DUBAI: A partnership between Strukton and Wagner Solar has been awarded a $3.8 million contract (SR14.25 million) to install almost 4,300 solar panels on a Riyadh Metro depot serving the rail system’s lines 4 and 6.
The solar panels are expected to produce 2,452 megawatt hours per year, according to the contract provider Samsung C&T, which is undertaking the mechanical, electrical and plumbing works of Riyadh Metro’s line 4.
Saudi Arabia has embarked on an ambitious track to utilize renewable energy to power the more than 80 stations along the six rail lines spanning more than 176 kilometers.
Riyadh Metro is the currently the largest metro project in the world costing about $22.5 billion to build. The automatic and driverless metro system has been programmed to start operations by 2019.
Strukton and Wagner Solar partnership to fit solar panels for Riyadh Metro depot
Strukton and Wagner Solar partnership to fit solar panels for Riyadh Metro depot
No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah
CAIRO: FC Barcelona has not received any offers, whether from Saudi Arabia or elsewhere, to acquire the club, according to an official source who spoke to Al-Eqtisadiah.
According to the source, the circulating news regarding the possibility of finalizing a deal to acquire the club in the coming period is a mere rumor.
Recent Spanish reports had indicated the possibility of a Saudi acquisition of Barcelona shares for around €10 billion ($11.7 billion), a move considered capable of saving the club from its financial crises if it were to happen, especially as it suffers from debts estimated at around €2.5 billion.
Sale not in management’s hands
Joan Gaspart, the former president of the club, confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.
He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept. FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”
High market value
Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt. Meanwhile, its rival Real Madrid tops the list with a market value of €1.38 billion.
