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Renewable energy firm Arevon Energy has chosen Bechtel to oversee the design and construction of a new 190MW solar project in Posey County, Indiana, in the United States. The energy produced by the facility will be distributed by CenterPoint Energy, and is expected to power over 25,000 homes in Indiana, and 150,000 customers in Southwest Indiana.
Bechtel will be in charge of overseeing and completing the entire solar project, which includes engineering, procurement, construction, commissioning, and project management. Throughout the construction phase, Bechtel will hire over 300 workers from the surrounding area, such as electricians, operators, safety professionals, solar installers, and general laborers. They will also provide on-the-job training programs for local residents, a report stated.
“We are thrilled to work with both Arevon and CenterPoint Energy to deliver a transformational renewable energy project to the people of Indiana,” said Scott Austin, Bechtel’s General Manager of Renewables & Clean Power.
Bechtel said it will also collaborate with the regional supply chain in Indiana and the nearby states during the project’s execution.
“We are delighted to be working with Bechtel, whose history of power plant construction and global reach are unparalleled. Bechtel offered a high-quality, competitive solution, and we saw intrinsic value in their in-house engineering capability, self-perform delivery approach, and innovative mindset to help us deliver this important project to CenterPoint Energy,” concluded Justin Johnson, Arevon’s Chief Operating Officer.
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The SNC-Lavalin Group has announced a major rebrand that brings SNC-Lavalin, Atkins, Faithful+Gould, DTS and Atkins Acuity under a single brand, AtkinsRéalis. Making the announcement, the Montréal, Canada headquartered firm noted that the move represents a ‘major milestone’ in its transformation journey.
The name AtkinsRéalis is a coined term that combines Atkins, a legacy brand that is well-established across the company’s international markets, and ‘Réalis’, inspired by the city of Montréal and the company’s French-Canadian roots. Réalis also resembles the verb ‘to realise or ‘to make happen’ which emphasises our focus on outcomes and project delivery, the firm said in a statement.
“AtkinsRéalis is a new name for a new transformed company: our ability to draw upon such breadth and depth of global capabilities will maximise our ability to work seamlessly and provide one integrated offering for our clients and partners. Everything starts with our people; they care about each other, this company and most importantly, they care about the work we do and believe in our purpose to engineer a better future for our planet and its people. I could not be prouder of our team’s dedication to the success of this Company”, said Ian L. Edwards, President and CEO of AtkinsRéalis.
The single brand entity encompasses the expertise of 36,000 employees across the globe to deliver end-to-end solutions in the built and natural environments, the firm stated.
“In recent years, we have deliberately repositioned the company. We exited those parts of the business that were not profitable or aligned with our strategy; corrected underlying issues affecting our performance; doubled down on high-growth global markets; embraced digital transformation; and most importantly, redefined our purpose and strengthened our culture. We have reached an inflection point, so now is the right time to rebrand to AtkinsRéalis and reflect the exciting future ahead of us,” added Edwards.
As of September 13, the company’s new brand and associated visual identity will be used on all communications materials. The company’s common shares will begin trading on the TSX under the new ticker symbol (TSX: ATRL) prior to market open on September 18, 2023. SNC-Lavalin Group Inc. will not change its legal name until the company obtains shareholder approval, as required by law, at its 2024 Annual Meeting of Shareholders, the statement concluded.
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The UAE will ban heavy vehicles weighing over 65 tonnes from plying on its roads, effective from the beginning of next year, 2024.
In a significant move aimed at preserving the country’s advanced infrastructure and bolstering road safety the announcement comes as part of a federal law regulating vehicle weights approved by the UAE Cabinet.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, expressed the rationale behind this pivotal decision. He emphasized that the primary objective of the ban is to protect and maintain the UAE’s state-of-the-art road infrastructure while enhancing overall road safety for residents and visitors alike.
One of the key features accompanying this regulatory change is the implementation of a sophisticated smart electronic gate system.
This system will be responsible for measuring and continuously monitoring the weights and dimensions of heavy vehicles passing through designated checkpoints. It is expected to ensure strict compliance with the new weight restrictions and swiftly identify any violations.
The ban on heavy vehicles weighing over 65 tonnes reflects the UAE government’s commitment to sustainable infrastructure and efficient transportation systems. By reducing the strain on the country’s roads caused by exceptionally heavy vehicles, the authorities aim to extend the lifespan of the road network and minimize maintenance costs.
