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Abu Dhabi makes major construction investments Administrator25 April 2024
Latest news from Abu Dhabi's construction and transport sectors:> Hassan Allam and Siemens confirm Hafeet Rail award
> Contractors win Oman-Etihad Rail packages
> Alpha Dhabi sells stake in construction subsidiary to ADQ
> Abu Dhabi to launch Al Fahid island this year
> Abu Dhabi approves $953m housing project for nationals
> Contractor starts Bloom Casares package construction
> Abu Dhabi launches Hudayriyat Island residences
Abu Dhabi is making significant investments in its construction sector. This was demonstrated in March, when the Abu Dhabi Executive Council (Adec) approved a budget of AED66bn ($18bn) for the development of 144 projects in the emirate. This includes projects in the areas of housing, education, human capital, tourism and natural resources.
This investment follows on from a strong performance in 2023, when Abu Dhabi awarded contracts worth over $12bn in the construction and transport sector, according to regional projects tracker MEED Projects. This was 14% higher than the value of contracts awarded in 2022.
Abu Dhabi also boasts a pipeline of $41bn-worth of projects in the construction and transport sector, of which $17bn-worth are in the bidding stage, promising significant opportunities for contractors in the short to medium term.
Imminent projects include the UAE-Oman rail scheme, the high-speed rail link connecting Abu Dhabi and Dubai, and the real estate developments on the Ramhan and Al Fahid islands.
Construction boom
Construction is the biggest single sector in Abu Dhabi after oil and gas, and large-scale residential developments planned by both the government and private investors are the backbone of the sector.
In early February, Abu Dhabi-based private real estate developer Aldar Properties said that it will invest AED5bn ($1.4bn) in developing new commercial assets at Yas Island, Saadiyat Island and Al Maryah Island, which will be delivered in phases between 2025 and 2027.
Aldar is also preparing to launch the Al Fahid Island project this year. In February, the developer paid AED2.5bn ($680m) for a 4 million square metre land bank on the island to build a new waterfront development.
Aldar has also awarded two contracts worth over AED7bn for the development of the Saadiyat Lagoons project. It awarded an estimated AED3bn ($820m) contract to the local contractor Innovo for package three and a AED4.1bn ($1.2bn) contract for packages two and four of the development to a team of local contractors Trojan Construction Group and Arabian Construction Company.
Project developer Q Properties also awarded a AED584m ($159m) contract late last year to the local Trojan General Contracting for the development of phase one of the Reem Hills scheme in Abu Dhabi.
In late March, Adec also approved a new housing development known as the Yas Canal residential project. Worth AED3.5bn ($953m), the scheme will be built on an area of 1.8 square kilometres at Al Raha Beach and will offer housing for UAE nationals.
Transport links
In recent months, Abu Dhabi has made strides in the development of its transport sector.
The emirate’s most advanced transport scheme is the UAE-Oman rail network. In January, Oman-Etihad Rail Company received bids for three civil works packages for the project that will link the two countries.
Etihad Rail is also preparing to start construction on the UAE’s high-speed rail project and has asked contractors to express interest in the early works for the line connecting Abu Dhabi and Dubai. The client is expected to launch prequalification for the project by the end of Q2 2024.
Meanwhile, contractors have started work on the first phase of Abu Dhabi’s long-awaited light rail transit system. Phase one includes constructing a tram link connecting Electra Street, Al Maryah Island and Al Reem Island.
Etihad Rail is also making progress on its AED50bn ($13.6bn) integrated cargo and passenger transport system running across the UAE, which was announced in late 2021. The scheme comprises three projects, the first of which is a freight rail component. The second project, covering passenger services, will connect 11 cities in the UAE, from Al Sila to Fujairah. The third project covers integrated transport services and will establish an innovation centre to incorporate smart transportation solutions into the overall plan.
