Saudi Arabia’s Amkest Group signs deal with US green energy firm

Saudi Arabia’s Amkest Group signs deal with US green energy firm
Amr Khashoggi, Chairman of Amkest Group and Scott Poulter, Chief Executive of Pacific Green Technologies
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Updated 05 December 2020

Saudi Arabia’s Amkest Group signs deal with US green energy firm

Saudi Arabia’s Amkest Group signs deal with US green energy firm
  • Its expansion into Saudi Arabia through this joint venture is no surprise since the Kingdom is aiming for 30 percent of its energy to come from renewable sources by 2030

RIYADH: US-based Pacific Green Technologies Inc. (PGTK) has signed a joint venture agreement with Amr Khashoggi Trading Co. Ltd. (Amkest Group) to incorporate a company in Saudi Arabia for the sale of Pacific Green environmental technologies.
Amkest Group, founded in 1983, has a history of success in the Kingdom. Its diverse business portfolio includes construction material production and supply, property development and consulting services.
Commenting on the partnership, Scott Poulter, PGTK’s CEO, said: “Saudi Arabia under its Vision 2030 strategic framework, which calls for 9.5 GW of the Kingdom’s energy to be supplied through renewables by 2030, is set to undergo rapid growth.”
Poulter added: “Pacific Green’s technologies, particularly in the solar power, desalination and battery energy storage system sectors, provide the perfect solution to the Kingdom’s growing demand, and we are excited to leverage Amkest Group’s hard-earned relationships to contribute toward the goals of Vision 2030.”
Amr Khashoggi, chairman of Amkest Group, said: “We believe the combination of our experience and knowledge of the Saudi market, coupled with Pacific Green’s portfolio of technologies, provides the foundation for an incredible partnership and the opportunity to offer multiple complementary technologies.”
Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. Its expansion into Saudi Arabia through this joint venture is no surprise since the Kingdom is aiming for 30 percent of its energy to come from renewable sources by 2030.
The deal comes on the back of an expectation that Saudi Arabia will attract more than $20 billion in investments in renewables over the next decade. This forecast was made by the CEO of Saudi National Grid in October, according to a report by S&P Global.


Dubai’s dnata opens $41m cargo complex in the UK

Dubai’s dnata opens $41m cargo complex in the UK
Updated 24 January 2021

Dubai’s dnata opens $41m cargo complex in the UK

Dubai’s dnata opens $41m cargo complex in the UK
  • The dnata City North complex can handle 150,000 tons of cargo per year

DUBAI: Emirates Group’s airport services subsidiary dnata has opened a new £30 million ($41.05 million) cargo complex at Manchester Airport in the north of the UK.

The dnata City North complex can handle 150,000 tons of cargo per year, including pharmaceuticals, perishables, dangerous goods, aircraft engines and vehicles.

Alex Doisneau, managing director of dnata UK, said: “We are thrilled to announce the opening of another world-class cargo facility in a strategic location in the UK. Our new, purpose-built facility in Manchester complements our existing multiple UK operations including the dnata City complex at London Heathrow, enabling customers to enhance their operations in the region.

“Our continued investment and expansion in the UK underlines our commitment to our customers and the local cargo industry at a critical time, providing operational excellence at key gateways across the country.”

Dubai’s dnata offers ground handling, cargo and catering services at 126 airports in 19 countries. In the financial year 2019-20 dnata’s customer-oriented teams handled 681,000 aircraft, moved 2.9 million tons of cargo, and uplifted more than 93 million meals.

The company was hit hard by the coronavirus (COVID-19) pandemic, as trade and travel slowed. In its latest half year results announced in November, the company reported that revenue for the previous six months was down 67 percent to AED2.4 billion ($653 million), leading to a loss of AED1.5 billion, compared to a profit of AED311 million during the same period the year before.