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Saudi Arabia vows commitment to provide support to host World Expo, ensure its success
08 Mar 2023 Written by Admin AdminThe first workshop was organized with the presence of Fahd Al-Rasheed, CEO of Royal Commission for Riyadh City and members of the BIE’s visiting delegation as well as a number of representatives of concerned agencies.
A delegation from the Bureau International des Expositions (BIE) Enquiry Mission has held the first workshop to assess the Kingdom’s bid for hosting the World Expo 2030 in Riyadh as part of the BIE’s procedures to select the hosting country.
The first workshop was organized with the presence of Fahd Al-Rasheed, CEO of Royal Commission for Riyadh City and members of the BIE’s visiting delegation as well as a number of representatives of concerned agencies.
The workshop discussed the Kingdom of Saudi Arabia’s Expo 2030 bid and the added value of hosting the high-profile global exhibition in Riyadh.
During the workshop, Al-Rasheed explained that Riyadh has the potential to host an exceptional version of the World Expo thanks to the special care and attention of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister and Chairman of the Board of Directors of the Royal Commission for Riyadh City.
He also pointed out that Riyadh has hosted large international events before and has won international recognition in this filed.
The delegation has also met with Minister of Finance Mohammed bin Abdullah Al-Jadaan and reviewed the details related to the Kingdom’s commitment to financial support the exhibition.
The minister has voiced the Kingdom’s commitment to put in place all necessary preparations to finance and host the World Expo, including providing basic and operational expenditures.
Al-Jadaan added that the economic and financial reforms the Kingdom has witnessed as per the Saudi Vision 2030 have led to pushing and accelerating the growth rate, adding that the World Expo falls within the Kingdom’s initiatives which will contribute to creating various economic opportunities and achieving revenues to several sectors in Riyadh.
source: Zawya
Saudi PIF’s second green bond sale of $5.5bln oversubscribed more than 6 times
11 Feb 2023 Written by Admin AdminSaudi Arabia's Public Investment Fund (PIF) said its latest green bond issuance, which raised $5.5 billion was oversubscribed more than six times with books exceeding $33 billion.
It was issued in three tranches, comprising of $1.75 billion with seven-year tenure, $2 billion with 12-year tenure and $1.75 billion with a 30-year tenure, PIF said in a statement on Friday.
The sovereign wealth fund did not disclose the pricing of the bonds. Reuters reported earlier, citing sources, that the seven-year paper was priced at 115 basis points (bps) over US Treasuries (UST), the 12-year at 145 bps over UST and the 30-year bonds at 185 bps over UST.
The bond was sold to a wide range of institutional investors globally, including Asia, PIF said.
Fahad AlSaif, Head of Global Capital Finance Division at PIF, said: "Strong demand from international institutional investors for this second issuance is a testament to the ongoing success of PIF’s capital raising strategy, its credit profile and financial strength.”
source: Zawya
Star-Studded LEAP23 Offers US$1.54 Million Prize Pool in Startup Pitch Challenge and Cloud Hackathon
01 Feb 2023 Written by Admin AdminLEAP23, the world’s most visionary and valuable technology event, will host two competitions with a prize purse of US$1.54 million, as well as a welcome a raft of global celebrities and tech industry luminaries ranging from music icon will.i.am and FIFA World Cup winner Carles Puyol to Amin H Nassr, CEO of Aramco, and Jae Sook Evans, Chief Information Officer at Oracle.
LEAP23 is set to run from February 6-9 at the Riyadh Front Exhibition and Conference Centre and will be the setting for the inaugural LEAP Rocket Fuel Startup Pitch Challenge, powered by Saudi Arabia’s National Technology Development Programme (NTDP). The initiative is a collaboration between the Kingdom’s Ministry of Communications and Information Technology (MCIT), the MiSK Foundation, and NTDP.
