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  • Saudi Investment Enclaves Take Shape With Top Steelmaker’s Entry

    China’s Baoshan Iron & Steel Co. will commit 15 billion riyals ($4 billion) to build a plant for steel plate manufacturing in a new economic zone in Ras Al-Khair on the kingdom’s eastern coast, according to an announcement made at an event in Riyadh on Monday. Domestic names such as Himmah, which is establishing an auto-parts export hub catering to Africa and the Middle East, will drive capital into some of the other special areas that authorities are setting up across the country and which already attracted the likes of Lucid Group Inc. as anchor investors.

  • Saudi Arabia’s special economic zones ‘pivotal’ to its future as an investment destination

    The zones were launched in April to offer companies financial and non-financial incentives as the kingdom seeks to attract more foreign investment and position itself as a global business centre. They will focus on the advanced manufacturing, cloud computing, medical technology and maritime sectors, all key growth areas. The special economic zones are the King Abdullah Economic City, Jazan, Ras Al Khair and Cloud Computing, which is located in the King Abdulaziz City for Science and Technology.

  • Clean energy investment is extending its lead over fossil fuels, boosted by energy security strengths

    About USD 2.8 trillion is set to be invested globally in energy in 2023, of which more than USD 1.7 trillion is expected to go to clean technologies – including renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps – according to the IEA’s latest World Energy Investment report. The remainder, slightly more than USD 1 trillion, is going to coal, gas and oil.

  • Clean energy investment is extending its lead over fossil fuels, boosted by energy security strengths

    About USD 2.8 trillion is set to be invested globally in energy in 2023, of which more than USD 1.7 trillion is expected to go to clean technologies – including renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps – according to the IEA’s latest World Energy Investment report. The remainder, slightly more than USD 1 trillion, is going to coal, gas and oil.

  • Saudi PIF founds $3bln Saudi-Iraqi Investment Company

    Saudi sovereign wealth fund PIF has created a new unit to invest in various industries across Iraq, with a capital of $3 billion and headquarters in Saudi Arabia, the company's acting CEO said on Thursday. The Saudi-Iraqi Investment Company will invest in areas including infrastructure, mining, agriculture, real estate development and financial services, CEO Muteb Alshathri said during the Saudi-Iraqi Coordination Council held in the kingdom.

  • Saudi’s PIF founds Saudi-Iraqi investment company with $3 bln capital

    Saudi Arabia’s Public Investment Fund has founded a Saudi-Iraqi investment company with $3 billion capital, Reuters reported on Thursday, citing the company’s acting CEO. The Saudi-Iraqi Investment Company will invest in areas including infrastructure, mining, agriculture, real estate development and financial services, CEO Muteb Alshathri said during the Saudi-Iraqi Coordination Council held in the Kingdom.

  • Qatar Says Investments in Egypt Are Coming, But No More Deposits

    Qatar said it’s committed to following through on the billions of dollars in investments pledged to cash-strapped Egypt, though stopped short of giving any timing while indicating the days of handouts are over. The gas-rich country pledged $5 billion to the North African nation in March last year, and “we are committed to that,” Finance Minister Ali Al-Kuwari told Bloomberg TV at the Qatar Economic Forum on Wednesday.

  • Surging Investments: Indian buyers propel Dubai’s real estate sector

    Dubai’s construction industry is witnessing a significant increase in investments from India, driven by imminent tax adjustments set to be implemented on July 1. According to insiders in the sector, Indian investors contributed to 20% of all property transactions in Dubai during the first quarter of 2023, injecting close to $2 billion into the market.

  • Neom Green Hydrogen Energy Company closes $8.4bn in investment deals for plant

    Saudi Arabia's Neom Green Hydrogen Company has signed deals worth $8.4 billion with financial institutions for the plant it is building at Oxagon in the kingdom's $500 billion futuristic city Neom. The equal joint venture between Acwa Power, Air Products and Neom is billed as the world’s largest green hydrogen production facility. It will integrate up to 4 gigawatts of solar and wind energy to produce up to 600 tonnes per day of carbon-free hydrogen by the end of 2026 in the form of green ammonia. The project is being financed with $6.1 billion non-recourse financing from 23 local, regional and international banks and investment companies, Neom said on Monday.

  • Neom Green Hydrogen Energy Company closes $8.4bn in investment deals for plant

    Saudi Arabia's Neom Green Hydrogen Company has signed deals worth $8.4 billion with financial institutions for the plant it is building at Oxagon in the kingdom's $500 billion futuristic city Neom. The equal joint venture between Acwa Power, Air Products and Neom is billed as the world’s largest green hydrogen production facility. It will integrate up to 4 gigawatts of solar and wind energy to produce up to 600 tonnes per day of carbon-free hydrogen by the end of 2026 in the form of green ammonia. The project is being financed with $6.1 billion non-recourse financing from 23 local, regional and international banks and investment companies, Neom said on Monday.