AlUla’s battery-powered tramway, a pivotal step in green transportation

The vehicles used in this project differ from their traditional counterparts by operating on rechargeable batteries instead of overhead electrical lines which allows for reducing the need for extensive infrastructure. Supplied
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Updated 12 February 2024
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AlUla’s battery-powered tramway, a pivotal step in green transportation

  • Alstom KSA MD: Innovative technology will be used to integrate tramway into the cultural fabric of AlUla
  • Spanning 22.4 km with 17 stations, the network is the world’s longest battery-powered, catenary-free tramway line

RIYADH: AlUla’s battery-powered tramway is a testament to Saudi Arabia’s journey toward a sustainable, innovative transportation system, insists a top official from the company behind its design.

Speaking to Arab News, Mohammed Khalil, managing director of Alstom KSA, said the project — which spans 22.4 km with 17 stations — marks the world’s longest battery-powered, catenary-free tramway line.

He added that this demonstrates a key focus on carbon emission reduction and green transportation.

“As part of Saudi Vision 2030, (the tramway) supports the nation’s commitment to environmental stewardship,” said Khalil, adding: “This innovative transportation system plays a key role in reducing carbon emissions and advancing green technology.

“Battery-powered trams that rely on electricity sourced from renewable energy, lead to a decrease in greenhouse gas emissions, reducing reliance on fossil fuels.”




The investment in local maintenance expertise has allowed Alstom to build a strong foundation within the region. (Supplied)

The vehicles used in this project differ from their traditional counterparts by operating on rechargeable batteries instead of overhead electrical lines.

This allows for reducing the need for extensive infrastructure, allowing the system to remain environmentally conscious while simultaneously leading to a quieter, more aesthetically pleasing urban environment.

In AlUla, a destination that is home to some UNESCO World Heritage sites and whose identity hinges on culture and heritage reservation, this feature becomes especially valuable.

Alstom, a global leader in smart and sustainable mobility, will employ innovative technology to integrate the tramway into the cultural fabric of AlUla, the MD said.

The technology, known as Citadis B, allows the vehicle and its charging system to offer fast, ground-based charging, thus making it both efficient and less visually intrusive.

He added that the project does not only contribute to environmental sustainability, it also contributes to the economic and cultural sustainability of AlUla.

“Boosting tourism and stimulating local businesses, it aligns with Saudi Arabia’s goal of diversifying its economy beyond oil,” said Khalil.

The tramway is designed to respect the region’s rich cultural heritage, ensuring a development that preserves historical significance, Khalil affirmed, further noting that this balance of economic growth and environmental responsibility demonstrates the key sustainability values that are central to Saudi’s Vision 2030.




Mohamed Khalil

In order to integrate these values into their execution, blending cultural and historic elements into the project’s design and functionality, the company will utilize the traditional aesthetics of the historic Hejaz railway.

This transport network was a narrow-gauge railway that ran from Damascus to Medina, through the Hejaz region of modern-day Saudi Arabia, with a branch line to Haifa on the Mediterranean Sea.

Thus, by implementing elements of its design into the modern tram, the design will serve as a bridge between AlUla’s rich past and its dynamic future.

The executive outlined that this will be further achieved through a design that mirrors the local architectural style, ensuring the trams complement the historical districts they connect, with each tram being “especially adapted to reflect the unique character and needs of the region.”

He added: “This includes external designs that blend with the local surroundings and interior adaptations that enhance the passenger experience while offering a glimpse into the region’s heritage.”

Furthermore, Khalil said that features like the open belvedere, a low-floor design for easy boarding, climate-sensitive air conditioning, and dynamic onboard journey information systems are all tailored to provide an immersive travel experience.

The custom trams will be manufactured across Alstom’s production sites in France, including La Rochelle for both design and construction.

The company, which has been a player in Saudi Arabia’s transportation sector for over 70 years, has supported the Haramain high-speed rail line between Makkah and Medina.

