logo
Aljomaih Energy and Water signs $2.3bln Jubail-Buraydah pipeline project

Aljomaih Energy and Water signs $2.3bln Jubail-Buraydah pipeline project

Zawya05-03-2025

Buraydah – Under the patronage of His Royal Highness Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of the Qassim Region, and in the presence of His Excellency the Minister of Environment, Water, and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, along with the CEO of the Saudi Water Partnership Company, Eng. Khaled bin Zaid Al-Quraishi, the consortium led by Aljomaih Energy and Water Company, in partnership with Buhur Investment Company and Nesma Limited Company, signed the agreement for the Jubail-Buraydah Independent Water Transmission Pipeline Project with the Saudi Water Partnership Company. This pioneering project marks the first desalinated water transmission pipeline connecting the Eastern Region and Qassim Region.
The Jubail - Buraydah independent water pipeline project will have a transmission capacity of 650,000 cubic meters per day and a storage capacity of 1,634,500 cubic meters. With length of 587 kilometers, the project operates under a Build, Own, Operate, and Transfer (BOOT) model, with a concession period of 35 years. Commercial operation is scheduled to begin in 2029.
This strategic project to connect the Eastern Region with the Qassim Region via a desalinated water pipeline reflects Aljomaih Energy and Water's commitment to enhancing the sustainability of water resources and developing advanced water infrastructure. With an investment budget of USD 2.3 Billion, this project ensures continuous and effective water provision, serving over two million beneficiaries with a reliable and sustainable source. It aligns with the National Water Strategy 2030 to meet increasing demand and support local economic growth, achieving water availability at 98% of transmission capacity.
In this context, Mr. Ibrahim Aljomaih, Chairman of the Board of Directors for Aljomaih Energy and Water, stated: "This project marks a milestone in our vision to support the National Water Strategy in the Kingdom and the goals of Vision 2030. Through innovative partnerships and leveraging local expertise, this project will contribute to the sustainable management of water resources, becoming a fundamental pillar for social and economic development in the Eastern and Qassim regions."
In light of this achievement, Mr. Adnan Buhuligah, Deputy CEO of Aljomaih Energy and Water, stated: 'This project is a key step toward sustainable water security in the Kingdom. By leveraging strategic partnerships and innovative solutions, we are enhancing water transmission efficiency and ensuring a reliable and resilient water supply for communities The project will also contribute to achieving local content goals, achieving 45% during the construction phase and 70% during the operational phase, with robust water storage systems ensuring high levels of continuous supply.'
This leading project reaffirms Aljomaih Energy and Water's leadership in the water and infrastructure sectors, enhancing its role as a lead developer, operator and trusted partner in driving sustainable development in the Kingdom.
About Aljomaih Energy and Water:
Established in 2007, Aljomaih Energy and Water is a leading Saudi investor, developer, and operator of public utilities and infrastructure projects with a global presence. The company's portfolio includes 10 gigawatts of energy projects, conventional and renewables and 1,300,000 cubic meters/day of water projects in Saudi Arabia, the Middle East, Asia, and Africa. As a subsidiary of Aljomaih Holding Group, Aljomaih Energy and Water combines a legacy of nearly 90 years with advanced expertise to deliver vital infrastructure projects that support economic and social progress. With a strong commitment to sustainability and partnership, Aljomaih Energy and Water continues to play a pivotal role in achieving the Kingdom's infrastructure goals in line with Saudi Vision 2030.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GCC Banks Accelerate Toward USD‑Denominated AT1 Sukuk Surge
GCC Banks Accelerate Toward USD‑Denominated AT1 Sukuk Surge

