Saudi Arabia extends term for $3bln deposit in Pakistan’s central bank
Saudi Arabia on Friday extended the term of a $3 billion deposit it made to Pakistan’s foreign reserves, the Saudi Press Agency (SPA) reported. Saudi Arabia deposited the money in Pakistan’s central bank late last year as a loan to shore up the cash-strapped country’s reserves. In the implementation of instructions by Custodian […]
Minerals indispensable for transition to renewable energy, says Saudi’s Al-Mudaifer
Saudi Arabia’s Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Saleh Al-Mudaifer stressed that minerals are indispensable to the energy change to renewables. Decarbonization – the net-zero transition – cannot happen without minerals and metals, he pointed out. He noted that this requires us to scale up discoveries and we […]
Longi signs deal with L&T for two major Saudi solar projects
Longi, a leading global solar technology company, has signed an agreement with India’s top engineering and construction conglomerate Larsen & Toubro (L&T) to provide 1,292MW of photovoltaic modules for key solar projects under construction in Saudi Arabia. The agreement covers two Saudi projects for which L&T is the engineering, procurement and construction (EPC) contractor – […]
Saudi PIF launches investment unit for Aseer region
Saudi Arabia’s sovereign wealth fund PIF (Public Investment Fund) has announced the launch of its new investment unit in the kingdom’s Aseer region. The key entity, Aseer Investment Company, will operate and stimulate direct local and international investments into the Aseer region in bid to turn it into a global tourist destination which will attract […]
Saudi issues permits for 725 industrial projects in 9 months
Saudi Arabia issued permits for 725 industrial projects in the first nine months of 2022 as part of plans to diversify its oil-reliant economy, according to official data. The new permits bought the total industrial projects in the world’s largest oil exporter to 10,728 at the end of Sept, with total investments of 1.37 trillion […]
Saudi’s Advanced gets license to build propane gas transport system
Saudi-listed Advanced Petrochemical Company’s subsidiary, Advanced Global Investment Company, has received approval from the Ministry of Energy to construct, own and operate pipelines for propane gas transport in Jubail Second Industrial City (Jubail – 2), the company said in a statement to the Saudi stock exchange. The approval is valid for 25 years from the […]