Discussion over the impact on Saudi Arabia of depressed oil prices has never been as intense as now, twinged as it is with grim forebodings but also containing elements of hope that with drastic measures the kingdom can keep going fairly well until a recovery takes place in energy markets.
Sapin, the Dammam-based producer of metal and plastic packaging products, has gained membership of an environmental partnership to highlight the need for manufacturing companies to focus on green practices and sustainability for the common good.
Almajdouie Logistics has said higher fuel costs will eat into margins but that the company will leverage its expertise and assets to fulfil its commitments.
Steel galvanising specialists Al Ajab Group is set for a sizable hike in production capacity, foreseeing contracts from high-profile industrial and infrastructure projects involving bulk quality steel, the company said.
Emerson Process Management, a business of Emerson, broke ground on the site for its new technology development, customer training, and project support facility in Dhahran Techno Valley last month.
The Al Afandi Group has announced it will build solar panels at the Yanbu Industrial City for which it has signed a property contract with the Royal Commission.
Engineered air solutions provider Safid is undeterred by a drop in output and sales and believes new plants it is building will be in time for a recovery in markets it expects to happen before long. “We’re optimistic and we’re confident the economic situation in the GCC will strengthen.
US industrial giant General Electric Company (GE) has won a landmark engineering and construction contract worth nearly $1 billion from Saudi Electricity Company (SEC) for its combined cycle power plant at Waad Al Shamal in the north of the kingdom. As per the deal, GE will deliver the turnkey power plant, supplying four advanced GE 7F.