1 March, 2024

Construction work to commence soon on $19mln wastewater treatment project in Saudi Arabia

Saudi-listed Nama Chemicals Company is implementing a wastewater treatment project finalised in 2022 for treating wastewater fro9m its calcium chloride and epoxy resin plant. The project was delayed due to difficulties in securing the necessary financing. An amended contract, leading to a 26 percent rise in contract value to SAR 71.24 million ($19 million), has been signed to provide funding for the treatment units for over five years. Work on the project is expected to start on 10 March 2024, and end on 10 August 2025. Trial production will run for two months. The project will be implemented under a lease-to-own arrangement wherein project cost will be paid by Nama Chemicals as rental payments for five years, and at the end of that period, they will become the owners of the treatment units.

1 March, 2024

Contract for MEP works awarded for headquarters project in Saudi Arabia

Hassan Allam Holding announces that its subsidiary Kortech has been awarded the complete Mechanical and Electrical works for the head quarters of one of the top developers in the Kingdom of Saudi Arabia within the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Kortech's extensive scope of works for the new offices in the iconic Tadawul Tower which spans the 23rd to the 30th floor, encompasses electrical works, fire fighting systems, plumbing works, HVAC systems, ELV ICT and communication solutions, data centers, broadcast systems, 4K video walls, contributing to a total approximate built-up area of 21,000 m2.

26 February, 2024

Two new specialized day surgery centers to be launched in Saudi Arabia

Burjeel Holdings PLC, a leading super-specialty healthcare provider announced, its intention to launch the Group's first two Specialized Day Surgery Centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including Oncology, Advanced Gynecology, Orthopedics and Neurology. The Group plans to introduce internationally affiliated centers to the Kingdom to ensure its customers gain access to the best services, including the most advanced robotics solutions for patient care. Burjeel's Specialized Day Surgery Centers will be wholly owned and operated by Burjeel Holdings. It will provide a specialized service offering in the Kingdom, a market with significant growth expectations and strong demand for tailored healthcare services.

26 February, 2024

SAR 60.6 million land lease contract signed for two sports clubs development in Saudi Arabia

Armah Sports Co. signed a land lease contract with Ahmed Al Dahash in Al Munsiyah district, in Riyadh, to establish and operate a men and women's sports club under its B-Fit brand. The rental value of the land is SAR 3.03 million with a total contract value of SAR 60.6 million. The company will rent the 6,200 square meter (sqm) land plot for 21.5 years, beginning on the date of signing the contract and including a year and a half grace period with no leasing value.

26 February, 2024

Two agreements worth SAR21 million signed for new hospital project in Saudi Arabia

Dallah Healthcare Co. and Fitaihi Holding Group announced that their associate, International Medical Center Co. (IMC), signed design and project management agreements with specialized consulting firms to establish a new integrated various specialties hospital at a total value of SAR 21 million. The new hospital will be built on land owned by the International Medical Center in North Obhur, Jeddah, spanning 20,800 square meters (sqm). The first agreement was signed with Dar Al-Handasah Co. for hospital design with an eight-month term, and the second with Midrar Development Management Co. Ltd. for project management with a 31-month term. The foundation stone for this new hospital will be laid after getting the necessary official approvals. Dallah owns 27.18% of IMC, while Fitaihi Group owns 19.25%. IMC owns the International Medical Center Hospital on Hail Street in Jeddah, which has a total area of 20,237 sqm and a capacity of 300 beds in various specialties.

23 February, 2024

$76mln operations & maintenance contracts awarded for water projects in Saudi Arabia

Alkhorayef Water and Power Technologies Company has signed three operations and maintenance (O&M) contracts worth 285.33 million Saudi riyals ($76.09 million) with state-owned National Water Company. The first contract, worth SAR 102.19 million, covers the operation and maintenance of Makkah's environmental services networks for 60 months. The second contract, valued at SAR 112.60 million, entails operating and maintaining Dammam's water and wastewater network for 36 months. The third contract, worth SAR 70.54 million, will see the company operate and maintain water and sewage water networks for 36 months in the Taif region.

23 February, 2024

Plans underway to launch luxury hotel in Saudi Arabia

Riyadh is set to welcome a new 280-key luxury hotel following an agreement signed by Saudi Real Estate Co., also known as Al Akaria. The deal with Marriott International will introduce the Autograph Collection brand to the Saudi capital, paving the way for the opening of the new hotel. Scheduled to commence construction in 2025, the hotel is anticipated to welcome visitors by 2028 upon its completion. The deal reflects Al Akaria's commitment to promoting tourism and hospitality in Riyadh, aligning with the goals of the Kingdom's Vision 2030 to create appealing destinations for residents and visitors. The new hotel will contribute to the development of a mixed-use destination, featuring commercial facilities, restaurants, and entertainment areas.

22 February, 2024

$76 million operation & maintenance contracts signed in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announced the signing of Operation and maintenance Contracts in Makkah, Taif and Dammam cities. The cobmined value of the contracts is SAR 285.3 million. The contracts was awarded by National Water Company, Saudi Arabia. In Makkah City, the works related to the Operation and maintenance of Environmental Services for a duration of 60 months. In Dammam City, the works related to the Operation and maintenance of Water and Wastewater for a duration of 36 months. In Taif City, the works related to the Operation and maintenance of water and sewage water networks for a duration of 36 months.

22 February, 2024

New research and development unit to be built in Saudi Arabia

Alat, an innovative company powered by Saudi wealth fund PIF, has announced a major collaboration with US-based Carrier, a global leader in intelligent climate and energy solutions, to develop a cutting-edge manufacturing and research and development (R&D) facility in the kingdom aimed at decarbonising emissions in buildings, and dramatically increasing their energy efficiency. The duo will deliver advanced heating, ventilation and air conditioning (HVAC) solutions which includes high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like VRF (Variable Refrigerant Flow), chillers, and Air Handling Units (AHUs). Through these tieups, Alat aims to deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing.

21 February, 2024

Agreements signed to develop residential units in Saudi Arabia

National Housing Co. (NHC) signed six agreements with real estate developers at a total value of more than SAR 2 billion to develop and build over 3,800 residential units. The agreements were signed on the sidelines of the Restatex Riyadh Real Estate Exhibition, in partnership with real estate companies such as Ratal Urban Development Co., Faisal Abdullah Bin Saedan Real Estate Investment and Development Co., Mohammad Al-Habib Real Estate Co., Masaken Real Estate Co., Shugan Construction Co., and Ishraqat Al-Tamaiuz for Real Estate Development Co. NHC launched sales in three projects within Al-Assalah Community. The first project, Nesaj Al Asala, spans a total area of 93,000 square meters (sqm), providing 366 under-construction residential units of the villa type in partnership with Ratal. The second project, Malify Asalah, covers an area exceeding 45,000 sqm, offering 166 under-construction residential units of the villa type, in partnership with Faisal Abdullah Bin Saedan Real Estate. The third project, Ishraqat Al-Assalah, provides 89 villa-type residential units, spanning an area of over 28,000 sqm, in partnership with Ishraqat Al-Tamaiuz.

21 February, 2024

Plans underway to launch specialized day surgery centers in Saudi Arabia

Burjeel Holding PLC plans to launch two new specialized day surgery centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including oncology, advanced gynecology, orthopedics and neurology. The healthcare provider also plans to launch two international affiliated centers in the Kingdom. The two new centers are projected to generate annual revenue of at least SAR 150-200 million once fully ramped up.

21 February, 2024

New top-class logistics park to be built in Saudi Arabia

Arcapita Group Holdings Limited, the global alternative asset manager based in Bahrd , has announced a strategic collaboration with Rikaz, a prominent large-scale real estate developer in Saudi Arabia, for the development of a top-class logistics park - The Node - in capital Riyadh, which is designed to meet the specifications of prominent international and regional tenants. The Node is a 3-million-sq-m development that is poised to become Riyadh's premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sq m that will house 'grade A' warehousing facilities, developed as per global standards by Arcapita and Rikaz for a variety of commercial tenants. Strategically located in eastern Riyadh, the project will have easy access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the kingdom.

21 February, 2024

Expression of Interest invited for highway project in Saudi Arabia

The Roads General Authority (RGA) in collaboration with the National Center for Privatization & PPP (NCP) and Aseer Development Authority, announced the launch of the Expression of Interest (EOI) phase for the Aseer - Jazan highway project. The tender aims to attract best in class road works companies to assure the project delivers the highest level of efficiency, service and traffic safety. The length of the highway is 136 km (3 lanes in each direction) and its spans from Al Farah area in Aseer region to the Red Sea through Jazan region. It consists of 6 intersections, 57 bridges with total lengths 18 km, 11 tunnels with total lengths 9.2 km. The contract type is DBFOM and duration of the contract is 30 years. Interested bidders need to submit the EOI by 19 March, 2024.

20 February, 2024

SAR 26.3M contract inked to establish feed production plant in Saudi Arabia

Balady Poultry Trading Co. (Balady Poultry) signed a contract with China-based FAMSUN Group Co. Ltd. on 19 February, 2024 to establish a feed production plant, which will include three poultry feed production lines, at a total cost of $7 million or SAR 26.3 million. The contract term is 508 days. The new plant will have a capacity of 60 tons per hour, and will consist of corn storage silos in Khamis Mushait, at Wadi bin Hashbel City. The contract aims to enhance the company's self-sufficiency in terms of the production of poultry feed and reduce costs with the continuity of the supply of feed to the company's farms and ensure the quality of feed.

20 February, 2024

JV formed to establish power transformers manufacturing company in Saudi Arabia

Oman-based Voltamp Energy Company, has signed a joint venture (JV) agreement with Saudi-based Al Sharif Holding Group to establish a new company for manufacturing high-voltage power transformers in Saudi Arabia. Voltamp Energy's new JV plant in Saudi Arabia will be established with an investment of RO9.5mn and will manufacture high-voltage 132kV class power transformers.
The construction work for the transformer manufacturing facility began immediately after signing the joint venture agreement. Production is expected to begin at the beginning of 2026. Any developments or other information about this project will be disclosed in the future.

