Rawabi closes Saudi’s largest private sector syndicated financing of $2bn
Rawabi Energy and its subsidiaries have concluded the financial close of $2 billion Syndicated multi-currency senior secured term and revolving SAR and USD facilities, marking one of the largest private sector syndicated financing in the Kingdom of Saudi Arabia. Led by strong market demand, the landmark Transaction was oversubscribed by 1.33x, reinforcing confidence in the Kingdom’s […]
THE LINE: A future awe-inspiring ‘Linear Smartcity’ in Saudi Arabia’s NEOM
A city with no cars, streets, or carbon emissions. Can you imagine it? Then, Saudi Arabia’s upcoming city, THE LINE, is making it possible. THE LINE is a linear smart city stretching across 170 kilometers, from the epic mountains of NEOM across inspirational desert valleys to the beautiful Red Sea. It is one of the […]
Saudi Aramco completes purchase of Rongsheng Petrochemical stake
Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully closed a landmark transaction to acquire a 10 percent interest in Rongsheng Petrochemical for $3.4 billion, through its subsidiary Aramco Overseas Company BV, based in the Netherlands. The acquisition follows the signing of definitive strategic agreements by both parties announced earlier […]
Saudi Ministry launches competition to support agricultural development goals
The Saudi Arabian Ministry of Environment, Water, and Agriculture (MEWA) has launched the “Agriculture Hackathon,” to drive creativity and innovation within the agricultural domain.The event seeks to develop digital solutions, platforms, and applications that strategically address the concerns in the sector, fostering a healthy agriculture ecosystem in line with Saudi Arabia’s Vision 2030 objectives. Furthermore, […]
OQ Technology strikes new MoU with Saudi Aramco to strengthen ties
OQ Technology, the world’s first satellite 5G IoT operator, has signed a memorandum of understanding (MoU) with Saudi Aramco in order to further strengthen their existing collaboration and expand Satellite IoT services and solutions for connecting Aramco’s Intelligent Integrated Node (IIN) technology. The new MoU will create investment opportunities by converging automation and connectivity technologies, […]
Saudi Arabia’s energy minister visits world’s first liquefied hydrogen carrier ship at Jeddah Port
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman visited the world’s first liquefied hydrogen carrier ship at Jeddah Islamic Port, reported the Saudi Press Agency (SPA). He was accompanied by the kingdom’s Minister of Investment Khalid bin Abdulaziz Al-Falih. The ministers were briefed on the innovative technologies deployed to build the liquified hydrogen carrier Suiso […]
Saudi’s Riyadh Air to build first simulator centre at Prince Sultan University
Riyadh Air has signed a memorandum of understanding (MoU) with Prince Sultan University (PSU) as part of its wider initiatives to prepare the future generation of aviation professionals in Saudi Arabia, including the recent launch of its first graduate programme. Fresh graduates enrolled in the graduate programme will receive training from experts in the field, […]
Saudi’s NHC launches integrated living project ‘Sadayem’ in Jeddah
The National Housing Company (NHC) launched its latest premium housing project, the ‘Sadayem suburb, in North Obhur in Jeddah. Sadayem covers a total area exceeding 3.8 million square metres and houses more than 8,000 residential units, including villas, apartments, and townhouses. The integrated structures feature architectural designs inspired by the identity of the Hijazi region, […]
Riyadh gets Middle East’s first Holiday Inn with open lobby concept
IHG Hotels and Resorts recently opened the Holiday Inn Riyadh The Business District in Saudi Arabia. The new property features the brand’s first open lobby concept in the Middle East. The concept combines all public spaces, including the reception area, restaurant and bar, into one cohesive space. The open lobby includes a media lounge, a […]
ENGIE & PIF strike MoU to develop green hydrogen projects in Saudi Arabia
ENGIE, the leading provider of low-carbon energy services and solutions for integrated utilities management, has signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) for the joint development of green hydrogen projects and its derivatives in Saudi Arabia. The MoU was signed by Mr. Frederic Claux, Managing Director, Flexible Generation and Retail, […]