King Abdullah Port appoints Rayan Qutub as CEO

Rayan Qutub, CEO of King Abdullah Port.
Updated 08 December 2017
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King Abdullah Port appoints Rayan Qutub as CEO

The Ports Development Company, owner and developer of King Abdullah Port, has announced the appointment of Rayan Qutub as the chief executive officer. The board of directors welcomed the new CEO who will contribute to supporting and developing the port’s activities as well as fostering the port’s achievements over the past years.
“I am very honored by the confidence placed in me by the Ports Development Company’s board of directors,” said Qutub. “I look forward to collaborating with the King Abdullah Port team members and the relevant authorities in order to continue achieving the success of this vital national facility that was designed and implemented to keep up with the Kingdom’s commercial and economic growth in the coming decades.”
He added: “We will work to strengthen the port’s capabilities to ensure that it continues to contribute effectively to the Kingdom’s renaissance and prosperity while fulfilling the desired role in achieving the logistics vision through the contribution and partnership of the private sector in achieving Vision 2030.”
Qutub’s experience spans over 22 years in many fields and with major regional and international companies such as Savola, Unilever and Emaar The Economic City. Prior to joining King Abdullah Port, Qutub served as the CEO of King Abdullah Economic City’s Industrial Valley. During that period, KAEC Industrial Valley became an ideal destination for local and international industrial and logistics companies, attracting more than 120 leading companies in the pharmaceutical, food, logistics, automotive, construction and packaging sectors. Other achievements included developing the infrastructure of more than 30-square-kilometer and launching numerous initiatives in cooperation with relevant government agencies.
Prior to this, Qutub was responsible for KAEC’s business development in several projects, such as the development of residential districts, medical institutions and educational institutions, including The World Academy.
Qutub graduated with a bachelor’s degree in business administration with honors, and attended several executive education programs in leadership, real estate and economic development with top universities such as Oxford, Harris-Stowe State and Harvard.
The board of directors extended its thanks and appreciation to Abdullah Hameedadin, former managing director at the Ports Development Company, for his valuable efforts over the past years.


ITC gets $180m financing boost from China bank

Updated 20 October 2018
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ITC gets $180m financing boost from China bank

Integrated Telecom Company (ITC) has signed a $180 million financing agreement with ICBC China in Beijing, as part of its goal to develop the Kingdom’s leading gigabit broadband infrastructure. 

Pursuant to this agreement, ICBC will finance ITC’s fiber to the home (FTTH) network rollout, providing 640,000 homes in the Kingdom with gigabit broadband connectivity.

This high-speed FTTH project is a Ministry of Communications and Information Technology (MCIT) initiative, signed with ITC last year. It is a vital component of the Saudi Vision 2030.

ITC CEO Ghassan Itani stated that ITC has achieved an important milestone with this financing agreement, and is proud to participate in this important project carried out with the oversight of the MCIT and the Communications and Information Technology Commission (CITC).

Itani said that this financing reflects the high degree of confidence by investors and foreign banks in ITC’s future vision, the Kingdom’s telecommunications sector and the broader Saudi economy.

“This financing will provide additional liquidity to fund ITC’s development plans which focus upon deploying a gigabit broadband network throughout the Kingdom. We are fully committed to playing a crucial role in the evolution of the telecommunications sector in the Kingdom, and we have achieved noticeable progress with regard to our transformation strategy,” Itani added.