20 February, 2024

New headquarter opening announced in UAE

Mered, an international real estate developer, has announced the opening of its new HQ in the heart of Dubai Internet City. It boasts a design concept by Pininfarina that blends the natural world with the sophistication of the Italian architecture and craftsmanship. The office showcases how the brand is set to redefine the essence of real estate development in the most captivating way. The sales area radiates sophistication and elegance in every detail. From the sculptural counter to the use of natural and artificial lighting that gracefully guides visitors through the space, each feature is meticulously chosen. The lobby, divided by stylish bronze glass partitions, creates a seamless connection with the behind-the-scenes sales area. Pininfarina's influence is evident in every facet of its office, with each element reflecting its values of purity, elegance, and innovation.

19 February, 2024

Cornerstone laid for new logistics centre in Saudi Arabia

National Shipping Company of Saudi Arabia (Bahri) has laid the cornerstone for a new logistics centre at Jeddah Islamic Port. This state-of-the-art facility, which will cover a total area of 95,436 sq m, will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas, handling services, and other value-added services, with the aim of enhancing logistics capabilities and supply chain in the Kingdom of Saudi Arabia, enabling multinational companies to establish their logistics hubs in the Center. The new Jeddah logistics facility will be equipped to store reefer, insulated, and dry containers. It will also provide a wide range of services to its customers, such as container maintenance, repair, and cleaning, bonded storage, and haulage. The facility is expected to be operational in the first half of 2025.

13 February, 2024

Electricity interconnection project to be implemented in Saudi Arabia

Greece's Independent Power Transmission Operator (IPTO) and Saudi Arabia's National Grid SA have signed an agreement to study the implementation of the Greece-Saudi Arabia electricity interconnection project. The two sides agreed to establish a special purpose company 'Saudi Greek Interconnection' for conducting the feasibility study. This project will enable the more effective use of renewable energy, access to sustainable electricity generation and improved security of electricity supplies.

12 February, 2024

110 projects to be launched in between 2024 and 2026 in Saudi Arabia

Saudi Aramco is planning to carry out 110 projects during 2024-2026 as it is pushing ahead with capacity expansions and other development plans. The projects include 67 in oil, gas and petrochemicals, 20 in pipelines and 23 infrastructure projects.

9 February, 2024

New 380kV substation project contract awarded in Saudi Arabia

Larsen & Toubro (L&T), the Power Transmission & Distribution (PT&D) business has won multiple orders in the Middle East. In Saudi Arabia, an order has been received for turnkey construction of a 380kV Substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait and Saudi Arabia. In an ongoing 220kV Power Supply Project in the UAE, an additional order has been secured.

8 February, 2024

$226.6 million land rig contracts awarded in Saudi Arabia

Arabian Drilling Company, Saudi Arabia, announces multiple contracts awards from Aramco for three additional Land Rigs. The contracts' firm terms durations are five years with estimated aggregate contracts value up to eight hundred and fifty (850) Million Saudi Riyals. These 3 contract awards are for additional land rigs assigned to Aramco's Unconventional Program. The three land rigs are to be added to the Company's current land rig fleet of 48 units, representing a land rig fleet increase of 6.25%.

8 February, 2024

Contracts awarded for major power projects in Saudi Arabia

Larsen & Toubro (L&T) has announced that one of its key subsidiaries - Power Transmission & Distribution (PT&D) - has secured large multiple orders - valued in the range of Rs25 billion to Rs50 billion ($301 million to $602 million) - from its prime GCC markets. Its biggest order in the region came from the Kingdom of Saudi Arabia for the turnkey construction of a 380kV substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait as well in the kingdom. In an ongoing 220kV power supply project in the UAE, an additional order has been secured.
The first was an order from the UAE for providing engineering, procurement, construction, installation (EPCI), testing and commissioning services for a 400/132kV substation, while the second one was from Kuwait for an order to establish 400kV overhead transmission lines along with associated 400kV underground cable interconnections. L&T also also bagged another major order from Saudi Arabia to provide turnkey EPC services for setting up renewable energy, power utilities and water systems for Saudi Arabia's ultra-luxury tourism destination, Amaala, in the Red Sea region.

6 February, 2024

250k new hotel rooms planned to be built in Saudi Arabia

Saudi Arabia plans to add 250,000 hotel rooms by 2030, with the private sector signing contracts to build 75,000 of them. The target for 2030 is approximately 550,000 hotel rooms. And approximately 12 resorts on the Red Sea will open within a year and a half.

6 February, 2024

Contract awarded for two water treatment plant development in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announces the awarding of Contract for Operating and maintaining of first water treatment plant in Buraidah and Operating and maintaining of fourth water treatment plant in Riyadh Al-Khubara, awarded by Saline Water Conversion Corporation (SWCC). The value of the contract is SAR 82 million. As part of the contract, the company will perform the works related to Operating and maintaining of these two plants for 24 months.

6 February, 2024

New cycling track project launched in Saudi Arabia

The Sports Boulevard has officially unveiled an immersive cycling experience, Riyde, through a partnership with the global technology company BKool. Visitors will get to experience a virtual 5.24-km route, equivalent to 10-15 minutes of cycling, tailored to different fitness levels. Additionally, they will be able to use virtual reality technology to explore the transformative vision of Riyadh through the completed Sports Boulevard. This collaboration, combining the expertise of a pioneering virtual cycling simulator with the innovative vision of the Sports Boulevard, is aimed at boosting fitness levels in Riyadh.
Riyde will utilise cutting-edge technology to create a virtual cycling experience. Residents will get to ride virtual routes, compete against each other, and enjoy an immersive cycling booth equipped with world-class hardware, thanks to the partnership with BKool. The Riyde booth, operational for an initial two-week period at public locations, provides an indoor, air-conditioned setting for friends, family, and colleagues to socialize, exercise, and compete. The immersive Riyde experience was a fantastic way for the Sports Boulevard to provide residents with cycling facilities and to boost sports participation while we are building Sports Boulevard's city-wide infrastructure. The endeavour includes over 4.4 million sq m of greenery, open spaces, and up to 50 multidisciplinary sports facilities.

30 January, 2024

SAR 48 million contract inked for construction of 4 residential buildings in Saudi Arabia

Retal Urban Development Co. signed a contract worth SAR 48 million, with Building Construction Co., one of its subsidiaries on 28 January 2024. The contract duration is 20 months from the agreement date. The project entails the development of four residential buildings in Al Sadafah district, Al-Khobar.

30 January, 2024

New clean tech research facility to be established in Saudi Arabia

The King Abdulaziz City for Science and Technology and ACWA Power have signed a deal to establish a research center for clean energy and desalination technologies. The research facility will focus on conducting scientific studies in key areas within the clean energy and water sectors. Among its primary objectives are the development of solar energy technologies, developments supporting photovoltaic power stations under harsh climatic conditions, energy storage applications for future energy networks, and innovative materials for desalination membranes. The center aims to leverage artificial intelligence and advanced digital technologies to enhance research outcomes and fulfill its goals. Additionally, the hub is set to bolster ACWA Power's presence in the National Laboratories Complex and Innovation Oases, fostering a culture of collaboration and innovation between the academic community and the business sector.

30 January, 2024

$43.5 million cable contract awarded in Saudi Arabia

Riyadh Cables Group, Saudi Arabia announced that the company entered a supply contract with Larsen & Toubro, where Riyadh Cables Group will be responsible for the Manufacture, Supply and Supervision of a High Voltage Alternating Current (HVAC) cable system totaling 260Km as part of Phase 6 of Mohammed Ben Rashid Solar project (MBR-6). The contract is worth approximately 160 Million AED and it will be delivered by first quarter of 2025. Phase 6 of Mohammed Ben Rashid Solar project (MBR-6) will increase the park’s total renewable energy production capacity to 4,660MW making it one of the largest renewable energy projects in the world.

30 January, 2024

Contract award is expected for water network project in Saudi Arabia

Saudi's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its $150 million Water Network in Hail governorate and Villages (Contract No. 3 and 4) by the second quarter of 2024. The request for qualification (RFQ) for the EPC contract was issued on 15 January 2024 and the bid submission is scheduled on 29 February 2024. The contract is expected to be awarded by early May 2024.
The scope of Contract 3 includes delivery and completion of water services to governorates, centres, and villages of the Hail region, namely Al Shannan Governorate, Al Ajfar Centre, and Faid Centre. The works include water networks with diameters starting from 110mm to 315mm in total and lengths of up to approximately 134km. The scope of Contract 4 includes delivery and completion of water services in the Baqaa Governorate and the Al Hafeer Centre. The works include water networks with diameters starting from 110mm to 200mm with total lengths approximately 168km with associated works. The project, with an estimated value of $150 million, is expected to be completed by the first quarter of 2026.

29 January, 2024

$167.4 million expansion contract awarded in Saudi Arabia

Ladun Investment Co., Saudi Arabia announced that one of its subsidiaries 'Built Industrial Company' has awarded the Contract by Ministry of Municipal Rural Affairs and Housing. The value of the contract is SAR 628.09 million. The project is relatred to Expansion of the current headquarters of the Ministry of Municipal and Rural Affairs and Housing. This expansion is located within the premises of the Ministry's headquarters, located in Riyadh. The project includes all construction and architectural works, electrical and mechanical systems for buildings A and B, and coordination of the general site according to the project documents, including plans, specifications and tables of quantities.

29 January, 2024

New opera house to be established in Saudi Arabia

The Royal Commission for Riyadh City, in cooperation with Diriyah Company, has announced the establishment of the Royal Diriyah Opera House in Diriyah. The Royal Diriyah Opera House embodies the ambitious national aspirations for the Kingdom's capital Riyadh to be a leading global and innovative city in cultural and architectural fields in line with the objectives of Saudi Vision 2030. The project will have a distinguished infrastructure, extend over an area of 45,000 square meters, and will be located near the UNESCO World Heritage Site of At-Turaif in the city of Riyadh. The Royal Diriyah Opera House will be a global platform and will attract talent and leading companies from around the world in the fields of performing arts, music and opera, providing visitors and residents with exceptional cultural and entertainment experiences. The project is part of RCRC's endeavor to enrich the cultural scene in the capital, by providing world-class live entertainment options to the Kingdom's residents and visitors, in line with the objectives of the Saudi Vision 2030.

