Saudi industrial firms gain as US facilities step up role

Updated 10 December 2017
0

Saudi industrial firms gain as US facilities step up role

JEDDAH: The Saudi Arabian General Investment Authority (SAGIA) said that the number of American facilities in the Kingdom increased in December 2017 to 462, with a total capital exceeding SR56.7 billion ($15.1 billion), according to a report published by Al-Eqtisadiah newspaper on Dec. 7.
The report quoted a SAGIA statement of Dec. 6 made during a visit by a US delegation representing major American companies in Riyadh. The SAGIA statement noted that most of the American investments are in the industrial sector, where the investment reached a total of $11.8 billion, making about 78 percent of total American investments in the Kingdom.
Moreover, SAGIA added that Saudi Yanbu Petrochemical Company (YANPET) has the biggest share of American investments, and the total funds of this company reached $5.2 billion. The other company, which also received a big share of investments, is Saudi Aramco Mobil Refinery Company Ltd. (SAMREF), with total funds of $2.5 billion. Both YANPET and SAMREF operate in the petrochemical field.
SAGIA’s statement added that 14 licenses were issued in 2017, with a total fund of $101.7 million. Some of the main licenses offered include the global offshore contract driller RAWAN with a total fund of $50 million, and the health care company TADAWI with a total fund of $26 million. One of the most important cooperative projects with the US, which was licensed in 2017, is the Saudi-American Early Intervention center, which offers services to people with special needs.


Disappointed fans hail improved performance by Saudi Green Falcons but defeat ends World Cup dream

Updated 21 June 2018
0

Disappointed fans hail improved performance by Saudi Green Falcons but defeat ends World Cup dream

  • A fan named Yousif, who watched the match at the General Sports Authority viewing tent, was happy that the game at least was close this time.
  • Saudi Arabia will face off against Egypt, who also lost their opening two group A games against Uruguay and Russia, on June 25.

JEDDAH: Saudi Arabia’s World Cup dreams were shattered after Uruguay beat the Green Falcons 1-0 in the second of the three group-stage matches. Most Saudi fans in Jeddah were much happier with the team’s performance in game two, following the resounding 5-0 defeat by host nation Russia in the opening match on June 14, but still bitterly disappointed by the loss, which means they cannot qualify for the knockout stages.

Yousif, who watched the match at the General Sports Authority viewing tent, was happy that the game at least was close this time. “Although we lost, the performance was much better than the first game with Russia. I hope we win our next match,” he said.

Nasrah, who watched the game with her two sons, said: “I was really disappointed because we played good today and nothing less than a win should have been acceptable. I am also disappointed to see the looks on my boys faces when the game ended as they were hoping for a win.”

Khalid Al-Raghbi said at least it had been a good match to watch. “We played a bit better today,” he added. “I wish we would have won but at least we performed better than our last match against Russia.”

Before the game, Ibrahim Al-Turki had been optimistic about Saudi Arabia’s chances. “We didn’t expect today’s result. I was thinking that Saudi would win by two goals, and Uruguay would score one,” he said.

The result was especially disappointing given the close result and the number of chances the Saudis had to score, said Badr, who added: “I don’t know what to tell you because we are deeply disappointed. At least if we lost with a big defeat I would say we deserved it. We had the potential but we could not score.”

Shadi Al-Ghamdi said he wished the national team’s much improved performance in their second game had been more evident in their first. “I am very proud of the players, I thought they played very well. I just wish they had played like this against Russia," he said.

Safah was less complimentary and said that the Saudi players had let their fans down, adding: “They seemed scared whenever they attempted to score any goals.”

Saudi Arabia will face off against Egypt, who also lost their opening two group A games against Uruguay and Russia, on June 25. It will be the final game in the competition for both sides, with only pride to play for, as they battle it out to see who will finish third in the group and who will be left in bottom spot.