MEED's April 2024 special report on the UAE includes:
> COMMENT: Non-oil activity underpins UAE economy
> GVT & ECONOMY: Non-oil activity underpins UAE economy
> BANKING: UAE banks seize the moment
> UPSTREAM: Adnoc oil and gas project spending sees steep uptick
> DOWNSTREAM: UAE builds its downstream and chemical sectors
> POWER: UAE marks successful power project deliveries
> WATER: Dubai tunnels project dominates UAE pipeline
> DUBAI CONSTRUCTION: Dubai real estate boosts construction sector
> ABU DHABI CONSTRUCTION: Abu Dhabi makes major construction investmentshttps://image.digitalinsightresearch.in/uploads/NewsArticle/11713054/main.gif -
Kuwait reviews 1.1GW solar prequalifications Administrator25 April 2024
Kuwait’s Electricity, Water & Renewable Energy Ministry (MEWRE), through the Kuwait Authority for Partnership Projects (Kapp), is still reviewing the prequalification applications it has received for a contract to develop and operate a 1,100MW solar independent power producer (IPP) scheme.
The project comprises the Al-Dibdibah and Shagaya renewable energy phase three, zone one project, Kapp said when it issued the request for qualifications to interested bidders in January.
The 1,100MW solar photovoltaic (PV) IPP project is located in Jahra governorate, approximately 100 kilometres from the capital, Kuwait City.
"They are still evaluating the prequalification submissions," one source tells MEED, without disclosing when the ministry or KAPP expects to publish the list of prequalified bidders for the contract.
In August 2022, a team led by London-headquartered consultancy firm EY won the transaction advisory contract for the next phases of Kuwait’s renewable energy programme.
London-headquartered DLA Piper is the legal adviser, while Norwegian engineering services firm DNV is the client’s technical and environmental adviser.
The Kuwait Institute for Scientific Research (Kisr), in partnership with the electricity ministry, developed the first phase of SREP. This comprised a 50MW parabolic trough CSP plant and a wind and solar PV plant, each with a 10MW capacity.
2030-50 strategy
Kuwait aims to have a renewable energy installed capacity of 22,100MW by 2030 as part of its new 20-year strategy that ends in 2050, which was announced in March.
Electricity, Water & Renewable Energy Minister Salem Falah Al Hajraf confirmed that the strategy also involves the installation of distributed or rooftop solar farms, with the state procuring the energy output from solar photovoltaic (PV) farms.
Kuwait's current overall power generation installed capacity is about 20GW.
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LIVE WEBINAR: Abu Dhabi Oil & Gas 2024 Administrator25 April 2024
Agenda:
- Overview of the Abu Dhabi oil, gas and petrochemicals projects market
- Summary description of the main megaprojects, including project programmes
- Analysis of active contracts and spending to date
- Analysis of top contracts by work already awarded
- Long-term capital expenditure outlays and forecasts
- Highlights of key contracts to be tendered and awarded over the next 18 months
- Top contractors and clients
- Breakdown of spending by segment, i.e. oil, gas, petrochemicals – upstream, downstream, onshore and offshore
- Key drivers and challenges going forward
- Q&A session
Time: Monday 6 May at 2:00 PM GST
Hosted by: Indrajit Sen, oil and gas editor at MEED
Indrajit Sen has been working with MEED since December 2017, covering the Middle East and North Africa region’s oil, gas, refining and petrochemicals markets, across the upstream, midstream and downstream segments. Indrajit closely tracks projects undertaken by the region’s energy giants such as Saudi Aramco, Adnoc, QatarEnergy and Petroleum Development Oman, as well as those being planned by international oil companies, particularly in the Gulf.https://image.digitalinsightresearch.in/uploads/NewsArticle/11713013/main.gif -
Adnoc sees project spending uptick Administrator25 April 2024
The latest news from the UAE's upstream sector includes:> Contractor orders compressors for Adnoc project
> Adnoc Offshore awards Upper Zakum contract
> Contractors prepare bids for Lower Zakum oil project
> Adnoc Onshore awards contracts for well tie-ins packages
> Adnoc Onshore evaluates prices for fields upgrade
> Kent wins framework agreement with BP
> Dubai-based company wins Egypt oil contract extension
Abu Dhabi National Oil Company (Adnoc) spent close to $22bn last year on upstream projects, making it one of the best years on record for oil and gas project capital expenditure (capex) in the UAE, if not the top.
Adnoc and its partners in the Ghasha concession dominated spending in 2023, awarding contracts worth $16.94bn in early October for engineering, procurement and construction (EPC) works on the Hail and Ghasha sour gas production project.
The investment represents the largest-ever capex on a single oil and gas project in the UAE. It marks a giant leap for the country in its goal to become self-sufficient in natural gas production. As such, the project investment is also having a galvanising, trickle-down effect on the UAE oil and gas supply chain.