29 January, 2024

Partnership agreement signed to build indoor karting in Saudi Arabia

Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF) announced a new partnership with Formula E to build the world's first Formula E branded indoor karting attraction across multiple SEVEN entertainment destinations across Saudi Arabia. The announcement was made from the site of the Diriyah E-Prix where the ABB FIA Formula E World Championship double-header of races will take place on the spectacular illuminated race track. The Formula E Karting attractions are set to be built at four of SEVEN entertainment destinations located in Riyadh, Jeddah, Dammam and Abha. Each attraction will offer a diverse selection of adult karts, junior karts, and dual karts, ensuring fun and safe experiences for the entire family. Boasting tracks exceeding 400 meters in length, the Formula E Karting attractions provide extended straightaways for accelerated speed, delivering an unparalleled racing experience for guests.

29 January, 2024

Agreement signed for developing new tech centre for clean energy in Saudi Arabia

Acwa Power, a leading Saudi developer of power and desalination projects, has signed an agreement with King Abdulaziz City for Science and Technology for the establishment of a new clean energy and water desalination technologies development centre within the KACST campus. The new 'Clean Energy and Water Desalination Technologies Development Center' aims to conduct studies and scientific research in vital areas linked to the clean energy and water sector. The key topics of focus include development of solar energy technologies, devices for photovoltaic power plants for extreme climatic conditions as well as energy storage technologies to support future energy networks and innovative technologies and materials for desalination membranes. These are mainly aimed at cutting costs and emissions of desalination processes, as the center will employ artificial intelligence and advanced digital technologies to enable research and achieve goals. The new facility aims to boost the presence of Acwa Power within the complex of national laboratories and innovation oases to contribute to spreading the culture of co-operation and innovation between the academic community and the business sector, and to transfer innovative water desalination technology to various areas of the industrial sector.

25 January, 2024

$400m deal inked to operate a beach resort in Saudi Arabia

Saudi-based Sumou Holding Company has signed a agreement with Spanish hospitality group Melia Hotels International to operate a beach resort within Ajwan mixed-use project in the Eastern Province of Saudi Arabia, being set up at an estimated cost of SAR1.5 billion ($400 million). The initiative, supported by the Saudi Ministry of Tourism, was part of the Real Estate Future Forum activities. The hotel is planned to be established at Ajwan Resort, in the Al Aziziyah area - Half Moon Beach in the Al Khobar city. The agreement represents a significant step towards the development of the Eastern Province as a prominent tourist destination.

25 January, 2024

New housing project comprising 390 villas launched in Saudi Arabia

Saudi Arabia has launched a new housing project that comprises 390 villas and town houses within an ongoing housing drive for citizens. This new project is located in the Western Red Sea port of Jeddah and has an area of around 3.8 million square metres, including a 250-sq-metre green park.

24 January, 2024

Plans underway for $1bn freight line doubling work in Saudi Arabia

Saudi Arabia has given the go-ahead for the doubling of the freight line of North Train network (formerly referred to as the North-South Railway), a 1,550-km-long freight line that extends from the phosphate and bauxite mines in the far north of Saudi Arabia to the Al Baithah junction, at an investment of SR4 billion ($1.07 billion). The project aims to enhance the transportation facilities will strengthen the mining sector in Saudi Arabia.

24 January, 2024

SAR 70.5 Million operation & maintenance water & sewage networks in Saudi Arabia

Alkhorayef Water and Power Technologies Co., announces the awarding of Contract for Operating and maintaining (O&M) water and sewage networks in Taif, Western region of Saudi Arabia. The Project was awarded by National Water Company (NWC). The Value of the contract is SAR 70.5 Million Saudi Riyal. As part of the contract, the company will perform the operation and maintenance works for the water and sewage water networks in Taif.

24 January, 2024

$1.56 billion resort project to be launched in Saudi Arabia

Abu Dhabi-based Eagle Hills plans to launch a resort project in Saudi Arabia in partnership with Public Investment Fund (PIF) at an investment of 6 billion Saudi riyals ($1.56 billion). This new project will be announced in a month, as procedures are being finalised.

23 January, 2024

HVDC converter station to be developed in Saudi Arabia

Alfanar Projects announced in a statement that, Alfanar Projects and the Saudi Authority for Industrial Cities and Technology Zones (MODON) agreed on a strategic agreement to develop an HVDC converter station for Tabuk Industrial City. This collaboration signifies Company's dedication to strengthening and enhancing the Kingdom's grid infrastructure and energy transition.

22 January, 2024

$266m contract awarded for the manufacture and supply of steel pipes in Saudi Arabia

Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth over SAR1 billion ($266.4 million) from Saline Water Conversion Corporation (SWCC) for the manufacture and supply of steel pipes for key projects in the kingdom. Founded in 2010 in Dammam in the kingdom's Eastern Province, East Pipes Integrated Company has now become a major manufacturer of spiral steel pipes. It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide. The entire contract work will be completed within a 30-month period.

22 January, 2024

License obtained for a new luxury hotel development in Saudi Arabia

Makkah-bound worshippers can expect improved accommodations as Jabal Omar Development Co. has obtained a license for the second tower of its five-star hotel. It has received clearance from the Ministry of Tourism to operate the new extension of Jabal Omar Jumeirah hotels in its Makkah project. The new project comprises 244 luxurious, modern-style rooms and suites. Additionally, it features a restaurant, cafe, meeting halls, business center services as well as prayer zones, and a fitness center. The Jabal Omar Jumeirah development consists of four towers, each with 19 floors, directly adjacent to the Holy Mosque.

22 January, 2024

MoU signed to develop tourist destination in Saudi Arabia

Saudi Tourism Investment Co. has partnered with Al-Ahsa municipality to develop a 500,000 sq. meter area, envisioning a vibrant destination with diverse tourism, entertainment, and hospitality offerings. An affiliate of Saudi Arabia's Public Investment Fund, the firm, known as ASFAR, has taken this step to foster economic development and enhance the region's appeal for both local and international visitors. The partnership underscores ASFAR's commitment to sustainable development, economic growth, and preserving the cultural heritage of cities across the Kingdom.

19 January, 2024

New smart city project plan implemented in Saudi Arabia

Smart city initiatives in Saudi Arabia will be boosted following a partnership deal by the King Abdullah Financial District Development and Management Co. and the Saudi Co. for Artificial Intelligence. The collaboration aims to implement a new project to enhance the district's future operations and serve as a model for similar programs in the Kingdom. It will focus on deploying smart traffic and mobility solutions within the district, attracting hundreds of thousands of urban dwellers seeking an optimal blend of living, work, and play. The project includes the integration of a Mobility-as-a-Service platform, which will utilize user transportation patterns to inform future planning.

18 January, 2024

Technical partnership frame agreement signed for chemicals plant project in Saudi Arabia

EV Metals Group (EVM), a global battery chemicals and technology company with offices in Australia, Saudi Arabia and the UK, has signed a technical partnership frame agreement with Finnish mineral processing technology company Metso for its planned Lithium Chemicals Plant (LCP) project in the Kingdom. Metso will provide technical, operational, maintenance, and systems support for the LCP project to be built in Yanbu Industrial City. The LCP project aims to establish the Kingdom as a significant midstream hub for the production of high purity chemicals required by electric vehicle and battery cell manufacturers.

18 January, 2024

Cement production line upgrade contract awarded in Saudi Arabia

Sinoma announced in a statement that it has awarded Yamama Cement Production Line Upgrade Contract. The contract is for a full-scale upgrade of the cement production line, aiming to increase its daily production capacity to 12,500 tons. This project, building upon the relocation of the existing 10,000TPD cement production line, aims to achieve both technological innovation and capacity enhancement. Sinoma Overseas is entrusted with the comprehensive engineering design, procurement and supply of new equipment, civil construction, as well as the installation and commissioning. This venture goes beyond a mere engineering project. It's a testament to Company's innovative capabilities and project management expertise.

18 January, 2024

Contract signed to build district cooling plant in Saudi Arabia

Knowledge Economic City's (KEC) subsidiary, Makarem Almaarifa Hospitality Ltd., and a consortium of three companies - City Cool, Johnson Controls Arabia (JCA), and ADC Energy Systems signed a contract to build a chilled water district cooling plant in Madinah. The consortium's services would be based on a build, own, operate, and transfer (BOOT) model. The contract includes building a plant of 21,000 tons of refrigeration over two phases at Al Madinah Hub area, Multaka Al Madinah, to provide cooling services to the mall, the Hilton tower, and the branded residence tower. Under the contract, JCA will supply YORK Chillers, ADC Energy Systems will perform the engineering, procurement, and construction of the district cooling plant. Additionally, City Cool will perform the operation, maintenance, and facility management for 25 years from the operating date with the aim of sustainability and energy efficiency as part of the alignment with the objectives of KEC.

17 January, 2024

Worlds largest industrial solar thermal project announced in Saudi Arabia

Saudi Arabian Mining Company (Ma'aden) and US-based industrial solar steam company GlassPoint announced the first phase of project development for the world's largest industrial solar thermal project in Ras al Khair to decarbonise Ma'aden's aluminium supply chain. The first stage, called The Technology Showcase, will combine direct generation of heat and storage to supply 9 tonnes per hour of continuous base load of steam to Ma'aden's Alumina refinery at Ras al Khair. The initial capacity represents about 1 percent of the larger project, which is slated to save more than 12M MMBTUs of energy annually and reduce carbon emissions by 600,000 tonnes per year.

17 January, 2024

Bids expected to be issued for training centres in Saudi Arabia

The Saudi Authority for Industrial Cities and Technology Zones (MODON) and the Ministry of Industry and Mineral Resources are expected to issue a design-build-operate-manage (DBOM) tender for training centres in different industrial cities around the kingdom in the first quarter. The tender is expected to be announced by the end of March 2024 with completion expected by end of second quarter of 2024. The project covers six training centres in different industrial cities to train around 126,000 workers by 2030. The project is slated for completion by the fourth quarter of 2027.

