Siemens will supply five F-class gas turbines to the Fadhili Combined Heat and Power (CHP) plant in Saudi Arabia. With a generating capacity of 1,200-megawatts, the plant will supply electricity and process steam to a new natural gas extraction plant in Fadhili, which is located around 120-km northwest of Dammam. The turbines will be produced at the Siemens Dammam Energy Hub (SDEH), the Middle East’s largest gas turbine manufacturing facility. In May 2016, the SDEH launched its first gas turbine that was built by young Saudi nationals.
The project is led by Doosan Heavy Industries and Construction, the Engineering, Procurement and Construction (EPC) partner with whom Siemens inked the supply agreement. Furthermore, Siemens and Kahrabel FZE, an affiliate of the ENGIE Group, signed a 16-year long-term service contract for the gas turbines. The Fadhili CHP plant is jointly owned by Saudi Electricity Company (30 percent), Saudi Aramco Power Holding Company (30 percent) and the developer (40 percent), which is an ENGIE affiliate.
In addition to the turbines, Siemens’ scope of supply includes five generators and a control system, all of which will be commissioned on site. The long-term service agreement covers maintenance services for the turbines, including advanced power diagnostics services, which is part of the company’s “Digital Services for Energy” portfolio. It conducts detailed diagnoses of the condition of an installed fleet and recommends improvements to minimize unplanned outages and secure the maximum availability of critical infrastructure. The new power plant will largely be fired with so-called K-gas, a natural gas which has a relatively low calorific value. Siemens and Saudi Aramco have been jointly testing the suitability of the F-class gas turbine for this special type of fuel.
“This is a great milestone for Saudi Arabia and Siemens. The project leverages even more opportunities to drive the industrialization of the Kingdom in line with Vision 2030,” said Jeffrey Dunlap, Siemens’ senior vice president for power generation sales in the MENA region.
“Thanks to our comprehensive service package, the new power plant will reliably supply the gas extraction plant with electricity and process steam for a long time. With the right technological solutions, Siemens continues to demonstrate its commitment to the Kingdom, its partners and Saudi society.”
The Fadhili CHP project is scheduled for completion by the end of 2019, and will play a key role in expanding gas production to meet the rapidly growing domestic energy demand.
Siemens to equip Fadhili plant with locally produced gas turbines
Siemens to equip Fadhili plant with locally produced gas turbines
‘Wealth Grows Here’: Aljazira Bank launches new brand identity
Aljazira Bank announced the launch of its new brand identity under the slogan “Wealth Grows Here,” marking a natural evolution in a growth journey spanning more than five decades. Over the years, successive phases of transformation have shaped the bank into what it is today, with the new identity serving as the culmination of a strategic chapter that strengthened the bank’s role within the Saudi banking sector.
As part of this milestone, the new brand launch also extended to Aljazira Capital, the bank’s investment arm, reflecting a unified vision and strategic alignment across the group. The updated identity of Aljazira Capital underscored its evolution as a specialized investment and wealth management institution, focused on delivering carefully structured investment solutions and strengthening its role as a trusted partner in building and growing long-term investment portfolios, fully aligned with the bank’s broader direction.
The announcement also included the launch of the new identity for Fawri, aligning it with the bank’s updated brand and reflecting its commitment to delivering reliable and seamless financial transfers within an advanced and integrated financial ecosystem.
Naif bin Abdulkareem Al-Abdulkareem, CEO and managing director of Aljazira Bank, said: “The new brand identity goes beyond a visual change; it is a true reflection of what the bank has become today. Since the strategic refresh in 2023, we have restructured how we operate, aligned our business lines around a shared objective, and strengthened execution. The progress we see today, in service quality and speed of delivery — confirms that we are moving in the right direction.”
The new identity reflects the outcomes of the bank’s 2023 strategic transformation, a pivotal milestone in its journey. This phase focused on developing an integrated banking ecosystem with a stronger emphasis on individual wealth management, supported by a more agile and efficient operating model led by digital channels. It balanced sustainable growth with strengthening the corporate portfolio, accelerating investment in digital infrastructure and human capital, and enhancing operational efficiency.
Since its establishment, Aljazira Bank has progressed through successive stages of growth, evolving from a traditional bank into a more innovative and specialized financial institution. Today, it places wealth management at the core of its proposition, offering a banking experience built on long-term relationships and a deep understanding of clients’ financial aspirations. In parallel, the bank has continued to reinforce its role as a trusted partner to the business sector, serving large corporates as well as small and medium-sized enterprises through solutions that support growth, sustainability, and the Kingdom’s broader economic development goals.
At the heart of this direction stands the bank’s new slogan, “Wealth Grows Here,” which captures its role as a key partner in building and preserving wealth for individuals and businesses alike, creating sustainable value beyond the delivery of traditional banking services.
