Latest news with #Expo2030
Yahoo
16-07-2025
- Business
- Yahoo
Bechtel Selected as Project Management Consultant for the 2030 World Expo in Saudi Arabia
RIYADH, Saudi Arabia, July 16, 2025 /PRNewswire/ -- Bechtel today announced it has been appointed project management consultant (PMC) for the 2030 World Expo in Riyadh, Saudi Arabia. Held every five years in a different host country, the 2030 event, with the theme "Foresight for Tomorrow," will center on the Kingdom's Vision 2030 roadmap toward a vibrant society, thriving economy, and ambitious future. Expo 2030 Riyadh is anticipated to be one of the most significant events of 2030. It will bring together more than 195 countries, 29 international organizations, and other unofficial participants. The organizers expect approximately 42 million event visitors. "The Expo 2030 Riyadh will highlight Saudi Arabia's remarkable transformation since the launch of the Saudi Vision 2030 in 2016, and showcase progress across the Kingdom's economic, social, and cultural sectors," said Darren Mort, president of Bechtel's Infrastructure business. "Bechtel has been a trusted partner in the Kingdom for over eight decades, and we are proud to support this legacy project that will highlight our customer's vision for sustainability, innovation, and connectivity." Working with Expo 2030 Riyadh Company, Bechtel will oversee delivery of the infrastructure program across the six-square-kilometer site, including early works, utilities, roads, and the public realm. Following the six-month event, Bechtel will also support transforming the site into sustainable urban development, continuing to serve as a hub for green innovation, cultural celebration, and commerce. Expo 2030 Riyadh is positioned to serve as a global platform for innovation, collaboration, and dialogue. The event's masterplan reflects the Kingdom of Saudi Arabia's commitment to long-term development, incorporating international sustainability standards across areas such as tree planting and reforestation, water treatment, and renewable energy sources. Learn more about Bechtel's Infrastructure business at About Bechtel Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers' objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place. Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. Media Contact:Isabel Onabaionaba1@ View original content to download multimedia: SOURCE Bechtel Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Leaders
10-07-2025
- Business
- Leaders
Saudi Pavilion at Expo 2025 Showcases Contemporary Artworks
Saudi Arabia's Pavilion at Expo 2025 Osaka is currently displaying contemporary artworks tailored for a Japanese audience to foster cultural exchange between both countries, according to the Saudi Press Agency. The studios have organized more than 115 events, such as exhibitions and live performances since the inauguration of the pavilion on April 13. The pavilion, designed by Foster + Partners, features the Kingdom's unparalleled heritage and cultural aspects. Being the second largest pavilion after Japan, the Saudi pavilion boasts more than 700 events, such as dance shows and live performances. Through interactive events, the pavilion highlights the Kingdom's transformative journey and its technological breakthroughs in line with the Saudi Vision 2030. Million Visitors Crucially, the pavilion has welcomed more than a million visitors since April, according to Arab News. 'We are honored to mark this significant milestone and the Saudi Arabia pavilion's success in reaching one million visitors,' said Ghazi Faisal Binzagr, Saudi Arabia's Ambassador to Japan and Commissioner General of the Saudi Arabia Pavilion. Binzagr also noted that the pavilion reflects Saudi Arabia's dedication to boosting cultural exchange and showcasing its transformative journey. 'As we move towards reaching the next million, the pavilion remains committed to inspiring visitors to learn about Saudi Arabia's achievements, and we look forward to deepening impact and welcoming the world,' he added. Binzagr emphasized that the Kingdom's participation in Expo 2025 Osaka stands as a testament to the strong Saudi-Japanese relations. 'As we journey towards Expo 2030 in Riyadh, we will leave a legacy here in Osaka. Expo 2030 Riyadh will be a testament to Saudi Arabia's transformation as a global destination — and we are eager to welcome the world to Saudi Arabia,' he added. Prestigious Award Apart from this, the New York Architectural Design Awards awarded the Gold Prize to Saudi Arabia's pavilion at Japan's Expo Osaka 2025 in the Cultural Architecture – Interactive and Experiential Spaces category in May. The award represents a prestigious recognition of the pavilion's architectural excellence and its futuristic design that depicts the true essence of Saudi culture. Related Topics: Saudi Pavilion Secures New York Architectural Design Awards at Expo Osaka 2025 Culture Minister Inaugurates Saudi Pavilion at Expo 2025 Osaka Saudi Envoy to Japan Shares Vision for Expo 2025 Osaka Pavilion Short link : Post Views: 7