Ninety global startups will fight for the chance to be one of the 15 nascent businesses selected to pitch before a judging panel consisting of Shark Tank India’s Ghazal Alagh, Baroness Karren Brady, aide to The Apprentice’s Alan Sugar, Saudi angel investor Tala Al Jabri, and Dragon’s Den stars James Caan and Steven Bartlett.
The judges will present the LEAP Award and its accompanying US$250,000 main prize to the outstanding startup, while US$150,000 will go to the best early stage startup, the most innovative startup pioneered by women, the new business that best embodies the LEAP spirit, the most impressive startup occupying the Metaverse and Web 3.0, and the pitch that represents the most exciting, ground-breaking use of Artificial Intelligence.
On the show’s final day, LEAP23 will also host the winners’ ceremony of the ongoing Alibaba Cloud Saudi Hackathon, which comes with its own prize pool of US$532,000. Organisers said the response to the four-day hackathon, which started on January 29, was huge.
The winning solutions and ideas implementors – those that have made the best use of Alibaba Cloud technology to facilitate deployment, development, scalability, and fast go-to market solutions – will be presented with their awards on February 9.
LEAP23 is set to welcome 920 scheduled investors, including Sequoia Capital, Octopus Ventures, 500 Global and many more. Between them, they control an unprecedented US$1.9 trillion in assets under management. And with more than 5,000 potential meetings bookmarked, the four-day show promises to be the event where decisions are made and deals get done.
As well as pop superstar will.i.am and former Barcelona and Spain legend Puyol – both now entrepreneurs within the Metaverse – the latest batch of tech heavyweights and international celebrities set to speak at LEAP23 include Séan Garnier, CEO of Urbanball and world freestyle football champion, Gary Sorrentino, Global Chief Information Officer at Zoom, Helen K Pan, General Manager at Apollo Autonomous Driving – Baidu, Jim Deluca, CEO of Ceer, Hatem Dowidar, Group CEO at e& Group (formerly Etisalat), and a host of other C-suite thought-leaders from major global technology companies.
LEAP23’s newly released roster of tech talent also highlights the Saudi convention’s ability to connect East and West, with Selina Zhang, President of Alibaba Cloud, and Wu Eddie Yongming, Co-founder of Alibaba Group confirmed alongside Sheikh Talal Said Marhoon Al Mamari, CEO at Omantel, Saleem AlBlooshi, CTO at Du, Sheikh Bader bin Rashid Al Khalifa, Chief Communications and Sustainability Officer at Batelco, and Charles Li, ex-CEO of Hong Kong Exchange and Chairman of Micro Connect.
In connecting the most influential players from the East and West, LEAP23 will be the stage for announcing strategic alignments and large-scale business deals that will impact the tech community globally.
Last year, more than US$6 billion worth of investments were announced and organisers are confident this year, with an increase in investors, exhibitors, and attendees from around the world, will surpass that figure.
With more than 900 exhibitors confirmed for this year’s second iteration, LEAP23 will host more than 700 speakers, including billionaire investors, astronauts, and athletes-turned-tech investors across its 15 conferences. A host of Saudi Arabian heavyweights such as STC and NEOM will be accompanied by an international cadre of the biggest names in tech, such as Snapchat, Google Cloud, Amazon Web Services, Visa, Alibaba Cloud, Ericsson, Huawei, and Nokia.
Taking place alongside LEAP23 is the inaugural DeepFest, which will explore the global AI eco-system and showcase life-changing, multi-sector initiatives and innovations related to clean tech, the Metaverse, and women in technology. LEAP23 has garnered support from numerous leading government and private sector organisations.
Strategic partners and sponsors include NEOM, STC, Saudi Aramco, Mobily, IBM, Microsoft, Ericsson, Huawei, and Najm Insurance. The 2023 edition will also host country pavilions from the United Kingdom, Finland, Japan, Pakistan, Indonesia, Oman, and India.
