Saudi Arabia and China: Long history, bright future prospects
Diplomatic relations between the Kingdom of Saudi Arabia and the People’s Republic of China are witnessing a distinguished and solid development at a steady pace towards greater cooperation and mutual understanding in various fields for the benefit of the two friendly countries and peoples. Close relations between the two countries were initiated 80 years […]
Saudi’s Advanced Polyolefins closes $1.6bln Shariah-compliant funding for 3 plants
Saudi-listed Advanced Petrochemical Company said its subsidiary Advanced Polyolefins Industry Company has closed Shariah-compliant facilities worth 6.1 billion Saudi riyals ($1.62 billion) to finance the construction of three plants in Jubail Industrial City. The financial close comes after the company signed various Islamic facility agreementswith a consortium of financial institutions on 6 July 2022 to construct […]
Saudi’s SWPC invites bids for Ras Mohaisen – Baha – Makkah water transmission project
Saudi Water Partnership Company (SWPC), the principal off-taker for water and wastewater projects in Saudi Arabia, has issued Request for Proposal (RFP) for Ras Mohaisen – Baha – Makkah Independent Water Transmission Pipeline (IWTP) project. The IWTP, with a total capacity of 300,000 cubic metres per day, is expected start commercial operations in the third quarter of […]
Saudi Arabia approves biosignature to issue Umrah visa
Saudi Arabia is allowing registration of vital features “biosignature” for those coming from 5 countries to complete the procedures for issuing Umrah visas electronically prior to their arrival in Makkah and Madinah. The Ministry of Hajj and Umrah explained that the registration of “biosignature” currently includes all visitors coming from the UK, Tunisia, Kuwait, Malaysia, […]
Saudi Arabia launches first luxury island destination on NEOM
Saudi Crown Prince and Prime Minister Mohammed bin Salman announced the launch of Sindalah, the first luxury island and yacht club destination, in $500 billion NEOM, state-owned Saudi Press Agency (SPA) reported. The crown prince, who is also the Chairman of the NEOM Company, said Sindalah will be the first luxury island and yacht club […]
Saudi Arabia sets Jan Arab Light prices to Asia at 10-mth low
Saudi Arabia, the world’s top oil exporter, cut the January official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over faltering demand and a potential increase in Russian competition. The OSP for January-loading Arab Light to Asia was trimmed by $2.20 a barrel from December […]
Saudi Aramco’s Luberef expects to raise up to $1.32bln from IPO
Saudi oil giant Aramco’s base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company’s issued share capital, or 50.045 million shares, at between 91 […]
Voltas’ unit lands HVAC services contract in Saudi Arabia
Voltas, a premier air conditioning and engineering solutions provider and a projects specialist, said its International Operations Business Group has won a new project in Saudi Arabia to provide heating, ventilation, air conditioning (HVAC) services for the buildings connected to the Jubail 3B Independent Water project. Founded in India in 1954, Voltas Limited is part […]
Aramco’s Luberef unveils price range for IPO on Tadawul
Saudi Aramco Base Oil Company (Luberef) set the price range for its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul) at SAR 91-99 per share. Luberef plans to list 50.04 million shares, representing 29.65% of its issued share capital, according to a bourse filing. Participating entities can apply for a […]
Saudi NWC starts implementing water projects
Saudi Arabia’s National Water Company (NWC) has commenced the implementation of desalinated water distribution system projects in the cities of Dammam, Khobar, Ahsa, and Qatif. The SAR 4.30 billion projects will supply these areas with desalinated water around the clock. The projects include the implementation of more than 316-long transporting and main lines, the construction […]