Industry

Startups in Saudi Arabia are set to gain from a new financial boost as Saudi Venture Capital Co. (SVC) has pledged $15 million to the Saqr 2 Fund. This fund, valued at $90 million and managed by Vision Ventures, focuses on early-stage investments across the Middle East and North Africa, from pre-seed to pre-series B stages. Nabeel Koshak, CEO of...

Saudi Arabia is set to strengthen its industrial and mining ties with Italy following a visit by the Saudi Minister of Industry and Mineral Resources, Bandar Bin Ibrahim Al Khorayef. Starting on October 14, Al Khorayef will explore potential collaborations in sectors like automotive, food, space, and marine industries, aligning with Saudi Arabia's manufacturing development strategy. The visit will span...

Saudi Arabia's Vision 2030 emphasizes economic diversification, with localisation and innovation as key drivers for industrial growth. The Kingdom's leadership has promoted localisation through strong governance, transforming it into both a short-term success strategy and a tool for long-term development. Emerson's Localisation Journey Emerson began its localisation efforts in Saudi Arabia with a manufacturing facility in Jubail in 2011. Over...

Nabatat Contracting Company (NCC), a leader in Saudi Arabia's landscaping and agriculture sector, plans to invest SAR 350 million ($93 million) in the Kingdom’s manufacturing sector. The company also aims to expand into other Gulf Cooperation Council (GCC) countries. NCC Chairman, Waleed Hamed Al Khaldi, highlighted the shift in foreign companies' perspectives, noting that establishing manufacturing units in Saudi Arabia...

Saudi Arabia and Italy are poised to enhance their industrial and mining collaboration as Saudi Industry and Mineral Resources Minister, Bandar bin Ibrahim Alkhorayef, visits Italy. Beginning on October 14, Alkhorayef's visit aims to explore joint opportunities in key sectors such as automotive, food, space, and marine industries. This aligns with Saudi Arabia's national strategy for manufacturing development. The trip,...

WellPal, an e-commerce platform specializing in health products, has moved its operations from Egypt to Saudi Arabia after securing investment from an angel investor. Established in 2019 by Mohamed Ali and Mohamed Tantawy, WellPal is part of the Flat6Labs portfolio and offers a variety of fitness and wellness products through its app. Strategic Move to Saudi Arabia The relocation to...

Eastern Province Cement Company, listed on the Saudi stock exchange, has obtained an 850-million Saudi riyal ($226.35 million) Shariah-compliant credit facility from Saudi National Bank. This funding will primarily finance a new production line and support the company's working capital. The planned production line, valued at SAR 1.01 billion ($269 million), will have a capacity of 10,000 tonnes per day....

A new $186 million concrete plant is set to be established as part of the ambitious Neom development in Saudi Arabia's Tabuk Province. This facility will be developed and operated by the Saudi building materials company, Asas Al-Mohileb. The plant aims to produce over 20,000 cubic meters of ready-mix concrete daily. Notably, it will incorporate carbon capture and utilization technology,...

Wardwizard Innovations & Mobility Limited has received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud. This agreement aims to establish a Joint Venture in the Kingdom of Saudi Arabia (KSA). As a prominent manufacturer of electric vehicles, known for brands like 'Joy e-bike' and 'Joy e-rik', Wardwizard sold 1,195...

Saudi Arabia is set to host the Multilateral Industrial Policy Forum (MIPF), an important event linked with the United Nations Industrial Development Organisation (UNIDO). Scheduled for October 23-24, the forum will convene in Riyadh. The MIPF will gather a diverse group of international leaders, including ministers, experts in industrial transformation, investors, and researchers. Their focus will be on innovative industrial...