Moreover, this move aligns with global efforts to enhance road safety standards and environmental sustainability within the transport sector. It is expected to contribute to reducing accidents, traffic congestion, and emissions on UAE roads, fostering a safer and more eco-friendly transportation environment.
In light of the upcoming ban, stakeholders within the heavy vehicle industry, including transport companies and truck operators, are encouraged to assess their fleets and operations to ensure compliance with the new regulations. This proactive approach will help facilitate a smooth transition to the updated legislation and contribute to the overall success of the initiative.
The introduction of the smart electronic gate system represents a technologically advanced and efficient means of enforcing the weight restrictions. Its implementation demonstrates the UAE’s commitment to harnessing cutting-edge technology to enhance road safety and infrastructure management.
As the ban on heavy vehicles weighing over 65 tonnes is set to come into effect in 2024, the UAE is taking a significant stride towards achieving safer, more sustainable, and better-maintained roadways for the benefit of all road users.
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Dubai Electricity and Water Authority (DEWA) has announced that more than 70% of the work has been completed on its pumped-storage hydroelectric power plant in the Hatta region – and it is fully on-track for completion in Q1 2025.
Once operational, it will have a production capacity of 250 megawatts (MW), a storage capacity of 1,500 megawatt-hours, and a life span of up to 80 years.
In terms of the science behind the project, the hydroelectric power plant works via energy storage with a turnaround efficiency of 78.9%, using the potential energy of the water stored in the upper dam. This is converted to kinetic energy during the flow of water through a 1.2-km subterranean tunnel. This kinetic energy rotates the turbine and converts mechanical energy to electrical energy sent to the DEWA grid.
This is the first station in the GCC region, with investments of up to AED1.42 bn, said DEWA Managing Director and CEO, Saeed Mohammed Al Tayer.
He was speaking after an inspection tour of the plant site in Hatta, where he witnessed the assembly of generators and the ongoing construction of service and operational facilities.
The visit also included an examination of the upper dam, where the water intake structure and the associated bridge have now been successfully completed.
Also, the construction of the 72-metre main Roller Compacted Concrete wall of the upper dam has been completed, and preliminary measures are now in place to commence filling the upper dam by the end of the year.
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Eagle Hills Diyar (EHD), the developer behind the Marassi Al Bahrain project, has announced the completion of Marassi Park, a luxury project comprising 249 residential units, two months ahead of schedule.
Marassi Park is the fifth major project to have been delivered as part of Marassi Al Bahrain’s framework; it benefits from being in close proximity to Marassi Beach as well as Marassi Galleria, a premium retail destination.
Residents of the development have the added convenience of being adjacent to both the Grand Boulevard and Marassi Heart, a modern, verdant park which provides an oasis of calm in the heart of Bahrain’s new downtown.
On the completion of Marassi Park, Dr Maher Al Shaer, the Managing Director of Eagle Hills Diyar, said: “We are very pleased that Marassi Park is being handed over ahead of schedule. This cutting-edge development is a significant addition to the Marassi Al Bahrain district which has redefined beachfront living. As seen in Marassi Park and our other developments, Eagle Hills Diyar is creating integrated living spaces where communities can take pleasure in the scenic atmosphere of a luxury resort, while also enjoying easy access to nearby urban centres.”
Meanwhile, Engineer Hayssam Youssef, Director of Marassi Al Bahrain, said that residents will get to enjoy an elevated lifestyle experience and be a part of Marassi Al Bahrain’s modern and diverse community. “From the golden sands of Marassi Beach”, he explained, “to the eclectic shopping of Marassi Galleria, residents will find that they have all the amenities they could wish for within a short walking distance.”
Marassi Park encompasses a spectrum of residential units to suit all needs, from stylish one-bedroom condos to family-sized, three-bedroom apartments.
The development features an array of lifestyle amenities including a swimming pool for adults, a children’s pool and play area, a gym with advanced facilities, and communal outdoor gardens, inclusive of barbeque and seating areas.
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A new US $1.1bn mixed-use development will be developed following a partnership between the King Salman Park Foundation and Saudi developer Naif Al Rajhi Investment Company. Unveiling the project, the Foundation said this was the first public-private partnership project managed and funded entirely by the private sector.