16 January, 2024

First open RAN facility will be established in Saudi Arabia

Aramco Digital, a unit of Saudi oil giant Aramco, has joined hands with Intel to establish Saudi Arabia's inaugural Open RAN (Radio Access Network) Development Center. The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the kingdom. The collaborative effort aims to accelerate the development and deployment of Open RAN technologies, helping to enable the kingdom to build robust and agile telecommunication infrastructure focused on accelerating digitization across industries. This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification. Open RAN, an evolving paradigm in wireless network architecture, allows for greater flexibility, interoperability and innovation.
It brings a deep understanding of the development needs and ambitions of the Kingdom and the opportunities for Open RAN technology deployment, along with a unique perspective of the country's economic landscape. Intel, a pioneer in computing and communication technologies, brings its expertise in Open RAN technologies to the collaboration.
Highlights of the collaboration are:
- Innovation Hub: The Open RAN Development Center aims to serve as an innovation hub, fostering collaboration between Aramco Digital and Intel engineers, researchers and industry experts.
- Local Talent Development: The Center aims to contribute to the development of local talent by providing training and hands-on experience in the rapidly evolving field of Open RAN and Edge computing technology.
- Economic Impact: The collaboration aims to contribute to the local economy through technology-driven initiatives, aligning with the broader objectives of Vision 2030.
- Global Collaboration: The collaboration on Open RAN between Aramco Digital and Intel is expected to extend beyond borders, connecting Saudi Arabia to the global landscape of Open RAN and Edge development and deployment
The Open RAN Development Center is planned to commence operations in 2024, marking a milestone in Saudi Arabia's journey towards a technology-driven future.

16 January, 2024

Contracts awarded for operation & maintenance of water and sewage networks in Saudi Arabia

Alkhorayef Water and Power Technologies Company has secured contracts worth a total SAR215 million ($57.2 million) from the National Water Company for the operation and maintenance of water and sewage networks in Makkah and Dammam cities. As per the SAR102.2 million deal, Alkhorayef will provide the O&M services for water and sewage networks in Makkah city for a five-year period. For Dammam city, the NWC had awarded a three-year waste water maintenance contract to Alkhorayef worth SAR112.6 million.

15 January, 2024

SAR 348.5M contract awarded for implementation of architectural and mechanical works in Saudi Arabia

Ladun Investment Co.'s subsidiary, Built Industrial Co., was awarded a SAR 348.5 million contract (VAT inclusive) by Presidency of State Security to implement architectural, electrical and mechanical works for a building at the Naif Security Complex in Riyadh. The project includes the supply and implementation of architectural, mechanical, electrical and systems works, in accordance with competition drawings and documents.

15 January, 2024

Agreement signed for establishing chemical plant in Saudi Arabia

Saudi Chemical Co. has signed a deal to establish a first-of-its-kind production facility for ammonium nitrate and nitric acid in Ras Al Khair. This partnership with Dyno Nobel, through its subsidiary Saudi Chemical Co., aims to support vital sectors and strategic projects aligned with the Kingdom's Vision 2030. This involves localizing the production of raw materials necessary for manufacturing civil and military explosives to develop solutions for the defense and mining industries in Saudi Arabia.

12 January, 2024

Agreement signed to develop phosphogypsum recycling and CO2 capturing complex in Saudi Arabia

Saudi mining and metals giant Ma'aden announced has signed a frame agreement with Finland's Metso and Germany's thyssenkrupp Uhde to develop phosphogypsum recycling and CO2 capturing complex in Ras Al Khair, Saudi Arabia. The agreement will enable the deployment of Ma'aden's patented concept (also recognised by the United States Patent and Trademark Office) to reduce carbon emissions across the company's phosphate business and recycle phosphogypsum into a useful resource. The concept addresses two of the most pressing environmental challenges facing the phosphate industry – the decarbonisation of polluting CO2 and the effective utilisation of phosphogypsum, a by-product of phosphate production often left in large quantities. Metso said the tripartite frame agreement involves the development and licensing of a phosphogypsum processing solution for the calcination plant at Ras Al Khair. The plant will use sulphur for the calcination of phosphogypsum and include technologies for CO2 capturing with lime produced from the calcination.

12 January, 2024

Agreement signed for carbon-negative concrete facility construction in Saudi Arabia

Saudi Arabia's premier real estate developer Roshn has entered into a partnership agreement with Partanna Arabia, a Riyadh-based climate technology company, for joint collaboration on the potential construction of a state-of-the-art carbon-negative concrete production facility. The facility is planned to initially deliver carbon-negative pavers, and has the potential to produce blocks, tile, precast and pour-in-place solutions over time. This will help the client with its mission to build over 400,000 homes, 1,000 kindergartens and schools and more than 700 mosques by 2030. The facility is expected to support over 100 jobs and lay the foundations for the Kingdom's ambitious construction pipeline. Partanna's technology is poised to make a monumental environmental impact that will bolster Roshn's commitment to conserving natural resources and reducing waste. Its technology converts waste brine, generated by desalination plants, into a non-toxic, usable material, diverting vast quantities from reaching waterways, and causing damage to marine ecosystems. The new facility will also help to realize the Kingdom's Vision 2030 sustainability ambitions, including Saudi’s commitment to achieving Net Zero by 2060.

11 January, 2024

Agreement signed for development, engineering and licensing of chemical plant in Saudi Arabia

thyssenkrupp Uhde has signed a master agreement with Ma'aden (Saudi Arabian Mining Company) for the development, engineering and licensing of a calcination plant for phosphogypsum processing. The purpose of the proposed plant, to be located at Ma'aden's Ras al Khair site in Saudi Arabia, will be to recycle phosphogypsum and enable the capture of CO2 emissions. The joint research and development will be carried out together with thyssenkrupp Polysius and Metso Outotec. With the ambitious project, the complany will contribute significantly to the Saudi Green Initiative and create lasting impact in line with the Kingdom's Vision 2030.

9 January, 2024

Mega project development plan unveiled in Saudi Arabia

Saudi-based Adel Real Estate has unveiled the blueprints for its mega project - Adel District - at Dammam in the kingdom's Eastern Province. Spanning 5.6 million sq m, the plot-based urban development will boast over 5 residential neighborhoods that can accommodate 50,000 people. This project has a full range of facilities, which include residential buildings, office spaces, mosques, shopping malls and retail centers, health centers, educational and recreational facilities, as well as creativity and innovation incubators and green spaces. A key feature of this project will be 'West Boulevard', providing investors with the means to build business communities. This space will be the district's cornerstone, and will support the growth of its markets, shopping centers, restaurants, and cafes. Located west of Dammam City, this district sits along King Fahd Road (Airport Road), between King Saud Road and Riyadh Road, close to some of the most pulsing highways that connect to the city's most famous landmarks. Slated to become the next destination for housing and investment, this project offers convenient access to essential service centers and amenities.

4 January, 2024

$145 million projects in industrial cities unveiled in Saudi Arabia

The Saudi Authority for Industrial Cities and Technology Zones (Modon) has unveiled plans for 10 new development projects across six industrial cities, collectively valued at over SAR538 million ($145 million). These projects, to be carried out in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content. This initiative aligns with Modon's steadfast commitment to crafting an exemplary investment environment that aligns with investor expectations within the industrial sector. It forms a crucial part of their mission to empower the private sector in diversifying income sources, as outlined in the National Industrial Strategy and the National Industrial Development and Logistics Program (NDLP). Modon has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities, along with the Modon Oasis in Al-Ahsa. These spaces, spanning 350 and 450 sqm, aim to provide solutions that facilitate business operations, empowering entrepreneurs and SME owners to augment their contributions to the GDP in line with Saudi Vision 2030 objectives. Three contracts have been finalised for constructing advanced infrastructure, covering an area exceeding 5.7 million sq m in the eastern expansion of the Hail Industrial City and Al Madina Al Munawwara Industrial City. These efforts are geared towards sustaining production processes and meeting the quality industry standards within these industrial hubs. Contracts for the implementation of medium and low voltage networks in Taif Industrial City and the establishment of a conversion plant in the Tabuk Industrial City further solidify efforts to bolster operational efficiency and production capacity. There will be improvement of connectivity by signing an additional road contract linking the Dammam Third Industrial City and the King Salman Energy Park (Spark), aiming for seamless integration and leveraging Spark's logistical services and upcoming dry port.

3 January, 2024

Bids invited for independent power plant projects in Saudi Arabia

The Saudi Power Procurement Company (SPPC) has announced the launch of four Independent Power Plant Projects for bidding with a total capacity of 7,200 MW. The company indicated that the four projects are distributed across two power plants in the central region (Rumah1 & Rumah2), and two in the eastern region (Nairyah1 & Nairyah2), with a capacity of 1800 MW per plant, all of which operate using natural gas combined cycle technology with provision for carbon capture unit readiness.
These projects come in alignment with the Saudi Green Initiative, and its ambition to achieve greenhouse gases (GHGs) net-zero through the circular carbon economy approach by 2060, or before depending on technology maturity and availability and count as a part of the Saudi energy sector’s endeavors to achieve the Saudi Vision 2030 goals pertaining to improving generation efficiency and reducing costs through diversifying energy production sources, thus reaching the optimal energy mix for electricity production and reducing the amount of liquid fuel used by the country’s electricity production sector, in order to achieve the optimal energy mix for electricity production in the Kingdom from renewable energy and gas at a 50% for each of them. Interested Bidders need to submit their confirmation, latest by 05 January 2024, 16.00.

29 December, 2023

Agreement signed to development and modernisation of gypsum plant in Saudi Arabia

Saudi-based National Gypsum Company has signed an agreement with China's LVJOE Machinery Manufacturing Group for the development and modernisation of its production line at Riyadh factory. As per the SAR30 million ($8 million) agreement, the LVJOE Machinery Manufacturing will complete the upgradion work within nine months. On completion, the plant will boast the latest technical advancements and a production capacity of 15 million sq m gypsum per annum.

28 December, 2023

SAR 30 million contract awarded for gypsum board production line in Saudi Arabia

National Gypsum Co. signed on a SAR 30 million contract to develop and modernize a gypsum board production line in the Riyadh factory. The company aims to keep pace with the latest technical advancements and production of up to 15 million square meters of gypsum annually. The contract is valid for nine months.

27 December, 2023

Construction work resumed on a development in Saudi Arabia

Al Wasail Industrial Co. announced the resumption of works on Al Yarmouk plan development project in Buraydah. The company pointed out that 70% of the project has already been accomplished. The project is expected to be completed on March 31, 2024, indicating that the delay is attributed due to the municipality's modification in the plan designs from CAMBER to V.

