Saudi, Oman investment ministers visit clean energy facility at Alfanar Industrial City in Riyadh

Khalid bin Abdulaziz AlFalih, Saudi minister of investment (second from left); Qais bin Muhammad AlYousef, Omani minister of commerce, industry and investment promotion (left); Abdul Salam Al-Mutlaq, chairman of Alfanar Company; Amer AlAjmi, executive vice president of AlFanar (Supplied)
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Updated 30 September 2022
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Saudi, Oman investment ministers visit clean energy facility at Alfanar Industrial City in Riyadh

RIYADH: Investment ministers from Saudi Arabia and Oman were given a tour of one of the largest private industrial cities in the Middle East in a move to highlight the Kingdom’s clean energy projects.

The Saudi Minister of Investment Khalid bin Abdulaziz AlFalih and his Omani counterpart Qais bin Muhammad AlYousef visited Alfanar Industrial City in Riyadh, where they met leading figures from the company

Amer AlAjmi, executive vice president of Alfanar Development, gave a presentation focusing on the firm's clean energy projects around the world, as well as the full range of services and products the company offers and information about Alfanar’s investment portfolio. 

During the tour, the ministers were shown the women’s section, which began in 2003 with four women, and currently has more than 700 female Saudi employees.

Abdulsalam AlMutlaq, chairman of Alfanar, said: “This visit at the level of ministers from Saudi Arabia and Oman, and in the presence of officials from both parties, comes from their belief in the role of the private sector as a successful partner in localizing the industry and promoting local content in line with the Kingdom’s Vision 2030.”

He added: “Alfanar Company has a distinguished experience and accumulated experience gained over the years in the localization of the energy industry, as it had a leading role in the infrastructure work, as well as transferring the techniques of manufacturing electrical and construction products to the Kingdom, in order to invest in the development of clean energy projects around the world.”


Closing Bell: Saudi main index closes in red at 10,847

Updated 25 February 2026
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Closing Bell: Saudi main index closes in red at 10,847

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.

The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.

The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.

The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.

The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.

Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.

On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.

Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.

On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.

In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.