Desert Technologies inaugurates photovoltaic plant to generate 500kW power

Located in AlJomaih, the second industrial city of Riyadh, the solar plant will cover over 70 percent of the facility’s energy requirements in its initial phase.
Located in AlJomaih, the second industrial city of Riyadh, the solar plant will cover over 70 percent of the facility’s energy requirements in its initial phase.
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Updated 06 July 2022

Desert Technologies inaugurates photovoltaic plant to generate 500kW power

Desert Technologies inaugurates photovoltaic plant to generate 500kW  power

RIYADH: Jeddah-based Desert Technologies Investment Co. and AlJomaih & Shell Lubricating Oil Co. have inaugurated a 500kW-photovoltaic plant.

JOSLOC is part of AlJomaih Holding Group that installed 1,276 solar panels from the Desert Technologies Industries factory, according to Solar Quarter. 

Located in AlJomaih, the second industrial city of Riyadh, the solar plant will cover over 70 percent of the facility’s energy requirements in its initial phase, Saher Hashem, CEO of JOSLOC, said. 

“The new solar energy project has proven that AlJomaih and Shell are moving toward expanding solar energy solutions, which contributes to saving energy and preserving the environment by reducing harmful carbon dioxide emissions and promoting a green economy,” he added. 

“This is in line with the Kingdom’s orientations and the goals of Vision 2030 aimed at enabling the renewable energy sector to effectively contribute to the national energy mix,” Hashem said.


Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses
Updated 21 sec ago

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

RIYADH: Saudi Enaya Cooperative Insurance Co.’s board proposed a capital reduction of SR50 million ($13 million).

Upon the reduction, the company will increase its capital by SR130 million through a rights issue, bringing the company's capital to SR230 million, the company said in a bourse filing.

Enaya is reducing its capital to amortize its accumulated losses, it said.


Saudi Aslak to acquire 30% stake in UAE A-1 Fence’s Dammam-based unit

Saudi Aslak to acquire 30% stake in UAE A-1 Fence’s Dammam-based unit
Updated 8 min 8 sec ago

Saudi Aslak to acquire 30% stake in UAE A-1 Fence’s Dammam-based unit

Saudi Aslak to acquire 30% stake in UAE A-1 Fence’s Dammam-based unit

RIYADH: Saudi cable manufacturer Aslak has signed a deal with UAE’s A-1 Fence DMCC C0. to acquire a stake in its wholly owned unit based in Dammam.  

Formally known as United Wire Factories Co., the firm revealed in a bourse filing that it will acquire a 30 percent stake of the capital of A-1 Fence Arabia Co. for Industry.

The share purchase agreement is subject to approval from the Kingdom’s General Authority for Competition and relevant regulatory authorities.

This potential deal comes as Aslak aims to diversify its sources of income and maximize profitability through a pool of investments.


Egyptian, Canadian ministers discuss cooperation

Egyptian, Canadian ministers discuss cooperation
Updated 15 min 33 sec ago

Egyptian, Canadian ministers discuss cooperation

Egyptian, Canadian ministers discuss cooperation
  • Sajjan said: “I was impressed by the Egyptian vision of empowering women.”

CAIRO: Nevin Al-Kabbaj, Egypt’s minister of social solidarity, met with Harjit Sajjan, Canada’s minister of international development, to discuss cooperation in various fields.
Al-Kabbaj reviewed her ministry’s programs and activities, including those focusing on the rights of women and the disabled.
Sajjan said: “I was impressed by the Egyptian vision of empowering women.”
Al-Kabbaj expressed her appreciation for the efforts of the Canadian Embassy and the Canadian Development Agency to support development in Egypt and her ministry’s economic-empowerment projects.


Saudi cement producer Umm Al-Qura’s profit drops 55% as sales slump

Saudi cement producer Umm Al-Qura’s profit drops 55% as sales slump
Updated 27 min 45 sec ago

Saudi cement producer Umm Al-Qura’s profit drops 55% as sales slump

Saudi cement producer Umm Al-Qura’s profit drops 55% as sales slump

RIYADH: Saudi cement producer, Umm Al-Qura Cement Co. has posted a 55 percent decline in net profit during the first half of 2022 owing to lower cement sales.

Profits in the first half dropped from SR49 million in the same period last year to SR22 million ($5.9 million), according to a bourse filing.

The company attributed the decline in net profit to a decrease in sales value and an increase in selling, marketing, and administrative expenses.

Its revenue declined 19 percent to SR125 million during the current period from SR154 million during the previous period.


Ksrelief chief meets Omani former conjoined twins 15 years after their separation

Ksrelief chief meets Omani former conjoined twins 15 years after their separation
Updated 28 min 3 sec ago

Ksrelief chief meets Omani former conjoined twins 15 years after their separation

Ksrelief chief meets Omani former conjoined twins 15 years after their separation
  • Al-Rabeeah met with Safa and Marwa Muhammad bin Nasser Al-Jardani and their parents in Riyadh
  • The twins were successfully separated 15 years ago

RIYADH: The supervisor general of the King Salman Humanitarian Aid and Relief Center received on Wednesday a set of Omani former conjoined twins whom he operated on in 2007.

Dr. Abdullah Al-Rabeeah met with Safa and Marwa Muhammad bin Nasser Al-Jardani and their parents at the KSrelief headquarters in Riyadh.

The twins underwent successful surgery to separate adhesions in their skulls, brain membranes, and intervening veins at King Abdulaziz Medical City in Riyadh fifteen years ago.

Al-Rabeeah said Saudi Arabia’s program to separate conjoined twins enjoys a high international status that would not be possible without the support of the Kingdom’s leadership.

The supervisor general of Ksrelief Dr. Abdullah Al-Rabeeah talks to Omani former conjoined twins Safa and Marwa and their father in Riyadh. (SPA)

He added that the Kingdom has become specialized in performing complex surgical operations due to its advanced human and technical capabilities that make it a desired destination for anyone who requires treatment, whether from inside or outside Saudi Arabia.

He noted that the program embodies the humanity of the Kingdom, which transcends continents, borders and races to heal wounds and relieve human suffering.

The latest beneficiaries of the program are Yemeni twin girls Mawaddah and Rahma who were born conjoined at the lower chest and abdomen.

The baby girls from Aden were successfully separated in July.

The parents of the Omani twins expressed their gratitude to the Kingdom for facilitating the necessary efforts to separate and treat their daughters, adding that the kind gesture had had a great impact on their lives.