World waits for Iran nuclear deal
17 August 2022
Commentary
Jennifer Aguinaldo
Energy & technology editor
The EU team that drafted the final text of a proposal leading to a revival of the 2015 nuclear deal, which puts limits on Iran’s nuclear programmes in exchange for sanctions relief, did not get the yes response it had hoped for from Tehran on 15 August.
The response sounded more like a maybe, with the Islamic Republic highlighting the need for the US, which walked away from the deal in 2018 under former president Donald Trump, to show flexibility on three key issues. While these issues have not been disclosed, one source close to the negotiations has indicated that Iran is seeking guarantees that it will be compensated if a future US president again withdraws from the pact.
The issue of ending a UN investigation into Iran’s past atomic activities is also a key sticking point.
Related read: Will Iran take a deal?
Yet the EU has described Iran’s response as constructive and said it is consulting with the US on a way ahead for the protracted talks.
The fact that Tehran submitted its comments on the proposal on time is seen as a positive sign that it might not stall the negotiations, which have lasted over 17 months, much further.
Next steps
It is now up to Washington to consider Tehran’s written comments while the other Joint Comprehensive Plan of Action parties – China, France, Russia, Germany, the UK and EU states – also assess the document.
Analysts say 1 million barrels a day of oil could be added to the global energy market if the 2015 deal is revived. Oil prices fell to a six-month low of less than $94 a barrel on 17 August as a deal appeared to be, as Tehran officials put it, closer than ever.
A key caveat is that it is not the first time Tehran has asserted that a deal is imminent when others believe that while a deal appears so near, it also remains so far.
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The request for qualifications (RFQs) was issued by the municipality’s Sewerage and Recycled Water Projects Department (SRPD).
The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
The second, TF-15-C2, will deliver stormwater links along Umm Suqeim Road to serve the Al-Barsha and Al-Quoz communities.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
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DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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In September, MEED reported that Modon Holding had tendered contracts for the infrastructure works for the first phase of the Ras El-Hekma project.
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The signing ceremony was held at the Aqaba Special Economic Zone Authority headquarters in Aqaba on 5 February.
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The announcement followed AD Ports Group’s signing of a shareholders’ agreement in January 2024 between its digital arm, Maqta Gateway, and Jordan’s Aqaba Development Corporation regarding their existing joint-venture company, Maqta Ayla.
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Chinese firm wins Ceer automotive supplier park deal
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Beijing-headquartered Metallurgical Construction Corporation (MCC) has won a contract to undertake the steel structure works on the Ceer automotive supplier park in King Abdullah Economic City (KAEC).
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The automotive supplier park will include production and ancillary facilities for various suppliers and provide the material supply infrastructure for Ceer’s EV plant.
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