Al-Hareth signs SR66m deal for KAEC project

Updated 05 August 2013
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Al-Hareth signs SR66m deal for KAEC project

King Abdullah Economic City (KAEC) recently signed a contract with Salem Saleh Al-Hareth Est. (SSH) to perform grading and earthworks for the second phase of the Industrial Valley IV II.
Al-Hareth is one of the Kingdom’s major and specialized trade and contracting companies.
The project was awarded for a cost of SR66 million and is scheduled to be completed by February 2014.
The contract was signed between Fahd Al-Rasheed, managing director and CEO of KAEC and Leslie Jameson, general manager of SSH.
Al-Rasheed said: “Salem Saleh Al-Hareth Est. (SSH) was selected among other contractors because of its long experience and in-depth knowledge in infrastructure, its insurance for speed of delivery, maintaining the highest degree of accuracy, reliability and complying with the highest international standards.”
Al-Rasheed added: “KAEC supports investors and venture capitalists willing to invest in the Industrial Valley with a variety of owning and long-term leasing options. This enables them to benefit from many of the main services offered by the city, for instance, the ease of issuing permits and licenses, and the possibility of providing qualified manpower through training centers for Saudi talents.
He said: “The availability of housing solutions within the vicinity of the Industrial Valley and the direct link with King Abdullah Seaport makes the Industrial Valley a global logistical hub and an access point to reach about 250 million consumers in the Middle East and North Africa, not to mention the availability of Haramain Railway station in KAEC and the future land bridge.”
Al-Hareth expressed his pride in the partnership with KAEC, one of the largest and most significant economic projects run by the private sector in the Middle East.
He stated: “We are committed to providing our expertise to design and develop an advanced industrial environment with effective and tangible results for the region and the world while providing the highest standards of infrastructure.”
He said: “With over 20 years of experience in infrastructure, SSH is one of the Saudi Aramcoapproved contractors for executing infrastructure projects over the amount of SR370 million.”
KAEC recently launched phase II of the Industrial Valley on an area of 22 million square meters after the completion of the 3.5 million square-meter phase I development with all infrastructure.
The project is currently a location magnet to local and global industrial and leading businesses. Besides the fact that there are several ongoing factories under construction, more than 50 companies having KAEC as their headquarters signed their final or reserve contracts.
Several manufacturing plants began their actual production outputs and will be utilizing the port of King Abdullah for export purposes connecting them to the world.
KAEC covers 168 million square meters of land and is being developed into a fully integrated city. KAEC has succeeded in attracting more than 50 national and international industrial companies with investments exceeding SR 10 billion.
Strategically located and with its own seaport, KAEC offers a wide range of housing solutions that are suitably priced for different income levels, which are all supported by a high quality infrastructure and a complete range of services and facilities such as the World Academy School, which is already open with a future total capacity of 2,250 students, and a medical center for primary care and emergency operated by Dr. Soliman Fakeeh Hospital Company.
In addition, retail stores have been fully leased and a number of restaurants, cafes, sales outlets and pharmacies are already open.


US intelligence says Huawei funded by Chinese state security: report

Updated 20 April 2019
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US intelligence says Huawei funded by Chinese state security: report

  • The accusation comes at a time of trade tensions between Washington and Beijing
  • Huawei dismissed the allegations

US intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West.
The CIA accused Huawei of receiving funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source.
Earlier this year, US intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report.
Huawei dismissed the allegations in a statement cited by the newspaper.
“Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources,” a Huawei representative told The Times.
The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment.
The accusation comes at a time of trade tensions between Washington and Beijing and amid concerns in the United States that Huawei’s equipment could be used for espionage. The company has said the concerns are unfounded.
Authorities in the United States are probing Huawei for alleged sanctions violations.
Meng Wanzhou, Huawei’s chief financial officer and daughter of its founder, Ren Zhengfei, was arrested in Canada in December at the request of the United States on charges of bank and wire fraud in violation of US sanctions against Iran.
She denies wrongdoing and her father has previously said the arrest was “politically motivated.”
Amid such charges, top educational institutions in the West have recently severed ties with Huawei to avoid losing federal funding.
Another Chinese technology company, ZTE Corp. , has also been at the center of similar controversies in the United States.
US sanctions forced ZTE to stop most business between April and July last year after Commerce Department officials said it broke a pact and was caught illegally shipping US-origin goods to Iran and North Korea. The sanctions were lifted after ZTE paid $1.4 billion in penalties.
Reuters reported earlier this week that the United States will push its allies at a meeting in Prague next month to adopt shared security and policy measures that will make it more difficult for Huawei to dominate 5G telecommunications networks.