AD Ports Group today announced that it has received a notification from L’IMAD Holding Company of its intention to submit a voluntary conditional cash offer, through its wholly owned subsidiary Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire up to 100% of the issued and paid-up share capital of Abu Dhabi Ports Company (AD Ports Group) not already held by ADQ.
Saudi Ceramics Company, a leading player in the building materials sector, has announced the opening of its newest showroom in the kingdom's Western Province in Jeddah. With this launch, the total number of the Saudi firm's retail showrooms across the kingdom has now risen to 70.
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has announced two key promotions in managerial section - S. Abbas S. Baqer has been named Manager Calciner & Marine, while Ali Aseeri has been elevated to the post of Manager Engineering & Projects.
Qassim Cement Company has signed an agreement with the Saudi Industrial Development Fund (SIDF) to secure key funding for the construction of a fourth production line at its Buraydah plant that will help replace certain production lines and boost its capacity to 10,000 tonnes per day.
Saipem, a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, has won a key contract worth $1.8 billion to provide engineering, procurement, construction and installation (EPCI) services for an offshore project in the Middle East.
Spanish engineering and construction company Técnicas Reunidas has secured a Letter of Intent (LOI) for a $1.65 billion contract to build onshore gas facilities for a major gas field development in the Middle East, thus strengthening its position in the region's energy infrastructure market.
Saudi Ports Authority (Mawani) said its key Jeddah Port has boosted its role as a hub for AE15 and AE19 shipping services operated by Gemini Cooperation, a vessel-sharing partnership between Maersk and Hapag-Lloyd. The services have been updated to transit Bab Al Mandab Strait and Suez Canal.
Arabian Drilling, Saudi Arabia’s largest drilling contractor by fleet size, said it has received notice to resume operations for its remaining suspended offshore rigs. The company expects the restart to reflect a recovery in offshore market activity and lift utilisation across its offshore fleet to 100 per cent by the end of the third quarter of 2026.
PeroCycle, a pioneer in closed-loop carbon recycling based in UK, has announced strategic partnerships that will accelerate development and global commercialisation for a technology that addresses the urgent need to decarbonise foundation industries such as steel, cement, and chemicals.
Oman's Public Establishment for Industrial Estates (Madayn) has announced that its Sur Industrial City has secured RO56 million ($145.2 million) in investments during the first half through six agreements spanning over 60,000 sqm for projects in oil and gas, telecom, and food industries.