The Ministry of Communications and Information Technology (MCIT) is powering LEAP in conjunction with Tahaluf – a strategic joint venture co-owned by Informa PLC and the SAFCSP.
Source: African Business
Saudi to drive innovation with World Economic Forum accelerator deal
16 Jan 2023 Written by Admin AdminA new accelerator programme set up by Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) and the World Economic Forum (WEF) aims to support efforts to drive innovation in the kingdom.
Based on the new programme, the state-backed KACST will work with WEF to “connect experts and knowledge partners from the public and private sector to identify and unlock new promising markets as part of the ongoing work to transform Saudi’s economy”, according to a statement.
Saudi Arabia has plans to build a virtual “house” in the village, thus opening a door to opportunities, investment and collaboration among national stakeholders and international entities. It will host events and other activities that promote interaction and knowledge sharing.
Early this year, WEF announced plans to set up the Global Collaboration Village to promote public-private cooperation and tackle the world’s most pressing challenges.
source: Zaway
The plant, set to open in 2025, will serve Saudi Arabia and export markets in the Middle East and North Africa
Nestle will invest SAR7bn ($1.86bn) in Saudi Arabia in the coming 10 years, starting with a plant to make infant products and ready-to-drink coffee, as the kingdom looks to attract more foreign investments to diversify its oil-dependent economy.
The plant, set to open in 2025 with an initial investment of SAR375m riyals, will serve Saudi Arabia and export markets in the Middle East and North Africa, the Swiss food giant said in a statement. The investments over the next decade are expected to create 3,500 direct and indirect jobs.
“Nestle’s investments will contribute to food security and the development of local businesses, fuel local innovation, and create jobs for youth and professionals,” Khalid Al-Falih, Saudi Arabia’s Minister of Investment in Saudi Arabia, said in the statement.
Saudi Arabia has set a target of attracting around $100bn a year of foreign direct investment by 2030 as it looks to diversify its economy. Yet most of the foreign investments in the country has been into the oil industry.
Of the nearly $20bn of FDI last year, about $12bn was related to an oil pipelines deal by state-owned oil producer Saudi Aramco.
source: Gulf Business
Revival Lab launches $40 million fintech-focused VC builder and fund
12 Dec 2022 Written by Admin AdminSaudi Arabia-based Revival Lab will establish “Fin-tactics Ventures", a venture builder specialised in fintech, insuretech and regtech, supported by a $40 million venture capital fund managed by Arbah Capital to invest in startups based in Saudi Arabia, the Middle East and the rest of the world.
Fintactics Ventures has come together through several partnerships including Aion Digital, which specialises in providing technical solutions to the financial sector in the region, Bitfy Holdings to provide blockchain services and Holol, a services platform to facilitate and enhance housing finance options in Saudi Arabia.
Press release:
Revival Lab announces the venture builder, "Fin-tactics Ventures", at the World Fintech Show conference as the first venture builder specialised in fintech, insurance and regulatory technologies in the region, and supported by 150 million riyals venture capital, approved by the Capital Market Authority (CMA) and managed by Arbah Capital to invest in promising opportunities in the sector in the Kingdom, the Middle East and the rest of the world.
The announcement included the signing of a partnership agreement between Fin-tactics Ventures and Aion Digital, represented by its Chairman, Mr Abdullatif Al-Rajhi, a company that specialised in providing technical solutions to the financial sector in the region. In light of this partnership, the joint venture (Lizam) was announced to create an integrated digital experience that is compatible with customer requirements and achieve the necessary flexibility by providing the service (RegTech-as-a-Service) with all the capabilities required for digital onboarding, eKYC, and compliance. In addition to verification by regulators to combat risk and fraud. This partnership aims to shape the financial landscape of the future and to develop and promote the expansion of well-built digital products.