27 December, 2023

Plans unveiled for a multi-purpose project in Saudi Arabia

Liwan Real Estate Development Company has unveiled the new identity of its upcoming multi-purpose project Livein Liwan, located northwest of the capital city Riyadh, specifically in the Al Mohammadia neighborhood. This neighborhood is situated on King Abdullah Road and lies between King Fahd Road and Al Takhasosi Street. The identity emphasizes the importance of the quality of life in the real estate sector. The name Livein Liwan was chosen to reflect a desire to live in a lively, integrated place. The Arabic font was carefully selected to convey the pride of the Arabic identity while also blending with the modernity of the French style. The colors were chosen to give it a higher level of beauty with gradual shades of warm colors, symbolizing a peaceful life, and lively colors that pop with vigor and healthy living. The visual identity of the project, represented by triangles, symbolizes the old Najdi construction and solidifies the Salmani style as they blend with the modern style. The complete definition of Livein Liwan is indicative of the Liwanic life. As is widely known, the Liwan is a building that is closed on three sides and open on one side. As such, It reflects life within three Liwans.
The first Liwan in the letter (U) is the commercial area, namely the strip mall where the commercial stores, restaurants, and cafes thrive. It is considered a very lively area.
The second Liwan is embodied in building number 5, which is in the shape of (U) as well. The pool and gyms are found in its center (an area for families and youth).
Finally, the third Liwan is located in buildings number 4 and 6, where the mosque and parks are found in a Liwan of spiritual serenity that celebrates the elderly who enjoy spending their time there.
This project represents an active point where residential areas meet with commercial galleries and office spaces, woven with green open spaces. Equipped with complete services and facilities such as gyms, closed and open swimming pools, a multi-purpose hall, Padel games, and children's games. On top of that, the project introduces an open strip mall 230 meters in length with a view of King Abdullah Road, featuring a boulevard and outdoor seating, restaurants, and cafes. All to give visitors and residents a unique experience and enjoyment within the details of the project.

27 December, 2023

Foundation stone laid for an integrated logistics zone in Saudi Arabia

King Abdulaziz Port in Dammam will soon get an integrated logistics zone, as the Saudi Ports Authority and MEDLOG have laid the foundation stone for the project. The port authority, known as Mawani and MEDLOG, the logistics arm of the Mediterranean Shipping Co. will see the integrated logistics zone being built with an investment value exceeding SR150 million ($40.01 million). It will be built in an area of over 100,000 sq. meters, with a capacity of handling 300,000 containers per year. Due to its proximity to Jubail Industrial City and major urban centers in the Eastern Province, the logistics facility is expected to meet the requirements of the local market in terms of transporting and handling goods.

26 December, 2023

SAR 4.7M contract signed for rehabilitation work on a tower in Saudi Arabia

Waja Co. signed a contract worth SAR 4.697 million (VAT inclusive) with Water Transportation and Technology Co. (WTTCO) for the rehabilitation and furnishing work for the company's headquarters on the 34th floor of Olaya Towers. The contract term is of three months.

26 December, 2023

Plans unveiled to establish 8 new driving schools in Saudi Arabia

The General Department of Traffic unveiled plans to establish eight new driving schools in various regions and governorates across the Kingdom. These include two schools in Riyadh, and one each in Jeddah, Al-Khafji, Dammam, Jazan, Al-Hanakiyah in the Madinah region and Qunfudah in the Makkah region. The Traffic Department called on companies and establishments that wish to implement driving school project to communicate with the department to be provided with the terms and conditions for the project, and to submit their tenders within a month from the date of the announcement. The Absher platform allows the online booking for getting admission to driving schools. The applicants shall enter the platform, click on the icon of appointments, choose traffic, and then appointments, and fill up other required details.

26 December, 2023

$799mln road network projects underway in Saudi Arabia

The Eastern Region's road network of Saudi Arabia is currently bustling with significant activity, boasting 42 ongoing projects, 17 new initiatives and 25 major maintenance endeavors. Spanning over 1,450 km, these projects which are being implemented at a total cost of more than SAR3 billion ($799 million), signify a substantial investment in the region's infrastructure. This surge in development aligns with the area's pivotal role, given its strategic geographical positioning that connects the kingdom with all Gulf countries. The General Authority for Roads emphasized its commitment to these projects, highlighting the ongoing construction of a 720-m sea bridge. This bridge aims to bolster connectivity within the region's road networks and elevate road safety measures.

26 December, 2023

$26.6m development plans underway for an international airport in Saudi Arabia

King Fahd International Airport in Dammam is poised for a significant development as SAL Saudi Logistics Services has committed to a investments worth SR100 million ($26.6 million). The funding is directed toward the rehabilitation and enhancement of the airport's air cargo building, a strategic move anticipated to significantly improve operational capabilities and enhance the customer service experience. Under the agreement, Client will increase the air cargo facility's capacity and equip it with the latest technologies and equipment in line with global best practices, aimed at boosting efficiency and improving customer service. This development is part of a 20-year strategic partnership agreement signed between SAL and Dammam Airports Co., initially agreed upon in March 2022. This agreement is expected to not only enhance air cargo services at Saudi airports but also contribute to the Kingdom's vision of becoming a global logistics hub, thereby supporting economic growth in line with Saudi Vision 2030. This initiative is part of the broader National Transport and Logistics Strategy and National Aviation Strategy that aims to elevate Saudi airports' services, transform the Kingdom into a world-class logistics center, and sustain the development of the logistics sector by integrating advanced global technologies.

22 December, 2023

Agreement signed to establish date factory in Saudi Arabia

A dedicated date factory will be established after Al-Madinah Heritage Co., the business set up by the Public Investment Fund, signed an agreement with the Saudi Authority for Industrial Cities and Technology Zones to acquire land in Madinah. The agreement would kickstart the company's scheme for an integrated date factory in Madinah. Work would begin three months after plans and specifications had been set in accordance with the latest global technologies.

22 December, 2023

Tender to be expected to release for a highway project in Saudi Arabia

Saudi Arabia's Ministry of Transport and Logistic Services is expected to release the tender for the Design-Build-Finance-Operate-Maintain (DBFOM) contract for Asir - Jazan Highway project in the first quarter 2024. The DBFOM tender is expected to be announced in January 2024. The operation and maintenance (O&M) period is expected to be 25 years plus 5 years. Asir - Jazan Highway forms part of four highway projects scheduled to be tendered under the Public-Private Partnership (PPP) model as part of a pipeline of 200 privatisation and PPP projects across 17 sectors.
The scope of the work involves the construction of a highway, which will connect Asir and Jizan with a length of 136 km. The overall project completion and commissioning scheduled for the fourth quarter 2027, estimate of the project cost is $150 million.

20 December, 2023

Plans announced for new research & development facility in Saudi Arabia

Eviq has announced plans to open a research and development (R&D) facility in Riyadh that is a first-of-its-kind in the region. A joint venture between Saudi sovereign wealth fund PIF (Public Investment Fund) and Saudi Electricity Company (SEC), the new facility will be used for testing a spectrum of chargers and software, mainly to ensure the deployment of best-in-class equipment and related software, thus reinforcing its commitment to quality, efficiency, and driving the evolution in the EV sector across the Kingdom of Saudi Arabia.
It will also give EV drivers in Saudi Arabia the confidence that EVIQ chargers have been thoroughly tested to the highest quality and safety standards for operating in Saudi Arabia. This facility is a cornerstone in our strategy to support the Kingdom's Vision 2030. The new R&D facility plays a crucial role in its mission to deliver the highest quality EV charging solutions by thoroughly testing various types of chargers. The facility is not just a testament to Eviq's commitment to innovation, but also a significant step toward enhancing charger efficiency, reliability and compatibility, it serves as a hub for developing the expertise and knowledge in charger technology that will support the evolving needs of the electric vehicle market in Saudi Arabia.

20 December, 2023

$28mln operation & maintenance contracts awarded for sewage and water network in Saudi Arabia

Saudi-listed Alkhorayef Water and Power Technologies Company has signed two operations and maintenance (O&M) contracts worth 104.93 million Saudi riyals ($27.97 million) with the state-owned National Water Company (NWC). The 36-month contract valued at SAR40.74 will cover full O&M for the sewage and water network in the Hail region for 36 months. Another 36-month contract, valued at SAR64.19 million, was signed for dull O&M of water projects in the Jazan region.

20 December, 2023

Tender to be issued for highway project in Saudi Arabia

Saudi Arabia's Ministry of Transport and Logistics Services is expected to release the tender for its Yanbu - Jubail Highway project in the first quarter 2024. The project will be procured as Build-Operate-Transfer (BOT) contract. The tender for the construction contract is expected to be announced by end of first quarter 2024. The operated and maintenance period is expected to be 26 plus four years. The overall project completion and commissioning scheduled for the first quarter 2028, estimate of the project cost is $300 million.

18 December, 2023

$17m deal signed for water projects in Saudi Arabia

As part of Saudi Arabia's efforts to ensure water security across the country, the sovereign wealth fund has signed a deal worth SR64.19 million ($17.02 million) for projects in the cities and villages of the Jazan region. The Public Investment Fund signed the deal with Alkhorayef Water and Power Technologies Co., which will operate and maintain water projects in the region for 36 months. This move falls in line with AWTP's mission to develop, deliver, and manage water, environmental, and energy solutions focused on sustainability, innovation, and excellence to exceed stakeholders' expectations. Under the deal, the company will design, rehabilitate, test, and maintain four sewage plants in Heet and Al-Hayer, with a combined treatment capacity of 780,000 cubic meters daily.

14 December, 2023

Agreement signed to install solar panels in Saudi Arabia

Cenomi Centres, a leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, will install solar PV panels across its sites reducing its Scope 2 emissions drastically. For this the Centre has executed a Portfolio Development Agreement with a consortium formed by FAS Energy and Marubeni Corporation. The parties will initially deploy solar PV panels for a period of 20 years on the roofs and carports of 13 selected Cenomi Centres' assets and may extend to the installation of related EV charging infrastructure, subject to all regulatory approval and permit applicable in Saudi Arabia. The initial deployment is expected to accommodate a total capacity of approximately 52MWp and generate 93 GWh per year. The plans demonstrate Cenomi Centres' commitment to support Saudi Arabia in its Vision 2030 ambitions to be Net Zero by 2060. At full deployment, it is expected that 15% of Cenomi Centres' annual electricity consumption will come from 100% renewable sources. The installations will result in the reduction of 53,000 tonnes of CO2 emissions per year, which is equivalent to 870,000 trees grown for 10 years. This Agreement with FAS Energy and Marubeni Corporation supports Cenomi Centres in delivering on its ambitions to create and maintain a sustainable business model that offers a positive, lasting impact on the communities in which it operates. The installations will be rolled out in phases, beginning with Cenomi Centres' sites in Riyadh in early 2024, before moving on to other shopping centres across the kingdom. All sites are expected to be completed and in operation by 2025. The Agreement is based on a 'design, finance, build, own and operate' model - without upfront capital investments or any operational burdens to Cenomi Centres.

