Saudi Arabia has announced a SR700 billion ($186.63 billion) investment in developing a green economy and is spearheading a region-wide initiative to combat climate change and reduce carbon emissions.
HUAWEI Digital Power has signed a key contract with Sepco III for The Red Sea Project to provide 400 MW photovoltaic (PV) plus 1300 MWh battery energy storage solution (BESS), which is currently the world’s largest energy storage project. The contract was announced at the Global Digital Power Summit 2021 in Dubai, UAE.
PLANS for the world’s first tourism destination on offshore platforms that will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences have been unveiled by Saudi Arabia’s Public Investment Fund (PIF). Known as ‘The Rig.
THE Sports Boulevard Foundation has awarded contracts worth SR2.5 billion ($665 million) to multiple Saudi companies for the construction of Phase One of its ambitious wellness project in the capital Riyadh.
SAUDI ARABIA, advised by the world’s largest fund manager BlackRock, has launched a national infrastructure fund to support up to SR200 billion ($53 billion) in projects over the next decade, reported Reuters.
SAUDI ARABIA’S Ministry of Energy has announced that Acwa Power, a leader in power generation and water desalination plants, and French group Total Solar have emerged as major bidders for four solar energy projects in the kingdom with a total capacity of 1,200 MW.
Sakan to build 5,000 homes SAUDI ARABIA’S National Developmental Housing Corporation (Sakan) has signed an agreement worth SR1.62 billion ($432 million) with Al Birr Charitable Society to build 5,000 new homes for the needy families in the Riyadh region.
SAUDI ARABIA and Egypt have signed contracts with three consortiums of international and local companies to connect the two nation’s power grids in a project worth $1.8 billion.
MAJID AL FUTTAIM, a leading shopping mall, communities, retail and leisure pioneer in the region, has appointed Mace, a global consultancy and construction company, to support the delivery of its flagship SR16-billion ($4.
Baker Hughes, a global energy technology company, has broken ground at King Salman Energy Park (Spark) on the construction of its Oilfield Services (OFS) regional hub, its largest assembly, maintenance, and overhaul hub in the Eastern Hemisphere.