The Hail and Ghasha fields are part of Abu Dhabi’s Ghasha concession, which is expected to produce more than 1.5 billion cubic feet a day (cf/d) of gas before the end of this decade.
Adnoc holds the majority 55% stake in the Ghasha concession. The other stakeholders are Italian energy major Eni with 25%, Germany’s Wintershall Dea with 10%, and Austria’s OMV and Russia’s Lukoil, each with 5%.
A consortium of Abu Dhabi’s NMDC Energy and Italian contractor Saipem was awarded the project’s offshore EPC package. Its value is $8.2bn, with Saipem declaring its share to be worth $4.1bn.
The scope of work broadly involves the EPC of offshore facilities, including facilities on artificial islands and subsea pipelines.
Italy-headquartered Tecnimont was awarded the onshore EPC contract. The $8.74bn contract relates to the EPC of onshore facilities, including carbon dioxide (CO2) and sulphur recovery and handling.
Robust spending
Adnoc is expected to maintain robust spending on upstream projects this year, if not match the 2023 level, as it strives to achieve its oil and gas production targets. The Abu Dhabi energy giant aims to attain an oil production capacity of 5 million barrels a day (b/d) by 2027 and become self-sufficient in gas production by the end of this decade.
Adnoc is understood to have already spent more than $2.3bn so far this year on projects deemed vital to reaching its crude production goal.
Adnoc Group subsidiary Adnoc Offshore awarded the main EPC contract in mid-March for a project to increase the oil production potential of Abu Dhabi’s largest producing oil asset – the Upper Zakum offshore field – to 1.2 million b/d.
UAE-based Target Engineering Construction Company won the contract for the project, which is estimated to be worth $825m.
The main scope of work on the project involves the EPC of several surface facilities and plants at the Upper Zakum offshore development’s four main artificial islands of Al-Ghallan, Umm Al Anbar, Ettouk and Asseifiya – also known as Central Island, West Island, North Island and South Island, respectively.
Also in 2024, another Adnoc Group subsidiary, Adnoc Onshore, has awarded main contracts totalling more than $1.5bn for two packages on a project involving the conversion of wells and the installation of associated tie-ins at the southeast cluster of oil fields in Abu Dhabi.
Package 3 covers the EPC of well tie-ins and other associated structures at the Asab and Sahil oil fields, while package 4 relates to the Shah, Qusahwira and Mender fields.
Adnoc Onshore split the scope of work on packages 3 and 4 and appointed two contractors for each package.
Pakistan-headquartered Descon Engineering and Galfar Engineering & Construction Emirates, the UAE division of Omani contractor Galfar Engineering & Contracting, have won contracts for package 3, according to sources.
Galfar Engineering & Construction Emirates has also won a contract for package 4, while Abu Dhabi-based Al Nasr Contracting Company has secured the other contract, sources said. The combined values of the EPC contracts awarded by Adnoc Onshore for packages 3 and 4 are estimated to be $790m and $760m, respectively.
Upcoming tenders
Looking ahead, Adnoc Offshore is also preparing to issue the main EPC tender for a second phase of the project to increase the oil production capacity of the Upper Zakum field development.
Separately, contractors are preparing bids for a major project to boost oil production at the Lower Zakum offshore hydrocarbons concession in Abu Dhabi.
The Lower Zakum hydrocarbons zone is 65 kilometres northwest of Abu Dhabi in the Gulf’s waters. Adnoc Offshore holds the majority 60% stake in the Lower Zakum asset. Foreign partners include an Indian consortium of companies led by ONGC Videsh (10%), Japan’s Inpex Corporation (10%), China National Petroleum Corporation (10%), Italy’s Eni (5%) and France’s TotalEnergies (5%).
Adnoc and its partners in the Ghasha concession dominated spending in 2023, awarding contracts worth $16.94bn in early October for EPC works on the Hail and Ghasha sour gas production project
Adnoc Offshore’s larger, longer-term objective is to raise the asset’s output capacity to 520,000 b/d by 2027 and maintain that level until 2034. This strategic goal will be accomplished through the Lower Zakum Long-Term Development Plan (LTDP-1) project.
Adnoc Offshore issued the main EPC tender for the multibillion-dollar Lower Zakum LTDP-1 project in March. Contractors invited to bid have until the end of July to submit technical bids for the project, while commercial bids are due in September.
