Saudi Aramco, Dussur, and Hyundai Heavy Industries sign MoU for engine collaboration
Saudi Aramco, Dussur – the Saudi Arabian Industrial Investments Company – and Hyundai Heavy Industries (HHI) have agreed a deal to jointly collaborate on engines and pumps business development in Saudi Arabia.
The Memorandum of Understanding (MOU) lays out a comprehensive engine and pump business cooperation framework, through the formation of a joint venture (JV) to manufacture 2-stroke engines, 4-stroke engines, and marine pumps.
The contract also includes sales and aftersales services in the Middle East and North Africa region.
The manufacturing facility will be co-located with the maritime yard in Ras Al-Khair, at the King Salman International Complex for Maritime Industries and services.
The new JV will manufacture 4-stroke engines under HHI’s HiMSEN brand licensing, serving as a regional production stronghold to support the growing demand for electricity in the MENA region as well as marine applications for very large and small vessels.
It will also operate under a MAN-HHI sublicense for the manufacturing and servicing of 2-stroke engines.
Both parties have identified strong economic and strategic levers to the new JV such as the lower costs of production due to the advantaged supply of machine finished steel and iron components for engines and pumps from the casting and forging facility JV in Ras Al-Khair.
The engine and pump JV is expected to generate over 650 direct jobs, as well as indirect jobs through the development of the supply chain.
The expectation is that the facility will commence operation by end of 2019.
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.