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10 January 11:39 AM

Sector News

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10 August 2025 06:54 PM GASCO posts 15% decline in H1-25 net profits
Riyadh - Mubasher: National Gas and Industrialization Company (GASCO) delivered a 15.15% drop in net profit to SAR 115.90 million during the first half (H1) of 2025, compared to SAR 136.60 million in H1-24. Revenues reached SAR 1.57 billion in the …
Financial Results
Photo Archive
7 April 2025 10:14 AM ACWA Power begins commercial operation at wind power plant in Uzbekistan
Riyadh – Mubasher:  ACWA Power Company has commenced commercial operations at the 500-MW Bash wind power plant in Uzbekistan, according to a bourse disclosure. ACWA Power, which holds a 65% stake in the project, expects that the financial impact …
Companies Investments
Photo Archive
1 April 2025 09:51 PM Global firm EXP announces partnership with oil-focused Al Suwaiket
Riyadh – Mubasher: EXP, a global engineering, architecture, design and consulting firm has teamed with Al Suwaiket Group, a leader in supplying products and services to the oil and gas industry, for projects in Saudi Arabia. The EXP Al Suwaiket …
Sector Reports
JINGDONG Logistics
1 April 2025 03:40 PM JINGDONG Logistics expands operations in MENA
Mubasher: JINGDONG Logistics, also known as JD Logistics, has expanded its presence in the Middle East with five warehouses and beyond in parts of North Africa, according to a press release. The Chinese supply chain management company established …
Companies Investments
Social Development Bank
31 March 2025 07:25 PM Social Development Bank announces SAR 1.7bn total financing in Q1-25
Riyadh – Mubasher: The Social Development Bank (SDB) registered total financing of more than SAR 1.70 billion during the first quarter (Q1) of 2025, benefiting more than 20,000 citizens and enterprises. Meanwhile, the total financing for …
Banking and Finance
Mitsubishi Power
31 March 2025 06:37 PM Mitsubishi Power to supply gas turbines for projects in Saudi Arabia
Riyadh – Mubasher: Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries (MHI), recently received two major supply orders for the Rumah-1 and Al-Nairyah-1 Independent Power Plant (IPP) projects in Saudi Arabia, according to a …
Companies Investments
Photo Archive
27 March 2025 10:34 AM Miahona awarded SAR 1bn project award from MODON
Riyadh – Mubasher: Miahona Company was awarded a project contract from the Saudi Authority for Industrial Cities and Technology Zones (MODON) to enhance operational efficiency of the industrial wastewater treatment plant in Jeddah 1st Industrial …
Companies Investments
Saudi Electricity Company
5 March 2025 01:55 PM SEC achieves SAR 6.8bn net profit in 2024; board proposes 7% dividends
Riyadh – Mubasher: Saudi Electricity Company (SEC) registered net profits worth SAR 6.86 billion in 2024, according to the financial results. The amount marked a 33% decrease from SAR 10.24 billion in 2023 that resulted from the recognition of …
Board of Directors
Photo Archive
3 March 2025 00:49 PM Marafiq’s revenues jump to SAR 6.8bn in 2024
Riyadh – Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) logged net profits amounting to SAR 17.15 million in 2024, down 97.08 % from SAR 587 million in 2023. Marafiq generated 7.83% year-on-year (YoY) higher revenues at …
Financial Results
Photo Archive
2 March 2025 03:54 PM GASCO sees higher profits in 2024; revenues cross SAR 2.8bn
Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) logged net profits valued at SAR 248.70 million in 2024, an annual rise of 9.41% from SAR 227.30 million. Revenues grew 16.73% year-on-year (YoY) to SAR 2.86 billion at the end …
Financial Results
Photo Archive
25 February 2025 09:18 AM ACWA Power sees higher profits in 2024; total investments hit $97.2bn
Riyadh – Mubasher: The net profits of ACWA Power Company increased by 5.74% year-on-year (YoY) to SAR 1.75 billion at the end of 2024 from SAR 1.66 billion in 2023. The Saudi group posted revenues valued at SAR 6.29 billion in 2024, an annual rise …
Financial Results
Photo Archive
23 February 2025 04:03 PM More details unveiled about Egypt’s largest wind farm by ACWA Power
Riyadh – Mubasher: ACWA Power will be carrying out the largest wind farm in Egypt with a significant investment of approximately $2.30 billion, according to a press release. The new project is surpassing the company's existing 1.1 GW Suez Wind …
Global Economy
Photo Archive
19 February 2025 08:05 PM ACWA Power acquires $693m assets in Kuwait, Bahrain
