Mabanee’s KSA subsidiary has signed two contracts worth SAR 1.13 billion for Phase 2 (Towers) of The Avenues ..Read More

Mabanee’s KSA subsidiary has signed two contracts worth SAR 1.13 billion for Phase 2 (Towers) of The Avenues Riyadh. Alghanim International Al Saudia will construct three towers for SAR 656 million, while Al-Ahmadiah Contracting & Trading Company will build two towers for SAR 475 million. The project is set to be completed within 24 to 33 months from the start date.
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• Construction

Alghanim Industries has broken ground on a new 256,000 sqm Kirby Building Systems facility in Sudair Industria ..Read More

Alghanim Industries has broken ground on a new 256,000 sqm Kirby Building Systems facility in Sudair Industrial City, Saudi Arabia, with an annual production capacity of 100,000 metric tons each of structural steel and PEB. This investment supports Vision 2030 by boosting Saudi Arabia’s export capabilities and positioning the Kingdom as a global hub for high-quality steel structures. The facility will create local employment, enhance expertise in steel fabrication, and supply international markets across the GCC, Africa, India, and Southeast Asia.
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• Manufacturing

MODON, in collaboration with NCP, has launched an EOI for the Logistics Zone Development in Dammam 2nd Industr ..Read More

MODON, in collaboration with NCP, has launched an EOI for the Logistics Zone Development in Dammam 2nd Industrial City under a PPP (DBFOMT) model for 30 years. Spanning 850,000 sqm, the project will enhance Saudi Arabia’s logistics infrastructure, supporting Vision 2030. The private sector partner will finance, design, build, operate, and commercialize modern logistics and warehousing facilities, boosting trade and industrial expansion.
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• Construction
• PPP

ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP ..Read More

ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP Expansion Project, a 3,010 MW CCGT power plant in Saudi Arabia’s Eastern Province. The 25-year project, with 40% stakes each for ACWA and SEC, includes carbon capture readiness and aims to enhance power generation efficiency, support Vision 2030, and reduce reliance on liquid fuels.
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• Power
• PPP

ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and ..Read More

ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and 1.11 million m³/day of desalination assets in Kuwait and Bahrain. The deal includes stakes in Az Zour North (18%), Al Ezzel (45%), Al Dur (45%), and Al Hidd (30%), along with O&M companies. This acquisition aligns with ACWA Power’s goal of tripling assets to $250 billion by 2030, pending regulatory approvals. Goldman Sachs Saudi Arabia acted as the financial advisor.
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• Power

ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Ar ..Read More

ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Arabia, featuring Siemens SF6-free Blue GIS technology, reducing environmental impact. This marks ELSEWEDY’s third substation project with National Grid SA, following Riyadh and Naqua substations. The company will handle design, procurement, construction, and commissioning, reinforcing Saudi Arabia’s energy infrastructure and supporting Vision 2030.
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• Power

Al Yamamah Steel Industries Co. has secured a SAR 112.9 million contract to supply steel towers to National Po ..Read More

Al Yamamah Steel Industries Co. has secured a SAR 112.9 million contract to supply steel towers to National Power Construction Corporation Limited for a 380 kV ultra-high-voltage line project in Saudi Arabia’s western region. The contract duration is one year. Earlier, the company was awarded $82.4 million in contracts from L&T.
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• Power

Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured tw ..Read More

Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured two contracts worth $275 million with a three-year duration, booking the first option period in Q4 2024. In UAE, it won a $200 million follow-on program and construction management contract in Dubai. Total Q4 revenue rose 16% to $1.7 billion, driven by 14% organic growth and acquisitions, with strong gains in critical infrastructure protection and cyber markets.
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• Construction