KAEC to have 2m people, projects worth $100bn on completion: CEO

[al-Hasani]

 

[al-Hasani]

Saudi Arabia's first private port starts operation

Davos, Switzerland, 8 hours, 17 minutes ago
Emaar Economic City, a big Saudi real estate firm, has started operations at the country's first privately owned port and will more than triple investment in the facility over the next five years, the company's chief executive said.

"Shipping lines are redrawing their logistics maps, where they stop and where they go. It will impact every port around the world," Fahd Al Rasheed said in an interview on the sidelines of the World Economic Forum in Davos.

Emaar Economic City, a consortium headed by Dubai's Emaar Properties and Saudi investors, is focused on building the King Abdullah Economic City, a special economic zone up Saudi Arabia's Red Sea coast from Jeddah.

The zone is projected to be the size of Washington DC when completed, hosting as many as 2 million people and helping to diversify the country's economy beyond oil into light industry and shipping.

The project is important for Saudi economic policy-making because, although it has Saudi government backing, it is being operated by a company with a local stock market listing and a significant private investor base - an effort to involve market discipline in the project and spread wealth generated by it among the broad population.

King Abdullah Economic City's port, which began operating on Jan. 6, has the potential to become a global logistics hub, handling trade for the entire region, Rasheed said.

"Twenty-five percent of global trade goes through the Red Sea but we've never leveraged it in the region."

A total of 2.5 billion riyals ($665 million) has been invested in the port so far and the amount is expected to rise to 9 billion riyals ($2.4 billion) by 2018, Rasheed said. The port's annual capacity, now 1.3 million twenty-foot equivalent units, is expected to rise to 4 million TEUs in two years, 7 million in 2018 and ultimately 20 million.

Meanwhile, an industrial zone attached to King Abdullah Economic City is expected to be completed by 2020. It has so far attracted 70 firms, with factories operational in pharmaceuticals, building materials, car parts, plastics and packaging, Rasheed said. Companies are offered very low rents and soft loans from the government for capital investment.

"We are now at a stage where we are not only inviting big names to locate in King Abdullah Economic City but we also need third-party developers to co-invest with us to develop faster, especially in housing," Rasheed said.

He added that Emaar Economic City had so far raised $4 billion of capital and attracted an additional $10 billion to the project from other investors and from sales.

"Our cash flow right now is very healthy so we don't project any need to raise funds." – Reuters

Saudi Arabia's first private port starts operation

@Arabian Legend @JUBA @Yzd Khalifa @BLACKEAGLE @Awadd @Full Moon @burning_phoneix etc.

 

[al-Hasani]

King Abdullah Port begins export & import operation

​

Last updated: Tuesday, February 04, 2014 8:01 PM

KING ABDULLAH PORT — King Abdullah Port in King Abdullah Economic City announced that it has effectively started import and export operations on Jan. 6, 2014. With the Saudi Coast Guard, Saudi Customs, Saudi Food and Drug Administration with its labs and sampling facilities and other relevant Government Agencies all duly established inside the Port.

King Abdullah Port is a common user port and is open for business to any shipping line that wishes to use it, and welcomes all customs clearance brokers, freight forwarders, and trucking companies to do business in it.

King Abdullah Port is open for business 24 hours, seven days a week for both vessel and gate operations. The port is also offering trucking services to and from Jeddah.

King Abdullah Port is intended to complement the existing system of effective Saudi ports, given the rising levels of demand in the Kingdom and the need for more capacity for export, import and transit services.

Currently, King Abdullah Port is equipped with eight STS cranes to provide the best services that can handle the largest operating vessels. The current quay wall length is 700m and a water depth of 18m, with a capacity to handle approximately of 1,000,000 TEU/ year, rising to 1,400,000 TEU/year by the end of 2014.

Expansion works will continue for the next several years for a planned medium term capacity of 4,000,000 TEU annually. — SG

King Abdullah Port begins export & import operation | Economy | Saudi Gazette

 

[Arabian Legend]

Amazing progress, just as planned.

