Veolia, Bio-Acids to build KSA’s first citric acid plant

Dr. Badr Ghawji, MD of Veolia Water Technologies KSA, and Yassir O. Al-Sebaei, MD of Saudi Bio-acids Company.
Updated 08 September 2018

Veolia, Bio-Acids to build KSA’s first citric acid plant

Veolia Water Technologies Saudi Arabia has announced its latest contract with Saudi Bio-Acids Company. Under the agreement, Veolia will design and build full turnkey wastewater treatment plants for a new greenfield factory in Jeddah.

The plants will integrate several of Veolia’s innovative technologies — including the Biothane Advanced EGSB Anaerobic, membrane bioreactor (MBR), as well as tertiary treatments using reverse osmosis technology.

Saudi Bio-Acids Company aims at build the Arab world’s first citric acid production facility. The company is targeting a production output of 80,000 metric tons within two years for three different products — citric acid anhydrous (CCA), citric acid monohydrate (CAM) and trisodium citrate (TSC) — after commencing operations at the plant. Citric acid is used in many industries that range from food and beverages to pharmaceuticals and personal care.

 Currently, most of the demand for citric acid across the Middle East is met with imports from overseas. With this plant, Saudi Arabia will start producing this important component for the food industry in the Kingdom.

Dr. Badr Ghawji, managing director of Veolia Water Technologies Saudi Arabia, said: “Our suite of water and wastewater solutions offers maximum technical advantages for our clients, and we look forward to recommending our anaerobic technologies to more food and beverage manufacturers operating in this region.”

Emirates NBD opens branch in Alkhobar

Updated 20 September 2018

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.