Adnoc Offshore intends to award EPC contracts for the Lower Zakum LTDP-1 project by the end of the year.
MEED's April 2024 special report on the UAE includes:
> COMMENT: Non-oil activity underpins UAE economy
> GVT & ECONOMY: Non-oil activity underpins UAE economy
> BANKING: UAE banks seize the moment
> DOWNSTREAM: UAE builds its downstream and chemicals potential
> POWER: UAE marks successful power project deliveries
> WATER: Dubai tunnels project dominates UAE pipeline
> DUBAI CONSTRUCTION: Dubai real estate boosts construction sector
> ABU DHABI CONSTRUCTION: Abu Dhabi makes major construction investmentshttps://image.digitalinsightresearch.in/uploads/NewsArticle/11705970/main.jpg -
Bahrain mall to install solar carport Administrator24 April 2024
The Avenues-Bahrain has signed a solar power purchase agreement (PPA) with UAE-headquartered solar company Yellow Door Energy (YDE) for a 3.5MW solar carport system encompassing the mall’s entire outdoor parking facility.According to the shopping mall operator, YDE will build, operate and maintain the solar carport, which will comprise over 6,000 bi-facial solar panels providing shade for 1,025 parking spots while generating over 5.8 million kilowatt-hours (kWh) of clean energy in its first year.
The Avenues-Bahrain expects construction of the solar carport to begin soon and be completed by the fourth quarter of 2024.
The solar carport, covering an area of 23,500 square metres (sqm), will complement the mall’s four-year-old rooftop solar photovoltaic (PV) system, which has a capacity of 250KW and offsets 300 metric tonnes of carbon emissions annually.
The Avenues-Bahrain win marks YDE’s sixth secured solar project in Bahrain, bringing its total portfolio in the country to over 30MW of awarded solar projects.
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No extension for Dubai sewer tunnel prequalification Administrator24 April 2024
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Dubai Municipality expects interested engineering, procurement and construction (EPC) companies to submit their statements of qualifications (SOQs) by 30 April for the contracts to develop the Dubai Strategic Sewerage Tunnels (DSST) project.
“No further extension has been granted,” a source close to the project tells MEED.
International, regional and local EPC contractors are keen to prequalify to bid for the contracts for the $22bn DSST scheme, which Dubai Municipality is implementing on a public-private partnership (PPP) basis.
In addition to its size, the project is gaining significant interest due to its unique procurement approach, whereby EPC contractors’ prequalification precedes developers’ prequalification.
Dubai Municipality is undertaking the prequalification process for EPC contractors ahead of prequalifying companies that can bid for the contracts to develop and operate various packages of the project.
According to industry sources, the floods resulting from last week’s storm that hit Dubai and other emirates have also made implementing the project more urgent.
The bidders for each of the PPP requests for proposals (RFPs) will be prequalified consortiums comprised of sponsors, EPC contractors and operation and management (O&M) contractors.
MEED previously reported that the overall project will require a capital expenditure of roughly AED30bn ($8bn), while the whole life cost over the full concession terms of the entire project is estimated to reach AED80bn.
The project aims to convert Dubai’s existing sewerage system from a pumped system to a gravity system by decommissioning the existing pump stations and providing “a sustainable, innovative, reliable service for future generations”.
Dubai currently has two major sewerage catchments. The first in Deira is Warsan, where the Warsan sewage treatment plant (STP) treats the flow.
The second catchment, called Jebel Ali, is in Bur Dubai, where the wastewater is treated at the Jebel Ali STP.
DSST-DLT packages
Under the current plan, the $22bn DSST project is broken down into six packages, which will be tendered separately as PPP packages with concession periods lasting between 25 and 35 years.
The first package, J1, comprises Jebel Ali tunnels (North) and terminal pump stations (TPS). The tunnels will extend approximately 42 kilometres, and the links will extend 10km.
The second package, J2, covers the southern section of the Jebel Ali tunnels, which will extend 16km and have a link stretching 46km.
W for Warsan, the third package, comprises 16km of tunnels, TPS and 46km of links.
J3, the fourth package, comprises 129km of links. Once completed, Dubai Municipality will operate them, unlike the first three packages, which are envisaged to be operated and maintained by the winning PPP contractors.
J1, J2 and W will be procured under a design-build-finance-operate-maintain model with a concession period of 25-35 years.
