DAMMAM, 2 March 2006 — The acting general manager of customs, Muhammad Sulaiman Al-Tuwaijri, has signed a contract for developing the electronic fee gate system over the King Fahd Bridge from the Saudi and Bahraini sides. The contract was signed at the headquarters of the institution, Four System Company Ltd., which was represented by Ahmad Al-Homoud. The value of the contract is SR6.5 million and it will take six months to complete the project. The new system will replace the old system, make it easy to pay the bridge fees and will save time.
Prince Alwaleed
Backs Time Warner
Arab News
RIYADH — Prince Alwaleed ibn Talal, president of Kingdom 5KR-62 Ltd. and Kingdom 5KR-63 Ltd., announced on Tuesday that he was pleased with the way events are unfolding at Time Warner. Prince Alwaleed had previously stated that he supported Time Warner CEO, Dick Parsons, and did not believe that Time Warner should be broken up. Prince Alwaleed stated that he has been following the situation closely and had been in contact with Parsons. The prince said that he had been ready to act as he had done in a similar situation last year concerning News Corp. where he had indicated support for Rupert Murdoch and then converted from non-voting shares to voting shares in the company in further support of management. Prince Alwaleed attempts to be a “white knight” and a trusted friend of the management.
Khurais Projects
to Be Ready in 2009
Reuters
RIYADH — Saudi Arabia said yesterday it expects its Khurais development project to add 1.2 million barrels per day (bpd) of Arabian Light crude by June 2009. “The mission of the program is to design, construct and bring into production safe and reliable facilities to produce 1.2 million barrels per day of stabilized Arabian Light crude,” state oil firm Saudi Aramco said on its website. “It is expected to be completed by June 2009,” it said, adding that the project would also produce 315 million cubic feet per day of sour gas and 70,000 bpd of natural gas liquids. Aramco said the Khurais project covers three oilfields - Khurais, Abu Jifan and Mazalij.