13 December, 2023

$6.13mln design and engineering contract awarded in Saudi Arabia

Rawasi Albina Investment Company has won a project award with Saudi Electricity Company on 11 December 2023. The total value of the project stands at SAR 22.98 million. Rawasi Albina will be responsible for the design, engineering, procurement, supply, and delivery of all equipment and materials to the work site for SEC project. The investment company will also provide construction, installment, testing, commissioning, and putting into service the following reinforcement of New Zallum Village 33/13.8 kilovolt (KV).

11 December, 2023

Bids to be issued soon for medical laboratories project in Saudi Arabia

Saudi Arabia's Ministry of Health is expected to launch tenders to build and operate medical laboratories in Riyadh and Jeddah under public-private partnership (PPP) model by the first quarter of 2024. The prequalification documents for the main construction contracts are expected to be announced in the early March 2024. The scope of work involves the developing, installing, and operating laboratory equipment and services in Riyadh and Jeddah. The contract type will be announced by early March 2024 while its duration will be for 15 years.

11 December, 2023

Bids to be issued soon for primary healthcare centres project in Saudi Arabia

Saudi Arabia's Ministry of Health is expected to launch tenders to build and operate primary healthcare centres across multiple health clusters in Riyadh, Eastern, and Western regions by the first quarter of 2024. The prequalification documents for the DBFOM [Design-Build-Finance-Operate-Maintain] contracts. contracts are expected to be announced in the mid of first quarter of 2024. The scope of work involves build, refurbish, operate (non-clinical), and maintain 74 primary healthcare centres across multiple health clusters in Riyadh, Eastern, and Western regions. The DBFOM contracts will have a duration of 22.5 years.

11 December, 2023

Bids to be issued soon for hospital project in Saudi Arabia

The Saudi Ministry of Health is expected to release the tender for procuring a new maternity and children's hospital project in Al-Yamamah, Riyadh under the Public-Private Partnership (PPP) model by first quarter of 2024. The tender for the Design-Build-Finance-Operate-Maintain (DBFOM) contract is expected to be release by January 2024 and the contract is expected to be awarded by mid-second quarter 2024. The scope involves the construction of a hospital with 500 beds. According to details provided by the National Centre for Privatisation & PPP (NCP), the project will be tendered under 20-year-plus Design-Build-Finance-Operate-Maintain (DBFOM) contracts. The project is slated for completion in second quarter 2026. The estimate of the project cost is $150 million.

11 December, 2023

$153.3m construction contract signed for to develop industrial complex in Saudi Arabia

Zamil Steel Construction Company has signed a contract with SAMI LAND Services for the construction of an industrial complex that will develop, design, and manufacture land defense systems in Al-Kharj, Saudi Arabia. The value of the contract is SAR 574,885,000. The scope includes performing all required work for the construction of the manufacturing facilities, utility buildings, admin offices, and external areas, and includes structural, civil, finishing, and MEP works. The company will supply its HVAC products and services, insulated panels, steel structures, and insulation materials. The duration of the contract is 16 months.

6 December, 2023

$62.3m Contracts awarded in Saudi Arabia

Saudi Arabian Amiantit Co. and Saudi Industrial Services Co. (SISCO) joint venture International Water Distribution Co. (Tawzea) announced the signing of two projects by the National Water Co. (NWC). The first contract is related to Operation and maintenance of the water network in Makkah and its governorates. The value of the contract is SAR 199,476,500. The duration of the contract is 60 months. The Second Contract is related to Operation and maintenance of the wastewater treatment plants in the cities of Dammam and Khobar. The value of the contract is SAR34,494,400. The duration of the contract is 18 months.

4 December, 2023

$42m contract awarded for the manufacture and supply of steel pipes in Saudi Arabia

Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth SAR153 million ($42 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom. The entire contract work will be completed within an 8-month period. The financial impact of the contract will be reflected in the first two quarters of FY 2024/2025.

29 November, 2023

$34.8m contract signed for waste heat recovery project in Saudi Arabia

Riyadh Cement Company has signed a contract for the Waste Heat Recovery Project with Sinoma Energy Conservation Ltd. The value of the contract is $34.8 million. The Project is related to Establishing power generation plant from waste heat with a production capacity of 12.64 MW. The duration of the contract is 20 months.

28 November, 2023

Plans announced to launch first branded villas in Saudi Arabia

Dar Al Arkan, the leading real estate company in Saudi Arabia, has announced the launch of Etoile by Elie Saab, paving the way for the renowned designer's first branded residence in the kingdom. For the first time in Saudi Arabia, the iconic flair and elegance of Elie Saab can be found in Etoile at Sedra, the first integrated community of its kind in Riyadh. A sanctuary of opulence and tranquillity, Etoile by Elie Saab features homes that emanate luxury, while engraved in tradition. It entails an assortment of three-and four-bedroom villas with the very unique Wadi Villas offering uninterrupted views of the immersive wadis. The monolithic structures with their window boxes done up in ancestral textures and hues, straddle a cosmopolitan lifestyle amidst a serene community. It is signature couture living at its best with warm wood finishes, cool flawless marble and a luxe cream palette offering an atmosphere of pure splendour. From bedrooms boasting spacious walk-in closets and en-suite bathrooms providing the perfect setting to unwind, rejuvenate, and reconnect with the beauty of nature, the design elements of the development seamlessly marry practicality with regal aesthetics. Etoile by Elie Saab offers a truly luxurious experience for those seeking peace and sanctuary in the midst of a bustling environment. The project combines modern and aspirational living with the unique heritage and history of Saudi Arabia with Salmani architecture at its heart. Located north of Riyadh, the world-class community is strategically situated close to the city's prominent destinations with easy access to the main roads. Vast green spaces, parks, sports facilities, community centres, hitech education and medical centres ensure the self-contained community offers a holistic lifestyle to all residents.

28 November, 2023

$23mln O&M contract inked for sewage network in Saudi Arabia

Alkhorayef Water and Power Technologies Co. (AWPT) has bagged an 87.18 million Saudi riyal ($23.24 million) operation and maintenance (O&M) contract water and sewage networks in the Buraidah region of Saudi Arabia. The contract term is 36 months.

28 November, 2023

Construction underway for 300000 new houses in Saudi Arabia

Saudi Arabia has approved the construction of nearly 300,000 houses as part of an ongoing programme to allow most citizens to own property. Nearly 80,000-90,000 units would be completed in 2024 and the rest would be ready by the end of 2025. Work on the projects is already under way. Around 50,000 houses have been constructed and are ready to be distributed.

23 November, 2023

Deal signed to built residential projects in Saudi Arabia

Saudi-based Retal Urban Development Company has reached an agreement with the National Housing Company (NHC) to jointly develop more than 1,100 residential units in the prime cities of Riyadh and Jeddah at a total investment of SAR925 million ($246.4 million). Under this deal, the duo will develop 366 residences in Zones 1 and 2 of Al Shafa Residential Land located in Riyadh at an estimated cost of SAR290 million. The project, which will come up over a 133,934 sq m area in the Saudi capital, is likely to be completed in 2027.  On the South Jeddah project, it will build 803 residential units in the Saudi port city at an estimated cost of SAR635 million. The Jeddah project, which will come up over a 209,483 sq m area, will also be completed in 2027. Both the projects will be funded through self financing, off-plan sales and available facilities. The projects are expected to have a positive impact on the company's results post the start of sale and the project execution.

21 November, 2023

Letter of intent received for a mega offshore project in Saudi Arabia

The Hydrocarbon business (L&T Energy Hydrocarbon – LTEH) of Larsen & Toubro (L&T) has received a Letter of Intent for mega Offshore order from a prestigious client in the Middle East. The scope of work comprises engineering, procurement, construction and installation of a new large offshore platform and brownfield work of integration with existing facilities.

20 November, 2023

Agreement signed to establish logistics park in Saudi Arabia

Saudi Logistics Services (SAL) has signed a contract with Saudi Ports Authority (Mawani) to establish a logistics park at Jeddah Islamic Port, to build a logistics park at Jeddah port on a total area of 54,000 sq m as part of its efforts to enhance the kingdom's sea and air connectivity. This agreement is aligned with SAL's vision in becoming the logistics champion for a globally connected Saudi Arabia as well as the company's strategy to expand its offerings across the logistics sector. 
With cargo handling and logistics solutions, this new facility will help SAL penetrate the fulfillment industry at large cementing its role as the National Logistics Champion. This also comes as part of Mawani's efforts to achieve its strategic objectives by offering investment opportunities for the private sector, and developing sustainable capacities that suit the needs of partners; and raising level of local and regional transport, distribution and storage operations; and increasing the number of logistics service centers for re-export to 30 centers by 2030, in line with the targets of Saudi National Strategy for Transport and Logistics Services reinforcing the Kingdom's position as a global logistics center, and a hub connecting three continents.

17 November, 2023

MoU signed to develop hydrogen fueling stations for trains in Saudi Arabia

Air Products Qudra and Saudi Arabia Railways (SAR) have signed of a Memorandum of Understanding (MoU) to collaborate on opportunities to build, own and operate (BOO) hydrogen fueling stations for trains in Saudi Arabia in support of Saudi Green Initiative and Vision 2030. The MoU establishes an framework for future collaboration between the parties, whereby Air Products Qudra would build multiple hydrogen train fueling stations on a BOO basis for SAR along established Riyadh - Al Kharj; DammamJubail; and Ras Al KhairJubail, train routes. Hydrogen is essential to the energy transition and is playing a crucial role in creating low carbon, sustainable transportation.

