The Saudi Offset Limited Partnership (SOLP), a $35 million investment fund managed by DevCorp International for limited partners The Raytheon Company and Thales International, continues to invest in the economic diversity of Saudi Arabia and to locate its facilities throughout Saudi Arabia.

Arabian Shrimp Company, its 5,000-hectare shrimp farm in the Jizan area, has completed construction of the first phase broodstock farms and is into the second generation of high health broodstock for seeding the first phase production ponds in May 2006.
The tender for a shrimp processing plant employing rural women has been floated and a training programme for male and female employees established.  Harvest of first phase production ponds will take place in October 2006 with sales commitments to the Japanese market in process.
Plastbau Arabia Ltd., which will bring the patented Plastbau construction technology to Saudi Arabia, has broken ground on its manufacturing facility in Dammam   Industrial City.  The facility will be completed in January 2006 and production, under the supervision of CEO Dr Mohammed Al Issa, will begin in the first quarter of 2006.  Financing has been agreed through Saudi Industrial Development Fund (SIDF) and Saudi Arabian Investment Bank (SAIB).  The first contracts for the supply of advanced insulated concrete forms for building projects in Riyadh and Eastern Province have been committed.
Interactive Saudi Arabia Ltd. continues to expand its contract base.  In addition to the eGovernment contract signed with Riyadh Municipality in 2004 and the Digital Branding contract with Al Bilad Bank in 2005, Interactive, under the leadership of Basel Al Jabr, has signed an agreement with Sabre, the American travel group, and has completed a telecom study contract with Saudi Aramco. Interactive is also partnering with Raytheon in several strategic projects.
A joint venture agreement to produce highly efficient electric lamps has been signed between the National Company for Glass Industries (Zoujaj), Indo Asian Group, which is the leading Indian provider of compact fluorescent lamps, and the SOLP.  The facility will be located in the Al Hasa Industrial City. Applications have been submitted to the Saudi Industrial Development Fund and commercial banks for financing.