Saudi Focus

Saudi Arabia’s construction industry witnessed a strong uptick during the first quarter on the back of SR48.9 billion ($13.3 billion) worth of awarded contracts mainly in the energy and utility sectors, according to a report by the US-Saudi Arabian Business Council (USSABC).

The heating, ventilation, air-conditioning and refrigeration (HVAC-R) sector in Saudi Arabia is poised for solid growth over the next five years with the kingdom’s market growing at a CAGR of 11.9 per cent during 2019-2024, said a report by Research and Markets. The Saudi HVAC-R market is set to hit $7.1 billion by 2024 from $3.

Marubeni Corporation, a leading developer and operator of international power projects, said its consortium has started work on the Shuqaiq 3 independent water project (IWP) following the closing of a major project finance agreement.

Al Salem Johnson Controls (York), a leading provider of integrated heating, ventilation and air-conditioning (HVAC) solutions and equipment, said it has relocated its new factory to Industrial Valley in the King Abdullah Economic City (KAEC).

Veolia, a global leader in optimised resource management, said it is working closely with Saudi dam contractors to deploy its advanced purification solutions in the kingdom.

Saudi Arabia’s Water & Electricity Company (WEC) said 10 global industry giants have been prequalified to bid for the development of an independent sewage treatment plant (ISTP) near the city of Taif.

The Arab Petroleum Investments Corporation (Apicorp) has signed a strategic five-year Murabaha financing facility worth $75 million with Saudi-based alfanar Company, a top developer and EPC for clean energy and manufacturer of electrical products.

In line with its strategy to expand and promote itself as a leading provider of integrated solutions for conventional and sustainable energy, the Saudi-headquartered alfanar recently participated in the Hannover Messe International Industrial Fair 2019, the world’s largest showcase for industrial technology held in Hannover, Germany, from Apr

Qiddiya names development officer Saudi-based Qiddiya Investment Company (QIC) has appointed Kareem Shamma as the new chief development officer for its entertainment, sports and cultural destination coming up in capital Riyadh.