IsDB Group partners with Turkiye to drive green industrial growth

The initiative supports Turkiye’s 2053 net-zero emissions target and aligns with the 12th National Development Plan (2024–28) and the 2030 Industry and Technology Strategy.
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Updated 17 June 2025
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IsDB Group partners with Turkiye to drive green industrial growth

  • Initiative supports Turkiye’s 2053 net-zero emissions target

JEDDAH: The Islamic Development Bank Group has partnered with Turkiye’s Ministry of Industry and Technology to advance sustainable manufacturing and infrastructure as part of a broader push to modernize the country’s industrial zones and accelerate its green transition.

The initiative supports Turkiye’s 2053 net-zero emissions target and aligns with the 12th National Development Plan (2024–28) and the 2030 Industry and Technology Strategy.

According to the Saudi Press Agency, the project aims to cluster industrial enterprises within designated zones, reducing environmental impact and promoting climate-conscious development.

While Turkiye has committed to peak emissions by 2038 and reach net zero by 2053, independent assessments question the feasibility of this goal.

Climate Action Tracker has rated the strategy as “poor,” citing a lack of ambition and transparency, and warning that the 15-year window to net zero is overly compressed.

Still, some subsectors—such as cement, iron and steel, aluminum, and fertilizers—have set clearer reduction targets, although they remain exceptions, CAT notes.

Walid Abdelwahab, director of the IsDB Group’s regional hub in Turkiye, described the project as “a vital step in fulfilling the IsDB’s commitment to supporting sustainable industrial transformation, enhancing economic resilience, and promoting climate-conscious development.”

A multidisciplinary team from IsDB’s Jeddah headquarters and Ankara office has been working closely with various government bodies and industrial zone authorities. Discussions have focused on collecting data, identifying challenges, and shaping the project in line with national investment and climate resilience goals.

According to SPA, the initiative will also address key areas such as wastewater management, improved water use efficiency, and green infrastructure, laying the groundwork for long-term sustainable industrial growth.


Closing Bell: Saudi main market closes the week in red at 10,526 

Updated 25 December 2025
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Closing Bell: Saudi main market closes the week in red at 10,526 

RIYADH: Saudi equities ended Thursday’s session modestly lower, with the Tadawul All Share Index slipping 14.63 points, or 0.14 percent, to close at 10,526.09.    

The MSCI Tadawul 30 Index also declined 3.66 points, or 0.26 percent, to 1,389.66. In contrast, the parallel market outperformed, as Nomu jumped 237.72 points, or 1.02 percent, to close at 23,430.93.  

Market breadth on the main market remained tilted to the downside, with 156 stocks ending lower against 99 gainers.    

Trading activity eased further, with volumes reaching 80.46 million shares and total traded value amounting to SR1.66 billion ($442 million).    

On the movers’ board, Saudi Industrial Export Co. led the gainers, rising 6.6 percent to SR2.10, followed by Consolidated Grunenfelder Saady Holding Co., which advanced 6.43 percent to SR9.60.    

Raoom Trading Co. climbed 4.36 percent to SR61.05, while Astra Industrial Group gained 4.35 percent to close at SR139. Riyadh Cables Group Co. added 3.77 percent to end the session at SR135.00.    

On the downside, Methanol Chemicals Co. topped the losers’ list, falling 5.96 percent to SR7.41.  

Flynas Co. retreated 5.43 percent to SR61.00, while Leejam Sports Co. dropped 5 percent to close at SR100.80.    

Alramz Real Estate Co. slipped 4.64 percent to SR55.50, and Almasane Alkobra Mining Co. declined 4.55 percent to SR84.00.  

On the announcement front, ACWA Power said it has completed the financial close for the Ras Mohaisen First Water Desalination Co., a reverse osmosis desalination project with a capacity of up to 300,000 cubic meters per day, alongside associated potable water storage facilities totaling 600,000 cubic meters in Saudi Arabia’s Western Province.    

The project was financed through a consortium of local and international banks, with total funding of SR2.07 billion and a tenor of up to 29.5 years, while ACWA Power holds an effective 45 percent equity stake.  

Shares of ACWA Power ended the session at SR185.90, up SR0.2, or 0.11 percent.     

Meanwhile, Consolidated Grunenfelder Saady Holding Co. announced the sign-off of a customized solutions project with Saudi Aramco Nabors Drilling Co., valued at SR166.0 million excluding VAT.    

The 24-month contract covers the sale and maintenance of field camp facilities, with the financial impact expected to begin from the first quarter of 2026.