Saudi Arabia's Royal Commission for Jubail and Yanbu has signed five agreements worth more than SR43 billion ($11.4 billion) for the establishment of key industrial projects in the cities of Ras Al Khair and Yanbu.

 

The deals were signed on the sidelines of the International Mining Conference held at the King Abdulaziz International Conference Center in Riyadh.

 

These include one with the Red Sea Aluminum Industrial Company in connection with leasing of industrial land in Yanbu Industrial City to establish a factory project for smelting and rolling aluminium and its alloys, drawing, purifying and casting, in addition to casting non-ferrous metals, stated the Royal Commission in its statement. 

 

The project, which will come up on a 7.03 million sq m area, at an investment of SR38.168 billion, is expected to provide 5,517 job opportunities in a major boost to mining infrastructure projects through a mining ore distribution port, which is a strategic gateway to access global markets, . 

 

The second agreement was with EV Metals company (EVM) that involves the leasing of industrial land to establish a complex for the production of high-purity chemicals required for active materials in the cathode that can be recharged for lithium-ion batteries for electric vehicles and renewable energy storage.

 

The project will come up on a 1.27 million sq m area with nearly SR3.375 billion beiong spent on it, it stated.

 

Meanwhile, the Royal Commission in Ras Al Khair Industrial City too has signed three investment agreements  at the event. 

 

The first one was with Saudi Holding Company for Conversion Industries, which includes the allocation of 157,000 sq m to establish and operate a factory for the production of aluminum foil and rolls in Ras Al Khair Industrial City, which will be an added value for its use of raw materials from Ma’aden.

 

To be set up at an investment of SR1.3 billion, the project aims to serve the local and global markets and is expected to create more than 350 job opportunities, said the Royal Commission.

 

The Royal Commission also signed an agreement with Tamouh Development and Investment Company, for setting up a new aluminium plant on a 130,000 sq m at a total investment of SR474 million. 

 

The new industrial project will see major production of high-density aluminum fluoride, and will provide more than 127 job opportunities.

 

The third agreement was signed with the Petroleum Protection Services and Construction Company for allocation of 10,000 sq m area to establish and operate a ready-mixed concrete factory for marine uses.

 

The new project will support the ports and marine industries sector with an investment of SR5 million and also provide 75 job opportunities.-TradeArabia News Service

The Abu Dhabi Fund for Development (ADFD) today (March 13) laid the foundation stone for its AED440 million ($120 million) hospitality project - Sofitel Legend Pyramids Giza - in Egypt. 

 

A luxury five-star hotel, it will feature 302 rooms equipped with state-of-the-art amenities. The property will also house a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality.

 

The project is being financed through a strategic partnership between the private sectors of the UAE and Egypt, said the statement from ADFD. 

 

ADFD is contributing 84.28% of the project’s capital through Abu Dhabi Tourism Investment Company (ADTIC). Additionally, Abu Dhabi National Hotels owns 10.22%, Overseas Tourism Investment Company holds 0.4%, Misr Hotels Company owns 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%.

 

It will be a landmark addition to the hospitality and tourism sector in Egypt and the broader Middle East, thus reinforcing the UAE’s commitment to advancing global economic partnerships and supporting sustainable development, it stated.

 

This comes as part of its efforts to support and revitalise Egypt’s tourism sector and enhance strategic investments, it added.

 

The foundation was jointly laid by Mohamed Saif Al Suwaidi, Director General of ADFD, and Engineer Adel Al-Najjar, the Governor of Giza, from the Egyptian government, in the presence of officials from both sides.

 

Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards. Abu Dhabi Tourism Investment Company is partnering with Accor Group, a globally renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience.

 

On the deal, Al Suwaidi said: Sofitel Legend Pyramids Giza is a significant step in strengthening Egypt’s tourism sector, offering a world-class hotel experience that underscores our commitment to sustainable investments in promising markets."

 

"Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt," he stated.

 

Al Suwaidi called this investment a reflection of ADFD’s commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries.

 

Lauding the ADFD support, Al Najjar said: "We appreciate Abu Dhabi Fund for Development’s commitment to supporting Egypt’s development projects, particularly in key economic sectors like tourism."

 

"The Sofitel Legend Pyramids Giza project represents a transformative step in strengthening our tourism infrastructure, enabling us to attract visitors from around the world thanks to its strategic location near Egypt’s most iconic archaeological sites," he added.-TradeArabia News Service

Etihad Energy Services Company (Etihad Esco), a wholly-owned subsidiary of Dubai Electricity and Water Authority (Dewa), has announced the completion of Dubai’s first energy savings performance contract (ESPC) with proven results.

 

Launched in 2015, the retrofit project, which involved several buildings, was successfully concluded in 2024. It marks a significant milestone in Dubai's transformation into a smart, green city, offering an innovative model for enhancing energy efficiency in buildings and facilities.

 

The retrofit project further establishes global benchmarks, demonstrating the potential to significantly reduce operational costs through improved operations, in line with the Dubai Demand Side Management Strategy 2050, said a statement from Dewa.

 

The pioneering project included a comprehensive retrofit of heating, ventilation, air conditioning, lighting, water and building insulation systems at Dewa’s facilities, including its headquarters and Dewa buildings in Al Hudaiba, Umm Ramool, Al Wasl and Burj Nahar, as well as the administrative buildings at the G and L stations.

 

Dewa’s headquarters also underwent a comprehensive retrofit of the chilled water system, including the installation of advanced chillers with a magnetic bearing system. 

 

These improvements enhance infrastructure, promote operational excellence and support energy consumption reduction and environmental conservation.

 

Over six years, the project achieved savings of approximately 35.2 gigawatt hours of electricity and 2.8 million imperial gallons of water, while reducing nearly 14,452 tonnes of CO2 emissions, it stated.

 

Dr Waleed Alnuaimi, the CEO of Etihad Esco, said this project highlights the depth of the partnership between the two organisations in driving sustainability. 

 

"We are proud of our active role in making Dubai one of the most sustainable cities globally, through pioneering projects that promote energy efficiency and generate long-term financial and environmental savings," he stated.

 

The benefits of the project are not limited to direct savings but extend to enhancing smart infrastructure and raising operational performance standards, supporting Dubai's ambitions to become a global hub for innovation and energy efficiency, he added.-TradeArabia News Service