Saudi Arabia’s Public Investment Fund (PIF) is considering buying a stake in Thyssenkrupp’s hydrogen unit as the oil-rich kingdom pivots to greener forms of energy production, people familiar with the matter said. The sovereign wealth fund is in the early stages of studying a potential investment in the engineering conglomerate’s Nucera business, the people said, asking not to be identified discussing confidential information.
The renewable energy projects that are being planned by Saudi Arabia to supply electricity to the green hydrogen based ammonia plant in the city of NEOM appear to have been disclosed. As per media reports, the renewable energy projects will be located in the North-West region of Saudi Arabia. It will be developed near the Jordan border to help the development of the $6.5 billion ammonia plant.
Following a successful launch in the Netherlands, and just a few weeks after NBC acquired the format for the U.S. market, unscripted survival show Million Dollar Island has been picked up for the Middle East and North Africa (MENA) region.
The solar and wind power projects aimed at supplying electricity to the $6.5 billion planned green hydrogen-based ammonia plant in Saudi Arabia’s NEOM, are expected to be situated in northwest Saudi Arabia close to the border with Jordan, reported Meed, citing an industry source.
National Energy Services Reunited Corporation (NESR), a global industry-leader in provision of integrated energy services in the Middle East and North Africa (Mena) region, has announced that the company has been awarded one of the major contracts for integrated rig-less stimulation and testing services (Conventional Fracturing) across Saudi Arabia.
These contracts, worth approximately $300 million are for a total period of three years with an option for a further extension of two years, said a statement from NESR.
Producing local and global cinematic gems that tug right at the heartstrings of consumers seems to be the big clear focus of MBC Studios, the in-house premium content production arm of MBC Group. Apart from choosing Saudi Arabia as their launching pad, the industry giant recently concluded shooting in NEOM and the wider Tabuk province for the film “Desert Warrior” starring Hollywood star Anthony Mackie, and Aiysha Hart.
A surge in construction activities due to The Red Sea Development Co., AMAALA and other development projects in Saudi Arabia such as NEOM and Qiddiya is expected to drive the recovery of the cement industry after the demand dwindled last year and early this year on account of the pandemic.
Global inspection specialist, Element Materials Technology (Element) has invested $1 million in a new laboratory in north western Saudi Arabia to provide civils and environmental testing for the NEOM new city project. The project will create a futuristic destination and community incorporating smart city technology and entirely fuelled by renewable energy.
Saudi's King Salman has announced urgent medical and shelter aid worth $10 million to Ukrainian refugees who have fled to neighbouring countries to flee the Russian invasion.
He has instructed the country’s humanitarian charity to do the necessary arrangements, local media reported.
At the first-ever conference devoted exclusively to carbon-free hydrogen in the Middle East and North Africa (MENA), participants looked in depth at the technical and financial complexities of getting major projects off the ground. They covered projects announced by various consortiums worldwide, all in early-stage development. An exception appeared in Saudi Arabia’s $5bn hydrogen-based ammonia plant, a project of the NEOM Energy & Water Company.
The company said it has signed a contract with the Ministry of Defence to join its system to connect disparate and remote systems.
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