The power and water sectors are experiencing a massive boom in Saudi Arabia, according to Abdulrahman Almutari, head of privatization at the National Water Company (NWC). He stated that over SR 50 billion will be invested in water and wastewater projects from 2013-2017.
Speaking at the 1stday of the 9th Water, Electricity and Power Generation Conference (WEPower 2013) in Dammam on Sunday, Almutari explained that the NWC has plans to implement a number of water projects by 2017, including SR 7 million worth of investments for wastewater projects.
Also speaking at the first day of the conference was Fouad Al-Sherebi, executive vice president of generation for Saudi Electricity Generation. He announced that SEC will be utilising the atomic and renewable energy, and will constantly work with K.A.CARE in order to have a mix of energy production." He added that SEC and K.A. CARE are working to determine the strategic location for solar plants and to prepare for the interconnection."
The WEPower Conference and Exhibition is held in parallel with Petrochem Arabia Conference & Exhibition, the two events together representing Saudi Arabia’s largest industrial gathering running until today at the Dhahran International Exhibitions Center.
The Petrochem Arabia Conference also welcomes renowned speakers, with Omar S. Bahobail, president and CEO of AL WAHA Petrochemical Co. highlighting the drive to facilitate the connection between the downstream and the upstream sectors. Another topic under the spotlight of his presentation was the question of the utilisation of by-products from the petrochemical industries, specifically with regards to the wider adaptation of recycling practices in the Middle East and in Saudi Arabia.
An number of high-profile representatives have converged at the Dhahran International Exhibitions Center to learn from the speakers as well as to experience the latest technologies and products showcased at the international exhibition held in parallel of the conference.
"WEPower and Petrochem Arabia Exhibition is a landmark exhibition bringing together the principal water, power, petrochemical and downstream companies from across the Gulf and globe to showcase their latest products and generate new business," said BME Global Ltd. Managing Director Alain Marhic.
The WEPower and Petrochem Arabia exhibitions, which is free to attend for trade professionals, showcases new product launches while thousands of visitors interact with over 100 exhibitors in a live and business-friendly environment.
National Water Company to invest SR 50 bn in new projects
National Water Company to invest SR 50 bn in new projects
School, hotel outlays keep Saudi POS weekly spending above $3bn: SAMA
RIYADH: Spending on education in Saudi Arabia increased by 4.3 percent for the week ending Jan. 10, while hotel outlays saw a 0.9 percent increase, aiding the total weekly spending to stay above $3 billion.
According to the latest data from the Saudi Central Bank, the overall point-of-sale value dropped 16.6 percent to SR14.2 billion ($3.79 billion) with transactions representing a 7.3 percent week-on-week decrease to 236.7 million.
This week saw negative changes across all the remaining sectors.
Spending in the freight transport, postal, and courier services sector saw the biggest decrease at 35.9 percent to SR47.60 million, followed by telecommunications, which posted a 26.2 percent drop to SR188.42 million.
Expenditure on apparel and clothing saw a fall of 19.3 percent to SR1.3 billion, followed by an 18.3 percent decrease in spending on books and stationery. Jewelry outlays saw a 22.3 percent decrease to reach SR422.54 million.
Spending on car rentals in Saudi Arabia fell by 14.2 percent, while airlines saw a 6.3 percent decrease to SR48.04 million.
Expenditure on food and beverages saw a 23.6 percent decrease to SR2.07 billion, claiming the largest share of the POS. Restaurants and cafes retained the second position despite a 7.3 percent dip to SR1.76 billion.
The Kingdom’s key urban centers mirrored the national decline. Riyadh, which accounted for the largest share of total POS spending, saw a 13.6 percent dip to SR4.85 billion, down from SR5.61 billion the previous week.
The number of transactions in the capital settled at 74.78 million, down 6.1 percent week on week.
In Jeddah, transaction values decreased by 9.5 percent to SR2.02 billion, while Dammam reported a 15 percent decrease to SR707.12 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in the Kingdom.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
