Multi-storey factories project supports entrepreneurs: Alkhorayef
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
14 minutes ago
- Argaam
GAS likely to deliver positive H2 2025 results: CEO
Gas Arabian Services Co. (GAS) will likely maintain its positive performance during the second half of 2025, Vice-Chairman and CEO Faisal Al Dabal told Argaam. The company's order book and project pipeline are forecast to expand, he added. The value of supply orders and the ongoing project contracts reached approximately SAR 2.22 billion by the end of H1 2025, up from SAR 1.66 billion at the beginning of the year, a strong indicator of the company's positive future performance, Al Dabal noted. The 54% year-on-year (YoY) growth in H1 2025 profit was primarily spurred by a 33% revenue growth, along with an increase in the gross profit margin from 16% to 18%. Al Dabal stated that GAS's strong bottom line was supported by its robust operating performance. The technical services segment reported a SAR 159 million increase in sales, followed by the manufacturing business division (SAR 8 million). The CEO cited a change in the relative contribution of each segment to total revenue. The share of technical services rose from 42% to 56%, while the manufacturing segment's share increased from 2% to 3%. However, the commercial segment's share declined from 56% to 41%. Sharing details on the company's transition to the Main Market (TASI), Al Dabal said that talks are ongoing with the Saudi Exchange (Tadawul) through a financial advisor.
Argaam
44 minutes ago
- Argaam
MODON awards project to consortium including SISCO Holding's Tawzea
Sustained Infrastructure Holding Co. (SISCO Holding) said a consortium including its 50%-owned subsidiary, International Water Distribution Co. (Tawzea), won on Aug. 6 a project from the Saudi Authority for Industrial Cities and Technology Zones (MODON). In a statement to Tadawul, the company said the project involves the design and construction of a wastewater and industrial water treatment plant, along with a storage and distribution system for treated water intended for industrial irrigation in Waad Al Shamal City for Mining Industries, located in the Northern Borders Province, Saudi Arabia. The consortium consists of two companies, with Tawzea holding a 51% stake in the consortium. In addition, Tawzea owns 39% of the company to implement the project. The project is valued at SAR 53.29 million, inclusive of VAT, and will last seven years—30 months for construction, followed by 48 months of operation, maintenance, and preservation.
Arab News
44 minutes ago
- Arab News
Saudi envoy, Balochistan governor discuss mobility, investment, regional ties
ISLAMABAD: Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki has acknowledged efforts by the governor of Balochistan to facilitate direct travel from Quetta to the Kingdom following a meeting between the two officials to discuss mobility, investments and regional ties, the governor's office said on Thursday. The envoy's meeting with Jaffar Khan Mandokhail, held in Islamabad, reflects a broader trend of Saudi engagement beyond Pakistan's federal capital, with Balochistan, a resource-rich but underdeveloped province increasingly seen as strategically important in regional trade and energy corridors. Both sides discussed 'cordial relations between the two brotherly Islamic countries… regional economic and political developments and matters of mutual interest,' the statement from Mandokhail's office said. 'Ambassador Nawaf bin Said Al-Malki appreciated Governor Mandokhail's personal efforts in facilitating direct travel from Quetta to Saudi Arabia for the people of Balochistan,' the governor's office said in a statement. While the statement did not elaborate on timelines or agreements regarding direct travel between Quetta and Saudi Arabia, the ambassador's reported remarks signal interest in easing mobility for religious pilgrims, workers and business travelers from the province, many of whom currently travel via Karachi or Islamabad. The meeting also underscores growing recognition of Balochistan's role in Pakistan's future economic landscape, as well as Saudi Arabia's intent to broaden the scope of its bilateral engagement beyond federal corridors of power. Mandokhail, for his part, reaffirmed the strength of bilateral ties. 'History bears witness to Saudi Arabia's special support for Pakistan during every difficult time,' he said, according to the statement. Saudi Arabia remains one of Pakistan's closest diplomatic and economic partners. In recent months, the Kingdom has reaffirmed its intention to invest in large-scale infrastructure, mining, and agricultural projects across Pakistan, including in Balochistan. Saudi financial assistance has also been critical to Pakistan's macroeconomic stability, particularly during periods of external financing stress.