Arabian Post

timean hour ago

  • Arabian Post

GCC Banks Accelerate Toward USD‑Denominated AT1 Sukuk Surge

Sharjah Islamic Bank and Warba Bank have spearheaded a flurry of USD‑denominated Additional Tier 1 sukuk issuances across the Gulf Cooperation Council, as institutions capitalise on narrower spreads, robust investor demand and abundant liquidity to bolster capital under Basel III norms. Sharjah Islamic priced a US$500 million perpetual issuance with a six‑year non‑call period at 6.125%, tightening from initial guidance of 6.5%, after books exceeded US$1 billion. Simultaneously, Kuwait's Warba Bank concluded a US$250 million AT1 sukuk issuance, re‑offering at a 6.25% yield—also tightened from initial guidance of 6.5%. The instrument, based on a perpetual structure with a 5.5‑year non‑call window, follows Warba's major equity move: the acquisition of a 32.75% stake in Gulf Bank from Alghanim Trading and a KWD 436.7 million rights issuance completed in April. Sharjah Islamic Bank's listing on Nasdaq Dubai marks its fifth sukuk issuance, raising its total sukuk portfolio on the exchange to US$2.5 billion. The deal attracted strong interest from regional and international investors, reinforcing Dubai's growing role as a nexus for Islamic capital. The transaction's pricing depth, with a reset spread of 195.6 basis points—125.7 bps tighter than its 2019 equivalent—highlights an improved cost of capital. ADVERTISEMENT Analysts attribute this wave of AT1 issuances to an increasingly mature Islamic fixed‑income market. GCC banks are under pressure to meet Basel III capital thresholds while tapping investor appetite for Sharia‑compliant instruments amid a global shift towards ethical finance. The depth and oversubscription observed signal confidence in GCC financial stability and growth trajectories. Banking insiders view Sharjah Islamic's move as emblematic of a broader trend. Its programme is now a benchmark in AT1 pricing within the Islamic sukuk arena, and the issuance is being seen as a signpost to other regional banks eyeing capital diversification. Global Capital, a financial news provider, has reported that Warba's issuance helped catalyse the broader GCC AT1 market, with Saudi banks preparing similar deals. Warba Bank's issuance was structured via Warba Tier 1 Sukuk Limited, and it is dual‑listed on the London Stock Exchange's International Securities Market and Nasdaq Dubai. The sukuk follows a Mudaraba structure and was syndicated by joint global coordinators and bookrunners including Emirates NBD Capital, Standard Chartered, Abu Dhabi Commercial Bank and HSBC. The financial backdrop has been supportive: increasing liquidity in global markets, stable benchmark yields in the US, and sustained inflows into Islamic finance vehicles. Sharjah Islamic underscores its confidence in long‑term strategy, stating the issuance supports its capital base aligned with Basel III standards ‫. Meanwhile, Warba's move is synchronised with its stake acquisition in Gulf Bank, reflecting a broader expansion and capital optimisation strategy. Investor sentiment continues to favour GCC issuers. Demand for Sharia‑compliant fixed‑income paper is rising, particularly from European institutional investors and Islamic funds, seeking diversification. Sharjah's issuance was oversubscribed by over two‑times its size, with participation spanning the GCC, Europe and Asia. Gulf markets are responding in kind: Saudi banks are preparing their own AT1 sukuk to finalise in the coming months, encouraged by the positive reception to these pricings.

Qatar Air Force One Gift Deal Still in Limbo
Qatar Air Force One Gift Deal Still in Limbo

Arabian Post

time2 hours ago

  • Arabian Post

Qatar Air Force One Gift Deal Still in Limbo

Arabian Post Staff -Dubai Defense Secretary Pete Hegseth informed the Senate Appropriations Committee on 11 June 2025 that the United States and Qatar have not yet formalised any agreement transferring a Boeing 747‑8 jetliner gifted by the Qatari royal family for potential use as Air Force One. Lawmakers pressing for details were met with repeated deferrals, as Hegseth invoked security and confidentiality concerns. Senators voiced concern over the lack of transparency surrounding the gift. Senator Jack Reed of Rhode Island demanded insight into contractual terms and timeframe for retrofitting the aircraft to meet presidential standards, only to be told such information was 'not for public consumption'. The Pentagon has neither disclosed cost estimates nor identified a specific US contractor for the extensive upgrade work required, including secure communications, defensive capabilities and airworthiness certification. ADVERTISEMENT Despite earlier assurances from Air Force Secretary Troy Meink that retrofitting expenses could remain under USD 400 million, Democrats remain sceptical. Senator Chris Murphy pointed out that past Air Force One modernisation efforts have encountered significant budget escalations, sometimes reaching billions, and questioned the wisdom of funding work on a foreign jet when replacement aircraft are already in production. Republicans, including Senators Jim Risch and Roger Marshall, defended the deal, asserting that Qatar and the UAE are strong US allies and that the jet donation alleviates procurement delays with Boeing. Secretary Hegseth echoed this view, suggesting that accepting Qatar's jet could temporarily ease reliance on delayed Boeing‑built VC‑25B aircraft, though he declined to specify projected completion dates or key benchmarks. Ethical concerns persist across party lines. Opponents argue that accepting a luxury aircraft from a foreign government may trigger Foreign Emoluments Clause issues or at least generate the appearance of impropriety. Qatar, meanwhile, has maintained that the nature of the transaction is under review—possibly a lease or outright purchase rather than a gift—though final details remain unresolved. The Boeing 747‑8 in question, approximately 13 years old, features lavish interiors and advanced technology, earning it the nickname 'palace in the sky.' Converting it to a presidential transport requires secure communications suites, defensive countermeasures, and structural modifications—a process estimated to span years. While Pentagon officials suggest costs may be contained beneath USD 400 million, analysts warn that upgrades for classified systems and nuclear safety could push costs well above one billion dollars. Beyond the technical and ethical dimensions, questions remain over how accepting Qatar's jet might affect broader US defence priorities. Some argue that prioritising resources for a foreign-made interim aircraft could detract from funding the delayed VC‑25B programme, which is pivotal to modernising the presidential fleet. At the same hearing, Hegseth also dismissed calls for transparency, stating that budgetary and negotiating processes must remain classified for national security. This response intensified criticism from Democratic senators, who claim taxpayers deserve clarity on military expenditures and foreign transfers of high-value assets. Meanwhile, Senate Republicans rejected two resolutions aiming to pause arms sales to Qatar and the UAE, signalling ongoing bipartisan support for the Gulf states despite growing unease over Trump administration's foreign dealings. Republicans emphasised the strategic importance of maintaining strong defence cooperation, downplaying concerns over the aircraft gift. The debate is set to continue as the Air Force advances planning and preliminary feasibility studies. Key upcoming moments include formalisation of the memorandum of understanding, selection of retrofit contractors, and disclosure of cost and timeline projections. The outcome will test the administration's balance between diplomatic expediency, financial responsibility, and institutional transparency.

