Latest news with #India-MiddleEast-EuropeEconomicCorridor
Al Etihad
20-07-2025
- Business
- Al Etihad
Saudi Arabia signs agreements for green hydrogen, power exports to Europe
20 July 2025 23:17 RIYADH (WAM)Saudi Arabia's ACWA Power signed on Sunday, in Riyadh, agreements and memoranda of understanding (MoUs) with several international partners, aimed at creating a green hydrogen and renewable energy export value chain between Saudi Arabia and signing of these agreements and MoUs comes as part of the Kingdom's pioneering role in enhancing global logistics connectivity and its leadership in the India-Middle East-Europe Economic Corridor (IMEC) project, driven by its strategic geographical location that connects East and agreements and MoUs were signed during the Renewable Energy and Green Hydrogen Export Workshop, led by ACWA Power under the supervision of the Ministry of Energy. The event brought together high-level government representatives from Saudi Arabia, Greece, France, and Germany, alongside executives from global specialised companies and leading national workshop showcased the Kingdom's progress in diversifying its energy mix and promoting regional and international integration in clean energy—reinforcing its position as a reliable global supplier of energy and a key leader in the economic corridor connecting East and West. Moreover, a joint development agreement was concluded for collaboration on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030.
Saudi Gazette
20-07-2025
- Business
- Saudi Gazette
Saudi Arabia launches green hydrogen export value chain to Europe
Saudi Gazette report RIYADH — Saudi Arabia has launched a strategic value chain to export green hydrogen and renewable energy to Europe, marking a major step in its efforts to become a global clean energy hub. The move was formalized on Sunday as ACWA Power signed a series of agreements and memoranda of understanding (MoUs) with leading international partners during a high-level workshop in Riyadh. Held under the supervision of the Ministry of Energy and attended by Minister of Energy Prince Abdulaziz bin Salman, the Renewable Energy and Green Hydrogen Export Workshop brought together top officials from Saudi Arabia, Greece, France, and Germany, as well as executives from global energy firms and national institutions. The agreements aim to establish a robust framework for developing large-scale renewable energy projects in the Kingdom dedicated to export, and to create transmission corridors linking Saudi Arabia and Europe. The initiative is also part of the Kingdom's leading role in the India-Middle East-Europe Economic Corridor (IMEC), reinforcing its strategic position connecting East and West.A multi-party MoU was signed between ACWA Power and major European firms, including Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Netherlands), and EnBW (Germany), to assess market demand and technical feasibility for electricity MoUs were signed with HVDC cable and transmission specialists such as CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi to support infrastructure development across borders.A Joint Development Agreement was also concluded with Germany's EnBW to collaborate on the Yanbu Green Hydrogen Hub, which is set to begin operations in 2030. The project will be a fully integrated complex with renewable energy generation, desalination, electrolysis, ammonia conversion, and a dedicated export terminal.
NDTV
17-07-2025
- Business
- NDTV
Veteran Indian Diplomat Taranjit Sandhu Joins US-India Forum With Top Role
Ambassador Taranjit Singh Sandhu has been appointed Advisor to the Board of the US-India Strategic Partnership Forum (USISPF) and Chairman of its newly established Geopolitical Institute. The veteran Indian diplomat and former envoy to the United States has a diplomatic career spanning nearly 40 years. "I am delighted to join the US India Strategic Partnership Forum as Chairman of its Geopolitical Institute," Mr Sandhu said. "I have had the opportunity to work on as well as follow the India-US story for over three decades. The relationship has evolved into a Comprehensive Global Strategic Partnership, underpinned by shared values and interests, matured in character and nurtured by the vibrant people-to-people ties between the two countries." He will now guide USISPF's strategic initiatives, particularly focusing on the India-Middle East-Europe Economic Corridor (IMEC), the Quad (India, Japan, Australia, US), and the I2U2 grouping comprising India, Israel, the US, and the UAE. Prime Minister Narendra Modi and US President Donald Trump brought "renewed vigour" to the partnership through the India-US COMPACT, with a focus on defence, energy, trade, and technology, he said. Mr Sandhu's association with USISPF is not new. During his tenure as India's Ambassador to the US from 2020 to 2024, he worked closely with the Forum to deepen bilateral ties. His diplomatic career also includes three stints in Washington, DC, including serving as Deputy Chief of Mission under then-Ambassador S Jaishankar. He played a key role in organising events such as PM Modi's 2014 Madison Square Garden address, Trump's 2020 India visit, and the 2024 state visit of PM Modi to Washington. "New Delhi has always sent its brightest minds to Washington, but few have come more experienced in understanding the contours of US-India relations than Ambassador Sandhu," said Mukesh Aghi, President and CEO of USISPF. "Having worked closely with Ambassador Sandhu during his diplomatic days, I am eager to engage with him in this new avatar, this time with his new USISPF hat." As Chair of the Geopolitical Institute, Mr Sandhu will help shape USISPF's approach to evolving geopolitical dynamics, particularly in the Indo-Pacific. His focus areas will include defence cooperation, vaccine diplomacy, critical and emerging technologies, and energy partnerships. He will also offer strategic insights on regional initiatives like IMEC and I2U2, both of which gained significant momentum during his tenure in Washington.
