Arab Sea seals SAR 14.7M project contract with SPA
In a statement on Tadawul today, July 17, the company said the 36-month contract covers IT system maintenance and operations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
an hour ago
- Argaam
SGS finds 107 minerals, rocks; identifies 5,650 sites
The Saudi Geological Survey (SGS) announced that the number of minerals and rocks finds in the Kingdom has exceeded 107, with a total of 5,650 mineralization sites identified so far. It said the recently-updated geological surveys helped improve elemental distribution maps and statistical data, resulting in higher site counts between 2022 and 2024. Gold sites rose 1% from 850 to 859, silver increased 0.78% from 256 to 258, and copper grew 0.52% from 576 to 579. Clay rock sites climbed 1.73% from 347 to 353, crushed stone jumped by 1.25% from 319 to 323, and limestone edged up 0.35% from 571 to 573. SGS said these efforts align with the Saudi National Industrial Strategy (NIS) and the Integrated Strategy for Mining and Mineral Industries.
ArabGT
an hour ago
- ArabGT
Meet Aurus: Russia's Answer to Rolls-Royce Soon Built in Saudi Arabia
In a recent interview with Russia's TASS news agency, Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, revealed the Kingdom's openness to international automotive brands interested in establishing production lines within Saudi Arabia. 'We are working toward producing more than 300,000 vehicles locally, which accounts for nearly 40% of the market,' the minister stated, adding that Saudi Arabia welcomes any brand seeking to set up localized manufacturing operations. Among the names drawing particular attention is Aurus, the Russian luxury carmaker known for crafting the official presidential vehicle used by President Vladimir Putin. Saudi Arabia has expressed interest in assembling Aurus vehicles domestically—part of the country's broader efforts to develop its automotive industry and localize production capabilities. From State Limousines to Civilian Icons Founded in 2018, Aurus Motors began as a state-backed initiative to develop a new fleet of official motorcade vehicles for the Russian presidency, replacing the Mercedes-Benz S 600 Pullman Guard. The brand debuted its flagship sedan, the Aurus Senat, for civilian use in May 2021. According to the automaker, 115 units were sold in 2023, and facelift versions are scheduled for 2026 and 2030. A refreshed model was already delivered to President Putin in 2024. The name 'Aurus' combines the Latin word aurum (meaning gold) or aura with 'Rus,' symbolizing a blend of prestige and Russian heritage. A National Project with Global Ambitions Aurus's development began in 2013 through NAMI, the Central Scientific Research Automobile and Automotive Engines Institute, with the goal of crafting a fully homegrown Russian state limousine. In 2018, the Aurus Kortezh line was officially introduced, comprising the Senat sedan and limousine, the Arsenal van, and the Komendant SUV—each named after towers of the Kremlin. In 2019, Abu Dhabi-based Tawazun Holding acquired a 36% stake in Aurus Motors for $124 million, with plans to distribute the vehicles across the Middle East. Civilian production began in May 2021 at the Ford Sollers plant in Yelabuga, Tatarstan, which also produces the Russian-market Ford Transit. Launch pricing started at approximately 18 million rubles (around $243,000), with the limited launch edition priced at 22 million rubles (about $297,000). Luxury Meets Performance: Aurus Lineup As of today, the Aurus lineup includes four main models: the standard Senat sedan, a limousine variant, an extended-wheelbase edition, and the Komendant SUV. Armored versions are also available to meet the needs of dignitaries and VIP clients. The Komendant SUV is powered by a 4.4-liter twin-turbo V8 hybrid powertrain paired with a 9-speed automatic transmission and all-wheel drive. It delivers 598 horsepower, accelerates from 0 to 100 km/h in 6.5 seconds, and reaches a top speed of 220 km/h. It measures 5380 mm in length, 2004 mm in width, 1819 mm in height, and weighs 3175 kg, with a ground clearance of 230 mm. The Senat shares the same hybrid V8 setup but offers slightly higher performance, with a 0–100 km/h sprint in just 6 seconds and a top speed of 250 km/h. Its dimensions are 5632 mm in length, 2020 mm in width, and 1689 mm in height, with a ground clearance of 200 mm and curb weight of 3235 kg.
Argaam
2 hours ago
- Argaam
ARTEX sells subsidiary building for SAR 41.3M, expects SAR 38.7M in returns, cash flows
ARTEX Industrial Investment Co. signed a contract to sell a building, belonging to one of its subsidiaries, the National Spinning Co., the disposal of which will not affect the operational business of Lamina Limited, for a value of SAR 41.31 million, excluding fees and taxes, if any, and the assignment of the leased land on which it is located as part of the company's planned strategy. In a statement to Tadawul, the company said that the asset's book value is SAR 592,260, adding tht there are no preferential terms or conditions. According to the company, the financial statements for the last three years of the asset forming the subject matter of the transaction are as follow: In 2022, the amount is SAR 883,535, in 2023 (SAR 767,024), and in 2024 (SAR 650,515). The transaction aims at the implementation of the company's strategic plan and achieving returns through optimal utilization of unused assets. The transaction is expected to have a positive impact as follows: Achieving returns and cash flows of SAR 38.70 million. According to Argaam 's data, Artex signed, on May 7, a binding agreement worth SAR 41.31 million with Lamina Co. Ltd. to waive the lease contract of a land plot belonging to the Saudi Authority for Industrial Cities and Technology (MODON) in the Riyadh Second Industrial City, which was formerly used as a spinning factory site.
