ACWA Power, in partnership with HAU Energy, has achieved financial close for the 1.1GW Suez Wind Farm in Egypt ..Read More

ACWA Power, in partnership with HAU Energy, has achieved financial close for the 1.1GW Suez Wind Farm in Egypt, the largest single-contracted wind farm in the Middle East. The project, valued at $1.2 billion, will contribute to Egypt's renewable energy goals, reducing CO2 emissions by 1.1 million tonnes annually. It secured a $703.6 million debt facility from a consortium of banks and is expected to begin operations by Q2 2027.
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• Finance

ADES Holding Company, Saudi Arabia, has secured a Letter of Award (LOA) from PTTEP Energy Development Company ..Read More

ADES Holding Company, Saudi Arabia, has secured a Letter of Award (LOA) from PTTEP Energy Development Company for a five-year offshore jack-up drilling contract in the Gulf of Thailand, with an estimated backlog of SAR 1.035 billion. The contract includes the deployment of the Admarine 503 rig, strengthening ADES’ presence in Southeast Asia, where it now operates five jack-up rigs. This milestone reflects ADES’ agility in redeploying rigs and reinforces its strategic commitment to the region, contributing to its strong financial outlook for the year.
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• Oil & Gas

East Pipes Integrated Company for Industry has secured contracts worth SAR 57 million from Saudi Real Estate I ..Read More

East Pipes Integrated Company for Industry has secured contracts worth SAR 57 million from Saudi Real Estate Infrastructure Company (Binyah) and Al Rashid Trading and Contracting Company. The contracts, set to last seven months, involve manufacturing and supplying steel pipes with coating applications. The financial impact will be reflected in the first and second quarters of the 2025/2026 financial year.
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• Manufacturing

Red Sea International Company's subsidiary, The Fundamental Installation for Electric Work Co. Ltd., signed a ..Read More

Red Sea International Company's subsidiary, The Fundamental Installation for Electric Work Co. Ltd., signed a SAR 318.9 million contract with Modern Building Leaders Co. to deliver mechanical, electrical, and plumbing (MEP) works. The 13-month contract includes supply, installation, testing, and commissioning of MEP systems, showcasing the subsidiary's expertise as a leading MEP contractor in Saudi Arabia.
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• Construction

The Knowledge Economic City in Saudi Arabia has signed a SAR 502.9 million contract with China Gezhouba Group ..Read More

The Knowledge Economic City in Saudi Arabia has signed a SAR 502.9 million contract with China Gezhouba Group International Engineering Company (CGGC) for construction, electromechanical, and finishing works for seven residential towers in the Al-Alya Project's first phase. Spanning 270,000 square meters, the Al-Alya Project integrates residential, business, and entertainment facilities, including apartments, villas, hotels, and a central park to enhance quality of life. The contract duration is 30 months.
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• Construction

The Knowledge Economic City (KEC) in Saudi Arabia has awarded a SAR 232.8 million contract to Alfaneyah Electr ..Read More

The Knowledge Economic City (KEC) in Saudi Arabia has awarded a SAR 232.8 million contract to Alfaneyah Electromechanical Company for electromechanical works on the Hilton Hotel Tower and the branded residences tower within the KEC Hub Project. The 18-month contract includes electrical, mechanical, and plumbing works for the towers, which feature 384 five-star hotel units and 66 luxury residences. Located in Medina, the project integrates recreation, shopping, and entertainment, with a public park and a boulevard offering diverse services.
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• Construction

Aramco has partnered with Carbon Clean and SAMSUNG E&A to demonstrate CycloneCC, an innovative carbon capture ..Read More

Aramco has partnered with Carbon Clean and SAMSUNG E&A to demonstrate CycloneCC, an innovative carbon capture technology. The compact, modular system, designed to capture CO2 from natural gas turbine exhaust streams, aims to reduce the cost and footprint of carbon capture systems by up to 50% while maintaining high efficiency. The project will test the technology under real-world conditions, supporting Aramco's carbon-reduction goals.
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• Oil & Gas

PVH Middle East has expanded its manufacturing headquarters in Jeddah, Saudi Arabia, covering over 100,000 m² ..Read More

PVH Middle East has expanded its manufacturing headquarters in Jeddah, Saudi Arabia, covering over 100,000 m². The facility, which creates over 400 jobs with 40% local Saudi talent, will produce 12GW of solar technology. With a 35% local content score, PVH emphasizes its commitment to sustainability and the region’s economy, reinforcing its position as a leading manufacturer of solar tracking solutions.
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• Manufacturing