Madinah-3 wastewater project on track for 2024 commercial ops
Saudi Water Partnerships Company (SWPC) has announced that work is in full swing on Madinah-3 wastewater project coming up in the fourth most populated city in Saudi Arabia, which on completion will have a capacity of 200,000 cu m/day (expandable to 375,000 cu m/day). The project, being developed by a consortium of Spanish infrastructure major […]
Elaf signs technology agreement with Sabre
Elaf Travel and Tourism, a leading travel management company in Saudi Arabia, and Sabre Corporation, a leading software and technology company that powers the global travel industry, cemented a long-standing relationship, have signed an agreement to drive the agency’s growth through advanced technology The agreement was signed at a ceremony attended by management and executives […]
Top firms Acciona, Acwa, Engie in race for Rabigh 4 water project
Saudi Water Partnerships Company (SWPC) has announced that the consortiums of Spanish infrastructure major Acciona and Saudi power and desalination projects developer Acwa Power as well as French multinational utility group Engie are in the race for Rabigh 4 Independent Water Project (IWP). The project, to be located 180 km northwest of Makkah on the […]
Saudi’s Dor, Arbah Capital launch $266mln real estate investment fund
Saudi-based Dor Real Estate Company has signed a memorandum of understanding to establish a real estate investment fund of 1 billion Saudi riyals ($266 million) with Shariah-compliant investment firm Arbah Capital. The fund aims to acquire lands in various cities across the Kingdom and will develop the infrastructure, construct residential units, and sell them, the […]
Saudi Arabia’s sovereign wealth fund and BlackRock have signed an agreement to jointly explore infrastructure projects in the Middle East, focused on Saudi Arabia. The Public Investment Fund (PIF), which manages more than $600 billion in assets, said their non-binding memorandum of understanding will serve as the anchor for BlackRock’s Middle East infrastructure […]
OPEC cuts oil demand growth forecast again as economic challenges mount
OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of […]
Kuwait, Saudi Arabia, ink MoU for boosting tourism cooperation
The Kuwaiti Ministry of Information and the Saudi Ministry of Tourism signed on Monday a memorandum of understanding for boosting tourism cooperation. The MoU, inked by the Kuwaiti Minster of Information, Culture Minister of State for Youth Affairs Abdulrahman Al-Mutairi and the Saudi Tourism Minister Ahmad Al-Khatib, stipulated that the two sides would […]
Saudi: MIS awarded $25.79mln project from Riyadh Municipality
Al Moammar Information Systems Company (MIS) was awarded a project worth SAR 96.97 million from Riyadh Region Municipality on 13 November 2022. The agreement covers the maintenance and operation of computers in various departments across the Riyadh Municipality, according to a bourse disclosure. It also includes providing technical consultancy services and strategic planning, as well […]
Trade and security on agenda for Xi visit to Saudi Arabia
Strengthening trade ties and regional security will be priorities in an upcoming visit by Chinese leader Xi Jinping to Saudi Arabia, Saudi minister of state for foreign affairs Adel Al-Jubeir said on Saturday. The visit, which two sources said was expected to take place in December.Jubeir did not give details of the trip […]
Saudi Arabia approves framework for renewable energy systems for self-use
Chaired by Minister of Energy Prince Abdulaziz bin Salman, the Board of Directors of the Water and Electricity Regulatory Authority has approved the regulatory framework for renewable energy systems for self-consumption. The move reflects the energy system’s efforts to develop regulations that contribute to achieving the goals of the Kingdom’s Vision 2030 in […]