ACWA awards EPC contract for Rabigh 4 Independent Water Plant project
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG), has signed an engineering, procurement, and construction (EPC) contract with a consortium of Power China, SEPCOIII, and WETICO for the 600,000 m3/day […]
Saudi Arabia & Turkey explore cooperation in various sectors
Saudi Arabia’s minister of municipal and rural affairs and housing, Mr. Majid Al-Hogail has discussed means of cooperation in the fields of economy, urban development, city planning, and general development with ministers and officials of the Turkish government. The Saudi officials’ visit to Turkey intends to strengthen partnerships between the two sides in the areas […]
Saudi-based HyperPay adds Sanad Cash to its digital payment platform
HyperPay, the largest and fastest-growing payments services provider in the MENA region, has acquired Sanad Cash, the leading Saudi spend management fintech. This strategic move aims to bolster HyperPay’s service offerings and solidify its standing as a comprehensive all-in-one digital solution across the MENA region. Moreover, it represents a significant milestone in HyperPay’s mission to […]
GCCIA strikes MoU with Royal Commission for Jubail and Yanbu
Gulf Cooperation Council Interconnection Authority (GCCIA) and the Royal Commission for Jubail and Yanbu (RCJY) have signed a Memorandum of Understanding (MoU) in order to bolster collaboration frameworks, promote shared standards, and encourage the exchange of expertise. The MoU marks a significant step towards fruitful partnership in various fields, including industry, development, strategy, academia, science, […]
ACWA Power signs MoU to allocate land for 10 GW wind project in Egypt
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) in order to allocate land for a 10 GW wind project in Egypt. The MoU allocates approximately 3,000 square kilometers of […]
Chapman Taylor unveils design for Jeddah mixed-use project
Chapman Taylor, a key architect and masterplanner, has unveiled the design for Porta Jeddah, a mixed-use development coming up in the Saudi port city on a 150,000-sq-m gross building area. On completion, the project, which is being developed by Saudi developer Al Akaria, is set to become an iconic landmark for Jeddah, featuring a wide […]
First Mills posts higher profits in Q1-23 initial financials
First Milling Company (First Mills) logged net profits after Zakat and tax amounting to SAR 73.75 million in the first quarter (Q1) of 2023, up 1.80% from SAR 72.45 million in Q1-22. Revenues climbed by 5.44% to SAR 255.54 million as of 31 March 2023 from SAR 242.36 million a year earlier, according to […]
Banan Real Estate eyes listing on TASI
The board members of Banan Real Estate Company agreed, on 4 July, to transfer the company’s shares from the Parallel Market (Nomu) to the main market All Share Index (TASI). Banan Real Estate appointed AlDukheil Financial Group as a financial advisor for the proposed transition, according to a bourse disclosure. Meanwhile, the upgrading process is […]
Saudi and Kuwait claim gas field eyed by Iran
Saudi Arabia has said it enjoys “full rights” along with Kuwait to a disputed gas field in the resource-rich Gulf, pushing back against claims by Iran, state media reported late Tuesday. The field, known as Arash in Iran and Dorra in Kuwait and Saudi Arabia, falls under “joint ownership between the Kingdom of Saudi Arabia […]
China’s SUPCON bags automation contracts in Saudi and Kuwait
Shanghai-listed process automation company SUPCON announced on Tuesday that it has bagged three automation contracts in the Gulf region. The company said in a press statement that it has been awarded a Workforce & Assets Tracking Solution Project by International Maritime Industries (IMI), the largest full-service shipyard in the MENA region powered by Aramco, Bahri, […]