Saudi Arabia and Netherlands sign agreements with investments exceeding $114.13mln
Saudi Arabia and Netherlands sign agreements with investments exceeding $114.13mln

Zawya

time6 hours ago

  • Zawya

Saudi Arabia and Netherlands sign agreements with investments exceeding $114.13mln

AMSTERDAM — Saudi Arabia and the Netherlands have signed a number of agreements and memoranda of understanding (MoU) with investments exceeding SR428 million in Amsterdam. The agreements were inked between a number of Saudi and Dutch companies with the aim to develop and localize modern technologies in the environmental, water, and agricultural fields. Saudi Deputy Minister of Environment, Water, and Agriculture Eng. Mansour Al-Mushaiti attended the ceremony of signing 27 agreements and MoUs during his current visit to the Netherlands from June 10 to 12 in the presence of a number of the Dutch government officials as well as senior executives and business leaders from the public and private sectors. The signing included a MoU between the Saudi National Program for the Development of the Livestock and Fisheries Sector and the Dutch company VigGuard to establish cooperation to localize livestock disease control research. MoUs were also signed between the National Center for Sustainable Agriculture Research and Development, the Dutch Greenhouse Alliance, the Dutch company Hoogendoorn, Hudson River Biotechnology, and Wageningen University, to launch initiatives in the fields of agricultural technology and research, and to establish capacity-building partnerships in the fields of agricultural innovation, greenhouse farming solutions, and green biotechnology. The partnerships also included the signing of a MoU between the National Agricultural Services Company and Delphi to support agricultural innovation. MoUs were also signed between the Makkah Region Development Authority, Van der Hoeven Projects for Protected Agriculture and Horticulture, and Horizon 11 to transfer and localize biotechnology. A MoU was signed between Al-Yasin Agricultural Company and the Cobret Experimental Center to establish a partnership worth up to one million euros to promote biotechnology in control and crop protection. Another MoU was signed between the Saudi Greenhouse Management and Agricultural Marketing Company and Plantae and Certhon with the aim of investing in localizing innovations in the agricultural sector. A memorandum of understanding was signed between the Lehaa Group of Companies for Trade and Agricultural Investment, the Dutch Royal HZPC Group, and the Gal Sahara Potato Production Company, with investments exceeding SR76 million. This will enhance potato production in the Kingdom, in addition to establishing a French fries factory equipped with the latest processing technologies. Eng. Mansour Al-Mushaiti also witnessed the signing of six MoUs between Dafa Agricultural Company and a number of companies specialized in the fields of vegetables, fruits, fertilizers, greenhouses, and software project supply, with investments exceeding SR292 million. It is worth noting that this visit comes within the framework of the plans and vision of the Ministry of Environment, Water, and Agriculture to enhance the global capacity of the Saudi agricultural sector, expand the production and export of local agricultural products, contribute to increasing the volume of trade between the Kingdom and the Netherlands, and strengthen international partnerships, in order to achieve the goals of the Kingdom's Vision 2030. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store