It also provided the automated people-mover system to Jeddah’s King Abdulaziz International Airport, which has been in passenger service since 2020, for which the maintenance has been carried out by Alstom since 2022.

According to the director, the company takes “great pride” in its ongoing local presence within the Kingdom, adding that its vision is fundamentally aligned with supporting the Middle East in its “ambitions to become a prominent business hub, achieved by reshaping mobility and introducing sustainable transport solutions of tomorrow.”

HIGHLIGHT

The tramway is designed to respect the region’s rich cultural heritage, ensuring a development that preserves historical significance, Khalil affirmed, further noting that this balance of economic growth and environmental responsibility.

As part of the ongoing transport solutions, Khalil cited the recent demonstration of the hydrogen-powered Coradia iLint train in Riyadh, adding that it marks a significant milestone in green transportation initiatives not only in Saudi Arabia but also in the Middle East and Africa.

“This initiative, part of the MoU signed between Alstom and SAR (Saudi Arabia Railways) at InnoTrans in September 2022, showcases the first introduction of a hydrogen-powered train in the region,” he said.

The Coradia iLint, notable for being the world's first passenger train powered by hydrogen fuel cells, underwent a trial run in November 2023, covering 34 kilometers on Riyadh's East Network.

The train was deemed “revolutionary” in its eco-friendly approach by the director, due to its ability to produce electrical energy for propulsion without any direct carbon dioxide emissions.

Khalil said that the demonstration extends beyond the “technological marvel” of the train itself, as it aligns with Saudi Arabia’s comprehensive sustainability goals and Vision 2030 objectives.

“As a country committed to the Saudi Green Initiative, this move reinforces its dedication to an environmentally sustainable future,” Khalil affirmed

As countries in the region continue to strive towards ambitious net-zero targets, the company is steadfast in providing sustainable mobility across the middle.

Their investment in local maintenance expertise has allowed Alstom to build a strong foundation within the region, according to Khalil, an effort that he noted they are confident “will contribute to the success of future projects such as the AlUla tramway.”

Under the AlUla tramway project, Alstom’s Services teams will leverage itinerant workshops to provide the local maintenance team with temporary access to special tools and equipment required for overhauls.

Furthermore, the company will make use of the local capabilities that they have built thus far. Brake overhaul specialists from Alstom’s Pinto site in Spain will organize training sessions for the team in AlUla, sharing their expertise and developing local capabilities.


How a Saudi start-up hopes to beat sickle cell disease with an AI-trained gene-editing biorobot

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How a Saudi start-up hopes to beat sickle cell disease with an AI-trained gene-editing biorobot

  • Sickle cell disease is a genetic blood disorder in which red blood cells are crescent shaped and rigid
  • Riyadh-based NanoPalm is combining AI-trained models and nanotechnology to remove faulty genes

RIYADH: Saudi-based biotechnology company NanoPalm is developing a biorobot using a unique blend of artificial intelligence, nanotechnology, and gene therapy to find a solution for patients with sickle cell disease.

Affecting approximately 20 million people worldwide, sickle cell disease is a genetic blood disorder in which red blood cells are crescent shaped and rigid. Patients with sickle cell experience blocked blood vessels, pain, fatigue, and anemia, impacting their well-being.

Founded in 2022, and headquartered in Riyadh, NanoPalm began life at the King Abdulaziz City for Science and Technology (KACST) before it was incubated by the NextEra initiative.

The biotechnology company is run by the Ministry of Communication and Information Technology in partnership with The Garage — once a car park, now a 28,000-square-meter space that can accommodate 300 startups.

Ali Al-Hasan and Samar Al-Sudir, the founders of NanoPalm, have used their expertise to develop a product that goes beyond treating the symptoms of sickle cell. Their aim is to remove the gene from a patient’s body altogether.

With Al-Hasan’s knowledge of nanomedicine and Al-Sudir’s background in chemistry, the pair were able to bring their combined expertise to bear.

