With the creation of a new defence holding company and clauses requiring that local manufacturing and job creation be written into new contracts with international suppliers, the Kingdom’s aerospace, defence and security sector is primed for growth.
With the creation of a new defence holding company and clauses requiring that local manufacturing and job creation be written into new contracts with international suppliers, the Kingdom’s aerospace, defence and security sector is primed for growth.
Economic planners in Saudi Arabia are working to nurture industrial growth by identifying sectors with high potential and developing clusters of companies and expertise within them. The National Industrial Clusters Development Programme (NICDP) has been established under the supervision of the Ministry of Commerce and Investment (MoCI), and the...
Saudi Arabia’s efforts to alter its energy mix should see major investments in renewable sources. At the forefront of recent moves in the sector are solar and wind projects, with Khalid Al Falih, minister of energy, industry and mineral resources, announcing in early 2017 that at least 10 GW would be generated from both energy sources by 2023...
Looking forward to 2032, the King Abdullah City for Atomic and Renewable Energy (KACARE) estimates that 13-14% of Saudi Arabia’s power will be generated by nuclear reactors, and an eventual goal has been set of supplying 17.6 GW of power to the national grid. In addition, the Kingdom hopes that this investment will not only help meet growing...
Saudi Arabia’s metals industry is currently going through significant upheaval. While aluminium production has been growing since the first bauxite was successfully mined from the Kingdom’s Al Ba’itha mine in May 2014, steel production has dropped amid declining prices. Nonetheless, with so many large-scale infrastructure projects ongoing in...
Following a decline in global oil prices for more than a year and a half, in December 2015 the Saudi government announced domestic energy prices would rise overnight. On December 29, 2015 the price of petrol rose from SR0.60 ($0.16) per litre to SR0.90 ($0.24) for Octane 95, while 91-grade rose by more than 65%, from SR0.45 ($0.12) to SR0.75...
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