The event also included other important partnerships, including signing with Bitfy Holdings to provide blockchain services and accelerate the adoption of its specialised technologies in the financial and non-financial sectors in the Kingdom. It is worth noting that " Fin-tactics Ventures has been a shareholder in Bitfy Holdings, fintech experts through direct investment within the latest investment round. Fin-tactics has also signed with one of the major banks in Brazil, Banco de Brazil, to provide fintech solutions to provide blockchain technology as well.
During the conference, another agreement was also signed to launch Holol, a services platform to facilitate and enhance housing finance options in the Kingdom of Saudi Arabia.
Mahmoud Al-Kohji, CEO of Arbah Capital, mentioned: “We are now witnessing a notable flow of opportunities with unique quality, and through this cooperation, we are committed to creating a suitable business environment to enhance excellence and growth in the financial sector.”
According to Mohammed Al-Maghlouth, CEO of Revival Lab: “We have worked to provide innovative initiatives for the financial sector in the Kingdom of Saudi Arabia, and we aim to enable the fund to support other regions globally.”
Haitham Al-Sahafi, CEO of Fintactics Ventures, said: “As a venture builder specialised in fintech, we seek to make Fintactics Ventures the initiator and supporter of rapid growth in the sector on solid foundations creating an attractive environment for competition and entrepreneurship by providing resources and capabilities through cooperation to accelerate the development process in startups, and be among the recent organisations to strengthen the national ecosystem in the field.”
source: Wamda
Saudi Arabia-based digital freight network TruKKer, has raised $100 million in a pre-IPO round, led by Bahraini investment firm Investcorp who alone invested $51 million.
This investment is part of the recently launched Investcorp Saudi Pre-IPO Growth Fund LP, targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets within three years.
Founded in 2016 by Pradeep Mallavarapu and Gaurav Biswas, TruKKer currently serves over 700 enterprises and boasts a fleet of more than 40,000 trucks.
Last February, TruKKer raised $96 million in a mix of equity and debt for its Series B financing, led by ADQ and STV, with participation from Mubadala and other investors.
Press release:
Investcorp, a leading global alternative investment firm, today announced that Investcorp Saudi Pre-IPO Growth Fund LP led the Pre-IPO round in privately-held TruKKer Holding Limited, MENA’s largest digital freight network with a leading position across Saudi Arabia, the United Arab Emirates, Egypt and neighbouring countries. Investcorp led the initial close of this round with a $51 million investment alongside new and existing investors.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp commented: “Saudi Arabia is increasingly rich in highly investable companies, from fast-growth technology businesses like TruKKer to long-established family businesses that have grown consistently and are now looking for capital to implement more ambitious expansion plans. We are seeing a lot of interest in pre-IPO rounds as scale-ups secure greater market share and more Saudi businesses prove themselves successful on a national and regional basis.
TruKKer is just one example of the kind of company that we believe will prove attractive to institutional investors as the Saudi ecosystem matures, and our Pre-IPO fund will focus on exactly these kinds of high-growth businesses.”
“We are excited to add TruKKer to our portfolio and are keen to work with the founders of this regional champion to explore a possible market listing, as a continuation of our strategy and in line with our track record,” said Walid Majdalani, Head of Private Equity MENA and Southeast Asia at Investcorp.
“Thanks to its proprietary technology, TruKKer is ideally positioned to continue its strong growth while reducing carbon emissions across its markets. We look forward to our partnership with TruKKer and contributing our strategic and capital markets resources as well as our local and global insights to accelerate the company’s next phase of growth.”
This investment is part of the recently launched Investcorp Saudi Pre-IPO Growth Fund LP, targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets within 3 years. The fund provides investors with an opportunity to gain exposure to growing and market-leading businesses in strategic, high growth and underserved sub-sectors such as business services, transport and logistics, healthcare and consumer.
The United Arab Emirates and Saudi Arabia are key markets for TruKKer and represent a significant portion of the company’s revenues. The United Arab Emirates market has witnessed strong growth over the years in large part due to the development of UAE – KSA cross-border lanes with over 30,000 annual shipments transported by TruKKer, a key value proposition as the company continues to focus on scaling its network and looking to gain market share.
