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- Rotana expands its portfolio with Rotana Jabal Omar Makkah
- Accor adds Sofitel Jabal Omar Makkah to its portfolio
- TAQA exits India coal asset in push toward flexible gas and clean power
- NMDC Group profit climbs 26% to Dh2.8 bln in the first 9 months of '25, backlog hits Dh62.3 bln
- Gulf Bank celebrates 65 years of growth, excellence and community connection
- stc partners with Mobile Arts to enable Blacknut cloud gaming service to its customers in Kuwait
- OIA's strategic push yields results, elevates MSX's international profile
- China Agrees to One-year Rare Earth Export Deal, Issue 'Settled' Says Trump
- EDO, Sumitomo form energy supply chain JV in Duqm
- Al Rayan Bank reports QR1.32bn net profit in first 9 months of 2025
22/10/2025 01:40 AST
Leading global utility project developer Acwa Power has announced that one of its key affiliates - Hajar Two Electricity Company - has achieved a SAR10.8 billion ($2.9 billion) financial close for the Qurayyah CCGT IPP Expansion Project located in the Eastern Province of Saudi Arabia.
Once operational, the combined cycle power plant will boast a production capacity of 3,010MW, said Acwa Power in its filing to Saudi bourse Tadawul.
A major player in the region, Acwa Power's effective shareholding in the project is 40%. Its scope of work work includes development, construction, owning and operation of a combined cycle gas turbine (CCGT) facility.
The 28-year funding was secured by a group of local, regional, and international lenders. These include Abu Dhabi Commercial Bank; Ajman Bank; Alinma Bank; Arab National Bank; Banque Saudi Fransi; Boubyan Bank; Commercial Bank of Dubai; Eurobank; HSBC: National Bank of Kuwait; Riyad Bank; Saudi Awwal Bank; Standard Chartered Bank; Sumitomo Mitsui Trust Bank; The Korea Development Bank; The Saudi Investment Bank and The Saudi National Bank.
Trade Arabia
30/10/2025
Saudi utilities giant ACWA Power plans to forge strategic partnerships and secure major financing to support its sustainability goals and strengthen Saudi Arabia's position as a global leader in clea
Arab News
06/10/2025
Consortiums led by leading utility majors including French group EDF Renouvelables; Hong Kong-based Jinko Power and Chinese group Tianjin Zhonghuan New Energy as well as regional giants Saudi-based A
Trade Arabia
24/09/2025
The Renewables (RENU) vertical of Larsen & Toubro has signed a memorandum of understanding with ACWA Power for the renewables and grid scope of the pioneering Yanbu Green Ammonia Project in Saudi Ara
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.42 | -0.02 (-0.59 |
| DEWA | 2.82 | 0.02 (0.71 |
| SAUDIELECTRICITY | 15.87 | 0.04 (0.25 |
| EMPOWER | 1.61 | -0.02 (-1.23 |
| MARAFIQ | 41.24 | 0.16 (0.38 |
30/10/2025
Rotana, one of the leading hotel management companies in the region, has announced the signing of Rotana Jabal Omar - Makkah, during the Future Hospitality Summit (FHS) Dubai 2025, further cementing
Trade Arabia
30/10/2025
Accor, a global leader in hospitality, has announce the signing of Sofitel Jabal Omar Makkah, a property located in the heart of Makkah, within walking distance of the holy mosque.
Set to op
Trade Arabia
30/10/2025
Abu Dhabi National Energy Company has exited its lignite-fired power operations in India, marking another step in the utility's shift toward flexible gas and renewable energy assets.
TAQA so
Gulfnews
30/10/2025
NMDC Group posted Dh20.5 billion in revenue and Dh2.8 billion in net profit for the first nine months of 2025, rising 11% and 26% year-on-year respectively.
The Group's net profit margin rea
Kuwait Times
30/10/2025
Sixty-five years ago, a modest dream took shape on Fahad Al-Salem Street in the heart of Kuwait City. In a small rented apartment, with only fifty employees and a capital of twenty-four million rupee
Kuwait Times
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