Monica mountains, The property will be surrounded by 33 acres of hillside park and natural wildlife, less than five miles from Rodeo Drive.
02 UNITED STATES
Ritchie Bros acquires SmartEquip for $175m Global equipment and vehicles auction powerhouse Ritchie Bros. Ahas announced it will acquire the US company SmartEquip, an online platform providing customers with real-time service and diagnostic support, for $175 million. Ritchie Bros. said it has entered into a definitive agreement with SmartEquip and the completion of the acquisition is subject to customary closing conditions, including, among other conditions, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Mammoet’s new Focus 30 crane has performed its inaugural lift, installing a vessel at the refinery in the UK in a top-and-tail operation executed Aalong with a 500t mobile crane. The global heavy lifting and transport services giant said the new Focus 30 is designed to deliver significant lifting capacity at complex sites and requires no laydown area during assembly of its boom as it is erected vertically in sections. This enables the Focus 30 to be built away from the lift-site and requires the disruption or closure of less infrastructure during its use.
04 EGYPT
06 KUWAIT
KSA and Egypt sign $1.8bn worth contracts for interconnected power grids
Tamdeen Group launches Middle East’s largest indoor multistorey go-karting track
Saudi Arabia and Egypt have signed contracts with three consortiums of international and local companies to connect the two nations power grids in a project worth a total of $1.8 billion. The electric grid interconnection project aims to exchange electrical capacities amounting to 3,000 MW with a 500kV HVDC technology. It consists of the construction of three highvoltage substations linked by overhead transmission lines and marine cables in the Gulf of Aqaba with a length of 22 km.
November 2021 | MEConstructionNews.com
05 IRAQ
Masdar to develop 1GW worth of solar projects in Iraq Masdar has announced that it has signed a strategic agreement with the Republic of Iraq to develop five solar photovoltaic (PV) projects in the country, with a combined capacity of 1 gigawatt (GW). The agreement with Iraq’s Ministry of Electricity and the National Investment Commission will see the development of the following projects: a 450-megwatt (MW) plant in the Dhi Qar Governate; 100 MW and 250 MW plants located in Ramadi; a 100 MW plant in Mosul; and a 100 MW plant in Amarah.
Tamdeen Group, the Kuwaiti mixeduse property developer, has announced the opening of the largest indoor multi-storey go-karting track in the Middle East at Al Kout Mall, its flagship retail destination in Kuwait City. A two-level rooftop location spread across 5,380sqm, Q8 Karting will be located on the 10th floor of Al Kout Mall, with a dedicated entrance from a shop inside the mall. It will also be accessible through different elevators from all levels of the indoor parking area.
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