The NanoPalm team spent more than a year collecting data to feed into artificial intelligence models, Al-Hasan told Arab News.

“We explored AI and we found it was a long journey where we needed to create our own data and generate the data that will be used to train AI models,” he said.

“It will predict the best gene therapy and predict its safety, its effectiveness, and cut down the duration of the therapy, while making it affordable.

“Discovery is at the heart of any drug development process in any pharma company. Now it has become digitized and AI enabled.”

In the development of their product, NanoPalm uses three technologies: AI to model and predict, nanotechnology to create the medicine, and gene therapy to edit genetic material.

“We use the manufacturing recipe from the AI and then go to the lab to build a lipid biorobot,” said Al-Hasan.

“It’s like a vehicle. And those lipid biorobots encapsulate genetic materials such as mRNA and other RNA molecules, which act like scissors to remove the gene that we want to remove.

“When patients come to the clinic, they usually get an IV infusion of biorobots encapsulating genetic materials for four hours and then go home. The biorobots will then navigate their body and find where the disease is. They go after cells responsible for sickle cell.”

NanoPalm has set out to revolutionize the biotech industry. Al-Hasan said the company’s mission is to make treatment more cost-effective.

“As we dove into this problem, we found two important facts,” he said. “Sickle cell disease is not the only genetic disease. There are 6,000 other genetic diseases that have no known cures.

“The second problem is that the current gene therapies are ineffective. They are super expensive. The patients would have to be rich to afford gene therapies, for example, because sickle cell patients would have to pay $2.2 million to get one injection.”

NanoPalm is collaborating with KACST, King Saud University, and the National Guard Hospital to treat 15 sickle cell patients from Saudi Arabia.

Al-Hasan says some 42,000 Saudis stand to benefit from NanoPalm’s product when it is launched in 2030.


China’s exports and imports return to growth

Updated 09 May 2024
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China’s exports and imports return to growth

  • Shipments from the country grew 1.5 percent last month by value: data

RIYADH: China’s exports and imports returned to growth in April after contracting in the previous month, signaling an encouraging improvement in demand at home and overseas.

The data suggests a flurry of policy support measures over the past several months may be helping to stabilize fragile investor and consumer confidence.

Shipments from China grew 1.5 percent year on year last month by value, customs data showed on Thursday, in line with the increase forecast in a Reuters poll of economists. They fell 7.5 percent in March, which marked the first contraction since November.

Imports for April increased 8.4 percent, beating an expected 4.8 percent rise and reversing a 1.9 percent fall in March.

“Export values returned to growth from contraction last month, but this was mainly due to a lower base for comparison,” said Huang Zichun, China economist at Capital Economics.

“After accounting for changes in export prices and for seasonality, we estimate that export volumes remained broadly unchanged from March,” she added.

In Q1, both imports and exports rose 1.5 percent year on year, buoyed by better-than-expected trade data over the January-February period. But the weak March figures prompted concerns that momentum could be faltering again.

Crude oil imports

China’s crude oil imports rose on the previous year in April, as refiners prepared for a fully recovered Labor Day holiday travel season, official data showed on Thursday.

Crude imports in April totaled 44.72 million tonnes, or about 10.88 million barrels per day, according to data from the General Administration of Customs.

That represented a 5.45 percent increase from the relatively low 10.4 million bpd imported in April 2023.

China saw more than 1.3 billion passenger trips over the five day Labor Day holiday that began on May 1, up 2.1 percent from a year earlier, state media outlet Xinhua reported.

Highway traffic was up 2.1 percent while air trips surged 8.1 percent, Xinhua said.

Domestic airline seat capacity in April was up 1.3 percent on last year, data from consultancy OAG showed.

China’s manufacturing sector continued to see muted recovery in April.

Natural gas imports for April rose 14.7 percent from a year earlier to 10.30 million tonnes, data showed.

Prices of liquefied natural gas for Asia at the end of April were down 11.3 percent on the same period last year, and down 43 percent from last year’s peak in October.