 

[al-Hasani]

 

[al-Hasani]

​

 

[al-Hasani]

Siemens wins $590m Saudi Arabian power plant order

​

By Andy Sambidge
Friday, 11 April 2014 9:48 AM

Siemens Energy has received an order to supply six gas turbines, three steam turbines and nine generators for a Saudi power plant in a deal worth $590 million.

The order relates to the Rabigh 2 IPP combined-cycle power plant in Saudi Arabia, the company said in a statement.

Korean construction company Samsung C&T is building the facility for Al-Mourjan Project Company, a consortium under the direction of the independent power producer ACWA Power.

Following project completion in mid-2017, Rabigh 2 IPP will have an installed electrical generating capacity of 2,060 megawatt to supply Makkah Province with electric power.

The Siemens contract includes commissioning support services, and a long-term maintenance service agreement, the statement added.

The project site at Rabigh is located in western Saudi Arabia on the Red Sea, about 150km north of the port city of Jeddah.

Rabigh 2 IPP combined-cycle power plant will comprise three power plant units. For each of these units, Siemens is delivering two gas turbines, one steam turbine, and three electrical generators.

"This order is yet another indicator of the large demand in Saudi Arabia for efficient power generation solutions," said Thierry Toupin, CEO of Business Unit Gas Turbines and Generators at Siemens' Energy Sector.

"The Rabigh 2 IPP project expands our already strong market position in this country even further."

Siemens announced in 2012 and 2013 the major orders it won in Saudi Arabia to supply the Qurayyah IPP and Jazan projects with its F-class gas turbines.

Siemens said Saudi Arabia presents "vast market potential" for highly-efficient combined-cycle power plants.

To keep pace with and drive the nation's advancing industrialisation and economic development, the installed electrical generating capacity - about 70 gigawatt (GW) - is expected to double by 2020 to 140 GW.

Siemens wins $590m Saudi power plant order - Energy - ArabianBusiness.com

 

[Yzd Khalifa]

Siemens Arabia has been investing in several projects over the last few years, it is a good move if you ask me. I hope they will invest in Germany as well.

Siemens wins $590m Saudi Arabian power plant order

​

By Andy Sambidge
Friday, 11 April 2014 9:48 AM

Siemens Energy has received an order to supply six gas turbines, three steam turbines and nine generators for a Saudi power plant in a deal worth $590 million.

The order relates to the Rabigh 2 IPP combined-cycle power plant in Saudi Arabia, the company said in a statement.

Korean construction company Samsung C&T is building the facility for Al-Mourjan Project Company, a consortium under the direction of the independent power producer ACWA Power.

Following project completion in mid-2017, Rabigh 2 IPP will have an installed electrical generating capacity of 2,060 megawatt to supply Makkah Province with electric power.

The Siemens contract includes commissioning support services, and a long-term maintenance service agreement, the statement added.

The project site at Rabigh is located in western Saudi Arabia on the Red Sea, about 150km north of the port city of Jeddah.

Rabigh 2 IPP combined-cycle power plant will comprise three power plant units. For each of these units, Siemens is delivering two gas turbines, one steam turbine, and three electrical generators.

"This order is yet another indicator of the large demand in Saudi Arabia for efficient power generation solutions," said Thierry Toupin, CEO of Business Unit Gas Turbines and Generators at Siemens' Energy Sector.

"The Rabigh 2 IPP project expands our already strong market position in this country even further."

Siemens announced in 2012 and 2013 the major orders it won in Saudi Arabia to supply the Qurayyah IPP and Jazan projects with its F-class gas turbines.

Siemens said Saudi Arabia presents "vast market potential" for highly-efficient combined-cycle power plants.

To keep pace with and drive the nation's advancing industrialisation and economic development, the installed electrical generating capacity - about 70 gigawatt (GW) - is expected to double by 2020 to 140 GW.

