Saudi Arabia plans to raise $55bn from privatization – Saudi Arabia Saudi Arabia aims to secure about $55 billion out of this privatization plan, of which $16.5 billion in the form of public-private partnerships, Minister of Finance Muhammad Al-Jadaan said on Thursday. Al-Jadaan the remarks during the high-level “G20 Infrastructure Investors Dialogue: Financing Sustainable Infrastructure for the Recovery“ event which was attended by G20 finance ministers, international and regional organizations, and major investors and asset managers representing the private sector. Al-Jadaan pointed out that the Kingdom has recently announced a privatization plan that includes a pipeline of 160 projects across […] Saudi Arabia plans to raise $55bn from privatization – Saudi ArabiaDME GmbH2021-06-04T09:55:40+02:00
GE, Shandong Tiejun complete substation for Saudi’s Rabigh-3 IWP – Saudi Arabia An Independent Water & Power (IWP) bulk supply joint project from Rabigh Three Company, co-owner, and operator of Rabigh-3 IWP plant, was secured by GE’s Grid Solutions. The Rabigh-3 IWP is majority-owned by ACWA Power. Meanwhile, the original agreement for the contract was signed between GE’s Grid Solutions and Shandong Tiejun Electric Power Engineering Co with project ownership under Rabigh Three Company. GE’s Grid Solutions completed the design, civil works, equipment supply, installation, testing, and commissioning of the 380/110 kV substation despite the challenges of the COVID-19 pandemic. The […] GE, Shandong Tiejun complete substation for Saudi’s Rabigh-3 IWP – Saudi ArabiaDME GmbH2021-06-02T15:44:53+02:00
Water Ministry proceeds with Amman-Aqaba water desalination project – Jordan The Ministry of Water and Irrigation said that there have been no official notifications from the World Bank (WB) regarding the Red-Dead Water Conveyance project, and that the ministry has not contacted the bank either. The Amman-Aqaba Water Desalination and Conveyance National Project (AAWDC), which was launched in February 2020, will move forward unaffected, Spokesperson of the Ministry of Water and Irrigation Omar Salameh told The Jordan Times on Sunday. “The AAWDC has nothing to do with the Red-Dead Water Conveyance Project and the ministry continues to put forth […] Water Ministry proceeds with Amman-Aqaba water desalination project – JordanDME GmbH2021-05-31T14:44:59+02:00
Saudi Arabia seeks to fast-track use of renewable energy in desalination – Saudi Arabia Saline Water Conversion Corporation (SWCC) Governor Abdullah Ibrahim Al-Abdulkareem and Al-Jouf University President Mohammed Bin Abdullah Al-Shaya signed a memorandum of understanding with an aim to enhance and facilitate means of expertise and knowledge exchange between the two sides. The MoU also seeks to expand bilateral cooperation in a way that enables developing, conducting, and following up on research and training projects related to the industry of water desalination. This MoU is part of SWCC’s commitment to building fruitful strategic partnerships with Saudi universities, enhancing cooperation means in fields […] Saudi Arabia seeks to fast-track use of renewable energy in desalination – Saudi ArabiaDME GmbH2021-05-30T09:31:49+02:00
Spanish firm wins contract to design new water project in Oman – Oman Spanish based international engineering consultant Savener has announced that it has been awarded a contract to undertake the engineering design of a new desalination plant due to come up at Barka in South Al Batinah Governorate. Savener, a global grouping of consultants with expertise ranging from aeronautics and water desalination to energy efficiency and civil architecture, says the contract was awarded by the partnership of GS Inima of Spain and Italian Fisia Italimpianti of Italy. The latter partnership is the Engineering Procurement Construction (EPC) contractor for the so-called Barka-V […] Spanish firm wins contract to design new water project in Oman – OmanDME GmbH2021-05-26T18:20:22+02:00
Saudi Arabia hopes to raise $55bn through privatisation – Saudi Arabia Saudi Arabia hopes to raise about $55bn over the next four years as it plans to step up its nascent privatisation programme with the government seeking to boost revenue and narrow its yawning budget deficit. Mohammed al-Jadaan, the finance minister, told the Financial Times that Riyadh had identified a pipeline of 160 projects across 16 sectors, including asset sales and public-private partnerships, through to 2025. Riyadh’s aim is to outsource the management and financing of health infrastructure and services to the private sector, as well as city […] Saudi Arabia hopes to raise $55bn through privatisation – Saudi ArabiaDME GmbH2021-05-24T12:18:16+02:00
Saudi power developer starts construction on South Africa’s largest renewable project – Saudi Arabia Saudi-based ACWA Power, an investor and operator of power generation and water desalination plants, has announced the start of construction on the 100MW Redstone solar thermal project in South Africa following financial close. At ZAR11.6 billion ($830 million) total investment, the Redstone project is the largest renewable energy investment in South Africa to date. The project has secured financing from international and South African financial institutions and has facilitated approximately ZAR7 billion in foreign direct investment to fund and support the strategic energy transition goals of the country. Saudi power developer starts construction on South Africa’s largest renewable project – Saudi ArabiaDME GmbH2021-05-13T15:55:44+02:00
SHUAA sells 20% stake in Mirfa International Power and Water Company to Japanese Sojitz – United Arab Emirates SHUAA Capital, an asset management and investment banking platform in the region, has divested its 20 percent equity stake in Mirfa International Power and Water Company (MIPCO), to Japanese group, Sojitz Corporation (Sojitz). MIPCO was established in 2014 in Abu Dhabi as the 10th project in the private power and water sector launched under the Department of Energy’s privatisation programme, according to a SHUAA Capital statement on Thursday. The company has developed and operated a power generation and seawater desalination plant in the Al Dhafra region of Abu Dhabi, […] SHUAA sells 20% stake in Mirfa International Power and Water Company to Japanese Sojitz – United Arab EmiratesDME GmbH2021-05-09T21:02:45+02:00
Doosan Heavy Industries & Construction Finds Way Out of Deficits in Saudi Arabia – Saudi Arabia Hit hard by the Korean government’s ill-advised nuclear phase-out policy, Doosan Heavy Industries & Construction (DHIC) has been desperate to make a turnaround. The company announced on April 28 that it managed to turn a profit in the first quarter on a rebound in overseas sales. DHIC posted 4,004.7 trillion won in sales, 372.1 billion won in operating profit and 248.1 billion won in net profit in the first quarter on a consolidated basis. Its sales rose slightly on year while operating profit and net profit soared by 315.6 […] Doosan Heavy Industries & Construction Finds Way Out of Deficits in Saudi Arabia – Saudi ArabiaDME GmbH2021-04-29T16:02:48+02:00
Utico wins Hassyan water reservoir project contract – United Arab Emirates Utico, a full service utility company in Middle East and the only private water and power company in the UAE, said it has secured a a major contract from Dubai Electricity and Water Authority (Dewa) for the development of its 120 million imperial gallons (MIG) Hassyan water reservoir project. The Hassyan IWP project’s storage reservoir is for 60 MIG expandable to 120 MIG, while the desalination plant project capacity is 120 MIG per day with facilities to expand to 240 MIGD production per day. This $80-million contract […] Utico wins Hassyan water reservoir project contract – United Arab EmiratesDME GmbH2021-04-20T16:39:52+02:00