Spread over a 290,000sqm area within the Park premises, the project will feature over 1,500 residential units that will include Salmani-style apartments and townhouses overlooking the park. In addition, it will boast 140,000sqm of gross leasable areas for offices and retail, hotels, schools, and several educational, health, sports, recreational and social facilities.
According to the Foundation, the office spaces will feature central Grade A and flexible office options, fully blended within residential plots, while the hospitality offerings will cater to business tenants and park visitors. Retail space will be distributed throughout the public realm, covering the essential needs of residents, it stated.
“This partnership represents a major milestone for us. We are thrilled to launch this unique collaboration and excited to work alongside our partners and investors and all those involved in making our ambitious vision a reality. The creation of the fund is a sign of our ongoing commitment to creating a world-class destination that will enrich the lives of residents and visitors alike, and build a legacy of urban regeneration project for generations to come,” said George Tanasijevich, CEO of King Salman Park Foundation.
According to a report, Saudi Fransi Capital is the fund manager, while King Salman Park Investment and Real Estate Development Company is the master developer, and Naif Al-Rajhi Investment Company is the real estate developer and master lessee of the project. The fund’s working mechanism is said to be a model of cooperation between public and private entities, with the latter responsible for managing and financing the fund. It focuses on the development of the first real estate investment in plots of land in the park.
This partnership is unique, linking key partners and the fund’s capital structure to create an innovative risk and reward proposition for both equity and debt stakeholders, balancing the King Salman Park project’s long-term and projected capital returns with a consistent and regular income flow in the short and long term, said a top official.
Saudi Fransi Capital CEO Salam Alkhunaizi noted, “We are privileged to be part of the iconic King Salman Park project through the launch of this fund. We are hoping to provide a pioneering model on how public-private partnerships can work profitably and effectively for all, especially in implementing and managing a huge and exceptional project such as King Salman Park.”
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Bain & Company has recently unveiled the appointment of five of the consultancy’s team to partner positions in the Middle East.
This strategic move demonstrates Bain & Company’s commitment to nurturing top-tier talent and solidifying its pivotal role in the region’s thriving and rapidly expanding consultancy market, suggested the firm.
The newly appointed partners include Jawad Abdulsamad, Kyle Strong, Marwan El Hachem, Naim Daher Mansour, and Sergey Glushkin.
Tom de Waele, managing partner of Bain & Company Middle East, expressed his enthusiasm about the promotions, stating: “We are thrilled to announce the well-deserved elevation of these five individuals to partner positions. Each of them has consistently demonstrated exceptional dedication and delivered outstanding results to their clients, teams, and the firm. We are privileged to have them join our partner team, where they will be instrumental in driving our growth story in this dynamic and rapidly expanding region. They will play a pivotal role in helping our clients capitalise on the Middle East’s opportunities and navigate the global markets.”
Jawad Abdulsamad, who has been with Bain & Company in Riyadh since 2018, specialises in Advanced Manufacturing, Real Estate, and Sustainability. His expertise encompasses sustainable cities, clean manufacturing, and the localisation of advanced industries, such as semiconductors.
Jawad has played a key role in advising Saudi Arabia’s giga-projects and assisting clients in preparing their workforce for the transition to Industry 4.0. Additionally, he has contributed significantly to the growth of Bain’s Riyadh presence and has been a driving force behind recruitment efforts and social impact initiatives.
Kyle Strong, who joined Bain & Company in Sydney in 2015, has advised C-level executives across EMEA and APAC regions.
His diverse portfolio spans national energy champions, chemical, real estate, construction, airport ground operations, and insurance sectors. Kyle has been influential in recruiting for Bain’s Doha office and holds degrees from Northwestern University and the University of Virginia Darden School of Business.
Marwan El Hachem, a member of Bain & Company since 2015, is a key leader in the Public & Social Sector practice in the Middle East. His expertise lies in performance improvement, human capital development, agile operating models, sustainable development, strategy, and digitalisation projects. Marwan, a graduate of Ecole Polytechnique, Harvard Business School, and ESIB Beirut, will continue to counsel leading organizations in the GCC on funding models and budget optimisation.
