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Saudi Gulf Projects
Diriyah Company Signs $1.6 Billion Financing Agreement With Banque Saudi Fransi
Diriyah Company, Saudi Arabia announces that it has secured a USD1.6 billion (SAR 6 billion) financing agreement from Banque Saudi Fransi (BSF) to fund the development of the Wadi Safar masterplan, a key area within the Diriyah urban development project. The signing ceremony was attended by Jerry Inzerillo, Group Chief Executive Officer of Diriyah Company, and Bader Alsalloum, Chief Executive Officer of BSF, along with senior executives from both entities. The attendees stressed the importance of this partnership in supporting sustainable development and enhancing Diriyah’s position as a prominent tourist and cultural destination. As one of the three masterplans developed by Diriyah Company, Wadi Safar is a 62 sq km highly exclusive residential development that will feature a selection of ultra-luxury hospitality, sports and leisure, and retail assets. In July 2024, a USD2.13 billion (SAR 8 billion) joint venture construction contract was awarded for the development of the Royal Equestrian & Polo Club and four world-class hotels including Aman, Six Senses, The Chedi, and Faena. Wadi Safar is also the location for the prestigious 27-hole Signature Golf Course designed by Greg Norman and Royal Golf Club. The financing agreement with BSF underscores Diriyah Company’s commitment to delivering a world-class development that aligns with Saudi Vision 2030. It also reflects BSF’s commitment to financing strategic projects, reinforcing its role in supporting sustainable development and promoting quality investments that contribute to the Kingdom’s economic transformation. Located on the outskirts of Riyadh, Diriyah is one of Saudi Arabia’s five giga-projects, supported by the Public Investment Fund (PIF). This integrated urban development is designed to provide homes for over 100,000 residents, office space for tens of thousands of professionals in the technology, media, arts and education sectors, create an estimated 178,000 jobs, build over 40 world-class hotels, art galleries, museums and retail districts to attract 50 million annual visits, and contribute USD 18.6 billion (SAR 70 billion) to Saudi Arabia’s GDP once completed. Diriyah’s first hotel, Bab Samhan – a Luxury Collection hotel, recently opened, following the launch of the UNESCO World Heritage site of At-Turaif and Bujairi Terrace in 2022, which have attracted over 3 million visits to date. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 13, 2025
Saudi Gulf Projects
Doosan Enerability Awarded $1.54 Billion Rumah 1 And Nairyah 1 Power Plants
Doosan Enerability, South Korea announces that it has signed a contract for the construction of Rumah -1 and Al-Nairyah -1 gas-fired combined cycle power plant in Saudi Arabia. The Combined value of the contract is over USD 1.54 billion. The contract was signed with a consortium of ACWA Power, Saudi Electricity Company (SEC) and Korea Electric Power Corporation (KEPCO), which is the project developer. Doosan Enerability plans to complete the project by 2028 using the EPC (Engineering, Procurement, and Construction) method, in collaboration with SEPCO-3, a company specializing in power plant construction. The collaboration will handle all processes from design to equipment supply, installation, and trial operation. The Ruma 1 and Nairiyah 1 projects, tendered by the Saudi Power Procurement Company (SPPC) through an international bid, involve building one 1,800MW gas-fired combined cycle power plant each, located 80km and 470km northeast of Riyadh, respectively. The electricity generated will be sold to SPPC for the next 25 years. Last November, the consortium signed a Power Purchase Agreement (PPA) with SPPC. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 13, 2025
Saudi Gulf Projects
Sepco3 And Doosan Consortium Signs Rumah 1 And Nairyah 1 Power Plants Contract
SEPCO3, Doosan Enerability signed the EPC contract for the Rumah 1 and Nairyah 1 combined cycle power plant projects with the developer consortium consisting of ACWA Power, Korea Electric Power Corporation (KEPCO) and Saudi Electricity Company (SEC). The Rumah 1 power plant is located about 80 kilometers east of Riyadh, Saudi Arabia, with an installed capacity of 1,800 megawatts. The Nairyah 1 power plant is located about 50 kilometers north of Al Nairyah, Eastern Province, Saudi Arabia, with an installed capacity of 1,800 megawatts. SEPCO3 and Doosan Enerability of South Korea have formed a consortium to undertake the above projects. The Rumah 1 and Nairyah 1 power plants are key projects launched under Saudi Arabia’s “Vision 2030”, aimed at responding to the growing demand for electricity, improving the power structure, enhancing the peak-generation capacity of the power grid, and ensuring the safe and stable operation of the power grid. The successful implementation of the project will greatly enhance Saudi Arabia’s power supply capacity, optimize the power structure, and inject strong impetus into the sustainable development of Saudi Arabia’s economy and society. Last November, the consortium signed a Power Purchase Agreement (PPA) with SPPC. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 13, 2025
