Latest news with #Dhahran
Bloomberg
3 days ago
- Business
- Bloomberg
Aramco to Keep Borrowing Amid Cash Flow Squeeze
Saudi Aramco CEO Amin Nasser says the company is targeting more borrowings to finance growth and better leverage its balance sheet. He spoke exclusively to Horizons Middle East and Africa anchor Joumanna Bercetche at the company's headquarters in Dhahran, Saudi Arabia. (Source: Bloomberg)
Zawya
3 days ago
- Business
- Zawya
TAQA Saudi Arabia announces CEO transition as part of strategic growth agenda
DHAHRAN, Saudi Arabia/PRNewswire/ -- Industrialization and Energy Services Company ("TAQA"), a global leader in energy and industrial services, today announced that Khalid Nouh will step down from his role as Chief Executive Officer, effective 31 May 2025, as part of the company's ongoing evolution and long-term strategic growth agenda. Since his appointment in 2019, Khalid Nouh has been instrumental in transforming TAQA into a unified global organization. Under his leadership, the company successfully integrated a series of value-driven acquisitions, including Tendeka (Completions), AZR (Wireline), OPT Chemicals, Cougar Drilling Solutions, Oliden Technologies, and AlMansoori Petroleum Services (AMPS). These integrations positioned TAQA as a fully integrated energy services provider with more than twelve service lines and 5,500 employees across global markets. During his tenure, TAQA digitized its business operations under a single platform, launched Centers of Excellence in Drilling, Completions, and Intervention, and established TAQA Geothermal, aligning the company with regional energy transition ambitions. Additionally, Khalid played a key role in positioning ARGAS to support mineral exploration initiatives. Under his guidance, the company achieved remarkable revenue growth, driven by strategic execution and operational excellence. With this solid foundation in place, TAQA is now focused on accelerating its next phase—expanding market presence and driving innovation. To lead this new chapter, the Board of Directors has appointed Adel Al-Ghadhban as Interim Chief Executive Officer, effective 1 June 2025. Al-Ghadhban currently serves as Executive Vice President – Ventures & Chief Investment Officer and brings over 30 years of experience in multiple energy sectors including portfolio management and finance across the energy and manufacturing sectors, including 20 years with TAQA. He was responsible for leading the company's group legal, risk, and compliance functions, and guiding strategy for TAQA's portfolio companies. He also serves on the boards of several TAQA subsidiaries, including ARGAS as Vice Chairman, Cougar Drilling Solutions, TAQA Drilling Solutions (Canada), and was in board leadership roles at ALAR and JESCO. Khalid Nouh, Outgoing CEO, said: "It has been an extraordinary journey and a privilege to lead TAQA through a period of remarkable growth and transformation. I am proud of what we've built together—a global platform with strong capabilities and a focus on sustainable, profitable growth. I leave confident in the company's direction and leadership, and excited to see it reach even greater heights." Ahmed Al Zahrani, Chairman of the Board, stated: "On behalf of the Board, I want to thank Khalid Nouh for his exceptional vision and dedication. He played a pivotal role in shaping TAQA into the global leader it is today—delivering on strategy, strengthening our service offering, and transforming the organization into ONE TAQA. As we look to the future, we are confident that Adel Al-Ghadhban will build on this legacy with a sharp focus on performance, innovation, and growth." Adel Al-Ghadhban, Interim CEO, commented: "I am honored to take on this role at such a defining moment in TAQA's evolution. We have a strong foundation, a clear vision, and exceptional teams around the world. I look forward to working closely with our people, partners, and clients to build on our achievements and accelerate our strategic growth." About TAQA Founded in 2003, TAQA is an international company headquartered in Dharan that offers leading well solutions for the energy industry and is creating value and opportunity for all its stakeholders. TAQA has more than 5,500 people in more than 20 countries and serves multiple markets. TAQA offers a complete well solutions portfolio that includes Coiled Tubing and Stimulation, Cementing, Wireline, Frac, Directional Drilling, Downhole Tools, Completions, Well Testing, Slickline, Inspection, and H2S & Safety. SOURCE TAQA
Zawya
3 days ago
- Business
- Zawya
ROSHN breaks ground on first integrated community in Dhahran
ROSHN Group, the leading multi-asset real estate developer in the Kingdom of Saudi Arabia and a PIF company, has broken ground on its first fully integrated residential community - ALDANAH in Dhahran in the kingdom's Eastern Province of Dhahran. Spanning over 1.7 million sq m, the development will deliver more than 2,000 residential units upon completion. Each of the homes features diverse designs and amenities that ensure an easy and seamless transition experience for residents, said the developer. The groundbreaking ceremony was held under the patronage of Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, and in the presence of the Prince Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Province. ALDANAH offers nine floor plans and two distinct façade types, including duplexes and standard villas. Premium villas with five bedrooms are also available and will be conveniently positioned near a beautiful green spine. Located in Dhahran, ALDANAH is positioned near key landmarks such as the King Abdulaziz Center for World Culture, King Fahd University of Petroleum and Minerals, and the region's main business districts. ALDANAH's groundbreaking ceremony was attended by distinguished representatives from the public and private sectors, alongside ROSHN's senior leadership team, who later visited the sales center and toured the show villas, gaining a first-hand look at the diverse typologies that will be available. Speaking on the occasion, ROSHN Group Acting Chief Executive Officer Dr Khalid Johar said: "This is a significant milestone in the group's journey, fulfilling its mandate to provide exceptional, sustainable living experiences in line with Vision 2030 homeownership and quality of life goals." "Today, we are delighted to extend our fully integrated way of living to new customers in the Eastern Region. In ALDANAH, we are creating a vibrant new community deeply connected to Greater Dammam and the region's unique heritage," he noted. The groundbreaking marks a significant milestone in the development of the Eastern Region, paving the way for an integrated residential destination that offers a new way of living tailored to fulfill every aspiration, he added. ALDANAH is holistically designed to offer residents vibrant and healthy lifestyles while fostering the growth of family-friendly communities. Set to feature a wide range of amenities, the community will play a key role in enhancing the quality of life across Greater Dammam. A rich array of amenities, including mosques, community centers, retail and commercial areas, and education facilities, is all within the community, said the developer. Close to 145,000 sqm of the project's total footprint will be dedicated to urban green space, accompanied by naturally shaded and pedestrian-friendly living streets, connecting residents with nature, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