Hi Dubai
08-07-2025
- Business
- Hi Dubai
Dubai Customs Strengthens Trade Ties with India to Boost Regional Logistics and Economic Corridor
Dubai Customs has deepened its trade cooperation with India following a high-level meeting aimed at accelerating regional logistics and developing the India-Middle East-Europe Economic Corridor (IMEEC). Led by Arti Agarwal Srinivas, Director General at India's Directorate General of Systems and Data Management, the Indian delegation met with Dubai Customs officials, including Director General Dr. Abdulla Busenad, to discuss advancing customs facilitation, digital data exchange, and supply chain efficiency. Representatives from DP World also joined the discussions. The talks focused on strengthening inter-MENA trade, streamlining clearance procedures, and expanding logistics services to boost the flow of goods between the two countries. Dubai highlighted its commitment to becoming a global trade and logistics hub as part of the Dubai Economic Agenda. A key initiative presented was the MAITRI platform, a single digital interface designed to integrate customs and port systems between the UAE and India. The platform aims to cut delays and costs, enhance data sharing, and unlock new logistics opportunities. Both sides reaffirmed their strategic partnership, with India recognizing Dubai's vital role as a trade gateway connecting Asia with the Middle East, Africa, and Europe. News Source: Dubai Media Office
Euronews
03-07-2025
- Business
- Euronews
IMEC: Can the ambitious trade corridor from India to Europe succeed?
The India-Middle East-Europe Economic Corridor (IMEC) is one of the most ambitious modern connectivity initiatives. It aims to create a modern transport and trade corridor linking India to Europe through the Middle East, leveraging ports, rail networks, highways and digital infrastructure. The project aspires to reshape global trade maps, offer alternatives beyond the Suez Canal, and enhance Europe's energy and supply security. For Greece, IMEC represents an opportunity to upgrade its role as a key gateway to Europe. Greek ports, particularly Piraeus and Thessaloniki, have the potential to become key centres for transferring goods and distributing them further into Europe. At the same time, Greece can act as an energy hub, contributing to the diversification of energy sources and supply routes. However, IMEC also faces significant challenges: geopolitical tensions, competition from other trade routes and countries, the need for large infrastructure investment and policy coordination. These challenges were discussed in detail at the event titled 'IMEC from potential to partnership,' held by the Balkans & Black Sea Forum "Executive Roundtable 2025," with the participation of ambassadors from the involved countries, analysts, experts, and industry stakeholders. The main conclusions are: The IMEC Corridor needs clear guidance and funding. The project started as an Indian initiative, which was then embraced by the EU and Saudi Arabia. However, unlike other similar initiatives, India has not set up a specific implementing body for the project, nor has it committed funds. Most speakers agreed that the projects will need to be funded through India-EU partnerships, and that the contribution of Saudi Arabia and the US will be crucial. The US is generally positive about the project but sees it as part of a larger strategic framework related to the implementation of the Abraham Accords. As the speakers pointed out, it is unlikely that India, mainly due to a different mindset, will commit funds and establish a mechanism for the implementation of the IMEC, as China did for the 'Belt and Road' Initiative. The Indian government emphasises that countries themselves must adopt the project and develop national plans for its implementation. The corridor will require coordination in the development and operation of the necessary infrastructure. The project is easier for the ports, but for the railway, there are many challenges. For example, there is a need to secure investment funding, build the necessary railway lines (some of which cross regions with significant geopolitical instability), establish a customs union, and set up a dedicated sales office. As one of the speakers said: "Every corridor is only as strong as its weakest point." For Greece, the big challenge is the port of Piraeus. Greece is trying to emerge as the main gateway of the Corridor to Europe (competing with Italy and France). However, the fact that the port of Piraeus is managed by a Chinese company raises questions about how willing and able it will be to serve as the final point of the IMEC. Alternatively, as some speakers noted, the port of Thessaloniki could play this role. The second major challenge relates to the railway network, which is underdeveloped both within Greece and in its connections with neighbouring countries. As was emphasised, without a strong and interconnected railway network, the potential to fully utilise the IMEC is significantly limited. The military conflicts in the Middle East are 'freezing' plans for the Corridor's development. Although tensions have eased in the past 24 hours, the broader Middle East region remains an area of high tension and conflict, which raises questions as to whether and how the necessary infrastructure will be shielded. As for Cyprus, whose participation in the project was confirmed during the recent visit of Noreda Modi to Nicosia, it was noted that Cyprus could become a regional hub for managing administrative and operational issues, building on its experience in this field and its membership of the EU. And what will be the role of the Palestinians in this project? "The Palestinians should be part of the project," noted the speakers, for example with rail links to Jordan through the West Bank. However, such a prospect requires permanent peace in the region.