17 November, 2023

$1.3bn contract awarded for fabrication and installation of jackets in Saudi Arabia

Abu Dhabi-based National Marine Dredging Company has announced that its key unit National Petroleum Construction Company (NPCC) has secured a $1.3 billion contract from Saudi oil giant Aramco for two key projects as part of the Arab Medium (AM) facilities upgrade scheme. The project scope includes fabrication and installation of 11 slipover production decks modules and nine structural jackets in addition to installation of eight subsea pipelines with approximate length of 23 km. The order also includes 22 units of 15 kV subsea cables with a total length of 115 km.

17 November, 2023

$72.8m contract awarded for construction of prefabricated buildings in Saudi Arabia

Ladun Investment Co., Saudi Arabia announced that one of its subsidiaries 'Built Industrial Company' has awarded two Projects with Jazan City for Basic and Downstream Industries - Royal Commission for Jubail & Yanbu. The first contract is related to construction of prefabricated buildings for industries. The value of the contract is SAR 169.5 million.

16 November, 2023

Ground broken for logistics park in Saudi Arabia

Saudi Ports Authority (MAWANI) and CMA CGM Group have broken ground on a 487 million Saudi riyals ($129.85 million) integrated logistics park in Jeddah Islamic Port. The new logistics zone will span over 130,000 square metres. Construction and infrastructure work start in the first quarter of 2025. The logistics park includes an integrated export centre, smart warehouses, cold storage services, and multimodal transportation services.

16 November, 2023

Contract signed for 110kV cable project in Saudi Arabia

Elsewedy Electric KSA has signed a contract with the Saudi Electricity Company (SEC) for a new turnkey underground cabling project - The interconnection of the new 110/13.8kV substation (Qandeel BSP) with the 110kV network in Makkah. This project is part of the reinforcement program for big cities, covering a route length of 8km x 2, supplying 48km of 110kV HV cables. The project's duration is 16 months, with a total value of SR 58,862,480 and its scope of work includes the design, supply, installation, testing, and commissioning of two 110kV underground cable circuits, along with all other necessary accessories along the proposed route.

15 November, 2023

MOU signed to provide expertise on development projects in Saudi Arabia

At the Dubai Airshow, NERA, a subsidiary of Saudi Air Navigation Services (SANS), has signed a Memorandum of Understanding (MoU) with the international engineering firm, Egis. Egis will provide specialized expertise and know-how in Air Traffic Management (ATM), airport development, design, operation, and maintenance in the Middle East as well as around the world. Following the signing of the MoU, Egis and NERA will work together to develop a list of projects on which they may collaborate.

13 November, 2023

RFQ Proposals invited for fifth round of solar projects in Saudi Arabia

The Saudi Power Procurement Company (SPPC) has released request for qualification (RFQ) for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy. The combined capacity of Round 5 projects is approximately 3700 MW; the projects are as follows:
- The (2000) MWac Al Sadawi IPP to be located in the Eastern province, KSA.
- The (1000) MWac Al Masa'a IPP to be located in the Hail province, KSA.
- The (400) MWac Al Henakiyah 2 IPP to be located in Madinah province, KSA.
- The (300) MWac Rabigh 2 IPP to be located in the Makkah Province, KSA.
These projects are part of NREP, which aims to achieve the optimal energy mix, displacing liquid fuels in the Kingdom's power sector and supply 50% of its electricity from renewable energy by 2030. SPPC is responsible for the predevelopment, tendering, and subsequently offtaking the Energy from the projects. To date, SPPC has awarded over 12.6 GW of renewable energy capacity under NREP. Bidders needs to respond RFQ by 05 December 2023.

13 November, 2023

SAR 50mln EPC Contract awarded for pipeline construction in Saudi Arabia

Gas Arabian Services Co. Saudi Arabia announced the awarding of the contract with Advanced Petrochemical Company (Advanced). The Project involves Engineering, Procurement & Construction contract to construct pipeline from Advanced Company to gaseous stream to Jubail United Company (UNITED), an affiliated company of SABIC. The value of the contract is SAR 50.9 million. The duration of the contract is 14 Months.

13 November, 2023

$117m contract awarded to manufacture & supply steel pipes in Saudi Arabia

Saudi-based East Pipes Integrated Company for Industry has secured a contract worth SAR440 million ($117.2 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom. It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide. The entire contract work will be completed within a 13-month period. The financial impact of the contract will be reflected in second and third quarters of financial year 2024/2025.

9 November, 2023

Construction underway for first phase of documenting buildings in Saudi Arabia

The Riyadh Region Municipality has announced the completion of the first phase of inventorying and documenting buildings of the second half of the 20th century (1950-2000) in the Saudi capital. The project aims to monitor and document the stages of the architectural and urban development in Riyadh, as well as to highlight the distinct development renaissance that Riyadh witnessed in that era. The municipality has completed about 50% from the project's stages that shed light on the impact role of Custodian of the Two Holy Mosque King Salman during his tenure as the Emir of the Riyadh region. It has also inventoried the most important urban landmark historical value, and the cultural and social dimensions, leading to finding a mechanism to preserve and invest in these landmarks, in line with the objectives of Saudi Arabia's Vision 2030 to preserve the heritage of the Kingdom. The project monitored prominent and historically influential landmarks that included ancient neighborhoods, royal palaces and buildings. The Riyadh region municipality is also working on documenting the era extending from 1950 to 2000, through highlighting the developmental role of buildings and architectural and urban landmarks, as well as highlighting their importance and historical value. The project will work on preserving the urban landmark with the cultural and historical values they contain, in addition to consolidating the architectural styles of buildings during the second half of the 20th century. This will also facilitate the process of rehabilitating, restoring, reactivating and investing them, in addition to providing a database that preserves and documents that era and paves the way for the following eras.

8 November, 2023

Contract awarded for new automobile plant in Saudi Arabia

South Korea's Heerim Architects & Planners has secured the architectural design contract for Hyundai Motor Co.'s new automobile assembly plant in Saudi Arabia. The project, a joint venture with Saudi's Public Investment Fund, is set to be located in the King Abdullah Economic City, positioned 100 km north of Jeddah. This facility marks Hyundai's first manufacturing foothold in the Middle East, with plans to produce 50,000 vehicles annually. The latest contract enables Heerim to add another Hyundai plant to its portfolio, following the Genesis factory in Ulsan.

8 November, 2023

SAR 43.9 mln contract signed for construction of administrative buildings in Saudi Arabia

Red Sea International Co. signed a contract worth SAR 43.9 million (VAT exclusive) with Mubarak Marei Al Saloumi Contracting Co., to construct administrative buildings for the Amiral project in Jubail. The contract includes high-spec manufacture, supply and installation of prefabricated buildings, including office units and the project support buildings, within the construction framework of Amiral Complex, a future petrochemical expansion facility at the SATORP refinery. The five-month contract will be effective as of the date of the executive drawing's approval. A positive financial impact is expected to reflect starting from the fourth quarter of 2023, there are no related parties to the deal.

8 November, 2023

$581mln O&M contract awarded for sewage plants in Saudi Arabia

lkhorayef Water and Power Technologies Company won a long-term operations and maintenance (O&M) contract from the state-owned National Water Company (NWC) for four sewage treatment plants (STPs) Riyadh. The 180-month contract, valued at 2.18 billion Saudi riyals ($581.10 million), covers STPs in Heet and Al Hayer (Package Six). Under the contract, Alkhorayef Water will design, rehabilitate, test, and maintain the four plants with a combined treatment capacity of 780,000 cubic metres/day. The rehabilitation work will be conducted in two phases over 36 months, while O&M will start from the contract's date.

6 November, 2023

SAR 24.5 mln contract awarded for high-voltage underground cables in Saudi Arabia

Nomu-listed KEIR International Co. received, on Nov. 2, 2023 an award letter from Saudi Electricity Co. for a project contract, valued at SAR 24.5 million (including VAT). The contract aims to convert the existing 132-KV high-voltage underground cables between the central station and a station in Riyadh. The contract is expected to be signed in Nov. 20, 2023. The contract includes re-routing the existing underground cables from the substation to the central station with new cables, relevant accessories and connection works.

3 November, 2023

$56m contracts awarded to housing expansion project in Saudi Arabia

Nesma Infrastructure & Technology (NIT) has won two additional contracts with the Saudi Electricity Company valued at over SAR 210 million to support the expansion of Makkah's housing projects and to establish a link in the north of the Al Madinah Al-Munawwarah Province. The scope of work on this lump sum turnkey project includes the engineering, procurement, construction, testing and commissioning of the transmission substation along with its connection to the national electrical grid through an underground cable. The project is to be delivered in approximately 16 months.

2 November, 2023

Plans underway for railway line expansion to connect industrial and commercial ports in Saudi Arabia

An expansion of internal railway line is on cards to connect Saudi Arabia's Jubail Industrial City with its industrial and commercial ports. The plan was shared announcing the launch of several strategic projects at Jubail Commercial and Industrial Ports. These initiatives aim to minimise the ports' carbon footprint and expand shipping operations. In addition to enhancing infrastructure and increasing port capacity, the projects include establishing a modern petrochemical hub with 10 berths and a storage area.

2 November, 2023

Construction work to commence on new hospital in Saudi Arabia

Dr. Sulaiman Al Habib Medical Services Group expects to start construction of Tabuk Hospital in the fourth quarter of 2023 after obtaining regulatory approvals. The estimated cost of the 140-bed project is 420 million Saudi riyals ($112 million), with completion likely by the third quarter of 2027. The company signed a SAR32.5 million ($8.67 million) 50-year lease with Tabuk Municipality in January for land to construct and operate a hospital in the city in North-western Saudi Arabia.

1 November, 2023

Plans announced for establishment of new regional headquarters in Saudi Arabia

JLL, a leading professional services firm specialised in real estate, investment management, and development consultancy services, has announced the establishment of its regional headquarters at the King Abdullah Financial District (KAFD) in Riyadh. Situated in the heart of the Saudi capital, KAFD is home to 95 buildings designed by 25 world-leading architectural firms. It spans 1.6 million sq m and features state-of-the-art office space, world-class facilities, and iconic luxury residences. KAFD aims to transform how urban communities live, work, and play. Located just a 22-kilometer drive from King Khalid Airport, KAFD is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC). The strategic move to the heart of the capital's new Central Business District (CBD) was unveiled at the 7th Future Investment Initiative (FII) in Riyadh where strategies and precautions were outlined that must be employed to navigate the current global real estate market. The move is part of the company's broader commitment to strengthen JLL's presence in Saudi Arabia. The announcement of the regional headquarters at KAFD, currently the largest LEED for Neighbourhood Development (LEED ND) Stage 2 platinum certified project globally, brings JLL one step closer to fulfilling its own sustainability targets and is in line with the Kingdom's sustainable vision to decarbonise its built environment. JLL's role in revitalising this iconic project, from master planning to construction, handover, and operations, has been instrumental in attracting leading industry titans from across sectors to expand their regional operations in KAFD under the nurturing RHQ ecosystem. Scheduled for completion in early 2025, KAFD is also setting a new industry benchmark as the world's largest certified and sustainable urban quarter. KAFD's state-of-the-art infrastructure, smart city solutions and exceptional customer service will be pivotal in accelerating the growth ambitions of a wide range of businesses in the region.

