Abu Dhabi to create vast water stockpile



ABU DHABI // The emirate plans to pump billions of gallons of fresh water underground to establish an emergency reserve. The Dh1 billion (US$270 million) project would supply Abu Dhabi with drinking water for three months should other sources fail.
The water would be stored in artificial aquifers, layers of water-bearing rock or sand from which reserves could be drawn through wells. Dr Mohammed Dawoud, manager of water resources for the Environment Agency Abu Dhabi, said more than five billion gallons of desalinated water would be pumped underground, at a rate of five million gallons a day for three years. "In Abu Dhabi and the Gulf region we rely on water from desalination plants for domestic use; we have no surface water and we have no groundwater to speak of," he said.
"Desalination plants are very sensitive to any pollution in the Gulf or any other kind of emergency. They also sometimes need to be shut down for several weeks for maintenance. Because there are no complementary resources, we need to have a strategic reserve." The aquifer scheme was approved in March after a successful pilot project near Liwa in 2004. Work on the main strategic reserve is expected to start by the end of next year, with water injection starting in 2011.
Dr Dawoud said three options had been considered: borrowing water from neighbours, storing water in tanks and using the sand and rocks of the desert to trap the water in aquifers. "In this region, pumping water from neighbouring countries is not an option as they are in the same situation as us," he said. "We could look at building storage tanks out of steel and concrete, but that would cost a lot of money and would have a huge environmental impact, as they would require a lot of land.
"There is also the problem that if the water stayed in the reservoir for more than 48 hours, it would have to be treated with chlorine and other chemicals, or replaced, or it would become stagnant and algae would start to grow." He said creating an underground aquifer would not only have little impact on the environment, but would also keep the water in a usable state. "It will be available and protected underground, where it can stay for years without stagnating," Dr Dawoud said.
"We will also lose very little water. If you pump in 100 cubic metres of water, you will get an average of 80 cubic metres back that can be used for drinking, while the other 20 per cent can be used for agriculture and other things." He said the pilot scheme had produced "very good results" while similar projects had proved successful in the United States and Europe. "So we are very satisfied that this is the right course of action," Dr Dawoud said.
"We have identified a number of areas, starting with Liwa, where the geological conditions are right for a project of this kind to work. "You need to have somewhere with the right kind of rocks, but where there is also a low level of existing saturation from groundwater. The water we will be injecting will require some treatment when it is recovered, but essentially it is fit for humans to drink. What we don't want is to inject it in to a place where there is already saline or otherwise contaminated water that will mix with the fresh supply."
He said the Environment Agency Abu Dhabi was determining what facilities were needed to create and maintain the reserve, with companies likely to be invited to bid for construction and other work next year. "We should be ready to start injecting water by 2011," Dr Dawoud said. "Assuming we have no problems, we aim to create more reserves elsewhere in the country. This is an essential project."
gmcclenaghan@thenational.ae

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The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

The specs: 2019 Mini Cooper

Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

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Electric scooters: some rules to remember
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  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
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  • Do not drive outside designated lanes
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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

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