Latest news with #ShareekProgram
Zawya
18-03-2025
- Business
- Zawya
SAL joins the Private Sector Partnership Program (Shareek) and announces a SAR 4bln investment
Riyadh, Saudi Arabia – SAL Logistics Services has officially joined the Shareek Program through a strategic investment of SAR 4 billion to develop the SAL Logistics Zone in Falcon City, north of Riyadh. The announcement was made in the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services, H.E. Eng. Khalid bin Abdulaziz Al-Falih, Minister of Investment, and H.E. Abdulaziz bin Abdulrahman Al-Arifi, CEO of the Shareek Program, along with senior officials and executives. This investment aligns with the Ministry of Investment's efforts to accelerate the growth of the logistics sector by attracting both local and international investors and fostering high-impact partnerships in this vital industry. These initiatives will enhance supply chain efficiency, improve the regulatory and operational environment, and solidify Saudi Arabia's position as a global logistics hub. The SAL Logistics Zone, spanning over 1.5 million square meters in Malham, north of Riyadh, will feature a fully integrated infrastructure, including state-of-the-art Class A warehouses, advanced operational facilities, multimodal connectivity, and smart logistics technologies. These enhancements will optimize operational efficiency and accelerate cargo flow both locally and regionally. Mr. Omar bin Talal Hariri, CEO of SAL Logistics Services, emphasized that this investment marks a strategic step in strengthening the company's capabilities and contributing to the National Transport and Logistics Strategy. He stated: 'Joining the Shareek Program reflects our ongoing commitment to investing in innovative logistics solutions, upgrading infrastructure, and enhancing supply chain efficiency in the Kingdom. The SAL Logistics Zone is not just another development project—it is a model for the future of integrated logistics services. By leveraging technology and sustainability, we aim to create an advanced operational environment that attracts investment and drives Saudi Arabia's economic growth.' H.E. Abdulaziz Al-Arifi, CEO of the Shareek Program, highlighted the importance of this partnership, emphasizing that the investment in the SAL Logistics Zone reinforces Saudi Arabia's leadership in the logistics and transportation sector while supporting major companies in achieving sustainable economic growth. He added: 'The Shareek Program is dedicated to empowering major companies to invest in strategic, high-impact projects that contribute to Saudi Vision 2030. SAL's integration into the program reflects the company's pivotal role in advancing Saudi Arabia's transformation into a global logistics hub. We look forward to witnessing the positive impact of this investment on the sector and strengthening the Kingdom's position in international trade while driving economic diversification.' This strategic partnership directly supports Saudi Vision 2030 by enhancing logistics connectivity, attracting local and international investments, and establishing a modern infrastructure that strengthens Saudi Arabia's role in regional and global trade.
Zawya
27-02-2025
- Business
- Zawya
Stc Group and Ooredoo partner to transform regional digital landscape
Set to be completed by 2026, the SONIC Project will support hyperscalers and telecom operators in Saudi Arabia and Oman with seamless and agile digital infrastructure. Riyadh, Saudi Arabia: In a strategic step to enhance the region's digital infrastructure and connectivity network, stc Group, a leading digital enabler, and Ooredoo Oman, a regional telecommunications provider, have announced the signing of a Head of Terms agreement to establish the international terrestrial fiber optic network corridor between Saudi Arabia and Oman. The SONIC project seeks to establish an international terrestrial fiber optic network corridor between Saudi Arabia and Oman. Both stc Group and Ooredoo are committed to enhancing the region's digital ecosystem, creating an integrated terrestrial fiber network with two redundant paths that connects submarine cable landing stations and data centers across Saudi Arabia and Oman. stc Group and Ooredoo Oman aim to leverage the unique geographic positioning of both countries to enhance connectivity and elevate the digital infrastructure, through a highly reliable and agile network. The first phase of the SONIC project, expected to be completed within 12 months, with the whole project within 24 months – aims to support ongoing subsea projects and elevate international subsea routes between Asia and Europe. Meanwhile ,both operators are committed to providing transitional solutions during the implementation phases of the project . the SONIC project is set to complement those subsea projects under construction that enhance the international subsea routes between Asia and