J3 will be procured under a design-build-finance model with a concession period of 25-35 years.
J1, J2, W and J3 will comprise the deep sewerage tunnels, links and TPS (DLT) components of the overall project.
MEED understands the project’s remaining two packages, the expansion and upgrade of the Jebel Ali and Warsan STPs, will be procured in a process separate from the four DSST-DLT components.
The RFPs for the four DSST-DLT packages will likely be issued sequentially, staggered around six to 12 months apart.
Dubai Municipality has appointed Abu Dhabi-headquartered Tribe Infrastructure Group as lead and financial adviser, UK-based Ashurst as legal adviser and the US’ Parsons as technical adviser for the DSST project.
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UAE and Oman firms sign $32bn energy deal Administrator24 April 2024
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An industrial and energy project valued at an estimated AED117bn ($31.8bn) topped the recent investment agreements reached between the UAE and Oman following Sultan Haitham Bin Tariq’s visit to the UAE capital earlier this week.
The package encompasses renewable energy initiatives, including wind and solar projects, alongside green metals production facilities.
The agreement’s signatories included Abu Dhabi National Energy Company (Taqa), Abu Dhabi Future Energy Company (Masdar), Emirates Global Aluminium, Emirates Steel Arkan, OQ Alternative Energy and Oman Electricity Transmission Company.
Details of the planned projects have not yet been disclosed, although the production of green steel and green aluminium in either jurisdiction is implied.
The companies signed the agreements on 22 April in the presence of Sheikh Theyab Bin Mohamed Bin Zayed Al Nahyan, chairman of the Office of Development and Martyrs’ Families Affairs at the Presidential Court, and Sheikh Hamed Bin Zayed Al Nahyan, managing director of Abu Dhabi Investment Authority.
Along with other technology and infrastructure-related partnerships and projects, an agreement for the UAE-Oman rail connectivity project, valued at AED11bn, was also signed.
Photo: WAM
MEED’s latest special report on Oman includes:
> COMMENT: Muscat needs to stimulate growth
> GOVERNMENT & ECONOMY: Muscat performs tricky budget balancing act
> BANKING: Oman banks look to projects for growth
> OIL & GAS: Oman diversifies hydrocarbons value chain
> POWER & WATER: Oman expands grid connectivity
> HYDROGEN: Oman seeks early hydrogen success
> CONSTRUCTION: Oman construction is back on trackhttps://image.digitalinsightresearch.in/uploads/NewsArticle/11706425/main5922.jpg -
Abu Dhabi and Oman launch $180m tech fund Administrator24 April 2024
Abu Dhabi-based investment and holding company, ADQ, and Oman Investment Authority (OIA) have launched a $180m technology focused vehicle called Jasoor Fund.
Jasoor Fund aims to bolster Oman’s digital economy as well as the wider Middle East and North Africa (Mena) region by supporting high-growth technology companies in sectors such as finance, education, health care, clean energy, food, agriculture and logistics.
OIA is represented by Ithca Group, formerly known as Oman Information and Communication Technologies Group, in the fund.
According to ADQ, the fund’s core focus will be on innovative technology companies established in the sultanate, in addition to technology startups in other countries in the region.
It will undertake investments in high-growth technology companies at various stages of development that have established business models.
Mohamed Hassan Alsuwaidi, ADQ managing director and chief executive, said the launch of Jasoor Fund “reinforces our commitment to make investments that unlock the potential of key sectors of the economy, while creating lasting value for stakeholders”.
Jasoor Fund is part of broader framework agreement signed between both parties in 2022, when they identified investment opportunities worth over $8bn across key sectors of Oman’s economy.
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Contractors win Oman-Etihad Rail packages Administrator23 April 2024
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Oman-Etihad Rail Company (OERC) has announced that it has awarded contracts for three civil works packages for the railway project linking Oman and the UAE, which is now officially called Hafeet Rail.
The estimated AED5.5bn ($1.5bn) design-and-build contract was awarded to a consortium of Abu Dhabi-based National Projects Construction (NPC), National Infrastructure Construction Company (NICC), Tristar Engineering & Construction and Oman’s Galfar Engineering & Contracting.
NPC is the infrastructure development arm of the Abu Dhabi-based Trojan Construction Group, which is a subsidiary of local investment firm Alpha Dhabi.
