Riyadh to host first Saudi IoT exhibition & conference

Abdullah Al-Sawaha, minister of communications and information technology.
Updated 16 October 2017
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Riyadh to host first Saudi IoT exhibition & conference

The first Saudi International Exhibition and Conference for Internet of Things will take place in Riyadh from Jan. 28-30.
Experts in the fields of technology, communications, gas and petrochemicals, and services designed to propel the digital transformation of cities, communities, people, data and objects, will participate in the event.
New Horizon are the organizers of the event, which will take place at the Riyadh International Convention and Exhibition Center.
Abdullah Al-Sawaha, minister of communications and information technology, said: “The first Saudi International Exhibition and Conference for Internet of Things represents a major step in supporting the Kingdom’s Vision 2030, which has allocated a great deal of support to the IT sector, and affirmed its support for creative and innovative thinking to motivate young people to transform their ideas into actions and activities that contribute to the ongoing development efforts through Vision 2030.”
He added the Ministry of Communications and Information Technology is seeking to transform the Kingdom into a platform for Internet applications in the region and to explore the best ways to achieve this by using international expertise and facilitating access to appropriate funding.
Al-Sawaha said Saudi Arabia offers great opportunities in the field of IoT because “the market is still growing and the Kingdom has many researchers, developers and experts in this area.”
“We in the ministry oversee one of the most important sectors ... which is the telecommunications sector, described as the nervous system of a smart city, and we are working to ensure that this sector is active and responsive to the requirements of mega projects in this area.”
“This exhibition and conference is a very important event for the future of the Internet in the Kingdom,” said Shuaib bin Abdullah Al-Abdulrahman, general manager of New Horizon.
The Internet of Things is a network of physical objects, devices, buildings, and others embedded with electronic devices connected to the Internet to collect and share data in real time. This network enables objects to be sensed and made sensitive so that they can be remotely controlled through a real time network infrastructure, thus creating opportunities for a more direct integration into the real world in computer systems. This eventually results in improved efficiency, accuracy, and economic benefits.


Ma’aden acquisition supports Vision 2030

Updated 24 April 2019
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Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.