Saudi Gulf Projects
Uae’S Nmdc Energy Awarded $2.6 Billion Contract
NMDC Energy P.J.S.C., UAE announces that it has received a letter of award for a local project. The value of the contract is AED 9.7 billion. The project will be executed on an engineering, procurement and construction basis. The duration of the contract is 57 months. The project will be commencing from 31 March 2025. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 13, 2025
Saudi Gulf Projects
Siemens Energy Awarded $1.6 Billion Supply Contract For Rumah 2 And Nairyah 2 Power Plants
Siemens Energy announces that it has been awarded a USD 1.6 billion project, with Harbin Electric International as the EPC contractor, to provide key technologies for the Rumah 2 and Nairyah 2 gas-fired power plants in Saudi Arabia. Located in the western and central regions, the plants will add 3.6 gigawatts of power to the national grid – enough to supply around 1.5 million homes. The project includes long-term maintenance agreements to support the plants’ operational reliability over the next 25 years. Core components for the power plants will be manufactured at the Siemens Energy Dammam Hub, which is currently expanding to increase local production capacity and support Saudi Arabia’s energy sector. Rumah 2 and Nairyah 2 will rank among the world’s largest combined-cycle power plants. They will replace aging oil-fired stations, reducing CO2 emissions by up to 60% compared to traditional oil-based power generation. Additionally, the plants are being designed to be compatible with advanced CO2 capture and storage technologies, supporting Saudi Arabia’s long-term emissions reduction goals. “Supplying key technologies for the Rumah 2 and Nairyah 2 power plants directly supports Saudi Arabia’s energy transition and its goal of achieving net zero emissions by 2060,” said Ahmed ElSerry, Head of Gas Services Sales, Middle East. ”By manufacturing critical components at our Siemens Energy Dammam Hub, this project further strengthens local production capabilities and builds expertise within the Kingdom, contributing to a more resilient energy sector,” he added. Siemens Energy will supply six SGT6-9000HL gas turbines, four SST6-5000 steam turbines, eight SGen6-3000W generators, two SGen6-2000P generators, and associated auxiliary equipment, with each site generating approximately 1.8 gigawatts of electricity. This order further strengthens Siemens Energy’s established presence in Saudi Arabia’s Independent Power Producer (IPP) market, solidifying its role in delivering a significant share of Saudi Arabia’s modern power generation. Building on the success of previous projects like Taiba 2 and Qassim 2 – which together add 4 gigawatts to the national grid – Siemens Energy continues to drive local manufacturing expansion and infrastructure modernization, playing a key role in the country’s energy sector. Rumah 2 and Nairyah 2 will initially be integrated into the grid in simple cycle mode in 2027, transitioning to full operation as combined-cycle power plants by the following year. Related: TAQA, JERA and Al Bawani Consortium to Develop 3.6GW Power Plants in Saudi Arabia Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 12, 2025
Saudi Gulf Projects
Dewa’S 132Kv Transmission Projects Rises To $571.8 Million
Dubai Electricity and Water Authority (DEWA), announced that it has commissioned 13 new 132kV substations with a conversion capacity of 1,950 megavolt amperes during 2024. DEWA also installed 127 kilometres of ground cables to connect the substations to the main transmission network. This is part of DEWA’s ongoing efforts to keep pace with the urban expansion in Dubai. The total value of DEWA’s investments in existing and completed 132kV transmission projects in 2024 reached AED 2.1 billion. The substations serve new citizen neighbourhoods such as Al Athbah, Nadd Hessa, Al Khawaneej 2, Wadi Al Amardi and Al Aweer 1, as well as substations in other areas such as Al Thanyah 3, Al Barsha South 4, International City Phase (2), Wadi Al Safa 5, Umm Suqeim 3, Al Hebiah 5, and Jebel Ali Industrial First. Hussain Lootah, Executive Vice President of Transmission Power at DEWA, said that completing these 13 substations required more than 12 million safe working hours using the latest global technologies while ensuring the highest safety and security standards. He noted that by the end of 2024, the total number of 132kV substations had reached 360 stations, with 37 under construction, while the total of 400kV transmission substations in Dubai reached 27, with two stations under construction. “We focus on supporting citizens’ housing and meeting the increasing demand for electricity in Dubai. In line with the Sheikha Hind bint Maktoum Family Programme, launched by Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we support the establishment and growth of families in Dubai and provide all the requirements that ensure a high quality of life and well-being for all Emiratis. DEWA further expands its network in line with the Dubai Economic Agenda D33 and the Dubai 2040 Urban Master Plan, to keep pace with the significant growth in population and promote Dubai’s position as one of the best cities in the world to live, work and visit,” said by HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA). Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 11, 2025
Saudi Gulf Projects
Taqa Water Solutions Signs $544.5 Million Worth Agreement In Uzbekistan
TAQA Water Solutions, UAE has signed a Memorandum of Agreement (MoA) with the New Tashkent City Directorate to explore the development of a 65km raw water transmission pipeline and a cutting-edge water treatment plant in New Tashkent City, Uzbekistan. This agreement marks TAQA Water Solutions’ second mega water infrastructure project in Uzbekistan and a significant step towards the vision of a modern and sustainable New Tashkent City by providing reliable, clean water to serve approximately 2 million people. The MoA signifies the commencement of a crucial phase in the development of this vital water infrastructure project, where, under the terms of the agreement, TAQA Water Solutions is granted a period of exclusivity to develop a comprehensive proposal for the project. This will involve conducting thorough technical and financial assessments to confirm the project’s viability and develop proposals for a bankable, sustainable solution. The agreement was signed by Ahmed Al Shamsi, CEO of TAQA Water Solutions, and Maksud Abbaskhanov, Deputy Director of the New Tashkent City Directorate. Upon completion, the new water infrastructure project will provide sustainable drinking water sourced from the Charvak Mountain Reservoir to people in New Tashkent City. It will feature a state-of-the-art water treatment plant empowered with advanced technologies to ensure the delivery of high-quality drinking water that meets the highest international standards. The 65km raw water transmission pipeline will transport water, with a daily capacity of over 500,000 cubic metres, producing up to 20 megawatts of hydro-power to ensure a reliable and consistent supply of clean water, bolstering the continued growth and development of New Tashkent City by meeting its increasing current and future water needs. Al Shamsi commented, “Building on last year’s success in leading the development of Tashkent’s largest wastewater treatment plant, we are eager to embark on developing comprehensive evaluations and assessments for this new project that will set new standards for sustainable resource management and contribute to the long-lasting wellbeing and prosperity of the New Tashkent City community.” Abbaskhanov, in turn, said, “Developing this project will supply the people of New Tashkent with a reliable and sustainable operation that has proven its strength as state-of-the-art in the UAE, which goes alongside the reputation of TAQA Water Solutions and its engineers. This agreement is a significant step, and I am more than confident that the cooperation we have had over the past couple of months in developing this agreement has laid a solid foundation for the next steps.” Valued at AED2 billion, the project demonstrates an investment in the bright future and rapid growth of New Tashkent City. By securing the city’s long-term water supply, the project paves the way for economic growth and aims to elevate the quality of life for the entire community. This project further strengthens the growing bilateral relationship between the UAE and Uzbekistan, highlighting the shared commitment to sustainable development and economic progress. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 11, 2025
Saudi Gulf Projects
Uae’S Meraas Awards $544.5 Million Construction Contract
Meraas, a member of Dubai Holding Real Estate, has awarded a contract for the construction of Design Quarter at d3, which includes the first residential community within Dubai Design District (d3), a global creative and design ecosystem. The value of the contract is over AED2 billion and the contract was awarded to Arabian Construction Company LLC. Scheduled for completion by mid-2027, the Design Quarter at d3 comprises a collection of 558 apartments. These are spread across three buildings – one low-rise and two towering skyscrapers – nestled within a landscaped podium. This elevated podium serves as a communal area, linking the residential towers to form a social hub for the residents. This will include co-working spaces, an indoor-outdoor gym, pool facilities, barbecue areas and fun-filled zones for children’s activities. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 11, 2025
