Saudi’s energy city SPARK announces deal to build $10mln factory
Saudi Arabia’s energy city King Salman Energy Park (SPARK) has confirmed a new deal for the development of a multimillion-dollar manufacturing site that will produce corrosion protection tapes and oil and gas equipment. In a statement on Monday, the energy city said it has just signed an agreement with oil and gas services provider Mubarak […]
Agritech start-up Graze-it kicks off ops in UAE, Saudi Arabia
UAE-based agritech business Graze-it is now formally commencing its operations in the UAE and the Kingdom of Saudi Arabia (KSA) with the aim of disrupting livestock feed for a more sustainable future. By growing sustainable animal feed directly at the consumer’s site, the company is solving a major food security challenge in the Middle East, […]
Saudi Electricity Company’s net profit falls on higher costs
State-controlled Saudi Electricity Company has posted a decline in net profit despite higher demand, as operating and maintenance costs increased. Net profit for the second quarter of the year reached SAR5.5 million, down by 5.6% compared to SAR5.8 million a year ago, the company said in a statement on the Saudi Stock Exchange (Tadawul) Monday. […]
Egypt Aluminum, EMPC reply to news reporting PIF’s potential investment
Egypt Aluminum and the Egyptian Media Production City Company (EMPC) have made two statements on Sunday in line with the news reporting that Saudi Arabia’s Public Investment Fund (PIF) aims to invest in the two companies. Egypt Aluminum revealed that it is currently studying increasing the company’s capital, adding that it will present the transaction […]