Naim Daher Mansour, with Bain & Company since 2016, focuses on financial services and enterprise technology practices in Riyadh. He brings over a decade of experience in banking, insurance, and market infrastructure across the Middle East. His areas of expertise encompass strategy, operating model design, process optimisation, post-merger integration, and digitalization. Naim has been instrumental in establishing and developing the Riyadh office.
Sergey Glushkin, a dedicated Bain employee for over a decade, has worked across Bain’s Moscow and Middle East offices. His career has spanned diverse sectors, including energy and natural resources, manufacturing, transportation, and private equity. Sergey’s expertise lies in strategy development, performance improvement, and operating model design. He has also ventured into entrepreneurship and technology partnerships, showcasing his versatility.
These five new partner promotions solidify Bain & Company’s position as a leading consultancy firm in the Middle East and demonstrate their continued commitment to delivering top-notch consulting services to clients in the region and beyond.
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The construction contract for the Long Thanh International Airport in Vietnam has been awarded to the Vietur consortium, which is being led by IC Istas. The consortium comprises ten companies, including Vietnamese private firms Ricons, Newtecons, and Sol E&C, as well as Vinaconex and Construction Corporation No.1. IC Istas has prior experience constructing airports in Russia, Bulgaria, and Turkey.
Construction of the US $1.5bn project is expected to begin this month and due to be completed by November 2026.
The first phase will cost an estimated $4.1bn and includes the construction of a runway and terminal, with a capacity to accommodate 25m passengers per year. A second runway and terminal will be built, as part of the second phase, which will serve 50m passengers per year.
Phase three of the project will see the airport expanded to serve 100m passengers per year, making it the largest and busiest airport in Vietnam, surpassing Tan Son Nhat International Airport.
The airport will be connected to Thu Thiem, which is located to the east of Ho Chi Minh City, with a 38km light rail system, and a future north-south high-speed railway. Construction work on the runway began in December last year, following the country’s prime minister’s calls to expedite the project.
The project’s final cost is expected to be $16bn and is not expected to be complete until 2050, when it will become Vietnam’s largest airport.
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Thomas & Adamson has said that its turnover and staff headcount grew by 25% and 20% respectively in the first half of FY2023, representing significant growth compared to FY2022. The firm said that its strong performance in the Middle East has been driven primarily by the UAE.
Quoting Mordor Intelligence, the firm said the UAE construction market size in 2023 is $38.99bn, with $145bn in projects currently underway, and a project pipeline of approximately $125bn. Despite being a growth market, inflation across construction prices, dynamic market conditions and supply chain challenges, including high levels of construction price inflation have given rise to a desire by clients to minimise timeline deviations and cost overruns, it said, before adding that proven PM and CM firms have been winning work to tackle these constraints.
In the FY2023 period to date, the Middle East accounted for 15% of T&A’s global turnover and is on track to set a new high watermark for the region in the post-pandemic period. 80% of T&A’s Middle East business came from Dubai, while 13% came from Saudi Arabia. The remainder of the work was sourced from several other regional markets, including Abu Dhabi, Sharjah, Ras Al Khaimah and Egypt, the statement pointed out.
“We are pleased with the recent performance we’ve achieved in the Middle East and look forward to closing the year with stronger results still. It’s been a pleasure for Thomas & Adamson to work with such a diverse mix of valued clients across the region this year, and we look forward to supporting their development aspirations in the future,” said Zander Muego, Partner at Thomas and Adamson.
The CM service line is said to have represented 70% of T&A’s workload during FY2023 to date, with the balance being PM-led engagements. The pipeline for Q4 2023, however, shows a 40% increase in PM projects with T&A looking at a more balanced split between its two core service offerings. The firm also explained that 75% of its business came from existing clients, with the balance coming from new clients.
Muego remarked, “We remain committed to being a trusted partner and working closely with clients to deliver excellence, efficiency, and satisfaction on projects across sectors. Our extensive track record of successfully delivering projects over 85 years is a testament to that commitment, and it’s great to see it is appreciated through significant repeat business from our regional clients, in addition to a healthy amount of new business.”
In addition to residential projects, T&A said it is engaged in developments in several other sectors, including cultural, F&B, workplaces, masterplanning, education and retail. Middle East clients during FY2023 to date include private developers, consultants, and government, reflecting the strengths of local economies and T&A’s proven capabilities in adding value to real estate projects, the statement concluded.
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