Saudi Focus

Saudi-based Acwa Power said its consortium with Gulf Investment Corporation and Al Bawani Water & Power Company has signed a major water purchase agreement with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project being built at an investment of $650 million in Jubail city.

Raza, the real estate arm of Saudi Public Pension Agency and a subsidiary of Al Ra’idah Investment Company, said work is well advanced on two of its major residential developments in the kingdom – East Village and Jeddah Obhur City – which are due for delivery in the third quarter.

The Saudi government’s drive to increase home ownership for nationals continued to gather momentum in the first quarter of this year, according to JLL, a specialist in real estate and investment management.

Nusaned Investment, an investment company owned by Saudi petrochemical giant Sabic, and Germany-based Schmid Group have signed an agreement to jointly set up a factory  named Vanadium Redox Flow Batteries (VRFB) in Dammam.

Saudi Arabia’s The Agency for Projects and Engineering at the General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque has granted permisson for the resumption of expansion work at the Grand Mosque, reported Saudi Press Agency (SPA).

Saudi Arabia’s biggest construction firm Binladin Group cut jobs and reduced staff salaries as it navigates the fallout of the coronavirus pandemic, reported Bloomberg.

The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism initiatives, has awarded a solid waste management contract to a joint venture between leading waste management company Averda and the Saudi Naval Support Company (SNS).

Doosan Bobcat, a world leader in the manufacture of compact construction machines, said one of its units, Doosan Portable Power (DPP), has delivered over $2 million worth of new portable compressors to Machinery Rental Alternatives Company (Ejar), a leading rental business based in Jeddah, Saudi Arabia.

US-based Fluor Corporation said that it has been named project management consultant for Advanced Global Investment Company’s (AGIC) new propane dehydrogenation, polypropylene and utilities and offsites complex in Jubail Industrial City.

Prince Faisal bin Salman bin Abdulaziz, Governor of Madinah Region, has inaugurated a number of new health projects implemented by the Ministry of Health in Madinah Region, with a total value exceeding SR628 million ($167 million).

GACA in tie-up to build mosque the General Authority of Civil Aviation (GACA) of Saudi Arabia has signed an agreement with Road Side Mosques Association aiming to finance the construction of a mosque for employees of the authority on one of the vital highways.