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MESC secures the first package in Kuwait New Refinery Project – Main processing unit

KNPC new refinery is a world-class grass roots refinery to produce low sulfur fuel oil to replace high sulfur fuel oil used in local power plants. This large scale refinery is designed to process 615,000 BPSD of light Kuwait crude oil or 535,000 BPSD of heavy mix Kuwait crude oil. This refinery uses latest technology to comply with stringent environmental regulations to protect the local environment, and at the same time produces the latest environmentally friendly ultra-low sulfur diesel fuels for worldwide markets as well as jet fuel, kerosene, and naphtha feedstock for petrochemical plants.

The project is a significant one and it places KNPC amongst the first global refining companies in terms of refining capacity and producing environmentally friendly fuel that meets all international environment conditions. MESC has secured the first order in this Mega project with an order to supply instrumentation and control cables for the main processing unit with Tecnicas Reunidas/Sinopic / Hanwha Engineering

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MESC secures the first package in Liwa Plastics Industries Complex – Sohar Refinery

KNPC new refinery is a world-class grass roots refinery to produce low sulfur fuel oil to replace high sulfur fuel oil used in local power plants. This large scale refinery is designed to process 615,000 BPSD of light Kuwait crude oil or 535,000 BPSD of heavy mix Kuwait crude oil. This refinery uses latest technology to comply with stringent environmental regulations to protect the local environment, and at the same time produces the latest environmentally friendly ultra-low sulfur diesel fuels for worldwide markets as well as jet fuel, kerosene, and naphtha feedstock for petrochemical plants.

The project is a significant one and it places KNPC amongst the first global refining companies in terms of refining capacity and producing environmentally friendly fuel that meets all international environment conditions. MESC has secured the first order in this Mega project with an order to supply instrumentation and control cables for the main processing unit with Tecnicas Reunidas/Sinopic / Hanwha Engineering

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MESC-RAK Supplies Banagas in Bahrain

MESC – RAK received first direct order from Bahrain for Banagas Project . The contractors and the NOC has started recognizing MESC-RAK facility as a quality supplier as MESC-KSA , since the same quality procedures and manufacturing practice is maintained and unified across MESC Facilities

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Chairman Mr. Abdulaziz Alnamla & President Mr. Aiman Almasri visited MESC Plant-KSA in 29th of December 2016

Chairman of MESC group Mr. Abdulaziz Al-Namla and President Mr. Aiman Al Masri paid visit to the MESC factory, during this visit Mr. Abdulaziz meet the head of departments in the factory and stand on the progress of work at the plant. At the end of his visit Mr. Abdulaziz urging all departments for more effort and giving and teamwork.

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MESC-RAK Receives a direct Purchase order from BAPCO

Wholly owned by the Government of Bahrain, Bapco is engaged in the oil industry including refining, distribution of petroleum products and natural gas, sales and exports of crude oil and refined products. The company owns a 264,000 barrel-a-day refinery, storage facilities for more than 14 million barrels, a marketing terminal and a marine terminal for its petroleum products. 95% of the company’s refined products are exports. Bapco is primarily engaged with exploration, refining, storage, production, marketing, training and development, and environmental initiatives in the kingdom.

MESC-RAK has secured the first direct purchase order from BAPCO to be supplied completely from MESC-RAK  facility . this a very important addition to MESC-RAK approvals and supply record.

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A cooperation agreement conclude with the Disabled Children’s Association

Middle East Specialized Cables Company (MESC) and Disabled Children’s Association signed a memorandum of understanding, as a National Initiative for safe driving (Ya3tek Khairha ), which aims to reduce the incidence of disability through all possible means. Mr. Aiman Al-masri – MESC president – represented MESC at the signing of the memorandum. Mr. Suleiman Mansour represented – Executive Director of the National Initiative for driving safe “Ya3tek Khairha ” he had expressed his happiness with this cooperation with (MESC) Company with his thanks and appreciation to the management of the company on their interaction and their consent to participate in the program, initiative and cooperation with the Assembly.

Chairman of MESC group Mr. Abdulaziz Al-Namla and President Mr. Aiman Al Masri paid visit to the MESC factory, during this visit Mr. Abdulaziz meet the head of departments in the factory and stand on the progress of work at the plant. At the end of his visit Mr. Abdulaziz urging all departments for more effort and giving and teamwork.

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New Egyptian Branch for Al-Moussa Cables

On 6, Dec 2016 Al-Moussa Specialized Cables Co. held the opening ceremony for their new branch in Cairo. The opening ceremony was attended by MESC VP Marketing & Sales Mr. Tamer Salama and other MESC colleagues, additionally, a number of Egyptian businessmen including Sports Minister Mr. Taher Abu Zaid, were present during the ceremony.

 

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Middle East Specialized Cables Co (MESC) Announcement Update on the Progress of the Conversion to IFRS Accounting

As per the requirements of the Capital Market Authority for all listed entities on the Saudi Stock Exchange to adopt International Financial Reporting Standards (IFRS), endorsed by the Saudi Organization for Certified Public Accountants (SOCPA); Middle East Specialized Cables Co (MESC) announces its second update on progress of the conversion to IFRS Accounting as follows:
1. IFRS Transition Plan
The detailed plan for the transition to IFRS accounting & accounting policies has been validated by the management and under implementation.
2. IFRS Consultant
A specialist external IFRS consultant has been appointed for the IFRS transition project and the consultant is working with MESC on the execution of the IFRS transition project.
3. Internal IFRS Team
The external IFRS consultant onboard is working with an experienced in-house finance team that has been established for managing and delivering the IFRS transition project for MESC.
4. IFSR Transition Status
MESC has not faced any difficulties and does not expect to face any major obstacles for the transition to IFRS accounting.
5. First IFRS Financial Statements
MESC will produce its first set of IFRS financial statements for the quarter ended 31st March 2017, alongside IFRS based comparatives for the quarter ended 31st March 2016. All subsequent financial statements (including comparatives) will be prepared based on IFRS.
6. IFRS Accounting Policies
The target date for approving the IFRS accounting policies is the 15th December 2016, to allow a smooth transition to IFRS accounting by 1st January 2017.

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Chief Executive Officer of Middle East Specialized Cables (MESC), Eng. Ayman Bin Ibrahim Almasri, in an exclusive interview with Al-Sanaat Al-Watania magazine

Al-Sanaat Al-Watania magazine interviewed the Chief Executive Officer of Middle East Specialized Cables (MESC), Eng. Ayman Bin Ibrahim Almasri. He talked about MESC Company and how it is a leader of specialized cables industry in KSA and the Middle East. Eng. Ayman confirmed that MESC has been in the Gulf Cooperation Council countries for many years and that the demand on its products is still increasing, in spite of the mass competition from Indian, Chinese, and other big companies around the world. Eng. Ayman also talked about the company and what it offers for the localization, he said: MESC Company plays an important role in the field of localization through its advanced training center. In the end of the interview Eng. Ayman thanked the Saudi leadership for their concrete support of the local industries and its quest to diversify sources of national income through 2030 KSA Vision.

Read more by visiting the magazine website: http://sna3at.com/Journal/10