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ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

TAQA, Emirates Steel to manufacture MENA’s first green steel

Jasim Husain Thabet, TAQA Group CEO and Managing Director, and Engineer Saeed Ghumran Al Remeithi, CEO of Emirates Steel, sign MoU.
    • The project will save energy while creating a sustainable and clean manufacturing process, says TAQA.

    • TAQA envisions growing its gross power capacity from 18 GW to 30 GW in the UAE.

    DUBAI: Middle East North Africa (MENA) region’s first green steel would be manufactured at a green hydrogen project to be built by Abu Dhabi-based diversified utilities and energy group TAQA in partnership with Emirates Steel.

    TAQA said in a statement that the project will enable green and low-carbon steel manufacturing, saving energy while creating a sustainable and clean manufacturing process.

    Jasim Husain Thabet, TAQA’s Group CEO and Managing Director, said the partnership with Emirates Steel “leverages our combined expertise” to lower the overall cost of production as well as reducing carbon emissions.

    TAQA envisions green hydrogen to form a valuable part of its 2030 strategy for growth, including growing its gross power capacity from 18 GW to 30 GW in the UAE and adding up to 15 GW internationally.