AFP Jordan said on Monday it had chosen five international consortiums to build the first phase of a multi-million-dollar canal linking the Red Sea to the shrinking Dead Sea. The ambitious $1.1 billion project has been in the works for more than a decade and aims to provide much-needed water to Jordan, Israel and the Palestinian territories. It moved ...

  Bloomberg Iran’s Persian Gulf Petrochemical Industries Co. is in talks with Asian companies to raise as much as 1 billion euros ($1.1 billion) for an expansion including a methanol project intended to serve China and other Asian customers. An Italian company is “in the forefront” as a potential investor in the company, according to Touraj Seyed Arvanaghi, managing director ...

  Riyadh / AFP Arid Saudi Arabia could need more than $53 billion in water sector investment supported by private funds as demand grows, officials said on Sunday. The world’s largest oil exporter, whose petroleum revenues fell 51 percent last year on declining crude prices, is pushing to diversify its economy through greater private sector investment and development of new ...