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Welcome to our Resource Center, your hub for the latest insights and updates in the MENA region. Explore our collection of blogs, discover funding deals, stay informed on government initiatives, and keep up with key business conferences

Government Initiative in Saudi Arabia

Read about all the government initiative in Saudi Arabia

Saudi Arabia

  •  January 31, 2025

Baker Hughes secured a contract to supply six gas compression trains and six propane compressors for the third ..Read More

Baker Hughes secured a contract to supply six gas compression trains and six propane compressors for the third expansion phase of Aramco’s Jafurah gas field in Saudi Arabia. Awarded by Tecnicas Reunidas, the order was booked in Q4 2024 and will leverage Baker Hughes' Dammam Center. This deal strengthens its long-standing partnership with Aramco, supporting Saudi Arabia’s energy development with advanced gas compression technology.
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Saudi Arabia

  •  January 29, 2025

Penspen closed 2024 on a strong note, securing $120 million in new contracts in H2, bringing total annual sale ..Read More

Penspen closed 2024 on a strong note, securing $120 million in new contracts in H2, bringing total annual sales to over $225 million—a 20% year-on-year growth. Major wins included 26 contracts in the Middle East & Africa ($98M), renewable energy projects in Saudi Arabia, and expansion in hydrogen and carbon capture in Europe. The company also increased its workforce in the UAE and Saudi Arabia to support rising demand and strengthened its UK footprint with the acquisition of C&I Engineering Solutions.
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Saudi Arabia

  •  January 29, 2025

ASFAR, the Saudi tourism investment company, has signed investment agreements with the Royal Commission for Ya ..Read More

ASFAR, the Saudi tourism investment company, has signed investment agreements with the Royal Commission for Yanbu to transform Yanbu into a premier tourist destination. The partnership, involving Baheej, focuses on developing four projects along the waterfront, including a resort, hotel, restaurants, and a diving academy. This initiative aligns with Saudi Vision 2030, aiming to boost tourism and economic diversification along the Red Sea coast.
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Saudi Arabia

  •  January 29, 2025

Basic Chemical Industries Company (BCI), Saudi Arabia, signed a €14.7 million contract with ThyssenKrupp to ..Read More

Basic Chemical Industries Company (BCI), Saudi Arabia, signed a €14.7 million contract with ThyssenKrupp to expand its chlor-alkali plant in Jubail. The project includes engineering, equipment supply, spare parts, and advisory services for commissioning and startup using membrane technology. The contract, which also includes a non-exclusive license, will be completed in 19 months.
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Saudi Arabia

  •  January 28, 2025

NEOM has secured a $3 billion export credit agency (ECA) financing deal with Italy’s SACE, marking its first ..Read More

NEOM has secured a $3 billion export credit agency (ECA) financing deal with Italy’s SACE, marking its first corporate ECA financing and the largest untied financing guaranteed by SACE. The funding, backed by a syndicate of nine international banks, will support NEOM’s development across infrastructure, urban projects, and transport. The deal strengthens NEOM’s collaboration with Italian suppliers, who have already secured $6.3 billion in contracts, aligning with Saudi Vision 2030’s goal of attracting foreign investment.
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Saudi Arabia

  •  January 28, 2025

The Saudi Investment Recycling Company (SIRC) has awarded NAZ Steel Industries a contract to design, supply, a ..Read More

The Saudi Investment Recycling Company (SIRC) has awarded NAZ Steel Industries a contract to design, supply, and erect pre-engineered buildings for three medical waste recycling facilities in Jeddah, Riyadh, and Dammam. The project, aligned with Saudi Vision 2030, will be completed in four months. NAZ Steel Industries, specializing in steel structures and pre-engineered buildings, sees this as a significant milestone in supporting waste treatment sector transformation.
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Saudi Arabia

  •  January 28, 2025

Saudi Telecom Company (stc) has signed a contract worth SAR 32.64 billion with a government entity for telecom ..Read More

Saudi Telecom Company (stc) has signed a contract worth SAR 32.64 billion with a government entity for telecommunications infrastructure services. Under the contract, stc will build, operate, and provide the required services, with an 18-month preparation and execution period, followed by 15 years of operation.
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Saudi Arabia

  •  January 28, 2025

Saudi Arabia Railways (SAR) and Italian luxury hospitality company Arsenale have unveiled the final designs fo ..Read More

Saudi Arabia Railways (SAR) and Italian luxury hospitality company Arsenale have unveiled the final designs for Dream of the Desert, the Middle East’s first five-star luxury train. Featuring 34 luxury suites across 14 carriages, the train blends modern opulence with Saudi heritage, offering an exclusive travel experience aligned with Saudi Vision 2030. Departing from Riyadh, it will traverse the Northern Railway network, integrating cultural programs, fine dining, and curated art to immerse passengers in Saudi traditions.
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