Customs data also showed exports of refined oil products, which include diesel, gasoline, aviation fuel and marine fuel, were up 21.46 percent from a year earlier at 4.55 million tonnes.

Coal imports

China’s coal imports rose in April fueled by lower domestic production and greater buying by power generators to swell stockpiles ahead of the peak summer demand season.

Shipments of coal into the world’s largest consumer of the fuel were 45.25 million tonnes last month, up 11 percent from 40.68 million a year earlier.

That was up by 9.4 percent from March and 2 million tonnes less than December’s record of 47.3 million tonnes.

The boost in imports is partly because domestic coal production has not increased to meet demand, said Feng Dongbin, an analyst with consulting firm Fenwei.

China’s coal output fell 4 percent on the year during the first quarter, the most recent data shows, in part because of a string of deadly accidents that forced mines in the top coal-producing province of Shanxi to halt operations for safety inspections.


Saudi bourse among top 10 in the world in terms of market cap, says official

Updated 09 May 2024
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Saudi bourse among top 10 in the world in terms of market cap, says official

RIYADH: Saudi Tadawul Group finds itself in a “fortunate” position amid the Kingdom’s rapidly growing industries, said a senior executive.   

On the sidelines of the Capital Market Forum 2024 held in Hong Kong, Nayef Al-Athel, group chief of sales and marketing officer at Tadawul Group, highlighted the company’s aim to attract global investors by sharing compelling success stories at international forums.  

Speaking to Arab News, Al-Athel explained the dual nature of the group’s goals, emphasizing commercial targets focused on maximizing revenues as a listed company.   

He said: “I think we are very fortunate as a capital markets group, fortunate in the sense that a lot is going on in the Kingdom. There’s unbelievable momentum in various facets of this country, and we are fortunate to be at the juncture of spillover from all these industries and all these new sectors being unraveled and unveiled in Saudi Arabia.”   

Al-Athel added: “The story of the Kingdom of Saudi Arabia is very attractive, and that attraction then translates to us being very attractive as a capital market.”  

Additionally, he emphasized Saudi Arabia’s geographic and time zone position, acting as a bridge between the East and West.   

“If you take that from a geographical standpoint, time zone perspective, that can be straightforwardly translated into capital markets narratives of connecting East to West,” Al-Athel said.   

He added: “If you look at the conference that we’re in here at CMF Hong Kong, it’s literally an attempt, which we think is very successful of us, connecting East to West.” 

Commenting on his statement from the previous CMF in February held in Riyadh, Al-Athel explained how Tadawul Group is at the forefront of global capital market leaders. 

“We are a top 10 stock exchange when it comes to market cap, to continue to propel ourselves high incomes to market cap rankings. That, of course, means more IPOs and more capital market transactions, more interest from investors all over the world,” he said.

Al-Athel further explained that the group’s success is building itself as an equity capital market powerhouse in Saudi Arabia, particularly through a significant number of IPOs in recent years. There’s a focus on expanding into debt capital markets and derivatives to diversify their offerings.  

“We’ve worked hard on building ourselves as an equity capital market powerhouse. The number of IPOs has been staggering over the last three to four years in the Kingdom,” Al-Athel stated. 

However, he mentioned that there are currently no specific announcements to make. 

“We’re living in a very exciting situation as we speak, hosting 300 investors from 44 companies at the Capital Market Forum in Hong Kong,” said Al-Athel, adding that it’s the first cross-border capital market event, with participation from entities in Saudi such as the CMA and the Ministry of Investment. 

He continued: “This is the flavor of where we are at the moment. This is where we are focused. Again, for sure there will be activity in the foreseeable future.” 

Furthermore, Al-Athel mentioned that the group has celebrated 400 securities listed on Tadawul.  

“Among those 400 listed securities, we find many success stories, and those success stories do sell themselves internationally. We have more than 22 companies traveling with us to Hong Kong, and the sole purpose of those companies, the Saudi corporates, is to tell their success stories to investors from Asia. 

