- Abu Dhabi clean energy company?Masdar’s total investment in Uzbekistan?has reached $4 billion, with 1.4 gigawatts of clean energy from its projects now connected to the national grid in the country.
- The company on Thursday signed an implementation agreement to develop a?two-gigawatt wind farm announced in May.
- The new agreement also includes the deployment of 1,150 megawatt hours (MWh) of battery energy storage capacity, up from the 500 MWh announced in May, across five of the company's projects in Uzbekistan, Masdar said on Thursday.
- Saudi Arabia's sovereign wealth fund, the?Public Investment Fund, has bought a 23.08% stake in the Middle East Paper Company (Mepco) as the fund continues to?expand its portfolio?in key sectors of the kingdom's economy.
- The PIF acquired the stake in the?Tadawul-listed Mepco?by increasing capital and subscribing to new shares, it said on its website on Thursday.
- Ignis Ventures Ltd, a prominent Seychelles-based company, has successfully secured a strategic increment of $3 million from private investors in the United Arab Emirates in exchange for equity. This infusion of capital comes at a time when Ignis Ventures Ltd is poised for expansion and further market penetration.
- The company, valued at $70 million, boasts a diverse portfolio of services, including startup planning, marketing strategies, product development, and brand building.
- As a result of ongoing economic reforms, Saudi Arabia recorded a 29.13 % surge in foreign direct investment inflows in the third quarter of 2023, compared to the previous three months.
- FDI inflows, which refer to the total amount of capital and investment into Saudi Arabia from foreign investors or entities, totaled SR7.99 billion ($2.13 billion), a rise from SR6.2 billion recorded in the previous quarter, data from the Saudi Central Bank, also known as SAMA, showed.