3 days ago
- Business
- Trade Arabia
ROSHN breaks ground on first integrated community in Dhahran
ROSHN Group, the leading multi-asset real estate developer in the Kingdom of Saudi Arabia and a PIF company, has broken ground on its first fully integrated residential community - ALDANAH in Dhahran in the kingdom's Eastern Province of Dhahran. Spanning over 1.7 million sq m, the development will deliver more than 2,000 residential units upon completion. Each of the homes features diverse designs and amenities that ensure an easy and seamless transition experience for residents, said the developer. The groundbreaking ceremony was held under the patronage of Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, and in the presence of the Prince Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Province. ALDANAH offers nine floor plans and two distinct façade types, including duplexes and standard villas. Premium villas with five bedrooms are also available and will be conveniently positioned near a beautiful green spine. Located in Dhahran, ALDANAH is positioned near key landmarks such as the King Abdulaziz Center for World Culture, King Fahd University of Petroleum and Minerals, and the region's main business districts. ALDANAH's groundbreaking ceremony was attended by distinguished representatives from the public and private sectors, alongside ROSHN's senior leadership team, who later visited the sales center and toured the show villas, gaining a first-hand look at the diverse typologies that will be available. Speaking on the occasion, ROSHN Group Acting Chief Executive Officer Dr Khalid Johar said: "This is a significant milestone in the group's journey, fulfilling its mandate to provide exceptional, sustainable living experiences in line with Vision 2030 homeownership and quality of life goals." "Today, we are delighted to extend our fully integrated way of living to new customers in the Eastern Region. In ALDANAH, we are creating a vibrant new community deeply connected to Greater Dammam and the region's unique heritage," he noted. The groundbreaking marks a significant milestone in the development of the Eastern Region, paving the way for an integrated residential destination that offers a new way of living tailored to fulfill every aspiration, he added. ALDANAH is holistically designed to offer residents vibrant and healthy lifestyles while fostering the growth of family-friendly communities. Set to feature a wide range of amenities, the community will play a key role in enhancing the quality of life across Greater Dammam. A rich array of amenities, including mosques, community centers, retail and commercial areas, and education facilities, is all within the community, said the developer. Close to 145,000 sqm of the project's total footprint will be dedicated to urban green space, accompanied by naturally shaded and pedestrian-friendly living streets, connecting residents with nature, it added.-TradeArabia News Service
Zawya
3 days ago
- Business
- Zawya
ROSHN Group breaks ground at ALDANAH, its first integrated community in Dhahran
The groundbreaking marks a significant milestone in the development of the Eastern Region, paving the way for an integrated residential destination that offers a new way of living tailored to fulfill every aspiration ALDANAH stands in a strategic location in Greater Dammam at the confluence of Dammam, Dhahran, and Al Khobar RIYADH: Under the patronage of His Royal Highness Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, and in the presence of the His Royal Highness Prince Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Province, ROSHN Group, the leading multi-asset real estate developer in the Kingdom of Saudi Arabia and a PIF company, has broken ground at ALDANAH, its first fully integrated residential community in Dhahran. ALDANAH's groundbreaking ceremony welcomed distinguished representatives from the public and private sectors, alongside ROSHN's senior leadership team, who visited the sales center and toured the show villas, gaining a first-hand look at the diverse typologies that will be available. Set to feature a wide range of amenities, the community will play a key role in enhancing the quality of life across Greater Dammam. Located in Dhahran, ALDANAH is positioned near key landmarks such as the King Abdulaziz Center for World Culture, King Fahd University of Petroleum and Minerals, and the region's main business districts. Spanning over 1.7 million square meters, the development will deliver more than 2,000 residential units upon completion. The homes feature diverse designs and amenities that ensure an easy and seamless transition experience for residents. ALDANAH offers nine floor plans and two distinct façade types, including duplexes and standard villas. Premium villas with five bedrooms are also available and will be conveniently positioned near a beautiful green spine. ALDANAH is holistically designed to offer residents vibrant and healthy lifestyles while fostering the growth of family-friendly communities. A rich array of amenities, including mosques, community centers, retail and commercial areas, and education facilities, is all within the community. Close to 145,000 sqm of the project's total footprint will be dedicated to urban green space, accompanied by naturally shaded and pedestrian-friendly living streets, connecting residents with nature. Dr Khalid Johar, ROSHN Group Acting Chief Executive Officer, said: 'This is a significant milestone in ROSHN Group's journey, fulfilling its mandate to provide exceptional, sustainable living experiences in line with Vision 2030 homeownership and quality of life goals. Today, we are delighted to extend our fully integrated way of living to new customers in the Eastern Region. In ALDANAH, we are creating a vibrant new community deeply connected to Greater Dammam and the region's unique heritage.'
