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Firms achieve financial close for $4b projects in S.Arabia

Gulf Today

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August 25, 2025

ACWA Power, and Saudi Electricity Company (SEC) in collaboration with Korea Electric Power Corporation (KEPCO), have announced the Financial Close for Rumah I and Nairyah I IPP projects, with a total investment value of approximately SAR 15 billion ($4 billion).

Saudi Power Procurement Company (PRINCIPAL BUYER) is the Principal Buyer for the projects, responsible for project tendering and purchase of power. Ownership of the two project companies, Remal Energy Company and Naseem Energy Company, is shared between ACWA Power (35%), Saudi Electricity Company (35%), and Korea Electric Power Corporation (30%).

With a combined capacity of 3,600 MW, these projects directly contribute to the Ministry of Energy's optimal energy mix plan, aiming to reliably secure power supply and maximize local content contribution in line with Saudi Vision 2030. Furthermore, these projects support the Kingdom's aim for net-zero emissions by 2060 and ACWA Power's own target of net zero by 2050. The inherent design of these plants allows for the future integration of carbon capture facilities, further solidifying the commitment to ensuring flexibility and innovation in the Kingdom’s energy sector.

MEER VERHALEN VAN Gulf Today

Gulf Today

Forest rope in former Everton coach Dyche to replace Postecoglou

Known for his pragmatic approach and defensive organisation, Dyche will be tasked with steadying the ship at Forest, who have struggled since the September sacking of Nuno Espirito Santo

time to read

2 mins

October 22, 2025

Gulf Today

Gulf Today

Robosweepers deployed on Abu Dhabi Corniche

ABU DHABI: The Integrated Transport Centre (ITC), an affiliate of the Department of Municipalities and Transport (DMT), has launched a fleet of Robosweeper autonomous cleaning vehicles on the Abu Dhabi Corniche.

time to read

1 mins

October 22, 2025

Gulf Today

British Summer Time ending soon: what you should know

Sunday, October 26, will mark the end of summer and the start of winter in the UK. The colder season brings darker days and a change to the UK's time zone, meaning everyone gets an extra hour of sleep when the clocks change.

time to read

3 mins

October 22, 2025

Gulf Today

Food flows into Gaza still far below targets, says WFP

The UN World Food Programme (WFP) said on Tuesday that supplies into Gaza were ramping up after the US-brokered ceasefire but were still far short of its daily target of 2,000 tonnes because only two crossings are open, and none to the famine-hit north of the enclave.

time to read

2 mins

October 22, 2025

Gulf Today

Gulf Today

UAE establishes itself as global hub for investment & entrepreneurship

Dr. Shafeeqa Al Ameri, President of Emirates Association for Women Entrepreneurs, affirmed that the United Arab Emirates has firmly established itself as a global hub for investment and entrepreneurship, noting that foreign direct investment (FDI) inflows into the country exceeded $45 billion in 2024, ranking the UAE 10th globally in attracting investment.

time to read

3 mins

October 22, 2025

Gulf Today

Gulf Today

Zakher Intersection in Al Ain region opened

The Home Infrastructure Department of Municipalities and Transport opened Zakher intersection in Al Ain Region, improving travel time and safety The Department of Municipalities and Transport (DMT) has announced the official opening of the upgraded Zakher Intersection in Al Ain Region, marking a milestone in its ongoing infrastructure improvement programme.

time to read

1 min

October 22, 2025

Gulf Today

Selini Capital to boost Dubai's digital-asset ecosystem

DUBAI: Selini Capital, a global digital-asset trading and investment firm, has been awarded a Virtual Asset Service Provider (VASP) licence by the Virtual Asset Regulatory Authority (VARA) in Dubai.

time to read

1 min

October 22, 2025

Gulf Today

Well-being of Emirati families national priority: Ajman Ruler

His Highness Sheikh Humaid Bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, affirmed that since its establishment, the UAE has given the family a central role, considering it the fundamental building block in creating a cohesive and strong society that contributes to the nation's progress and safeguards its achievements.

time to read

2 mins

October 22, 2025

Gulf Today

Multiply Group's EDC finalises investment in Mwasalat

Multiply Group, the Abu Dhabi-based investment holding company that invests in and operates businesses globally, announced that its subsidiary Emirates Driving Company (ADX: DRIVE), has formally closed a transaction to acquire a 22.58 stake in Mwasalat Holdings, with the option to increase its shareholding to 50.68.

time to read

1 min

October 22, 2025

Gulf Today

Warrant issued for Gandapur in liquor, arms recovery case

An Islamabad district and sessions and court on Tuesday issued arrest warrants for former Khyber Pakhtunkhwa (KP) chief minister and Pakistan Tehreek-e-Insaf (PTI) leader Ali Amin Gandapur on a 2016 liquor and weapons recovery case over his continued absence from the proceedings.

time to read

1 min

October 22, 2025

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