National Industrialization Co () and Sahara Petrochemical have agreed a 5.09 billion riyal ($1.36 billion) loan with nine local banks to fund development of three new factories. The 16-year syndicated…
Business News
Tetra Pak targets 20pc recycling rate by 2020
Tetra Pak, a leader in food processing and packaging solutions, plans to take the carton recycling rate in Arabia to 20 per cent by 2020 from the current 3 per…
Aquatech wins Saudi water plant order
US-based Aquatech, a global leader in water purification technology, has won an order for a demineralizing plant for IBN Rushd, a Sabic affiliate petrochemical facility in Yanbu. The technology supplied…
Saudi Airlines Cargo to expand Dhaka route
Saudi Airlines Cargo has announced that it will introduce a third weekly freighter from Dhaka to Riyadh commencing April 14. This additional B747 flight will be routed DAC – RUH…
Drake & Scull wins SR 138.7 million Saudi contract
[Restricted to Subscribers] – Drake & Scull Saudi the MEP arm of Drake & Scull International (DSI) PJSC in the kingdom and a regional market leader in integrated design, engineering…
Demand for trucks in KSA expands on robust transport
Saudi Arabia’s strategic location and large-scale infrastructure development will position the Kingdom as one of the world’s leading transport and logistics hubs. The Saudi Arabian General Investment Authority said on…
Zain Saudi Arabia unveils Dealz mobile advertising
Mobile Telecommunications Company Saudi Arabia (Zain KSA) becomes the first local telecom provider to launch permission-based advertising for its Saudi Arabian consumers. The company said permission-based mobile advertising has been…
Seef Properties posts $23m net profit
Seef Properties, a leading real estate group in Bahrain, has posted a net profit of BD8.59 million ($22.7 million) last year compared with BD9.37 million in 2010. The company’s total…
Savola posts SR1.2 billion net profit
The Savola Group has announced its audited financial results for the year ended Dec. 31, 2011. The group achieved consolidated net income of SR1.2 billion, an increase of 35.6 percent…
Saudi Acwa eyes $3bn Malaysia power assets
Saudi Arabia’s water and power project developer Acwa Power is “very keen” to buy power assets worth over $3 billion on sale by Malaysian tycoon Ananda Krishnan, the company’s chief…
