This marks the first time an electric vertical take-off and landing aircraft performed test flights in Saudi Arabia
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UAE’s TAQA acquires SWS Holding in $463 million mega transaction
UAE’s utility giant Abu Dhabi National Energy Company (TAQA) has announced the full acquisition of SWS Holding following a deal worth AED 1.7 billion ($463 million), according to a press statement by the company. The acquisition will create a vertically integrated player with strong water treatment capabilities and a commitment to operational efficiency and customer […]
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Dubai’s Shiekh Hamdan approves $22 billion massive sewerage system plan
Dubai has given the green light to a monumental $21.8 billion sewerage system plan that will serve the city for the next century and further positioning it as one of the world’s most modern and sustainable cities. The ambitious project, approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and […]
Posted inEnergy Transition
Saudi contractor to invest $2.7 billion in Kingdom’s futuristic city NEOM
Alfanar Projects (formerly Alfanar construction) has announced plans to inject nearly SR10 billion ($2.7 billion) for the development of five residential communities in NEOM, a mega project under construction in Saudi Arabia, Trade Arabia reported. A leading global project developer and provider of engineering, construction and technology solutions with roots in Saudi Arabia, Alfanar said […]
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Algeria’s Sonatrach signs $800 million contract for oil and gas projects
The contract includes the construction of an LPG extraction unit, the drilling of twelve oil wells, and one water injection well among other projects
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Green hydrogen could create up to 2 million jobs globally per year: Deloitte
As support for clean hydrogen as a reliable, sustainable energy source strengthens, the market for green hydrogen is expected to grow to $1.4 trillion per year by 2050 while supporting up to 2 million jobs globally per year between 2030 and 2050, a new report by Deloitte finds. Green hydrogen—produced by splitting hydrogen atoms from […]
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Schneider Electric opens new manufacturing facility in Riyadh
Schneider Electric has opened a new production line in Riyadh, the capital city of Saudi Arabia. This production line will manufacture hardwares that will enhance the kingdom’s energy efficiency and sustainability efforts. The establishment of this production line aligns with Saudi Arabia’s Vision 2030, which aims to position the country as a prominent global manufacturing […]
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UAE: ADNOC, Kanoo Energy sign strategic manufacturing deals
ADNOC has signed three separate agreements with Kanoo Energy for manufacturing of valves, flanges and establishment of a reverse engineering facility in the UAE, Trade Arabia reported. The products are part of the $19 billion worth of products in ADNOC’s procurement pipeline that the firm identified for domestic manufacturing in July 2022. The agreements were […]
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Saudi: ACWA Power signs $1.5 billion project deal in Kazakhstan
Saudi Arabia’s ACWA Power has signed a roadmap agreement with the Ministry of Energy of Kazakhstan and Samruk-Kazyna, the country’s Investment Development Fund, for a major wind energy and battery storage project, according to a press statement from the company. The agreement paves the way for the construction of a 1GW project in Kazakhstan, marking […]
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Aramco’s Namaat program progresses work on launching $25 billion companies
Aramco’s Industrial Investments Program, Namaat, is progressing work on launching a cloud storage company, an iron sheet manufacturer, and a logistics management center among several other firms. The initiative, launched by the oil giant in 2021, is helping launch 31 local and international companies with an estimated total value of $24.53 billion, Arab News reported. Of […]