Argaam
09-07-2025
- Business
- Argaam
Overview of key Saudi economic events in H1 2025
Saudi Arabia witnessed several major economic events during the first half of 2025. The most notable was the Crown Prince's launch of the Saudi Architecture Characters Map and new measures to balance the real estate sector in Riyadh city. Additionally, the Public Investment Fund (PIF) launched Al Waha, a company specialized in duty-free retail, and another company to build and operate the facilities of Expo 2030 Riyadh. It also established its first commercial paper program. Moreover, the Ministry of Industry and Mineral Resources rolled out incentives for the industrial sector, with SAR 10 billion allocated for their activation. Meanwhile, the Ministry of Investment announced that 600 global companies opened headquarters in Saudi Arabia. Expo 2030 Riyadh's registration dossier received final approval during the Bureau International Des Expositions (BIE) general assembly in Paris, marking the final step in confirming Saudi Arabia as the official host country for the upcoming Expo. The US Federal Reserve kept interest rates unchanged between 4.25-4.50% for the fourth consecutive time since the beginning of the year.
Campaign ME
08-07-2025
- Business
- Campaign ME
Brands and tourism in KSA: From vision to investment
The completion of Saudi Arabia's Fiscal Sustainability Programme in early 2025 marks more than the achievement of a financial target – it signals a critical shift in the Kingdom's readiness to partner with private-sector brands in shaping its next era of tourism, culture and placemaking. What began in 2016 as the Fiscal Balance Programme has helped position Saudi Arabia for long-term economic resilience and growth. For brands, this is a rare window: the public sector has laid the groundwork, and now the private sector is being invited to help define the experience layer through culture, entertainment, retail and technology. A new era for brand-led tourism With Expo 2030 Riyadh and the FIFA World Cup 2034 ahead, Saudi Arabia is strategically developing tourism infrastructure that emphasises commercial sustainability. But this isn't limited to Riyadh or Jeddah. Other cities such as Abha, Hail and Al Ahsa are becoming dynamic zones for culture, retail and immersive brand experiences. It's a diversification strategy that brings with it untapped potential, especially for brands looking to grow with the market rather than follow it. Tourism in the Kingdom is structured around three core pillars: domestic travel, religious pilgrimage and international tourism. For each of these audiences, the infrastructure and intent to create deeply engaging experiences exists, and brands are increasingly seen as partners in delivering them. What's different now? Opportunities for brands Saudi Arabia's enhanced fiscal position is accelerating the delivery of some of the region's most iconic tourism and cultural developments. Destinations such as Diriyah Gate, The Red Sea Project and the King Salman Park aren't just government initiatives, they are canvases for brand expression. These places need the kind of experiences only brands can deliver, from hospitality and retail to live activations and immersive storytelling. But what matters most is how brands show up. The new Saudi tourism landscape demands authenticity. It's not enough to be present; experiences must align with local culture, values and aesthetics. The strongest brand activations will be those that listen closely, collaborate meaningfully and reflect regional identity while offering world-class engagement. ''It's not enough to be present; experiences must align with local culture, values and aesthetics.' Sustainability is also front and centre. From eco-tourism in coastal zones to adventure offerings in mountainous regions, there's growing space for purpose-driven partnerships. Brands that align with this national focus – not just in message, but also in action – stand to gain long-term equity with visitors and Saudi residents. Meanwhile, the rapid development of a local tourism workforce creates fresh opportunities for brands to embed themselves more deeply. Hospitality academies, cultural ambassador programmes and entrepreneurial initiatives are producing a new generation of storytellers, guides and innovators. Co-creating with this talent not only builds relevance; it builds trust. And finally, technology is reshaping every touchpoint. Smart tourism systems, immersive heritage experiences and seamless digital infrastructure are making Saudi Arabia a future-ready tourism market. For digitally fluent