“TruKKer is at a key inflection point towards scaling its network and market share. Today, the company continues to grow exponentially serving over 700 B2B enterprise clients and is on track to cross $200 million in revenues in 2022. The TruKKer team is proud to be delivering on its vision of making a positive contribution to the community by having close to 10,000 drivers generating more than 70% of their monthly income on the TruKKer platform.
Our technology also enables us to optimize truckloads to reduce empty miles and idle time thereby helping us achieve our sustainability objectives.” commented Gaurav Biswas, Founder & CEO of TruKKer.
“We welcome Investcorp and are excited to partner with them through the next growth chapter of the company. Together with our partners, we look forward to continuing to bolster the company and create significant shareholder returns with a focus on healthy unit economics” adds Gaurav.
In 2008, Investcorp established a dedicated presence in Saudi Arabia, and TruKKer marks Investcorp’s eighth investment in the country, with multiple successful public listings on the Saudi Stock Exchange, including BinDawood Holdings, Theeb Rent A Car, Leejam Sports Company and L’Azurde.
source: Wamda
- KSA-based fintech HyperPay has raised $36.7 million in a funding round led by Mastercard, with participation from Amwal Capital Partners and AB Ventures.
- Founded in 2010 by Muhannad Ebwini, HyperPay is a payment gateway that offers merchants payment processing services, such as risk and fraud management, monitoring system, instalments and invoicing systems among others.
- This new funding round will support HyperPay’s regional expansion plans into Egypt, Qatar and Oman. It will also enable HyperPay to grow its tech team and invest in product research and development, to introduce new payment technology solutions with speed.
Press release:
KSA-based and MENA servicing payments services provider HyperPay has successfully raised $36.7 million (SAR 138 million) in a funding round led by Mastercard with investments from Amwal Capital Partners and AB Ventures. Founded by Muhannad Ebwini, HyperPay offers merchants a broad array of products and services in addition to payment processing, including risk and fraud management, monitoring system, instalments and invoicing systems among others.
The transaction with Mastercard will help accelerate HyperPay’s expansion beyond payments to deliver a complete suite of financial products that meet the evolving needs of its customers across all verticals.
The partnership will allow HyperPay to offer new services to help businesses, governments and SMEs move from cash-based payments to a frictionless and seamless ecosystem utilising the innovative capabilities of both HyperPay and Mastercard.
Muhannad Ebwini, Founder and CEO of HyperPay commented, “HyperPay is delighted to welcome Mastercard, Amwal, and AB Ventures as new investors and we are confident of the value-add they bring to our company to achieve its long-term growth strategy. This successful funding round is a testament of the investors' interest in the payments sector in KSA and the GCC as a whole and its attractive long-term perspectives.”
This new funding round will support HyperPay’s regional expansion efforts, broadening its market to Egypt, Qatar, and Oman. It will also enable HyperPay to grow its tech team and invest in product research and development, to introduce new payment technology solutions with speed.
“The proceeds from the round will be directed towards creating innovative solutions that will redefine the future of cashless payments in the MENA region. They will help us accelerate our growth beyond payments and allow us to deliver a wide array of products. We have earned our reputation by being quick to respond to the dynamic needs of our partners.” Ebwini concluded.
source: Wamda
المؤتمر العالمي لريادة الأعمال في الرياض 100 اتفاقية وتمويل بنحو 14 مليار دولار
01 Apr 2022 Written by Admin Adminعرفت المملكة العربية السعودية نمواً سريعاً في تمويل الشركات الناشئة خلال السنوات القليلة الماضية إذ باتت حصة الشركات الناشئة السعودية من التمويل الجريء تبلغ نحو 24% من إجمالي تمويل الشركات الناشئة في الشرق الأوسط، وهو ما جعلها تحتل المركز الثاني في تمويل الشركات الناشئة بعد الإمارات في عام 2021.
