AESG, a leading global engineering, consultancy and advisory firm, has announced the acquisition of Australia's leading specialist renewable energy consultancy The Energy Project (TEP). The Emirati company has also appointed industry veteran Andrew Mather as the country managing director.
The Royal Commission for Riyadh City (RCRC) has awarded contracts worth SAR5.5 billion ($1.47 billion) to German industrial giant Siemens and French rolling stock manufacturer Alstom for 94 new train sets for its Riyadh Metro network. Deliveries are set to begin in 2028, with the trains to be supplied in phases.
The Abu Dhabi Projects and Infrastructure Centre (ADPIC) has partnered with The Boring Company (TBC), the advanced tunnelling and infrastructure technology company founded by Elon Musk, to explore underground transport, utility tunnels, and related infrastructure solutions across the emirate.
Oman has laid the foundation stone for an integrated tourism and commercial project in the Wilayat of Masirah, South A’Sharqiyah Governorate, with an investment of RO5.775 million ($15 million).
Dubai has nearly AED2.1 trillion ($571.5 billion) worth of projects underway across housing, transportation, aviation, infrastructure and economic development, with more projects to be announced in the coming phase, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said.
The Future Investment Initiative (FII) Institute has announced that Riyadh Municipality has signed up as a city partner for the upcoming Future Investment Initiative (FII10) conference, thus supporting the kingdom's organisational efforts and providing an integrated urban experience for visitors.
Lucid Group, makers of the most advanced software-defined vehicles and technologies, and the Saudi Logistics Academy (SLA) have announced a partnership that will see the duo prepare Saudi talent for logistics and supply-chain roles supporting Lucid’s Advanced Manufacturing Plant in King Abdullah Economic City.
The Saudi Real Estate Refinance Company (SRC), a PIF company, has announced the launch of its second Residential Mortgage-Backed Securities (RMBS) issuance, marking a significant step in the development of the kingdom’s securitisation market.
BI Group has signed a deal with Citic Middle East Contracting, the UAE subsidiary of Chinese group Citic Construction, to collaborate on the construction of three real estate developments in Dubai - all coming up in Meydan Horizon. As per the deal, Citic will be the main construction contractor across all three projects.
Elsewedy Electric said its joint venture with Sinohydro, a leading global contractor, has won a major contract from Al Mourjan Two for Electricity Company, to provide EPC services for the Rabigh 2 Independent Power Plant (IPP) Expansion Project, a gas-fired combined-cycle development with a total value of $2.2 billion.