Riyadh – Mubasher: ACWA Power inked a share purchase agreement (SPA) with the regional subsidiary of French utility developer ENGIE to acquire assets valued at $693 million in Kuwait and Bahrain, according to a press release. This acquisition …
Mergers and Acquisitions
Photo Archive
18 February 2025 06:36 PM ACWA Power rolls out SAR 8.6bn deal for energy project in Egypt
Riyadh – Mubasher: ACWA Power inked a power purchase agreement (PPA) valued at SAR 8.60 billion for a wind energy project in Egypt, according to a bourse statement. The Saudi company will develop, build, own, and operate a wind power generation …
Companies Investments
Photo Archive
5 February 2025 09:31 PM ACWA Power pens SAR 2.5bn agreement with SWPC
Riyadh – Mubasher: ACWA Power Company inked a water purchase agreement (WPA) with the Saudi Water Partnership Company (SWPC) at a value of SAR 2.50 billion, according to a bourse filing. The 25-year deal covers the development, construction, …
Companies Investments
Photo Archive
3 February 2025 06:27 PM Alkhorayef Water hikes financing from Alinma Bank to SAR 630m
Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company increased its Sharia-compliant financing with Alinma Bank to SAR 630 million from SAR 250 million, according to a bourse filing. The security provided for the financing under the …
Companies Investments
Photo Gallery
2 February 2025 08:26 PM SEC boosts capital structure after settling SAR 5.6bn obligations
Riyadh – Mubasher: The Saudi Electricity Company (SEC)is set to complete the necessary procedures to settle its SAR 5.68 billion obligations to the government, according to a bourse disclosure. The ministerial committee for the Restructuring of …
Banking and Finance
Photo Archive
2 February 2025 04:39 PM ACWA Power cooperates with Italian gov’t-owned SACE to endorse renewables
Riyadh – Mubasher: ACWA Power Company has signed two strategic documents with SACE, the Italian insurance and financial group fully owned by the Italian Ministry of Economy and Finance, to cooperate on new business opportunities focused on …
Companies Investments
Photo Gallery
28 January 2025 01:52 PM ACWA Power, Snam to establish green hydrogen supply chain in Europe
Riyadh – Mubasher: ACWA Power has signed a memorandum of understanding (MoU) with Snam, a leading European operator in natural gas transportation, to establish a supply chain of green hydrogen to Europe. The two parties will explore collaboration …
Companies Investments
Photo Archive
16 January 2025 02:27 PM OPEC Fund commits $30m for Africa’s largest wind power project
Cairo - Mubasher: The OPEC Fund for International Development unveiled $30 million investments to co-finance Africa’s largest onshore wind power project, according to a press release. The financing includes the development of two 550 megawatts …
Companies Investments
Photo Archive
14 January 2025 11:17 PM ACWA Power makes debut into China's renewables market
Riyadh – Mubasher: ACWA Power has announced its formal entry into China's renewable energy market with investment agreements for over 1-gigawatt (GW) of projects across multiple provinces. This milestone marks a key step in ACWA Power's China …
Companies Investments
Photo Archive
8 January 2025 08:50 PM ACWA Power unveils update on Middle East’s largest single-contracted wind farm in Egypt
Riyadh – Mubasher: Private water desalination company ACWA Power together with consortium partner HAU Energy, a subsidiary of Hassan Allam Utilities, have achieved the financial close for the 1.1-gigawatt GW Suez Wind Farm in Egypt. The renewables …
Global Economy
Photo Archive
8 January 2025 11:56 AM ACWA Power appoints Chairman, Vice Chairman
Riyadh – Mubasher: ACWA Power Company named Mohammad Abdullah Abunayyan as the board’s Chairman for the next four years. The board members also announced Raad Esmat Al Saad as the Vice Chairman, according to a bourse filing. The two officials …
Management Decisions
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7 January 2025 03:30 PM PIF’s Diriyah teams with SEC to foster power infrastructure
Riyadh – Mubasher: Diriyah Company, a unit of the Saudi Public Investment Fund (PIF), has opened two major electricity substations, operated by the Saudi Electricity Company (SEC). They are expected to accelerate the growth and development of …
Companies Investments
Photo Archive
31 December 2024 04:39 PM ACWA Power signs SAR 2.6bn financing documents for Egypt’s renewables plant
Riyadh – Mubasher: ACWA Power Company has penned the financing documents for Egypt’s Wind Power Plant in Suez on 30 December 2024 for a duration of 20 years, according to a bourse filing. The Saudi listed company is securing SAR 2.63 billion …
Banking and Finance