يأتي دعم نمو الاستثمار الجريء، وتوفير البيئة الاستثمارية المناسبة لازدهار الشركات الناشئة، في إطار رؤية 2030 لتنويع الاقتصاد السعودي. وفي هذا السياق أيضاً أتت استضافة مدينة الرياض للمؤتمر العالمي لريادة الأعمال تحت شعار "نعيد - نبتكر - نجدد" الذي استمرت أعماله على مدار 4 أيام (بين 26 و29 مارس/آذار)، وقد شارك في المؤتمر أكثر من 150 متحدثاً في أكثر من 100 جلسة نقاش، وذلك بحضور رواد أعمال ومستثمرين وصناع قرار من 180 دولة. جرى خلاله توقيع 100 اتفاقية وجولة تمويلية بقيمة إجمالي بلغت نحو 13.8 مليار دولار (أكثر من 51.8 مليار ريال سعودي). في السطور الآتية ستتعرف على أبرز الصفقات والاتفاقيات التي جرت خلال فعاليات المؤتمر.
برامج ومنتجات تمويلية بأكثر من 7.3 مليار ريال
وقعت الهيئة العاملة للمنشآت الصغيرة والمتوسطة "منشآت" مجموعة من اتفاقيات التعاون لإطلاق برامج ومنتجات تمويلية خلال السنوات الخمس القادمة مع عدد من البنوك، وتشمل الاتفاقيات الموقعة؛ اتفاقية مع مصرف الراجحي لإطلاق برامج ومنتجات تمويلية مبتكرة بقيمة ملياري ريال، واتفاقية مع بنك البلاد لتقديم برامج ومنتجات تمويلية مبتكرة بملياري ريال.
كما وقعت "منشآت" عدة اتفاقيات تعاون مع البنك العربي الوطني بقيمة إجمالي تفوق المليار ريال، وذلك في إطار إطلاق برامج ومنتجات التمويلية المبتكرة المبكرة. كذلك وقعت "منشآت" مع البنك العربي الوطني اتفاقية لإطلاق بطاقة الائتمان للمنشآت الصغيرة والمتوسطة بمبلغ 50 مليون ريال. كذلك وقع البنك الأهلي السعودية على اتفاقية تعاون لمنتج وبرامج تمويلية مبتكرة بقيمة مليار ريال، واتفاقية لدعم برنامج الابتكار بقيمة 2.7 مليون ريال.
"كفالة" 12 إتفاقية بـنحو 6 مليارات ريال
وقع برنامج ضمان التمويل للمنشآت الصغيرة والمتوسطة السعودي "كفالة" على 12 اتفاقية تعاون بقيمة بلغت نحو 6 مليارات ريال، هذا إلى جانب عدد من مذكرات التفاهم. وكان من بين أطراف الاتفاقيات الموقعة؛ وزارة النصاعة والثروة المعدنية، ووزارة الشؤون البلدية والقروية والإسكان، ووزارة الرياضة، وصندوق التنمية الثقافي وصندوق التنمية السياحي، وبرنامج تطوير الصناعات الوطنية "ندلب"، بالإضافة إلى جامعة الملك سعود، وجامعة الجوف، وشركة ركن العمل لحاضنات ومسرعات الأعمال.
بنك التنمية الاجتماعية السعودية يخصص 11 مليار لرواد الأعمال
أعلن بنك "التنمية الاجتماعية السعودي" خلال فعاليات المؤتمر عن تخصيصه لنحو 11 مليار ريال لتمويل شركات رواد الأعمال في المملكة، وذلك خلال السنوات الثلاث المقبلة. وقد وقع البنك مجموعة من الاتفاقيات مع عدد من الجهات، منها: الهيئة الملكية للجبيل وينبع، ومعهد ريادة الأعمال الوطني.