According to sources close to the project, the clients are expected to appoint an engineering design firm for the project imminently.
NICC is the project management consultant for the Hafeet Rail scheme.
OERC also awarded a separate contract for the rolling stock systems and integration contracts to German firm Siemens and Egyptian contractor Hassan Allam Construction.
Several high-ranking officials from both sides attended the agreement signing ceremony.
They included Sheikh Hamed Bin Zayed Al Nahyan, managing director of Abu Dhabi Investment Authority; Suhail Bin Mohammed Al Mazrouei, minister of energy and infrastructure; Abdul Salam Bin Mohammed Al Murshidi, chairman of the Omani Investment Authority; Qais Bin Mohammed Al Yousef, minister of commerce, industry and investment promotion; and Ahmed Bin Hilal Al Busaidi, Oman’s ambassador to the UAE.
In January, MEED reported that OERC had received bids for three civil works packages for the railway project linking the two countries.
According to regional projects tracker MEED Projects, the firms submitted their bids on 4 December for packages A and B. The bid for package C was submitted on 11 December.
OERC qualified companies that could bid for the three civil works packages for the railway project in August last year.
Network development
Oman-Etihad Rail Company was established in September 2022 to implement the railway network between the two countries.
The project subsequently received a push after Oman-Etihad Rail Company inked a strategic agreement with Abu Dhabi-based Mubadala Investment Company to support its development.
The UAE-Oman Rail Network is set to improve the two countries’ competitiveness in global trade and help establish their positions as logistics hubs that serve as gateways to regional markets.
The scheme supports both countries’ sustainable development goals by improving their transport and infrastructure sectors.
The line’s increased efficiency compared to other modes of transport is expected to reduce the overall cost of supply chains. The network will also provide trade and investment opportunities for the private sector and new job opportunities.
Passenger trains will run up to 200 kilometres (km) an hour on the line, reducing the journey time between Sohar and Abu Dhabi to 100 minutes and between Sohar and Al Ain to 47 minutes.
Freight trains will reach a top speed of 120km/hour.
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Saudi market returns to growth Administrator23 April 2024
The Gulf projects market grew for the 13th straight month in March, rising by 2.4% and adding $93.6bn in value from 15 March to 12 April as the Saudi projects market returned to positive growth. The kingdom added 2.7% or $48bn in value.
The growth in Saudi projects was driven in part by the launch of the front-end engineering and design of $9.7bn-worth of pumped hydropower storage projects by Enowa, the utility subsidiary of Neom.
The total budget and scope of the Mecca Gate project in Jeddah by the Al Shamiyah Urban Development was also significantly increased.
Beyond the kingdom
The UAE projects market also continued to grow quickly, adding 3.4% or $26bn in value over the same period.
The value addition was led by the ongoing revival of the Al Maktoum International airport expansion and the reactivation of several project packages that had previously been considered on hold.
Phase one of the airport’s strategic expansion plan now has a total of $16bn-worth of work actively under study or in design, including an estimated $7bn concourse building and $3.5bn new terminal, alongside $2.7bn in sub-structural works.
Elsewhere in the GCC, Oman’s projects markets also grew by 2.3%, adding $5.5bn, while Kuwait’s grew by 2.1%, adding $3.7bn.
The Qatari and Bahraini projects markets shrank, shedding 0.3% and 3.5%, or $0.8bn and $2.5bn, respectively.
Outside of the GCC, Iran’s projects market added 4% or $11.5bn in value, driven by the launch into execution of a $16bn pressure-boosting project at the South Pars gas field, while Iraq’s projects market added a marginal 0.5% or $1.8bn in value.
MEED's April 2024 special report on Saudi Arabia includes:> GVT & ECONOMY: Saudi Arabia seeks diversification amid regional tensions
> BANKING: Saudi lenders gear up for corporate growth
> UPSTREAM: Aramco spending drawdown to jolt oil projects
> DOWNSTREAM: Master Gas System spending stimulates Saudi downstream sector
> POWER: Riyadh to sustain power spending
> WATER: Growth inevitable for the Saudi water sector
> CONSTRUCTION: Saudi gigaprojects propel construction sector
> TRANSPORT: Saudi Arabia’s transport sector offers prospectshttps://image.digitalinsightresearch.in/uploads/NewsArticle/11705708/main.gif