Saudi Gulf Projects
Linxon Secures $1 Billion In New Contracts For Turnkey Projects In 2024
Linxon, a joint venture formed by AtkinsRéalis and Hitachi Energy, announces that as of December 2024, it has achieved $1 billion in new orders for the calendar year 2024. Following a strong performance in 2023, this significant achievement underscores Linxon’s progress over the past years, the trust established with its clients, and the robust growth within the power transmission sector. The secured contracts have been distributed across all three regions: the Americas, Asia Pacific/Middle East & Africa, and Europe, with each region making a substantial contribution. While the majority of Linxon’s operations are focused on Transmission System Operators (TSOs), there has also been notable success for Energy Storage Systems (ESS) within the Americas, including entry into Puerto Rico with an initial batch of nine projects to integrate renewables. Additionally, the company has significantly expanded its market presence in the Middle East with a major award in Abu Dhabi. In Europe, significant progress has been made to increase the pipeline of projects from TSOs across Linxon’s core markets, with new awards expected in the first half of 2025. “We are ideally positioned for the market super cycle and are fully dedicated to maintaining this growth trajectory, increasing the services to our customers, providing opportunities to our staff, and achieving strong financial results for our shareholders,” stated Stefan Reisacher, CEO of Linxon. “With our recent consolidation into three robust hubs, we have seen continuous improvement in our execution capabilities. Effective project execution – delivered on time, with quality, and within budget – is fundamental to our business success,” he concluded. Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 11, 2025
Saudi Gulf Projects
Tk Elevator Awarded 10-Year Service Contract With Dubai Airports
TK Elevator (TKE), announces that it has awarded a new 10-year contract with Dubai Airports to service and maintain Dubai International’s (DXB) Passenger Boarding Bridges (PBB) and aircraft stand equipment. The contract includes service provision for all four concourses in DXB, including the prestigious Concourse D, and Concourse A – home to Emirates and purpose-built for the world´s largest passenger airplanes, the A380 and B777. At DXB, TKE provides comprehensive, integral life-cycle services, including 24/7 maintenance for the uninterrupted operation of 152 PBBs, pre-conditioned air, and ground power units at one of the most demanding airport facilities worldwide. By optimising the lifespan and performance of key airport assets, TKE advances DXB’s sustainability goals and operational excellence. “Our reputation for service and product excellence coupled with deep experience and relationship with Dubai Airports enabled us to understand the specific service and operability requirements of the world’s busiest airport for international passenger traffic,” said Ignacio Medina, CEO Airport Solutions at TK Elevator. “We are honored to be awarded this service contract to continue to secure DXB’s expansion and rating as a flagship airport for global travel.” As Dubai’s main airport, DXB is the world’s busiest international airport, having served 92.3 million passengers in 20241. Guaranteeing the safety, comfort, and dependability of transport for guests and staff is of utmost importance. TKE assures this by meeting the highest quality and service standards set by global aviation leader Dubai Airports, operator of DXB. Through customer service-oriented lifecycle management, TKE enhances Dubai Airports’ ability to achieve high asset availability and deliver exceptional passenger experiences. Aligning with Dubai Airports’ operational priorities, the partnership leverages strategic operations and maintenance decision-making frameworks to facilitate the transition from maintenance-centric practices to a customer-focused delivery model. Furthermore, TKE’s expertise in lifecycle management and obsolescence planning ensures the long-term reliability of DXB’s infrastructure while maximizing operational efficiency. Omar Binadai, Chief Technology & Infrastructure Officer at Dubai Airports said, “Dubai International (DXB) thrives on partnerships that drive seamless journeys for tens of millions of guests annually and support the operational backbone of our airport. Our collaboration with TK Elevator reflects this ethos, combining innovation and reliability to enhance critical airport infrastructure. This agreement ensures DXB continues to set global benchmarks in operational excellence and guest experience, keeping the world’s most connected airport running at its best.” Saudi Power Transmission Projects Reports is now available, pease visit Reports Section
oil-gas
Mar 10, 2025