A round-up of this week's top stories
MEED | Middle East Economic Digest
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Saudi-led teams win $7.8bn power contracts
Saudi Arabia’s principal power buyer, Saudi Power Procurement Company (SPPC) has awarded contracts to develop and maintain?four thermal independent power producer (IPP) projects in the kingdom. …read more
Saudi Giga Projects 2024 is an extensive report analysing Saudi Arabia's giga projects, encompassing 17 projects worth over $850 billion. It offers detailed insights into each project, including contracting packages, timelines, key personnel, and phasing. …read more
Alstom secures Al-Ula tram deal
Saudi Arabia’s Royal Commission for AlUla (RCU) has announced that France’s Alstom will provide rolling stock and systems for the Al-Ula tram scheme. The first phase of the tram scheme is 22.4-kilometre-long line. …read more
Saudi Aramco and Neom's Enowa sign e-fuel deal
Saudi Aramco and Enowa, Neom's energy and water subsidiary,?have signed a joint development agreement to construct and establish a synthetic electro fuel (e-fuel) demonstration plant. …read more
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PIF drives unprecedented economic transformation
The governor of Saudi Arabia’s Public Investment Fund (PIF) and chairman of Saud Aramco has said that the PIF is driving economic transformation at a scale never seen before. …read more
Kingdom Holding signs Red Sea Project deal
Gigaproject developer Red Sea Global (RSG) has completed an investment deal with Kingdom Holding Company (KHC).?The SR2bn ($533m) joint venture formed by RSG and KHC is a 50:50 partnership. …read more
Neom forms $10bn logistics joint venture
Neom and Denmark-based DSV have announced a $10bn logistics joint venture to support the development of the projects taking shape within the $500bn gigaproject?in the northwest of Saudi Arabia. …read more
Preferred bidder emerges for Al-Haer plant
Saudi Water Partnership Company (SWPC) has named a team comprising the?local Miahona Company and Belgium's Besix as the preferred bidder for the contract to develop and maintain. …read more
Chinese firm plans 30GW solar manufacturing hub
China's Trina Solar has announced plans to set up a solar production and supply chain hub in the UAE. The hub is envisaged to produce up to 50,000 tonnes of silicon, 30,000MW of silicon wafers. …read more