1 November, 2023

$1.8 billion contract awarded for gas processing plant in Saudi Arabia

Indian engineering and construction giant Larsen & Toubro (L&T) announce that its hydrocarbon business secured Letter of Intent (LOI) for yet another major onshore project from a prestigious client in the Middle East. The LOI for gas processing plant was awarded to L&T Energy Hydrocarbon (LTEH). The statement didn't identify the client by name but featured a Riyadh dateline. The scope of work comprises engineering, procurement, and construction (EPC) for Gas Processing Plant consisting of Inlet Separation Facilities, Booster Compression System, Amine Gas Recovery Unit, Dehydration Unit, Mercury Removal Unit, NGL Recovery Unit and Sales Gas Compression System in new onshore facilities and its integration with existing Gas Processing Plants. While L&T doesn't disclose specific contract value & the award is categorised as ultra-mega, exceeding 150 billion Indian rupees (more than $1.8 billion).

31 October, 2023

Contracts awarded for substation with associated transmission lines in Saudi Arabia

L&T Construction has secured key orders in GCC, in the current quarter. In Saudi Arabia, an order for turnkey construction of a 380kV Substation with associated overhead transmission lines has been won. Another order has been bagged in the State of Kuwait to build 5 Substations to provide reliable and efficient power supply to an upcoming residential city.

27 October, 2023

Contract awarded for supply of green methanol & methanol-to-gasoline plant in Saudi Arabia

Thyssenkrupp Uhde has been awarded a contract by ENOWA, NEOM's energy and water company, for engineering services and the supply, design and procurement of equipment for a new CO2-to-methanol and methanol-to-gasoline demonstration plant at ENOWA's Hydrogen Innovation and Development Center (HIDC) in Saudi Arabia. The plant is a joint development of ENOWA and Aramco and will use the innovative uhde green methanol process and ExxonMobil's fluidized bed methanol-to-gasoline process. The plant will produce 12 tons of methanol and 35 barrels of gasoline per day. Methanol produced from hydrogen and carbon dioxide can be used as an energy carrier, a hydrogen carrier and a transport fuel, as well as to store electric power generated from renewable energies. It can also be used as a climate-friendly feedstock in the chemical industry for a large range of products, including plastics, paints and varnishes, building materials, clothing, pharmaceutical products and disinfectants.

27 October, 2023

$266.2 million plans announced to establish a satellite manufacturing company in Saudi Arabia

Aspace, a leading Hong Kong-based space company, has announced plans to establish an advanced satellite manufacturing company in Saudi Arabia at a total investment of SAR1 billion ($266.2 million). Aspace will manufacture components, subsystems and satellites. Aspace obtained an investment licence at the ongoing Future Investment Initiative (FII) being held in RiyadhThe Ministry of Investment and Saudi Space Agency played a pivotal role in facilitating this process, including offering investment support opportunities, and identifying suitable manufacturing sites. This ultimately led to the completion of the first groundbreaking investment deal for the space sector. All the investment procedures by Aspace have got completed and it will soon roll out its operations. Aspace will benefit from the kingdom's geographical location to enhance space capabilities in the region by investing in advanced satellites, which represent 70% of the global space market. This will also promote the Kingdom's position as an investment and advanced manufacturing destination to foreign companies. Welcoming the HK group's strategic investment, granting Aspace company the first investment licence in the satellite field is a cornerstone for related investments in the kingdom, as this field holds immense global opportunities. This step will undoubtedly encourage numerous companies to invest in the Kingdom, which is currently experiencing exceptional growth and progress in various areas. The satellite industry is going through remarkable advancements that will further enhance the Kingdom's attractiveness and global competitiveness & enhancing the kingdom's position as a regional hub for attracting space investments and technologies in this rapidly growing sector.

26 October, 2023

SAR 26.9 mln contract signed for sports development project in Saudi Arabia

WAJA Co. signed a SAR 26.9 million contract with the Saudi Football Federation (SAFF) to develop the VIP, gold and silver rooms in King Abdullah Sports City. The contract is valid for 45 days. The company expected the deal to have a positive financial impact on its revenues & there are no related parties.

26 October, 2023

Plans announced to build solar manufacturing unit in Saudi Arabia

GlassPoint, a leader in decarbonising industrial process heat, announced that it it will build a solar manufacturing facility and technology showcase in the Eastern Province of Saudi Arabia in partnership with the Ministry of Investment of Saudi Arabia (MISA). At full capacity, the factory will produce enough renewable energy solutions annually to generate 5,000 tons of solar steam each day, enough to offset four million MMBtus of gas and reduce carbon emissions by 200,000 tons each year. Products manufactured in the facility will be used for projects in the metals & mining, building materials and additional industrial sectors. 

25 October, 2023

$2.4 billion agreement signed to built a gas processing plant in Saudi Arabia

South Korean groups Hyundai Engineering & Construction and Hyundai Engineering Company have signed a $2.4 billion deal with Saudi oil giant Aramco to build a gas processing plant in the Jafurah gas field. The latest contract brings to $8.6 billion the total value of construction projects won by South Korean firms in Saudi Arabia 2023.

25 October, 2023

$11mln contract awarded for operation & maintenance of sewage water network in Saudi Arabia

Alkhorayef Water and Power Technologies Company has bagged an operation and maintenance (O&M) contract for the sewage and water network in the Hail region. The 36-month contract is valued at 40.74 million Saudi riyal s($10.86 million). The client's name was not disclosed.

25 October, 2023

$266m agreement signed to develop logistics park in Saudi Arabia

King Abdulaziz Port in Dammam will soon get a fully integrated logistics park worth SR1 billion ($266 million). The Saudi Ports Authority (Mawani), has signed a contract agreement with Saudi Global Ports to construct the park spanning 1 million sq. meters. The newly inked deal falls within the authority's efforts to expand the number of logistics parks within Saudi ports to 12. This expansion is expected to propel the Kingdom's position in the global logistics services performance index, moving from 38th to 10th place. In alignment with the National Strategy for Transport and Logistics Services and Vision 2030, this development aims to bolster the logistics sector's role in supporting the national economy, reinforcing Saudi Arabia's status as a global logistics hub connecting three continents. The logistics park will offer comprehensive logistics services and advanced solutions, with a strong emphasis on sustainable practices and systems. It will include warehouses and yards equipped for storing and handling various dry and refrigerated goods. Additionally, the park will feature a bonded and re-export area dedicated to sorting, distribution operations, and other value-added services.

25 October, 2023

$50mln contract signed to manufacture electrical towers in Saudi Arabia

Al Yamamah Steel Industries Company has inked a 185.9 million Saudi riyals ($49.56 million) contract with Al-Sharif Group and KEC Limited to manufacture and supply electrical towers. The contract will run for 10 months.

25 October, 2023

MoU signed to establish ecosystem hydrogen-based mobility in Saudi Arabia

South Korea's Hyundai Motor Company signed a memorandum of understanding (MOU) with Korea Automotive Technology Institute (KATECH), Air Products Qudra (APQ) and the Saudi Public Transport Company (SAPTCO) to establish and develop an ecosystem for hydrogen-based mobility in Saudi Arabia. Specific areas of collaboration include promoting demonstration projects for hydrogen fuel cell commercial vehicles and exploring opportunities for joint research in the field of hydrogen-based mobility.
Hyundai Motor is expected to provide hydrogen fuel cell commercial vehicles to SAPTCO as part of the partnership. KATECH is expected to explore further opportunities for collaboration in R&D and APQ will secure a hydrogen supply in Saudi Arabia for the partnership.

25 October, 2023

$500 million agreement signed to establish a vehicle manufacturing plant in Saudi Arabia

The Public Investment Fund (PIF) and South Korea's Hyundai Motor Company (Hyundai) have signed a joint venture agreement to establish a highly automated vehicle manufacturing plant for over $500 million in Saudi Arabia. PIF will hold a 70% stake in the new joint venture, with Hyundai holding the remaining 30%.
Hyundai will act as a strategic technology partner to support the development of the new manufacturing plant by providing technical and commercial assistance. The joint venture aims to manufacture 50,000 vehicles per year, including both internal combustion engines and electric vehicles. The plant groundbreaking is planned for 2024, and production is expected to begin in 2026. The joint venture formation is subject to obtaining approvals from the relevant authorities.

20 October, 2023

Contract signed for operation & maintenance of water project in Saudi Arabia

Alkhorayef Water and Power Technologies Co. signed a contract worth SAR 64.32 million (VAT inclusive) with National Water Co. (NWC) for the operation and maintenance of Jizan water projects (Southern Sector). The contract is effective for 36 months, expecting the related financial impact to be reflected in its Q1 2023 results. There are no related parties to the deal, it received the contract on Oct. 19, 2023 after it was signed by all parties.

19 October, 2023

Agreement signed for clean energy & water desalination in Saudi Arabia

Saudi Arabia's utility company ACWA Power has entered into seven cooperation agreements with various Chinese firms across multiple sectors, including solar energy, green hydrogen, and water desalination. These agreements were signed with Chinese entities, including State Power Investment Corp. specializing in energy generation, Bank of China headquartered in Beijing, and Power China Group, a civil engineering firm.
The Saudi firm also signed deals with other companies such as Energy China Group, a provider of power and infrastructure solutions, and Jinko Solar, a solar panel manufacturer. Chinese investors and financiers have contributed $10 billion to ACWA Power's global project portfolio, and Chinese engineering, procurement, and construction contractors, material suppliers, and financiers have participated in 47 projects and signed contracts worth more than $30 billion.