EEIC wins Fadhili Gas Plant contract
EEIC wins Fadhili Gas Plant contract
A specialist in providing these prefabricated buildings, EEIC has a long history of providing these structures to similar projects such as the Uthmaniyah project.
In line with the Vision 2030, EEIC seeks to not only further expand its reach but also to maintain its competitive edge by working alongside global technology providers and companies such as Tecnicas Reunidas (TR) with whom it shares a long and successful partnership.
Mohamed Tayel, commercial operations director of EEIC said: “Fadhili Gas Plant is one of many megaprojects that EEIC has worked on alongside Tecnicas Reunidas. We have a long history of working with them and are looking forward to doing so once again. It is also a great time for Saudi companies like us to come forward and take advantage of the encouragement and push given by the government. We have skilled workers, factories on a par with international standards and can, therefore, deliver excellent results locally.”
The FGP, located approximately 30 km southwest of Khursaniyah Gas Plant, has a total capacity of 2,500 million standard cubic feet per day (mmscfd) and presents a dynamic opportunity for further developing and utilizing the Kingdom’s gas reserves.
Being associated with a megaproject of this nature is a great prospect for its main contractor, TR that was awarded the project by Saudi Aramco as well as for local companies like EEIC brought on board to provide the electrical scope for the FGP.
Emirates NBD opens branch in Alkhobar
Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar.
As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame.
UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.
Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia.
“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD.
“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.”
Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.
Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.”
Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.