Aramco & ENOWA to establish synthetic e-fuel demonstration facility
Saudi Aramco, a global integrated energy and chemicals company, and ENOWA, NEOM’s energy and water company, have signed a joint development agreement to construct and establish a first-of-its-kind synthetic electro-fuel demonstration plant. It will be located in ENOWA’s Hydrogen Innovation and Development Center (HIDC) and aims to demonstrate technical feasibility and commercial viability by producing […]
PIF, Hyundai to build $500m high-tech car manufacturing plant in Saudi Arabia
In a groundbreaking development aimed at transforming Saudi Arabia’s automotive landscape, the Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have officially signed a joint venture agreement to establish a highly automated vehicle manufacturing plant within the kingdom’s borders. PIF, Hyundai joint venture The joint venture, unveiled at the Saudi-Korean Business Forum, comes as […]
Flynas to begin new flight between Jeddah and Ankara
Saudi low-cost airline Flynas will launch a direct weekly flight between Jeddah and Ankara starting November 7. The airline said that the decision to introduce the new flight was made to meet the objectives of the kingdom’s Pilgrims Experience Program (PEP) to facilitate access to the Two Holy Mosques and the National Civil Aviation Strategy […]
SCA inks MoU with International Contractors Association of Korea
The Saudi Contractors Authority (SCA) has signed a memorandum of understanding (MoU) with the International Contractors Association of Korea (ICAK) in order to strengthen cooperation between the entities. The signing ceremony was held under the patronage of the Minister of Municipal and Rural Affairs and Housing, Mr. Majid Al-Hoqail, and the Minister of Land, Infrastructure, […]
Saudi Arabia & Singapore elevate relations to ‘Strategic Partnership’
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia has elevated the relations to a strategic partnership with Singapore. In the economic realm, Crown Prince and Singapore’s Prime Minister Mr. Lee Hsien Loong addressed challenges in the global economy, noting a 51 percent growth in […]
Mawani & SGP deal for new logistics park at King Abdulaziz Port
The Saudi Ports Authority (Mawani) and Saudi Global Ports (SGP) have inked a deal to build a fully integrated logistics park spanning over 1 million square meters at King Abdulaziz Port in Dammam, with an investment nearing $266 million. The agreement was signed in the presence of HRH Prince Abdulaziz bin Salman bin Abdulaziz Al […]
Elm & NeXplain Solutions to foster technological and consulting services
Elm, a leading digital solutions company, has signed a memorandum of understanding (MoU) with NeXplain Solutions, a Spanish company that specializes in providing smart business solutions and digital consulting. The partnership marks the beginning of a dynamic partnership that fosters effective technological and consulting services. The partnership serves as a roadmap for collaboration to provide […]
EFG Hermes completes advisory on landmark $1.21bln IPO of ADES on the Saudi Exchange
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed advisory on the landmark SR4.572 billion ($1.219 billion) initial public offering (IPO) of ADES Holding Company (ADES), a leading oil and gas drilling and production services provider in MENA, on the Saudi Exchange. […]
Saudi: SIRC, Edama enter partnership on organic waste management, Desert Agriculture Development
The Saudi Investment Recycling Company SIRC, wholly owned by the Public Investment Fund (PIF), entered into a strategic partnership with Edama Organic Solutions, the leading company in sustainable management solutions for organic waste. The cooperation aims to create a new joint company dedicated to revolutionizing organic waste recycling in the Kingdom. The joint project is […]
Red Sea Destination officially launches Saudi’s first seaplane company
Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations – The Red Sea and Amaala – celebrated the take-off of its first seaplane flight operated by its subsidiary company, Fly Red Sea. Established as the first seaplane company in the Kingdom of Saudi Arabia, Fly Red Sea aims to […]