ROSHN Group, Saudi Arabia’s leading real estate developer and a PIF company, secured a SAR 2 billion Shariah ..Read More

ROSHN Group, Saudi Arabia’s leading real estate developer and a PIF company, secured a SAR 2 billion Shariah-compliant credit facility from Saudi National Bank for seven years to finance the acquisition of ROSHN Front. This acquisition expands ROSHN into commercial and retail sectors, with ROSHN Front attracting over 7 million visitors annually. The property includes 81,800 sqm of retail space and 78,900 sqm of business space, enhancing tenant experience and boosting long-term growth.
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• Finance

The Iraqi Ministry of Electricity signed three contracts with Linxon to rehabilitate 400 kV BSP stations in No ..Read More

The Iraqi Ministry of Electricity signed three contracts with Linxon to rehabilitate 400 kV BSP stations in North Baghdad, South Baghdad, and Diyala, under SEK and EKN loans. Signed by Riyad Uraibi Muklf and Hassan Merhi, the contracts aim to upgrade electrical equipment, enhance protection and control systems, and improve infrastructure. This initiative, directed by Minister Zeyad Ali Fadhil, seeks to strengthen Iraq’s Electrical Super Grid for continuous and efficient operation.
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• Power

Abraj Energy Services, Oman, secured an extension for three rigs with Petroleum Development Oman (PDO), with t ..Read More

Abraj Energy Services, Oman, secured an extension for three rigs with Petroleum Development Oman (PDO), with two rigs extended until December 2026 and one until January 2027, generating approximately OMR 9 million in revenue. The extension reflects Abraj’s strong performance and commitment to operational excellence and HSE standards, supporting Oman’s energy vision.
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• Oil & Gas

The Ministry of Energy and Minerals, Oman, announced new investment opportunities in Oil and Gas Blocks 36, 43 ..Read More

The Ministry of Energy and Minerals, Oman, announced new investment opportunities in Oil and Gas Blocks 36, 43A, and 66 in collaboration with OQ Exploration and Production (OQEP) and Scotiabank. The initiative aims to attract investments in Oman’s exploration and production sector. Awarding of the blocks is subject to signing necessary Concession Agreements and issuance of Royal Decrees by His Majesty The Sultan.
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• Oil & Gas

L&T’s Minerals & Metals (M&M) business will establish a Pellet Plant and a Direct Reduction of Iron (DRI) Pl ..Read More

L&T’s Minerals & Metals (M&M) business will establish a Pellet Plant and a Direct Reduction of Iron (DRI) Plant for a leading steel producer in the MENA region, as part of a major order aligned with global decarbonization efforts. The project includes design, engineering, supply, erection, and construction using globally recognized technologies. This reinforces M&M’s leadership in executing complex steel plant projects in the MENA region, ensuring quality, safety, and timely completion.
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• Manufacturing

Raissy Trading & Contracting Co. Ltd., Saudi Arabia, has been awarded two projects from Saudi Electricity Comp ..Read More

Raissy Trading & Contracting Co. Ltd., Saudi Arabia, has been awarded two projects from Saudi Electricity Company (SEC) with a combined value of $143 million. The Al Jillah OHTL Project ($117 million) includes a new overhead transmission line (OHTL), underground cable (UGC) installation, electro-fitting, and substation activities. The Al Rain OHTL Project ($26 million) involves a new OHTL, UGC installation, and related activities.
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• Power

The Royal Commission for Riyadh City (RCRC) has launched the second phase of the Main and Ring Road Developmen ..Read More

The Royal Commission for Riyadh City (RCRC) has launched the second phase of the Main and Ring Road Development Program, comprising eight projects worth over SAR 8 billion to enhance Riyadh’s transportation network, aligning with Vision 2030. Key projects include developing Prince Turki bin Abdulaziz Al-Awwal Road, Al-Thumama Road, Dirab Road, and Imam Muslim Road, among others, with improvements such as new intersections, bridges, and tunnels to increase road capacities. The projects, expected to be completed in three years, follow the first phase launched on August 14, 2024, which included four projects worth SAR 13 billion.
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• Construction

Svitzer has signed a 9-year terminal towage contract with Oman LNG to provide four new 65-ton bollard pull azi ..Read More

Svitzer has signed a 9-year terminal towage contract with Oman LNG to provide four new 65-ton bollard pull azimuth stern drive tugs for berthing and unberthing at Qalhat LNG Terminal starting in 2026. The contract includes towage, firefighting, escort, pilot boarding, and dive support services. Svitzer, operating in Oman since 2005, strengthens its position with this agreement, aligning with its growth strategy.
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• Oil & Gas