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  • France targets Saudi PIF’s ‘colossal’ investment power

    During a three-day official state visit focused on boosting business ties, Mr Macron told a Saudi-French business forum in Riyadh that one of his objectives was to convince Saudi Arabia to invest more in France. “We want to partner with you, meaning we want to create jobs here. We want to produce with you,” Mr Macron said. “We want to be partner of your vision and the vision of the Crown Prince [Mohammed bin Salman] for 2030.” Saudi Energy Minister Prince Abdulaziz bin Salman said France “feels like home” as he stood alongside Mr Macron at the forum, where a flurry of business deals have been announced. They include a consortium between Electricite de France (EDF) and China's SPIC Huanghe Hydropower Development to build a 1,000-megawatt solar power plant in Al Masaa and a 400-megawatt plant in Al Hinakiyah. The value of the new contracts was not shared.

  • Aramco’s Diversification Strategy: Fueling Saudi Arabia’s Vision 2030

    Saudi Aramco is not only the largest oil producer globally but also the most profitable business, surpassing tech giants like Apple and Microsoft. Aramco is evolving far beyond its traditional role, now positioning itself at the forefront of economic diversification, technological innovation, and sustainability, aligning with the broader vision set forth by Crown Prince Mohammed bin Salman to transform the Saudi economy and reduce its dependence on oil. This shift has turned Aramco into a key player in reshaping the kingdom’s energy landscape and broader strategic interests. In a strategic move in March, Saudi Arabia transferred 8% of Aramco’s shares to the PIF – valued at around $163.6 billion, reflecting Aramco’s market worth – aiming to bolster the fund as the kingdom prepares for a possible IPO of the company. This transaction could provide additional financing for Vision 2030. The transaction raised the combined stake of the PIF and its affiliates in Saudi Aramco to 16%, equating to $327 billion in value.

  • How FIFA helped pave the way for Saudi 2034

    In October 2023, FIFA made a surprising move that effectively set the stage for Saudi Arabia’s bid to host a future FIFA World Cup when it announced that the FIFA Council had unanimously agreed that the sole candidacy for the World Cup in 2030 would be "the combined bid of Morocco, Portugal, and Spain."  In the same announcement, the FIFA Council detailed the bidding process for the 2034 World Cup and specified that it would follow “the principle of confederation rotation and of securing the best possible hosting conditions for the tournaments.”  As a result, only countries from the Asian Football Confederation and the Oceania Football Confederation were eligible to bid for 2034. FIFA subsequently set a tight 25-day window for countries to formally express interest. 

  • Locating EV Charging Stations to Enable Intercity Travel in Saudi Arabia

    The development of electric vehicle (EV) infrastructure presents a promising pathway to reduce transportation emissions, particularly when integrated with low-carbon energy systems. Given Saudi Arabia’s commitment to sustainable travel initiatives, a clear understanding of the  charging infrastructure required for facilitating long-distance EV travel is crucial for informed decision-making.

  • Saudi Arabia’s Neo Space Group to Acquire UP42 from Airbus

    Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in the Dec. 3 announcement. The deal is subject to regulatory approval.  UP42 is a geospatial solution platform that allows customers to access data and task satellites across multiple EO providers. The company is based in Berlin and its partners include Planet, BlackSky, Capella Space, Esri, and more. It serves end customers in a range of market verticals including agriculture, urban planning, real estate, infrastructure monitoring, and disaster management.

  • Saudi Arabia bets on tech to make deserts bloom

    Saudi Arabia accounts for nearly 75 percent of Middle East investment in climate technology start-ups worldwide, according to a 2023 report by auditor PwC. But its investment in green tech skews towards energy, with $363 million plowed into climate-friendly energy solutions—nearly 10 times as much as was invested in innovations related to food, agriculture and land-use, PwC said.

  • Saudi NEOM partners with CarbonCure and Gulf Cryo on low-carbon concrete push

    Efforts to integrate carbon capture and utilisation (CCU) technologies into construction in Saudi Arabia’s futuristic Neom city have taken a major step forward as CarbonCure Technologies, Saudi construction firm Abdullah Abdin, and regional gas company Gulf Cryo join forces to deliver lower-carbon concrete for Neom’s ambitious developments. The collaboration, supported by the Saudi Ministry of Energy, aligns with the Kingdom’s Circular Carbon Economy (CCE) framework and broader Vision 2030 goals. It aims to address the environmental impact of construction by embedding sustainability into projects like Neom and The Line.

  • FIFA, Clifford Chance Accused of ‘Whitewashing’ Saudi Human Rights Record in World Cup Bid

    As FIFA approaches its December 11 vote to appoint the 2034 World Cup host, the football association is once again under fire for allegedly minimising Saudi Arabia's human rights record in its latest assessment of the bid, with a Clifford Chance report at the heart of the controversy. The World Cup host is to be announced during the FIFA Congress vote next week, with Saudi Arabia as the sole candidate. Critics argue that FIFA’s latest evaluation, released on Friday, downplays Saudi Arabia’s human rights abuses while rating the Kingdom’s bid as a "medium” risk. They also criticise a previous report submitted to FIFA by AS&H Clifford Chance, the international law firm’s Saudi branch.

  • Crown Prince: Saudi Arabia provides $6B funding for 200 water projects

    Crown Prince and Prime Minister Mohammed bin Salman inaugurated the “One Water Summit” in Riyadh on Tuesday evening in the presence of several presidents and top officials, including the French President. In his opening speech, the Crown Prince said that this summit is being launched in conjunction with the Kingdom's hosting of the 16th Conference of the Parties to the United Nations Convention to Combat Desertification, which aims to reduce land degradation and drought. “The world is facing mounting challenges in the water sector, including rising drought rates that lead to multiple crises represented by a shortage of usable water, the exacerbation of desertification, and the subsequent threat to human life and societies,” said the Crown Prince. He highlighted that Saudi Arabia provided $6 billion in funding for 200 water-related development projects.

  • Saudi Arabia signs solar deals with France’s TotalEnergies

    A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned power utility EDF and Chinese State Power Investment Corporation (SPIC). Another agreement was signed between the three sides for the Al Hnakia 2 solar power plant. The investment forum also saw an agreement between Saudi’s Public Investment Fund (PIF), wholly owned subsidiary Saudi Investment Recycling Company (SIRC) and Veolia for the incorporation of waste management and recycling in the Kingdom.