Saudi Water Partnership Company signed agreements for the Ras Mohaisen Independent Water Plant Project, locate ..Read More

Saudi Water Partnership Company signed agreements for the Ras Mohaisen Independent Water Plant Project, located in Al-Qunfudhah, Makkah Region, with a capacity of 300,000 cubic meters/day of desalinated water. Set to begin operations in Q1 2028, the BOO project will use reverse osmosis technology to enhance efficiency and reduce costs. 44 companies showed interest, with ACWA Power, Hajj Abdullah Ali Reza & Partners, and Al-Kifah Holding Company winning the bid. This initiative aligns with Vision 2030, increasing private sector participation in water infrastructure.
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• PPP
• Water

ACWA Power signed a SAR 2.5 billion Water Purchase Agreement (WPA) with SWPC for a 300,000 m³/day reverse osm ..Read More

ACWA Power signed a SAR 2.5 billion Water Purchase Agreement (WPA) with SWPC for a 300,000 m³/day reverse osmosis desalination plant at Ras Mohaisen, Saudi Arabia. The project includes 600,000 m³ potable water tanks and will be developed under a 25-year contract. ACWA Power holds a 45% stake, with the plant located 300 km south of Makkah on the Red Sea coast.
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• Water

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

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