Saudi Grains Organization signs $106.3m Dhiba concrete silos project

The northern regions of the Kingdom are expected to witness an increase in demand. (Shutterstock)
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Updated 07 April 2022
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Saudi Grains Organization signs $106.3m Dhiba concrete silos project

  • Silos will have a capacity of 120,000 metric tons

RIYADH: The Saudi Grains Organization (SAGO) signed today a contract for the construction of Dhiba concrete silos with one of the national companies specialized in this field, with a capacity of 120,000 metric tons, SPA reported.

The northern regions of the Kingdom are expected to witness an increase in demand within the framework of the major projects being implemented, said Minister of Environment, Water and Agriculture and Chairman of SAGO Abdul Rahman Al-Fadhli, adding that this project will contribute to food security.

The project will be implemented in Dhiba port within 34 months, with a value of SR399 million ($106.3 million), consisting of two separate units with a capacity of 60,000 tons per unit, SAGO Governor Ahmed bin Abdul Aziz Al-Faris said.

The governor also pointed out the implementation of conveyors and equipment for handling grain and direct unloading equipment from ships with a capacity of 1,000 tons per hour, a backup station for electrical generators and an integrated network for rain drainage according to the highest environmental standards.


QIA, Franklin Templeton launch $200m Qatar equity fund 

Updated 56 min 54 sec ago
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QIA, Franklin Templeton launch $200m Qatar equity fund 

RIYADH: Qatar’s sovereign wealth fund has teamed up with Franklin Templeton to launch a $200 million equity fund focused on the local stock market, part of efforts to deepen liquidity and attract institutional investors to Qatar’s capital markets. 

The Qatar Investment Authority and the US asset manager said the Franklin Templeton Qatar Equity Fund will operate as a day-traded mutual fund investing in companies listed on the Qatar Stock Exchange, according to the Qatar News Agency. 

The launch follows a series of recent global partnerships by QIA, including a preliminary deal with Goldman Sachs targeting up to $25 billion in investments, as Qatar pushes to diversify its economy and expand its financial sector.

Mohammed Saif Al-Sowaidi, CEO of QIA, said: “With the launch of Franklin Templeton Qatar Equity Fund, QIA is further expanding our Active Asset Management Initiative to support Qatar’s financial markets.”  

He added: “As one of the largest global asset managers, Franklin Templeton brings a wealth of experience and resources to QSE and the broader Qatari economy and we look forward to working closely together on this initiative.” 

The fund aims to give investors exposure to Qatar Stock Exchange-listed equities, allowing local and international institutions to access an actively managed portfolio in the domestic market, QNA reported. 

QIA is the fund’s lead investor, contributing cash and shares, underscoring its commitment to the Qatari stock market. The reallocation of QSE-listed shares is intended to support the domestic economy and enhance market liquidity, it added. 

Franklin Templeton manages about $1.68 trillion in assets as of Dec. 31, 2025, making it one of the world’s largest investment firms. 

“Through our partnership with QIA, we aim to contribute meaningfully to the continued development of the Qatari financial ecosystem. We see this collaboration as the beginning of a long-term strategic partnership and part of a broader, multi-asset collaboration between Franklin Templeton and QIA,” said Jenny Johnson, CEO of Franklin Templeton. 

The Franklin Templeton Qatar Equity Fund represents a key step in QIA’s active asset management strategy and highlights its partnership with Franklin Templeton in supporting Qatar’s capital markets through global investment expertise.