Industry Second industrial city planned for Saudi’s Aseer region Work has started on a second industrial city in the Aseer region of Saudi Arabia after the first attracted investments of more than SR2 billion ($533 million). The development is being implemented by the Saudi Authority for Industrial Cities and Technology Zones (Modon) and the Aseer Region Development Authority. The Second Aseer Industrial City covers […] January 3, 2024
Manufacturing Turkey’s manufacturing sector weakens for sixth month Turkey’s manufacturing sector deteriorated for a sixth straight month in December although the industry fared slightly better than in November, data published on Tuesday showed. The Istanbul Chamber of Industry’s Turkey PMI Manufacturing Index registered 47.4 in December, up from 47.2 a month earlier. A figure below 50 indicates the sector is contracting, while above […] January 2, 2024
Industry Turkey invites China’s Chery to develop electric vehicles Turkey has invited Chinese carmaker Chery to invest in developing electric vehicles (EV) in the country, according to industry and technology minister Fatih Kacır. “I invited the brand, which produced 250,000 vehicles last month, to invest in our country,” Hurriyet Daily News reported, citing the minister’s post on social messaging platform X. “We will continue […] December 25, 2023
Manufacturing Saudi and Morocco vie for lead in Mena EV race Two clear frontrunners in the global electric vehicle race have emerged in the Middle East and North Africa region. Both Saudi Arabia and Morocco have accelerated efforts to develop their EV capabilities in 2023, with a series of multi-million-dollar investments and partnership deals. The two kingdoms see the EV industry as central to achieving economic […] December 22, 2023
Analysis Industry Saudi seeks gold in the Aseer hills – for tourism and mining Hidden in the heart of Saudi Arabia’s largest mountain range, the Aseer province was largely unknown to the West until the 1950s. The region’s remoteness helped to preserve its distinctive culture, with early visitors offered crowns of red and orange blooms for sale by its so-called Flower Men. Today tourists are an important part of the […] December 21, 2023
Industry Abu Dhabi’s Kezad to house new $204m aluminium facility Kings Aluminium Industries has started construction on a AED750 million ($204 million) aluminium manufacturing and recycling facility in Khalifa Economic Zones Abu Dhabi (Kezad). The facility will be built on 100,000 sq m of land leased from Kezad Group for 50 years, the UAE state-owned Wam news agency reported. The company will source its raw […] December 19, 2023
Manufacturing Stellantis puts Algerian car industry on road to recovery Multinational car maker Stellantis has announced the start of production at its factory in Algeria, with a commitment to expand further to help the ailing local market. Four Fiat models will be built, including the Fiat 500 and Fiat Doblo, as part of an initial €200 million ($216 million) investment in the plant in Tafraoui, […] December 15, 2023
Construction How Saudi tech is addressing the lack of construction sand A patented technology developed in Saudi Arabia is aiming to increase the use of desert sand in concrete manufacturing. ClimateCrete’s technology modifies the surface of the fine local sand particles, making a much more durable and stable concrete. At a time of unprecedented levels of construction in the kingdom, it plans to make concrete production […] December 14, 2023
Manufacturing Abu Dhabi Ports in green steel deal with UK producer Abu Dhabi Ports Group and the UK’s Liberty Steel Group have agreed to work together on importing magnetite ore – used in green iron and steel production – from Australia to the UAE. The memorandum of understanding was signed this week. They will explore plans to create a green iron production facility in the Khalifa […] December 12, 2023
Manufacturing UAE considers a tax on packaging to fund recycling The UAE is considering introducing a tax on packaging, according to an industry expert, as the country continues to ramp up its sustainability agenda. Ali Al Dhaheri, CEO of Abu Dhabi Waste Management Company, or Tadweer, told AGBI that discussions with the UAE government were taking place about bringing in an extended producer responsibility (EPR) […] December 12, 2023
Industry Sabic CEO warns of ‘difficult’ 2024 for chemicals industry The chemicals industry will face another “difficult” year in 2024 as the global economic outlook remains weak, Saudi Basic Industries Corporation (Sabic) CEO Abdulrahman Al-Fageeh was quoted as saying. This was a bad year for the chemical industry, he told the Bloomberg news agency, adding that he was “uncertain on whether 2024 was going to […] December 12, 2023
