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

Dar Global has awarded the enabling works contract for the SAR 2 billion ($531 million) Trump Tower Jeddah to ..Read More

Dar Global has awarded the enabling works contract for the SAR 2 billion ($531 million) Trump Tower Jeddah to Specialized Italian Foundation Co. Ltd. (SIFCO), a Saudi-foreign investment firm specializing in deep foundation construction. Located on Jeddah’s Corniche, the 47-floor tower will introduce an exclusive lifestyle concept, including Saudi Arabia’s first Trump Club. Dar Global is also developing 200 premium villas in Riyadh as part of its vision to bring international luxury standards to Saudi Arabia’s real estate market.
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• Construction

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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• Oil & Gas

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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• Power

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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• Construction
• Tourism

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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• Petrochemical

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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• NEOM