brands, the possibilities are endless, from personalised engagement to scalable flagship activations. Why it matters now By 2030, Saudi Arabia aims to welcome more than 100 million visitors annually and to rank among the top global tourism destinations. That scale isn't just a national ambition but a global platform for brand visibility, relevance and growth. The first movers will have an edge. Early investment, whether in hospitality, retail, entertainment or content creation, will position brands as foundational to Saudi Arabia's tourism identity. The government is actively inviting public-private collaboration across these sectors, making this a moment of strategic alignment. Helping shape the future of tourism in Saudi Arabia At Imagination, we work at the intersection of government vision and brand creativity. We've helped shape tourism strategies and placemaking initiatives across the Kingdom – from Riyadh to Jeddah, and from AlUla to Hail. Our work goes beyond execution, helping brands navigate the nuances, legal frameworks, cultural codes, multi-layered approvals and deliver experiences that resonate deeply and perform commercially. Whether it's activating stories at Diriyah, designing digital experiences for tourism visas, or supporting cultural initiatives in the south, we understand that success here depends on insight, agility and respect. Saudi Arabia isn't just building infrastructure; it's building meaning, identity and invitation. For brands ready to think beyond traditional sponsorships or campaigns, this is a historic opportunity to co-create something enduring. To stand out in the next phase of global tourism, brands must not only be seen, they also must be felt. In Saudi Arabia, the moment to make that impact is now. By Sara Faisal, Senior Strategist, Imagination Saudi.
Canada News.Net
07-07-2025
- Business
- Canada News.Net
Aramco mulls gas plant divestment as state seeks more payouts
DUBAI, U.A.E.: Saudi Aramco is exploring asset sales as part of a broader push to unlock capital, with gas-fired power plants among the assets that could fetch billions of dollars, sources told Reuters. The state-backed oil company is considering selling four to five gas-fired plants that supply energy to its refineries, a move that could generate around US$4 billion, according to two sources familiar with the matter. The plan reflects increasing pressure on Aramco to boost profitability and maintain payouts to the Saudi government amid lower oil revenues. Saudi Aramco, the world's most profitable company and the kingdom's economic backbone, has been reviewing its portfolio in recent months to streamline operations and reduce costs, as previously reported. The company is also set to cut its dividend payouts by nearly a third this year, hit by declining oil prices. These payouts — which include royalties and taxes — are vital to the government, which directly owns 81.5 percent of Aramco. The power plant divestments are part of a broader fundraising effort. According to two of the sources, in addition to the energy assets, Aramco could also sell housing compounds, pipelines, and potentially port infrastructure. A third confirmed that the ports may be included. Aramco declined to comment on the prospective asset sales or on how much money the company expects to raise. The Saudi government's communications office did not respond to Reuters' requests for comment. A timeline for the sales was not confirmed, and all three sources requested anonymity due to the private nature of the process. One of the sources noted that local Saudi utility firms could emerge as potential buyers. According to Aramco's 2024 financial report, the company owns or co-owns 18 power plants and related infrastructure across Saudi Arabia that support operations at gas plants and refineries. Additional facilities, such as the Tanajib Gas Plant, are expected to begin operations later this year. These possible sales come as Crown Prince Mohammed bin Salman continues to pursue large-scale domestic initiatives to shift Saudi Arabia's economy away from its heavy oil dependency. The economic diversification push includes investments in high-profile events like Expo 2030 and the FIFA World Cup 2034, alongside infrastructure mega-projects. Still, oil remains central to state finances. Last year, 62 percent of government revenues came from oil, and despite Aramco's $199 billion contribution, the 2024 Saudi budget shows a deficit of over $30 billion. To support the country's fiscal needs, Aramco has also turned to debt markets. In May, it raised $5 billion via bond sales and hinted at further borrowing to finance infrastructure and meet capital demands. Aramco is seeking external investors to help fund infrastructure projects as it navigates shifting global energy dynamics and internal economic pressures.
