Saudi Arabia to build 9 desalination plants on Red Sea

A worker stands at a desalination plant in Riyadh, Saudi Arabia. (Reuters)
Updated 22 January 2018
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Saudi Arabia to build 9 desalination plants on Red Sea

RIYADH: Saudi Arabia plans to build nine desalination plants for more than 2 billion riyals ($530 million) on the Red Sea coast, its environment minister said on Sunday.
The plants will have capacity of 240,000 cubic meters of water per day and will be completed in less than 18 months, Abdulrahman Al-Fadhli wrote in a Twitter post.
The project, which the minister said was ordered by King Salman in a royal decree, will help government-owned Saudi Saline Water Conversion Corp. (SWCC) raise production efficiency and cut operating and capital costs, Fadhli added.
He gave no details on funding.
Saudi Arabia said in 2016 it planned to use public-private partnerships (PPP) with local and foreign companies to fund infrastructure projects.
In August, it said it would develop resorts on about 50 Red Sea islands, completing the first phase of that project — which is backed by its Public Investment Fund (PIF) — in the fourth quarter of 2022.
($1=3.75 Saudi riyals)


Mexican delegation visits Saudi Arabia to promote trade and discuss investment

The Mexican ambassador further declared that his country, like Saudi Arabia, is one of the top 20 economies in the world and is eager to strengthen mechanisms of collaboration in different areas. (SPA)
Updated 17 November 2018
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Mexican delegation visits Saudi Arabia to promote trade and discuss investment

  • The visiting team expressed their desire to benefit from and contribute to the projects presented by the Kingdom’s Vision 2030

RIYADH: A trade delegation from Mexico called on the Saudi business community to strengthen trade partnerships with their counterparts in Mexico and participate in promising opportunities and investment projects in various areas, especially in the construction and infrastructure sectors.
“A delegation from the National Bank for Services and Public Works (BANOBRAS), the most important development bank in Mexico, visited Saudi Arabia to promote investment opportunities that will bring the countries closer together,” Mexican Ambassador Alfredo Miranda told Arab News on Friday.
Miranda accompanied Alejandro Blasco, head of investor relations at BANOBRAS, and Luis Ampudia, deputy head of investor relations, during the meeting at the Council of Saudi Chambers (CSC).
The Saudi delegation was made up of CSC Secretary-General Saud Al-Meshari; Vice Chairman and Managing Director of the Saudi Fund for Development Khalid S. Alkhudairy; and head of stakeholder management of the Public Investment Fund (PIF) Saad A. Alkroud.
During the meetings, the Mexican delegation shared the opportunities available in Mexico for identifying possible public-private partnerships and financing social infrastructure projects, and they discussed the potential of investment opportunities in Mexico as part of the PIF’s international diversified pool, said the envoy.
The visiting team expressed their desire to benefit from and contribute to the projects presented by the Kingdom’s Vision 2030.
The Mexican ambassador further declared that his country, like Saudi Arabia, is one of the top 20 economies in the world and is eager to strengthen mechanisms of collaboration in different areas, taking into account that Mexico’s GDP is $1.1 trillion, has a population of 129 million inhabitants, an inflation rate of 4 percent and very low unemployment of just 4 percent.
“I am sure both countries will continue to work together in order to have more Mexicans in Saudi Arabia and more Saudis in Mexico,” said Ambassador Miranda.