Europe. This partnership will create growth opportunities across the region, offering hyperscalers and telecom operators seamless and scalable digital infrastructure. Both stc Group and Ooredoo are demonstrating their commitment to driving digital transformation and supporting economic growth in both Saudi Arabia and Oman. Mohammed Alabbadi, Group Chief Carrier & Wholesale Officer at stc Group, explained: ' In cooperation with Shareek Program ,this partnership with Ooredoo Oman reaffirms our commitment within stc Group as a digital enabler to harnessing all capabilities and expanding digital infrastructure in the MENA region. The SONIC project will be one of the key components in meeting the growing demand for regional and international connectivity through secure, high-capacity, and efficient networks.' Bassam Yousef Al Ibrahim, CEO of Ooredoo Oman, reflecting on the broader impact of the SONIC project stated: 'The SONIC project highlights Ooredoo's leadership in shaping the future of telecommunications in Oman and the region. By connecting Ooredoo Oman's infrastructure with stc Group, we are enabling seamless international data flow, attracting investment, and fostering innovation. This collaboration realizes a shared vision for progress and supports Oman Vision 2040 by driving economic growth and positioning the Sultanate as a key hub in the global digital ecosystem.' About stc Group stc Group is a digital and telco leader, offering advanced solutions and driving a role in the digitalization process. The group provides a comprehensive suite of services encompassing digital infrastructure, cloud computing, cybersecurity, Internet of Things (IoT), digital payments, digital media, and digital entertainment. The group comprises 13 subsidiaries across the Kingdom of Saudi Arabia, the Middle East, North Africa, and Europe. To know more about stc group: Click here About Ooredoo Oman Omani Qatari Telecommunications Company SAOG ('Ooredoo') was founded and registered in the Sultanate of Oman in December 2004. Services were launched in March 2005, originally operating under the name Nawras. Ooredoo is an integrated operator providing Mobile, Fixed, Internet, and ICT solution at Retail and Wholesale segments within Oman through a broad range of service via its advanced digital infrastructure. Ooredoo Oman is part of Ooredoo Group operation across the Middle East, North Africa and Southeast Asia.
Zawya
18-02-2025
- Business
- Zawya
Ma'aden's $7.4bln Phosphate 3 project construction work launched
Saudi Arabia - Construction works on Ma'aden's Phosphate 3 project, with investments estimated at SAR28 billion ($7.47 billion), was launched on Monday in Wa'ad Al Shamal Mining City by Northern Borders Region Governor Prince Faisal bin Khalid bin Sultan bin Abdulaziz. He also launched several development and investment projects at a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, Vice Minister for Mining Affairs Eng Khalid Al-Mudaifer, and several public and private sector officials, said a Saudi Press Agency (SPA) report. Supported by the Shareek Program, Ma'aden's Phosphate 3 project is one of the region's largest mining ventures and aims to increase Saudi Arabia's phosphate production capacity to 9 million tons annually, including 3 million tons each from the Phosphate 1 and 2 projects. This expansion will contribute to developing the industrial supply chain, creating more investment and employment opportunities. The governor emphasised that these projects reflect the Saudi Vision 2030 goals of developing the mining sector and enhancing its contribution to the national economy. He stressed that Wa'ad Al Shamal has become a model for integrated industrial cities, combining major industries, logistics services, and modern residential communities, which enhances the region's appeal to both local and international investors. The ceremony also included the inauguration of several industrial, logistical, and service projects led by the Saudi Authority for Industrial Cities and Technology Zones (Modon), with investments exceeding SAR550 million. The projects involve developing industrial infrastructure across 4.3 million sq m, constructing 32 ready-built units consisting of 20 factories and 12 support units totaling 45,000 sq m, establishing a 132kV power substation with a 200MVA capacity and overhead transmission lines, and building a 7-km international road link bridge. These initiatives will improve logistics services, enhance energy reliability, and create an attractive investment environment, particularly for transformative industries linked to phosphate production. Furthermore, Prince Faisal inaugurated the expansion of Ma'aden's residential complex in Wa'ad Al Shamal in the presence of Alkhorayef. The expansion includes three new buildings, each containing 32 residential units, totaling 96 units. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
