MEFSCO opens SR630m expansion program in Al-Kharj

Saqr bin Issa Al-Dajani, deputy mayor of Al-Kharj, launched the program.
Updated 23 January 2018
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MEFSCO opens SR630m expansion program in Al-Kharj

Middle East Food Solutions Company (MEFSCO) launched its new expansion program in Al-Kharj on Wednesday under the patronage of Musaed bin Abdullah Al-Madi, governor of Al-Kharj.
Saqr bin Issa Al-Dajani, deputy mayor of Al-Kharj, launched the program with an investment reaching SR630 million ($167.4 million).
The project was initially supported by the Saudi Industrial Development Fund (SIDF) to increase the production of corn starch and its allied products such as glucose, fructose and crude corn oil. The expansion is expected to yield increased production to serve the local as well as the regional markets.
President of MEFSCO Ziyad Al-Sheikh said the increased production will serve the local market as well as promote more Saudi exports to the Middle East. He added that the expansion program is in line with the Saudi Vision 2030, which is aimed at diversifying the Kingdom’s economy to meet with global standards.
Describing it as a novel project, Al-Sheikh said it is designed to produce starch and sweeteners under the Saudi-US partnership represented by the Saudi company ARASCO and the American company Cargill.
Several officials from the public and private sectors and representatives from the US Embassy attended the program.
The project is aimed at transferring modern technologies and developing local human resources for services such as engineering, marketing, sales, logistic support and food development services.
Abdulmalik Alhusseini, CEO of ARASCO, said the expansion program would help grind 350,000 tons of corn and the capacity is expected to exceed one million tons during the coming years. He also said the plant is expected to produce corn sugar (fructose) which would cater to the growing needs of the local and regional markets.
Besides vast experience in production, Alhusseini pointed out that ARASCO and Cargill Foods METNA are fully conversant with investment and logistics programs.
“Exchanging experiences, transferring modern technologies and sharing of international experiences would help reach the main goals of the Kingdom to attain food security and promote economic diversification in Saudi Arabia,” Alhusseini said.
Regional Managing Director Murat Tarakçıoglu said the Kingdom has created a conducive climate to attract investments from international companies. “By partnering with ARASCO, we are reaping the fruits of the Kingdom’s efforts to increase local production to meet the needs of the Saudi food production industry.”


Real estate landscape to be explored

Updated 17 February 2019
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Real estate landscape to be explored

Informa Middle East, organizer of the Cityscape portfolio of events, will roll out a trio of back-to-back events across Egypt, Saudi Arabia and the UAE between March 24 and April 18.

With the specific market dynamics of each destination being explored through dedicated country events, the 2019 Cityscape series springs into action with Cityscape Egypt at the Egypt International Exhibition Center (EIEC) in Cairo. A two-day conference kick-starts the Egypt schedule on March 24 and 25, before the exhibition takes centerstage from March 27 to 30. 

Cityscape then moves to the Center for Forums and Events in Jeddah, which includes an exhibition from April 5 to 7, before a one-day workshop on April 7. Finally, a return to Abu Dhabi National Exhibition Centre (ADNEC) includes a three-day exhibition from April 16 to 18 with an influential agenda on the lineup at the conference set for April 16.

“It’s a packed three-week schedule with a very distinct market approach and program for each destination,” said Chris Speller, Cityscape group director. “This year more than ever, Cityscape will drill down into the specifics and varied issues affecting each market. While opportunities continue to abound across the region, each market requires very different approaches from consumers, government entities and private developers to realize them. 

“With each market at varying stages of maturity and subject to very different developmental concerns, the conference and exhibition stops in Egypt, Saudi Arabia and Abu Dhabi enable industry professionals and public investors to engage with people at the sharp end of the business, understand and seize opportunities, and network for future growth,” added Speller.

In Egypt, the conference will focus on “Energizing the Market and Reinstating Confidence” with government authorities, experts, and market influencers scheduled to spell out the country’s strategic vision to achieve real estate market maturity. 

Expecting a turnout of more than 40 exhibitors and over 8,000 visitors, Cityscape Jeddah this year looks to align with the goals of the Kingdom’s real estate market in light of its Saudi Vision 2030 economic diversification plan.

“Vision 2030 reforms are expected to attract major investment into a Saudi real estate sector predicted to double its contribution to the national economy right through this decade,” said Speller. 

“Over the past few years, we have witnessed Saudi Arabia make significant strides in attracting foreign and local investment, implementing various urban regeneration initiatives, and investing in infrastructure.”

This recent progress, when aligned with the various projects being green-lit, will no doubt transform the country into a global investment powerhouse. We believe Cityscape Jeddah will help drive investment in the Saudi sector by enhancing its standing as a crucial meeting point for regional and international leaders who can contribute to making Vision 2030 a reality.”

With a focus on “Achieving Diversification and Energizing the Market,” the Jeddah workshops will feature prominent investment panel discussions which dive into how the country’s tourism and hospitality sector agenda can impact Vision 2030. The Cityscape outings in Cairo and Jeddah will both feature dedicated editions of the Cityscape Awards, which recognize and celebrate excellence in real estate development and architecture. 

The UAE capital’s official real estate event platform, Cityscape Abu Dhabi is held under the patronage of Sheikh Mohammed bin Zayed Al-Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces. The one-day conference agenda will explore the future of regulatory and technological innovation with a strong focus on the government sector’s growth strategy for the UAE capital.