| | JUNE 20268IN FOCUSGS Engineering & Construction (GS E&C) is accelerating its shift toward renewable energy and a developer-led business model through a partnership with global infrastructure investor I Squared Capital.The companies have signed a memorandum of understanding to establish a joint venture focused on solar power and battery energy storage system (BESS) projects in South Korea. Together, they aim to develop and secure up to 1.5 gigawatts of renewable energy capacity by 2035, including approximately 820 megawatts of solar projects. The investment pipeline is expected to reach around 3 trillion won through equity and project financing. I Squared Capital, which manages more than $60 billion in assets, will provide expertise in investment structuring, financing, and renewable energy development across Asia and Korea. The United States has approved Singapore's request to upgrade its M142 High Mobility Artillery Rocket Systems (HIMARS) in a deal worth about $73 million. The package includes 18 Common Fire Control System (CFCS) upgrade kits, which will enhance launcher operations, targeting accuracy, system responsiveness, and overall battlefield performance. The HIMARS has served with the Singapore Arm ed Forces since 2010 and remains a critical long-range precision strike capability. Singapore's Ministry of Defence said the upgrades form part of ongoing modernization efforts to maintain operational readiness and meet evolving security requirements. In addition to the upgrade kits, the package includes spare parts, training materials, technical manuals, engineering assistance, logistics support, maintenance services, and contractor support from US agencies and industry partners involved. GS E&C JOINS I SQUARED CAPITAL FOR GREEN ENERGY EXPANSION SINGAPORE SECURES US APPROVAL FOR $73 MILLION HIMARS UPGRADE Abu Dhabi National Oil Co. (ADNOC) has instructed customers to resume loading crude oil from its Persian Gulf terminals, citing improved shipping conditions through the Strait of Hormuz. The company said crude from its Das and Zirku island ports has been available for loading since April 27 and warned that failure to lift cargoes could breach contractual obligations. ADNOC stated that, following the recent US-Iran agreement, it expects vessel traffic through the Strait of Hormuz to continue normally and all shipments to proceed on schedule. The company offered tanker support through its own fleet or partner vessels if needed.ADNOC has already sold more than 30 million barrels via Gulf exports this year, with additional transactions anticipated soon and ahead. ABU DHABI MANDATES OIL SHIPMENTS BE LOADED IN HORMUZBUSINESS WORLD
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