ACWA, Air Products to develop gas facilities

Updated 20 October 2012

ACWA, Air Products to develop gas facilities

ACWA Holding signed Monday a joint venture partnership with Air Products for the formation of a new company, ACWA Air Products Arabia.
The partnership was signed by Mohammed A. Abunayyan, ACWA Holding chairman, and Howard Castle-Smith, Air Products’ regional vice president tonnage gases Europe and Middle East.
According to them, the partnership will focus on the successful pursuit of large-scale industrial gas opportunities in Saudi Arabia and the Gulf Cooperation Council (GCC) states.
The partnership will support the Kingdom’s speedy economic development by achieving operational excellence, efficient resource utilization, enhanced capital efficiency and environmental protection through value added, innovative and best in global engineering solutions.
Speaking on the occasion, Abunayyan said: “Partnering with Air Products, one of the world’s largest owners and developers of industrial gases, is a strategic move for ACWA Holding to broaden its economic contribution as a major private sector developer for the Kingdom and GCC.”
He continued: “ACWA Holding’s track record as a leading regional owner and developer of facilities in power generation, water desalination and treatment, sewage water treatment, district cooling, and solar and waste management will enable the new joint venture to provide effective and competitive quality industrial gas facilities to serve the region’s hydrocarbon and industrial markets.”
Speaking on his part, Castle-Smith said: “The new venture with ACWA Holding complements Air Products’ existing presence in the Kingdom and the GCC, providing a strong platform to further grow our business there by partnering with prime Saudi industrial investors and developers.”
The new company, ACWA Air Products Arabia, also complements Air Products’ long-standing relationship with Abdullah Hashim Industrial Gases & Equipment Co. Ltd., a company of the privately owned Abdullah Hashim Group based in the Kingdom.
Air Products has been serving the Middle East for over 50 years, and already operates a helium and cylinder gas filling and distribution facility, as well as a specialty gases center in the Jebel Ali Free Zone. Air Products has offices in Bahrain, Qatar and Dubai, and works closely with the region’s petrochemical, gasification and refining industries. It has built, owned and operated air separation units and hydrogen production plants throughout the Middle East.
The new company will add to the success of ACWA Holding as a leading regional infrastructural developer in many areas specializing in power and water and attained remarkable success in just a few years.
ACWA Holding recognized the rapidly growing demand for power and water in Saudi Arabia and identified the benefits that could be gained by both the public and private sectors from the privatization of these two sectors.
Since its founding, ACWA Holding has developed an integrated strategy of diversification into complimentary infrastructure activities including utilities and water management; district cooling; pipe, aluminum and chemicals manufacturing; and industrial mining. More recently, ACWA Holding widened its activities into other infrastructure-related businesses such as the development of privately owned industrial cities, facilities management, and transportation with considerable success in the areas of air cargo and the expansion of the Saudi transportation network and logistics in particular.


Saudi Arabia among top 10 in UN’s e-commerce index

Updated 09 December 2019

Saudi Arabia among top 10 in UN’s e-commerce index

  • The index ranked the Kingdom 49th in the global ranking

RIYADH: The UN e-commerce index ranked Saudi Arabia among the top 10 countries in the e-commerce sector. 

The index, issued by the UN Conference on Trade and Development, ranked the Kingdom 49th in the global ranking, rising three places in the general index.

The report indicated that the improvement achieved by the Kingdom came from two criteria: The proportion of Internet use — which has risen to 93 percent — and the rising postal reliability standard.

Saudi Minister of Communications and Information Technology Abdullah bin Amer Al-Sawaha said that this achievement came as a result of unlimited support from the leadership.

He added that the ministry works with partners to develop the Kingdom’s digital capabilities to invest in the growth of future projects in order to achieve the Kingdom’s Vision 2030 reform plans.