Latest news with #Saudi-Egypt
The Irish Sun
28-05-2025
- Business
- The Irish Sun
Incredible continent-spanning ‘Moses bridge' linking Africa and Asia across Red Sea is ‘ready to be built'
A MINDBLOWING multibillion-dollar bridge connecting two continents across the Red Sea dubbed the "Moses bridge" is set to be built. The extraordinary bridge will link Saudi Arabia and Egypt across the sea that Moses is said to have parted over 3,200 years ago. 4 Saudi Arabia will finance a bridge megaproject aimed at bringing NEOM closer to Egypt Credit: Rise 4 Aerial of a bridge linking to the Farasan islands, Kingdom of Saudi Arabia Credit: Getty 4 Egyptian city of Sharm El Sheikh, which will connect to Ras Hamid once the bridge is built Credit: Getty 4 Ambitious plans for the incredible bridge were announced nearly a decade ago in 2016 by Saudi Arabia 's King Salman. The mind-boggling Egyptian transport minister Kamel al-Wazir has now confirmed that the planning stage has now been completed. He said: "We have now completed the planning for the bridge between Egypt and read more world news The minister added that the current solution for connecting the two countries was the Arab Bridge Maritime Co., which currently holds 13 vessels and transports cargo between the nations. The new build will make trading cargo much more efficient - and will compliment Saudi Arabia's The jaw-dropping bridge will connect Egypt's Sinai Peninsula with the Arab Kingdom, crossing the Straits of Tiran. Ras Hamid in Saudi Arabia will be linked to the Red Sea resort of Sharm el-Sheik in Egypt. Most read in The US Sun Egyptian president Abdel Fattah el-Sisi previously suggested naming the structure "King Salman bin Abdulaziz Bridge" in 2016. But it has been dubbed the "Moses Bridge" for its iconic location. Saudis unveil more plans for 'landscraper' but only 1% will be ready by 2030 It is hoped that the project will create thousands of jobs on each side of the sea. The bridge will also provide an alternative pilgrimage route, and is expected to hold over a million travellers per year. The idea for a Red Sea bridge linking the two countries has been proposed several times before but has always failed to become a reality. Floated ideas for the revolutionary structure date back to 1988. A slew of delays for the Saudi-Egypt bridge has also plagued its long-running history. The completed plans come as a separate bridge is also being planned over the Red Sea, spanning 20 miles and being headed by The structure, dubbed the 'Bridge of the Horns', is expected to be a combination of causeway and suspension bridge with four piers. It also comes as Saudi Arabia continues to struggle with its groundbreaking $500billoin megacity project. The One former
Leaders
18-02-2025
- Business
- Leaders
Saudi Refinery Output Surges 5% Annually in Dec. 2024
Saudi Arabia's refinery output reached 2.54 million barrels per day (bpd) in December. This marks a 5% annual increase, according to Joint Organizations Data Initiative (JODI) figures. Fuel oil constituted 18.2% of total refinery output. Annual production rose 7%, reaching 464,000 bpd. Meanwhile, gas diesel—40% of the refinery mix—fell 5% yearly. Motor and aviation fuel surged 5%, representing 24.7% of total output. Refined crude exports dropped 1% to 1.13 million bpd in December. Diesel dominated exports at 36%, while motor/aviation gasoline contributed 20%. Fuel oil comprised 15% of shipments. Domestically, refinery product demand dipped slightly, falling 26,000 bpd annually to 2.29 million bpd. OPEC+ Maintains Cautious Output Strategy OPEC+ nations continue coordinating output cuts to stabilize global markets amid fluctuating prices. In December, the group delayed production hikes until April 2024. This decision extends supply adjustments through 2026, addressing weak demand and non-OPEC+ oversupply. The alliance retains flexibility to adapt output based on market shifts, prioritizing long-term balance and stable prices. Saudi Arabia reduced direct crude oil burn by 24,000 bpd in December. This usage, for power generation, fell 8% annually to 279,000 bpd. Colder weather and energy efficiency gains drove the decline. Energy Minister Prince Abdulaziz bin Salman reiterated Saudi Arabia's commitment to sustainable practices at the Egypt Energy Show. Saudi-Egypt Energy Partnership Strengthens Regional Ties Saudi firms will develop five Egyptian solar/wind projects, totaling 1.696 gigawatts with SR6.2 billion ($1.65 billion) investments. ACWA Power also secured a deal for Egypt's largest wind initiative—a 2GW South Hurghada plant worth SR8.6 billion. The SR6.7 billion Saudi-Egypt Electricity Interconnection Project will enable 3,000 MW exchanges, boosting regional energy integration. These initiatives align with Saudi Arabia's Vision 2030 goals, emphasizing renewable energy and cross-border collaboration. OPEC+ and regional partnerships underscore the Kingdom's dual focus on market stability and sustainable transition, balancing oil sector dynamics with global economic and environmental trends. Short link : Post Views: 7