Siemens wins $590m Saudi power plant order - Energy - ArabianBusiness.com

 

[al-Hasani]

Siemens Arabia has been investing in several projects over the last few years, it is a good move if you ask me. I hope they will invest in Germany as well.

KAEC is going to be huge. Really huge. Siemens is a reliable partner and the right choice but I am more worried about what they do in KSA than Germany although I have no doubt about them being in good hands.

When I will be back this summer I will definitely pay a visit to KAEC.

I can't wait to see where we are going to be in 5-7 years time where most of all those huge projects are finished and investments.

 

[Yzd Khalifa]

Siemens Arabia is mostly owned by KSA, no worries about that.

We could do business with the Germans, but we won't be buying their weapons.

KAEC is going to be huge. Really huge. Siemens is a reliable partner and the right choice but I am more worried about what they do in KSA than Germany although I have no doubt about them being in good hands.

When I will be back this summer I will definitely pay a visit to KAEC.

I can't wait to see where we are going to be in 5-7 years time where most of all those huge projects are finished and investments.

 

[Yzd Khalifa]

Yes I know but the German Siemens still has significant shares in Siemens Arabia, don't they? If my memory serves me right.

Yes, they are not reliable partners on that front. Nothing like the Americans, Brits or French. We should ditch them altogether on this front.

We never sought after procuring their weapons. Whenever the word is spread out - that KSA is establishing a new program for this or that - they approach us with letters from their MoD, and the Chancellor.

Merkel considers herself a friend of KSA though

 

[Yzd Khalifa]

Indeed. In this way this is no different whenever we here the name of Russia.

The name of Russia by whom? = \

 

[al-Hasani]

The name of Russia by whom? = \

When KSA is mentioned as a potential buyer of Russian weapons by dubious sources.

Anyway deleted my posts since they are a bit off-topic.

Would appreciate if you could follow up after our exchange here. Otherwise I fear that this will turn into a chit-chat thread. You know all the trolls roaming around here.

 

[Yzd Khalifa]

When KSA is mentioned as a potential buyer of Russian weapons by dubious sources.

Oh yeah, LoLz.

 

[Bubblegum Crisis]

Siemens wins $590m Saudi Arabian power plant order

​

By Andy Sambidge
Friday, 11 April 2014 9:48 AM

Siemens Energy has received an order to supply six gas turbines, three steam turbines and nine generators for a Saudi power plant in a deal worth $590 million.

The order relates to the Rabigh 2 IPP combined-cycle power plant in Saudi Arabia, the company said in a statement.

Korean construction company Samsung C&T is building the facility for Al-Mourjan Project Company, a consortium under the direction of the independent power producer ACWA Power.

Following project completion in mid-2017, Rabigh 2 IPP will have an installed electrical generating capacity of 2,060 megawatt to supply Makkah Province with electric power.

The Siemens contract includes commissioning support services, and a long-term maintenance service agreement, the statement added.

The project site at Rabigh is located in western Saudi Arabia on the Red Sea, about 150km north of the port city of Jeddah.

Rabigh 2 IPP combined-cycle power plant will comprise three power plant units. For each of these units, Siemens is delivering two gas turbines, one steam turbine, and three electrical generators.

"This order is yet another indicator of the large demand in Saudi Arabia for efficient power generation solutions," said Thierry Toupin, CEO of Business Unit Gas Turbines and Generators at Siemens' Energy Sector.

"The Rabigh 2 IPP project expands our already strong market position in this country even further."

Siemens announced in 2012 and 2013 the major orders it won in Saudi Arabia to supply the Qurayyah IPP and Jazan projects with its F-class gas turbines.

Siemens said Saudi Arabia presents "vast market potential" for highly-efficient combined-cycle power plants.

To keep pace with and drive the nation's advancing industrialisation and economic development, the installed electrical generating capacity - about 70 gigawatt (GW) - is expected to double by 2020 to 140 GW.

Siemens wins $590m Saudi power plant order - Energy - ArabianBusiness.com

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