Construction Zamil wins $153m deal to build Saudi defence complex A Dammam construction company has won a SAR575 million ($153 million) contract to build a defence manufacturing complex in Al Kharj, central Saudi Arabia. Zamil Steel Construction Company agreed the deal with Saudi Arabian Military Industries (Sami), a Public Investment Fund company set up to lead the development of the kingdom’s defence industry. The Al […] December 11, 2023
Industry Renault to invest $431m to make new models in Turkey Renault Group will invest $430.92 million by 2027 to produce four new models in Turkey, including a new low-cost SUV, according to a local media report. The new models will be made in collaboration with the French carmaker’s local partner Oyak at their site in the northwestern Bursa province of Turkey, Daily Sabah newspaper reported. […] December 11, 2023
Tech US robot maker in talks over Abu Dhabi factory Gecko Robotics, a US maker of robots that inspect the infrastructure of buidings, vehicles and other physical assets, is in talks to open a factory in Abu Dhabi. The company has also raised $100 million as part of a Series C funding round. Gecko, which uses AI-powered software and advanced robotics, set up its international […] December 6, 2023
Manufacturing Saudi Cable financial woes laid bare in delayed results Saudi Cable Company has revealed the crisis it is facing after the manufacturer belatedly published its financial results for 2022. The company, which owns manufacturing facilities in Saudi Arabia, Bahrain and Turkey, posted a net loss of SAR585 million ($156 million) for the year, a 200 percent increase compared with 2021. Saudi Cable said in […] December 4, 2023
Industry Chinese firm to build $2bn industrial complex in Egypt Chinese company Befar Group will build a $2 billion industrial green complex in Suez Canal Economic Zone for the production of specialised chemicals, according to a local media report. The project’s initial phase will see investments of $500 million, leading to the creation of 1,000 jobs, Egypt Today newspaper reported. The complex is expected to […] December 4, 2023
Manufacturing Saudi Cable Co seeks more time to deliver rescue plan Saudi Cable Company, which suspended trading in its shares earlier this month, has requested an extension to the deadline for submission of its financial restructuring proposal to the courts, as bosses scramble to finalise a rescue plan. The company, which owns manufacturing facilities in Saudi Arabia, Bahrain and Turkey, said at the start of November […] November 22, 2023
Manufacturing Saudi’s Avalon plans massive export drive The Saudi pharmaceuticals firm Avalon Pharma plans to treble revenue to SAR1.1 billion ($290 million), with a drive to increase exports from 10 percent to 30 percent of output. As Saudi Arabia pushes to produce within its own borders more of the medicines it consumes, Maher Al Ghannam, managing director and CEO of Avalon Pharma, […] November 21, 2023
Industry Investment in Oman economic zones hits $43bn Investment in Oman’s special economic zones and industrial cities reached OMR16.6 billion ($43.38 billion) as of June 2023, according to the Public Authority for Special Economic Zones and Free Zones (Opaz). Existing industrial cities received a total investment of OMR7.3 billion, with Salalah Free Zone leading with OMR4.5 billion as of June 2023, Muscat Daily […] November 20, 2023
Manufacturing Hyundai breaks ground on $1.5bn EV plant in Korea Hyundai Motor Co on Monday broke ground on a 2 trillion won ($1.52 billion) dedicated electric vehicle (EV) plant in South Korea, as the automaker accelerate a shift to electrification. Hyundai Motor, the world’s No. 3 automaker by sales with its affiliate Kia Corp, plans to begin mass production of EVs from the plant in […] November 13, 2023
Industry PIF raises stake in Aston Martin to 20.5% Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Aston Martin to 20.5 percent, according to a regulatory filing on the London Stock Exchange. The fund’s shareholding went up by 2.6 percentage points from 17.9 percent through Lucid Group’s holding, placing PIF ahead of Geely chairman and Chinese entrepreneur Shufu Li on Aston […] November 9, 2023
Health Work starts on Dubai factory for Indian pharma business Construction has started on a $54 million factory in Dubai for Indian herbal pharmaceuticals company Himalaya Wellness, as analysts predict more international investment in the UAE healthcare sector. The factory at Dubai Industrial City, supported by financing from Emirates Development Bank, will produce tablets, capsules, liquids and ointments. The Bangalore-based company, founded in 1930, already […] November 8, 2023
