Saudi Arabia strategic Projects: news, discussions & updates

[The SC]

The first transformer in the electrical interconnection project between Egypt and Saudi Arabia was installed in Badr City, which is a major step forward in building the historic project ️.

Details in points:

The 500 kilovolt facility, when completed, will be the first of its kind in the Middle East in terms of size, manufacturing technology, operation, and use on interconnectors with electrical networks.

The project, which is expected to be operated in two phases, will create new opportunities for Egypt and Saudi Arabia, with the first phase scheduled to begin in July 2025. The project is expected to be fully operational by early 2026 and is estimated to cost $1.8 billion.

The maximum capacity of the project is expected to reach 3,000 megawatts, enabling Egypt to export electricity to Asia and Europe and expand connectivity with neighboring countries. It will also play an important role in addressing the ongoing electricity crisis in Egypt.

https://twitter.com/x/status/1822573759829626987

 

[The SC]

After a year full of challenges, positive developments are being witnessed by the Lucid electric car company, which is one of the strategic companies in which the Public Investment Fund #PIF owns a 60% stake

The most important details of the report in points:

The company recorded two consecutive strong quarters with an increase in deliveries.

With Q2 Lucid achieved a record high with 2,394 vehicles delivered, exceeding analyst expectations.

This 70.5% increase in deliveries compared to the second quarter of last year helped generate revenue of $200.6 million, exceeding analyst estimates.

The company’s management also confirmed its goal to reach 9,000 deliveries during the full year.

Management has also done its part to improve its spending, lowering its 2024 capital spending forecast by $200 million from the previous year's forecast of $1.5 billion.

The Saudi Public Investment Fund (PIF) recently contributed an amount of up to $1.5 billion to support the production of “Graffiti” in the United States and the company’s factory in Saudi Arabia.

The recent cash infusion gives the company the ability to finance until the fourth quarter of 2025

The commercial “Gravity” production line for the SUV category will start in 2026 with a high increase in deliveries.

https://twitter.com/x/status/1822317813970710867

 

[The SC]

In South Korean-Saudi cooperation for the cities of the Kingdom, Naver began working on the digital twins project for smart cities.

Project and partnership details:

Five-year partnership with the Saudi government to develop digital twin platforms for Riyadh and four other major cities

“Naver” will use its advanced cloud technologies and artificial intelligence solutions to create very accurate 3D models of Saudi cities, with an accuracy level of up to 10 centimeters.

These digital twins will act as virtual copies of cities, allowing real-time data analysis and detailed simulations to improve multiple aspects of city management, including infrastructure planning and disaster preparedness.

Project goal: Demonstrating practical applications of digital twin technology, with a focus on urban water management, autonomous mobility and providing accurate traffic information

The project is an essential part of Saudi Arabia’s strategy to enhance the structure of smart cities and improve city management through advanced technology

https://twitter.com/x/status/1822286869175877800

 

[The SC]

A boom in Saudi-Chinese relations and trade exchange that witnesses a growth in Saudi non-oil exports
.

The most important points of the report on the development of Saudi-Chinese relations during the year, in points:

China was the third largest destination for Saudi non-oil products in May, and is the first destination for total Saudi exports, as shipments amounted to 15.91 billion Saudi riyals.

China is the largest foreign direct investor in Saudi Arabia in 2023, with investments worth $16.8 billion.

In the tourism sector, China has deepened its relationship with the Kingdom with the implementation of the Approved Travel Destination (ADS) agreement that aims to attract 5 million Chinese tourists by 2030.

In July, new exchange-traded funds focused on Saudi stocks were listed on the Shanghai and Shenzhen stock exchanges.

Riyadh Airlines signed an agreement with “China Eastern Airlines” to enhance future communication and cooperation in digital transformation.

The Saudi Public Investment Fund also signed
#PIF — Six agreements with Chinese financial institutions worth $50 billion to boost capital flows

SABIC signed an investment agreement with the Chinese government of Fujian to develop a thermoplastic factory in August

https://twitter.com/x/status/1822241555421294922

 

[The SC]

What are the details behind the Space Halo space capsule , where will it be launched from in the Kingdom, and what are the project’s tourism goals ?

Here are the most important details:

An unmanned flight test will be conducted in the second half of September from a site in Al-Aflaj, south of Riyadh.

The capsule, known as Aurora, will rise to a distance of 30 km from the Earth’s surface on the company’s sixth test flight, in coordination with the Saudi Communications, Space and Technology Authority @CST_KSA
.

If all goes well, the first manned test flight will take place in 2025, and commercial flights will begin in 2026.

The company plans to schedule 400 commercial flights annually and carry 3,000 passengers by 2029, with a starting price of $100,000 per person for a 6-hour flight.

