Saudi Arabia to become 1st G20 country to replace all street lights with energy-saving LEDs: official

Mohammed Muaafa, technical services director of Tarshid, speaks at a panel titled “Saudi Vision 2030 Outlook” on the first day of the Global Project Management Forum 2024 taking place in Riyadh from June 2 to 3. AN photo
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Updated 03 June 2024
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Saudi Arabia to become 1st G20 country to replace all street lights with energy-saving LEDs: official

RIYADH: Saudi Arabia is set to become the first G20 country to install LED street lights to conserve energy, said a top official of the National Energy Services Co., known as Tarshid. 

Speaking during a panel titled “Saudi Vision 2030 Outlook” on the first day of the Global Project Management Forum 2024 taking place in Riyadh from June 2 to 3, Mohammed Muaafa, technical services director of Tarshid, said the company has worked on a large number of projects to conserve electricity in various types of commercial and residential projects across the Kingdom.

These efforts are in line with the Kingdom’s target of producing 50 percent renewable electricity by 2030 and achieving net-zero emissions by 2060.

“We will be the first country in G20 that fulfills this goal of turning all the street lamps into energy-saving ones,” Muaafa said.

The top official said Tarshid’s main objective is to reduce the consumption of electricity and reduction of emissions.

He said the project provided us energy savings of 70-75 percent.

The Global Project Management Forum 2024 is designed to bring together the most influential global community of project managers and diverse stakeholders for immersive learning, networking, and collaboration.

The two-day annual aims to highlight the latest developments in the field of project management across various sectors and serve as a platform for industry experts to share creative ideas to achieve their professional goals.


 


Closing Bell: Saudi main index closes in red at 10,414 

Updated 17 December 2025
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Closing Bell: Saudi main index closes in red at 10,414 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06. 

Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining. 

The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67. 

The MSCI Tadawul Index edged down 0.45 percent to 1,368.36. 

Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90. 

Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42. 

Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31. 

AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29. 

On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu. 

In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026. 

United Mining Industries Co.’s share price was unchanged, closing at SR42.54.  

Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025. 

According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings. 

Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.