The UAE's industrial sector received a significant increase in financing in 2024, driven by robust support from both government and private entities. 

 

Banks operating in the UAE injected AED5.537 billion ($1.51 billion) in funding for the manufacturing sector during the first nine months of 2024, bringing the total loans to the sector to a historic peak of over AED94.85 billion, according to data from the Central Bank of the UAE (CBUAE).

 

The financing portfolio for the sector increased by about 6.2% during these nine months, from AED89.315 billion at the end of 2023, with a growth rate of over 37% over the past decade, compared to the end of 2015, said a Wam news agency report.

 

Leading institutions such as the Emirates Development Bank (EDB), the Khalifa Fund for Enterprise Development (KFED), and the Mohammed Bin Rashid Establishment for SME Development are key supporters of industrial projects, especially those focused on innovation and technology.

 

These institutions provide a range of accessible financing solutions and training programmes that empower entrepreneurs and enhance the competitiveness of small and medium-sized enterprises (SMEs), enabling them to become an integral part of the growing industrial landscape in the UAE, said the report.

 

The EDB follows a comprehensive approach to stimulate and develop local factories by offering a wide range of solutions and products to this sector, which is one of the five priority sectors funded by the bank.

 

The bank's vision is aligned with the national strategy for advanced industry and technology, which aims to position the UAE as a global industrial hub by 2031 through the implementation of the Operation 300 billion Initiative.

 

Saudi Arabia's National Water Company (NWC) has announced the completion of three major water and sanitation projects in Al Kharj and Al Sulayel governorates in Riyadh region.

 

The scope of work includes construction of over 119km piplelines and networks at a total cost of over SAR210 million ($56 million), said NWC in a statement. 

 

In Al Kharj governorate, NWC has completed phase six of the sewage lines and networks, extending over 47.5km and expanded the lifting station to a capacity exceeding 57,000 cu m per day. 

 

At a cost of over SAR131 million, this development will enhance services for the districts of Al-Worood, Al Fursan, Al Aaliya, and Al Asamiya, said the statement.

 

NWC has also completed the installation of eight water networks that connect existing lines to desalinated water lines, covering nearly 3km in total. 

 

This project will enhance water service to the districts of Al Jawhara, Al Muhammadiyah, Al Hanakia,  Al Munifiya, Al Nasifah, East Al Nasifah, Al Rashdan, Al Slamiya, Maqboula, Rafi'a, North Rafi'a, Al Faiha'a, and Bad'a bin Arfaj, at a cost exceeding SAR4.4 million.

 

In Al Sulayel governorate, NWC said it has completed phase one work of the sewage networks spanning 68.5 km. Also it has built a lifting station with a daily capacity of around 30,000 cu m at a total cost of SAR75 million.

 

The Saudi company said these projects were part of its ongoing efforts to enhance the water distribution system, reduce environmental impact, and achieve water security and environmental sustainability. 

 

NWC reiterated its commitment to executing its strategic plans to improve the operational efficiency of the water and environmental sectors, while adhering to the highest standards of quality and performance and contributing to the objectives of the Saudi Vision 2030.-TradeArabia News Service

Saudi Arabia's National Water Company (NWC) has announced that its Central Cluster has completed a SAR460-million ($123 million) sewerage project as part of its strategic plans to enhance water and environmental infrastructure, improve operational efficiency, and support the urban and architectural growth of capital Riyadh.

 

The scope of work includes the installation of over 297 -km-long pipelines and networks as well as setting up of a lifting station with a 55,000 cu m per day capacity, said NWC in a statement. 

 

This project aims to provide sewerage services through home connections, benefiting more than 198,000 beneficiaries while reducing environmental damage and addressing visual distortions, it stated.

 

NWC continues to accelerate the implementation of its key infrastructure projects, ensuring they are completed on time and also meet all performance indicators s well as improving the service levels and achieving the objectives of this vital sector.-TradeArabia News Service