Saudi-based Al Yamamah Steel Industries has announced that it has been awarded a key contract by the Sepco III Electric Power Construction to deliver steel wind towers for its Yanbu Wind farm. The entire contract work will be completed within the next nine months.
Saudi-based Mutlaq Al Ghowairi Contracting has announced that it has signed an agreement with Alfanar Projects to implement a 380 kV electrical substation unit within the scope of the works of the Jubail-Buraidah Independent Water Transmission Pipeline Project.
Shuaa Capital Saudi Arabia has joined hands with Gate Capital Financial Services, an established financial advisory firm, for launch the first of its kind alternative investment fund dedicated to the consolidation of the fuel retail sector in the Kingdom of Saudi Arabia (KSA).
Middle East Specialised Cables Company has announced that it had signed a sharia-compliant finance agreement with Saudi Awwal Bank worth SAR100 million ($26.6 million). The funds will be used to support MESC's working capital and the issuance of performance bank guarantees.
Saudi Arabia has announced the launch of the Expression of Interest (EoI) phase for the development of the Quality Valley project in Riyadh under a PPP model. The project scope includes the development of the HQ site of Saso in Riyadh and transforming it into a 191,000-sq-m integrated mixed-use masterplan.
Riyadh Development Company has announced that it has successfully completed the transfer of the Al Taamir Commercial Wholesale Centre to Deera Development and Real Estate Investment Company as part of plans to develop the Al Deera neighbourhood markets.
Saudi-based Al Kuzama Trading Company has announced that it had signed an agreement to acquire a 25% stake in Unique Food Catering Company - a major regional player operating in the restaurant and fast food segments - as part of its strategy to expand in the food and beverage sector.
Saudi Ministry of Energy has announced that it has successfully restored the full pumping capacity through the East-West pipeline, amounting to 7 million barrels per day (bpd), and recovering the affected volumes from the Manifa field production of 300,000 bpd, said a report.
Sadara Chemical, a joint venture between Saudi oil giant Aramco and US chemicals firm Dow, has announced that it has temporarily shut down production at its parent-operated plant. Sadara Chemical operates a complex in Jubail with an annual production capacity of 3 million MT of chemicals and plastics.
Saudi developer First Avenue has signed an agreement with Jadwa Al Shorfa Real Estate Fund for a mixed-use project in the capital Riyadh featuring a mix of commercial, residential and office units. The project, Capital Avenue - Al Rayyan, will come up on a 38,950 sq m area at the intersection of the Eastern Ring-Makkah Khuris Road.