Al-Athel concluded his statement by highlighting the significant transformation undergone by the capital market, particularly with the achievement of 400 listed securities and a diverse investor base spanning Saudi Arabia, the region, and globally. 

He noted that the rise in institutional investment and increasing numbers of IPOs signal a healthy market environment. 


Al Rajhi Bank launches $1bn in perpetual bonds, says document 

Updated 09 May 2024
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Al Rajhi Bank launches $1bn in perpetual bonds, says document 

RIYADH: Al Rajhi Bank, the world’s largest Islamic bank by assets and market capitalization, has launched $1 billion in Additional Tier 1 sustainable sukuk, or Islamic bonds, a document from one of the banks arranging the deal revealed on Thursday. 

The final yield for the debt transaction was set at 6.375 percent, tighter than the initial guidance of around 6.875 percent released in a document earlier in the day. The notes are perpetual in nature and can first be redeemed in May 2029. 

The deal received more than $3.5 billion in orders and allocation is expected to happen later in the day, the document showed. 

AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature, but lenders can call them after a specified period.


Closing Bell: Saudi main index slips to close at 12,284 

Updated 09 May 2024
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Closing Bell: Saudi main index slips to close at 12,284 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Thursday, losing 175.70 points, or 1.41 percent, to close at 12,284.41.    

The total trading turnover of the benchmark index was SR7.31 billion ($1.94 billion) as 41 of the stocks advanced, while 184 retreated.  

On the other hand, the Kingdom’s parallel market Nomu rose 199.85 points, or 0.74 percent, to close at 27,086.44. This came as 20 of the stocks advanced, while as many as 45 retreated. 

Meanwhile, the MSCI Tadawul Index slipped 19.92 points, or 1.28 percent, to close at 1,537.54. 

The best-performing stock of the day was Al-Babtain Power and Telecommunication Co. The company’s share price surged 7.77 percent to SR45.75. 

Other top performers include Retal Urban Development Co. as well as Tanmiah Food Co. 

The worst performer was Gulf Union Alahlia Cooperative Insurance Co. whose share price dropped by 10 percent to SR22.68. 

Other worst performers were Allied Cooperative Insurance Group as well as Al-Etihad Cooperative Insurance Co. 

On the announcements front, Jamjoom Pharmaceuticals Factory Co. has announced its interim financial results for the period ending on March 31. 

According to a Tadawul statement, the company’s net profit hit SR102.9 million in the first quarter of 2024, reflecting a 22 percent surge when compared to the similar quarter last year. 

The increase was mainly driven by an increase in sales, which were slightly offset by the devaluation impact from the Egyptian pound. 

Moreover, the National Gas and Industrialization Co. also announced its interim financial results for the first three months of 2024. 

A bourse filing revealed that the firm’s net profit reached SR78.6 million by the period ending on March 31, up 7.6 percent in comparison to the corresponding period in 2023. 

The increase in net profits is primarily attributed to a surge in gross profit by SR9 million due to increased revenues, alongside a rise in investment and finance income by SR2 million. Additionally, there was an increase in other income by SR1 million, coupled with a decrease in zakat expense by SR2 million. 

Furthermore, Modern Mills for Food Products Co. also announced its interim financial results for the first quarter of the year. 

According to a Tadawul statement, the company’s net profits climbed 1.3 percent to reach SR64.9 billion in the first three months of 2024 compared to the same period a year earlier. 

This rise is mainly owed to revenue growth as well as improving efficiency. 

Additionally, Saudi Industrial Investment Group also announced its interim financial results for the period ending on March 31. 

A bourse filing revealed that the firm’s net profit stood at SR28 million at the end of the first quarter of 2024, compared to a net loss of SR242 million recorded in the same quarter a year ago. 

The increase in net profit is attributed to SIIG’s higher share of profit from joint ventures, coupled with a reduction in zakat expenses.