Saudi Arabia will be a permanent base for the company and will play a role in manufacturing spacecraft for Halo, which was developed as an incubation project by the Middle East branch of management consulting firm Arthur D. Little.

https://twitter.com/x/status/1821954786733769199

 

[The SC]

South Korean efforts to achieve a free trade agreement with the Gulf states by the end of September this year.

Details and their importance:

South Korea currently imposes a 3% tariff on imported crude oil, which is eliminated or reduced for quantities received from suppliers that have free trade agreements with the country

Minister An recently met with the Minister of Commerce
Saudi Majid bin Abdullah Al-Qasabi on July 30 in Seoul to discuss the rapid entry into force of the agreement

The South Korean government aims to complete the legal and administrative procedures required to fully implement the FTA by September

This is a deal that may allow local refineries to obtain bitter crude oil from the Middle East at cheaper prices and improve their profit margins. It will also increase the growth of trade exchange between the Arab Gulf states and South Korea.

https://twitter.com/x/status/1821577241291018356

 

[The SC]

Artificial_Intelligence and ways to integrate it into various fields occupy companies and countries.. #Saudi Arabia realized the importance of the sector early, but there are still challenges facing the Kingdom to reap the economic fruits of artificial intelligence..

https://twitter.com/x/status/1823333939915694442

 

[The SC]

In conclusion, at the end of Elon Musk’s meeting with Trump

Trump set Saudi Arabia as a standard for the “power of the oil economy” in the world when he gave the example of one of the oil fields in Alaska, USA, more than 4 times.

 

[The SC]

A success #Made_in_Saudi Arabia with support and empowerment identified by Johnson Company @JC_arabia With an export strategic map, it proudly transported its quality products to more than 26 countries around the world.

https://twitter.com/x/status/1823352824199082320

 

[The SC]

On the first day of the Fourth Industrial Revolution Applications Hackathon, the pioneers of change set out to achieve the future of development!

#Development_by_Technology

https://twitter.com/x/status/1821608142242775169

 

[The SC]

SABIC has made a tremendous leap in its investments related to supporting and developing the automotive industry sector in the world

It continues its success in forming strong alliances with the largest and most luxurious car producers in the world..The most recent is with Volkswagen, Jaguar, Land Rover, Jeep and other companies!

In cooperation with its partners, #SABIC succeeded in developing a metal-plastic part for the Jeep Renegade, and reduced 45% of the weight of this part compared to the previous part made entirely of iron. To learn more: https://goo.gl/SSeMoX

https://twitter.com/x/status/1027262519092633601

 

[The SC]

SABIC's products in the automobile industry have succeeded in developing and restructuring the automobile industry
At a time when manufacturers began to rely on innovative plastics and dispense with metals in car manufacturing
To appear lighter to save fuel and reduce harmful emissions

Learn about the role of the #SABIC team in helping develop the dashboard holder for the 2017 BMW Mini Countryman, which won the Innovation Award after it reduced the weight of the dashboard by up to 30%.

https://goo.gl/vAhQv3

https://twitter.com/x/status/1048599599534002177

Global automobile factories were quick to conclude deals with SABIC for innovative engineering plastics products
Meanwhile, Exatec, wholly owned by SABIC, decided to expand the scope of its technologies in the field of industrial applications For the paint technology used in the manufacture of cars and moving vehicles of all types

https://www.sabic.com/en/news/21611-sabic-launches-new-xenoy-htx-high-heat-resin-family

This is in implementation of its strategic plans aimed at supporting designers of mobile structures In the field of transportation with new innovative capabilities.

 

[The SC]

Assisting in the development of the new Land Rover Defender
-
Automakers continue to search for lighter materials without compromising on high strength and performance
For fuel economy and environmental benefits.. one such manufacturer is Land Rover
Which worked with SABIC to develop its new model of the iconic Defender



This iconic car is now integrated
SABIC's thermoplastic solutions are available in more than 70 applications.

 

[The SC]

The Korean company Hyundai has unveiled a futuristic car
Plasma is made entirely of SABIC products

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Under the concept of (glazing)
While providing protection from abrasion and scratching






https://www.sabic.com/en/industries...-across-the-entire-vehicle/automotive-glazing

 

[The SC]

Providing lightweight solutions for BMW vehicles
-
The German company BMW won the Innovation Award and came in second place in the Society of Plastics Engineers Awards

In Central Europe Automotive introduced a hybrid car developed jointly with SABIC
Manufactured with fiberglass reinforced materials provides high rigidity
It is resistant to shocks while reducing weight.

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https://www.sabic.com/en/reports/annual-2019/performance/technology-and-innovation