Saudi: ACC to set up solar PV plant at Suez facility
Arabian Cement Company (ACC) has signed an amendment to its 2019 contract with Amarenco SolarizEgypt (ASE) to establish a Solar Photovoltaic (PV) plant at its Suez facility. The amendment to the agreement aligns with updated regulations recently issued by ‘EgyptERA’ the Egyptian Electric Utility and Consumer Protection Regulatory Agency to encourage and support […]
Saudi: SWCC signs deal on return water conservation, RO projects
Saline Water Conversion Corporation (SWCC) has signed agreements with top local and international companies to help boost co-operation in conserving return water (the portion of water diverted from a water supply which finds its way back into a watercourse) as well as reverse osmosis projects. Return waters are those flowing from the […]
Elm’s profits hike 57% in 9M-22 initial results
Elm Company logged a net profit after Zakat and tax worth SAR 718 million in the first nine months (9M) of 2022, up 57.11% year-on-year (YoY) from SAR 457 million. Revenues enlarged by 19.58% to SAR 3.29 billion during the January-September 2022 period, compared to SAR 2.75 billion in 9M-21, according to the […]
Program, speakers revealed for Saudi Green Initiative Forum at COP27
Saudi Arabia has revealed the program and speakers for the second edition of the Saudi Green Initiative (SGI) Forum taking place 11 – 12 November 2022 on the sidelines of COP27 in Sharm El Sheikh. The two-day event will convene an elite lineup of climate experts and thought leaders to discuss the progress […]
Al Hammadi Holding’s profits surpass $49.06mln in 9M-22; earnings in Q3 leap 1,495%
Al Hammadi Holding, formerly known as Al Hammadi Company for Development and Investment, achieved net profits after Zakat and tax worth SAR 184.17 million in the first nine months (9M) of 2022. The 9M-22 net profits were higher by 131.89% year-on-year (YoY) than SAR 79.42 million, according to the interim financial results. Meanwhile, […]
Saudi’s ACWA Power aims to grow its asset portfolio to $230bln by 2030
Saudi-headquartered global developer of energy and water projects ACWA Power expects its asset portfolio to hit $230 billion by 2030 from $75 billion at present, Arab News reported, citing Vice Chairman and CEO Paddy Padmanathan. The Tadawul-listed company’s power generation capacity currently stands at 42 gigawatts (GW), which could be increased up to three times […]
PowerChina is implementing 59 projects in MENA under Belt and Road Initiative
PowerChina announced on Thursday that it is implementing 59 projects in 13 countries in the Middle East and North Africa region under the Belt and Road Initiative. A press statement by the Chinese construction giant, which is ranked as world’s largest engineering contractor by trade publication ENR, listed key projects delivered or under implementation in […]
SISCO posts 69% lower profits in 9M-22 interim results
Saudi Industrial Services Company (SISCO) generated SAR 18.30 million in net profit after Zakat and tax during the first nine months (9M) of 2022, lower by 68.82% than SAR 58.70 million in 9M-21. Revenues amounted to SAR 717 million in the January-September 2022 period, an annual drop of 2.28% from SAR 733.70 million, […]
Saudi: Walaa Cooperative Insurance’s losses shrink in 9M-22; accumulated losses announced
The net losses before Zakat of Walaa Cooperative Insurance Company reached SAR 43.84 million in the first nine months (9M) of 2022, down 5.59% from SAR 46.43 million in 9M-21. The loss per share settled at SAR 0.80 in the January-September 2022 period, compared to SAR 0.89 in 9M-21, according to the interim […]
Aldawaa Medical Services logs nearly $57.6mln profits in 9M-22
Aldawaa Medical Services Company generated net profits after Zakat and tax worth SAR 215.93 million in the first nine months (9M) of 2022, an increase of 26.97% from SAR 170.07 million in 9M-21. The firm registered revenues worth SAR 3.91 billion in the January-September 2022 period, up 4.76% year-on-year (YoY) from SAR […]