Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi ..Read More

Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi Fransi (BSF) to fund the Wadi Safar masterplan, a 62 sq km ultra-luxury residential development featuring hotels, a golf course, and leisure facilities. This follows a USD 2.13 billion (SAR 8 billion) construction contract awarded in July 2024 for the Royal Equestrian & Polo Club and four luxury hotels. Diriyah, supported by PIF, aims to create 178,000 jobs, attract 50 million annual visitors, and contribute USD 18.6 billion to Saudi Arabia’s GDP.
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• Construction
• Finance

Siemens Energy secured a USD 1.6 billion contract, with Harbin Electric International as EPC contractor, to su ..Read More

Siemens Energy secured a USD 1.6 billion contract, with Harbin Electric International as EPC contractor, to supply key technologies for the 1.8 GW Rumah 2 and 1.8 GW Nairyah 2 gas-fired power plants in Saudi Arabia, expected to reduce CO2 emissions by 60%. Core components will be manufactured at Siemens Energy’s Dammam Hub, supporting Saudi Arabia’s energy transition towards net-zero by 2060. The plants will begin operating in simple cycle mode by 2027 and transition to combined-cycle mode by 2028.
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• Power

Diriyah Company launched its Media and Innovation District at MIPIM in Cannes, spanning 250,000 sq m of office ..Read More

Diriyah Company launched its Media and Innovation District at MIPIM in Cannes, spanning 250,000 sq m of office GFA, 450 residential homes, and 15,000 sq m of retail space, including the 325-room 1 Hotel Diriyah. The district will host global media and tech leaders, promoting sustainability and innovation. MIPIM 2025 also announced Armani Residences Diriyah with 15 curated homes by Giorgio Armani. As part of the $63.2 billion Diriyah masterplan, the project will create 178,000 jobs, attract 50 million visits annually, and contribute $18.6 billion to Saudi Arabia’s GDP.
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• Construction

Diriyah Company announced the launch of Armani Residences Diriyah, featuring 15 bespoke homes curated by Giorg ..Read More

Diriyah Company announced the launch of Armani Residences Diriyah, featuring 15 bespoke homes curated by Giorgio Armani, marking Armani’s debut in Saudi Arabia. Located in Diriyah Square, the residences range from 1,200 to 1,900 sq m, with luxury amenities, private pools, and exclusive access to Armani Hotel Diriyah’s facilities. Part of Diriyah’s growing branded residences portfolio, including Baccarat, Corinthia, Raffles, and Ritz-Carlton, this project aligns with Diriyah’s vision to house over 100,000 residents and enhance its luxury living offerings.
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• Construction

Alandalus Property Company signed a 10-year agreement with Emerge, a Masdar-EDF Group joint venture, to instal ..Read More

Alandalus Property Company signed a 10-year agreement with Emerge, a Masdar-EDF Group joint venture, to install rooftop solar PV systems with a total capacity of 3.4 MWp at Hayat Mall in Riyadh and Alandalus Mall and Hotel in Jeddah. Emerge will finance, design, build, and maintain the systems, supporting Saudi Arabia’s Vision 2030 and Alandalus’s ESG goals. The agreement marks a significant step toward promoting renewable energy and sustainability.
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• Power

DP World and Saudi Ports Authority (Mawani) have inaugurated the upgraded South Container Terminal at Jeddah I ..Read More

DP World and Saudi Ports Authority (Mawani) have inaugurated the upgraded South Container Terminal at Jeddah Islamic Port, a key part of DP World’s SAR 3 billion ($800 million) expansion. The terminal’s capacity has more than doubled from 1.8 million TEUs to 4 million TEUs, with plans to scale up to 5 million TEUs. Equipped with automation, AI-powered tracking, and an expanded reefer capacity (from 1,200 to 2,340), the terminal enhances efficiency and trade connectivity under Saudi Vision 2030. Adjacent to it, the 415,000 sqm Jeddah Logistics Park, set for completion by Q2 2026, will further boost trade across Asia, Africa, and Europe.
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• Transport

Petro Rabigh and Rossari International Limited have signed an MoU under the Ministry of Energy’s patronage t ..Read More

Petro Rabigh and Rossari International Limited have signed an MoU under the Ministry of Energy’s patronage to explore Propoxylates and Ethoxylates manufacturing in Rabigh. The collaboration aims to strengthen Saudi Arabia’s specialty chemicals industry by supporting local production, reducing import dependency, and driving innovation in sectors like construction and personal care. Aligned with Vision 2030, the initiative will enhance industrial self-sufficiency and contribute to the Kingdom’s economic growth.
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• Petrochemical

MAIRE’s NEXTCHEM, through its subsidiary NextChem Tech, has secured a three-year contract from SATORP (a Sau ..Read More

MAIRE’s NEXTCHEM, through its subsidiary NextChem Tech, has secured a three-year contract from SATORP (a Saudi Aramco-TotalEnergies JV) to provide engineering and technology services for the Sulphur Recovery Complex at SATORP’s Jubail refinery. The scope includes process advisory, operational troubleshooting, energy efficiency improvements, and carbon footprint reduction for the Sulfur Recovery Unit, Amine Regeneration Unit, and Sour Water Stripper. This contract strengthens NEXTCHEM’s role as a leader in sustainable technology and enhances its collaboration with SATORP, following TECNIMONT’s Amiral project award in June 2023.
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• Petrochemical