ضم 40 ألفاً شركة إلى أمازون السعودية
وقعت "منشآت" وعملاق تجارة التجزئة أمازون على مذكرة تفاهم لضم 40 ألفاً من المنشآت الصغيرة والمتوسطة لمتجرها في السعودية بحلول 2025، كما تضمنت المذكرة على دعم أمازون للمؤسسات الصغيرة والمتوسطة بالقدرات اللوجستية والأدوات والبرامج التي تقدمها امازون للبائعين.
صندوق للتمويل الأولي للشركات الناشئة بـ40 مليون دولار
وقعت الشركة السعودية لرأس المال الاستثماري (SVC) اتفاقية شراكة مع Flat6Labs تهدف إلى إطلاق "صندوق التمويل الأولي للشركات الناشئة" وبرنامج Flat6Labs Riyadh Seed لتمكين أكثر من 60 شركة ناشئة سعودية على مدى السنوات الثلاث المقبلة. وبحسب البيان الصحفي فإن هدف الصندوق خلال الاثني عشر شهراً القادمة، هو جمع 40 مليون دولار (150 مليون ريال)، للاستثمار في الشركات الناشئة في مراحلها الأولى العاملة في قطاعي التكنولوجيا والابتكار في المملكة العربية السعودية. حيث ستتراوح قيمة الاستثمار الذي ستحظى به كل الشركة ما بين 200 ألف دولار إلى 400 ألف دولار، كما تضمنت الاتفاقية تقديم برنامج Flat6Labs Riyadh Seed، والذي سيوفر لرواد الأعمال السعوديين برنامج تسريع البذور لمدة أربعة أشهر. هذا بالإضافة إلى التمويل الذي سيمكن الشركات من استكمال توسعها داخل وخارج المملكة العربية السعودية.
صندوق "سند2" لدعم تمويل الشركات الناشئة
أطلقت شركة سابك الرائدة في مجال إنتاج الكيماويات المتنوعة صندوق نساند "2" مع شركة الأهلي المالية بقيمة 750 مليون ريال لغرض الاستثمار في المشاريع الصغيرة والمتوسطة التي تنشط في القطاع الصناعي، وإتاحة الفرصة للشركات الناشئة في هذا القطاع للاستفادة من خبرات سابك والخدمات الاستثمارية لشركة الأهلي المالية، لدعم وتوطين التقنيات.
"طيران ناس" الأكبر في المنطقة
أقرّ مجلس إدارة شركة "طيران ناس"، الناقل الجوي السعودي الاقتصادي، طلب طائرات جديدة بعدد 250 طائرة، وبحسب بندر المهنا الرئيس التنفيذي لطيران ناس، بإن الطائرات الجديدة ستجعل طيران ناس أكبر شركة طيران اقتصادي في الشرق الأوسط وشمال أفريقيا.
Saudi Aramco joint venture to develop huge refinery, petrochemical complex in China
12 Mar 2022 Written by Admin AdminSaudi Arabian oil giant Aramco will invest in the development of a major integrated refinery and petrochemical complex in Northeast China.
Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group, will develop the liquids-to-chemicals complex, according to a statement from the oil giant.
The facility will be built in the city of Panjin, in China’s Liaoning Province and is expected to be operational in 2024.
Aramco will supply up to 210,000 barrels per day of crude oil feedstock to the complex. The greenfield project will include 300,000 bdp refinery capacity and petrochemical units.
Mohammed Al Qahtani, Aramco Senior Vice-President of Downstream, said: “Continued energy security remains a shared priority and this partnership represents another major milestone in our journey together, supporting China’s vision to create a modern economy grounded in innovation, ambition and sustainability. It will further support Aramco’s broader objective of becoming a global leader in liquids-to-chemicals.”
The decision, which is subject to finalization of transaction documentation, regulatory approvals and closing conditions, follows the establishment of HAPCO in December 2019 between the three partners.
Source: Zawya
