Download News Items from Saudi Media Newsletter for the week ending 18.05

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News Items from Saudi Media
Newsletter for the week ending 18.05.2013
Almarai aims to invest SR 3 bn over 5 years
Saudi Arabian dairy producer Almarai Co. plans to raise at least $ 500 million from the sale of a
debut international Islamic bond to help to finance ambitious growth plans, a senior executive
said.(Arab News)
Juffali, Soitec sign agreement for solar energy market growth in KSA
Khaled Juffali Company (KJC), a Saudi Arabian Investment firm, and Soitec, a world leader in
semiconductor materials for the electronics and energy industries, have signed a memorandum of
understanding (MOU) to cooperate in driving solar industry growth in Saudi Arabia and the
Middle East. Under the MOU, the two companies will create a joint venture to market and sell
concentrator photovoltaic (CPV) systems in the Kingdom, maximizing the local content.
(Saudi Gazette)
Health care exhibition attracts global players
Minister of Health Dr. Abdullah Al-Rabeeah opened the Saudi Health Exhibition and
Conference 2013, the largest international health care event in the Kingdom, at the Riyadh
International Convention and Exhibition Center. The three-day show has attracted more than 300
exhibitors from 34 countries. The show will provide a dedicated platform for key industry
players to focus on the leading trends and developments within the $ 20 billion Saudi health care
industry. (Arab News)
$ 600 bn Saudi projects to be awarded in 2013
Data from MEED shows that Saudi Arabia leads the region with close to $ 600 billion projects to
be awarded, followed by the UAE with slightly more than $ 350 billion contracts and Kuwait
with a little over $ 150 billion. Between Qatar, Oman, and Bahrain, more than $ 250 billion are
expected to be awarded this year. (Arab News)
Al-Rabeeah invites global medical firms to open offices in Kingdom
Global medical companies and health care providers should open their regional offices in the
Kingdom to take part in upcoming local projects, said Health Minister Dr. Abdullah Al-Rabeeah
during his inauguration of the Saudi Health Exhibition and Conference 2013 in Riyadh.
(Arab News)
SR 550 million iron ore factory planned in Jazan
The first factory for Alalimat and titanium dioxide smelter metal is to be set up at the Jazan
Economic City in the south of the Kingdom at a cost of SR 550 million. In its first stage, the
factory will produce 500,000 tons of titanium dioxide and 250,000 tons of pure raw steel for
local consumption. "The factory will open next year, and it is the first of its kind in Saudi
Arabia," says Crystal CEO Talal Al-Shaer. (Arab News)
Overseas agriculture to tackle food security crisis
Businessmen have stressed the need to invest in agricultural projects overseas and increase
petrochemical exports in the wake of the Kingdom's plans to stop producing wheat in 2016 due
to water shortages. The Kingdom produced almost 4 million tons of wheat per annum during the
1990s, which met local demand and sometimes enabled export to other countries. Saleh Hefni,
CEO of Halawani Brothers, told Arab News that the government’s decision to stop exporting
wheat is not enough. According to him, export of products such as bread, biscuits and date-filled
cookies should also be stopped, as these consume a huge amount of wheat. (Arab News)
Kingdom keen on fully utilizing WTO deals
Minister of Commerce and Industry Tawfiq Al-Rabiah yesterday stressed the Kingdom’s
keenness to take full advantage of regional and international agreements under the framework of
the World Trade Organization (WTO). It is with this that the Kingdom supported the Customs
Union of the Gulf Cooperation Council (GCC) states, he added. The minister said the agreement
of the Greater Arab Trade resulted in the five-fold increase in the Kingdom’s exports to the
member states. (Arab News)
Real GDP to grow by 4.4% in 2013
Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012, according to Global
Investment House's review of the Saudi economy. (Arab News)
$ 400 million Riyadh airport deal for TAV
Turkey’s TAV Construction has received the design and construction tender worth $ 400 million
for the King Khaled Airport Terminal 5 in Riyadh. (Arab News)
Customs to stop import of low-efficiency air-conditioners
Saudi Customs will not allow the import of low-efficiency air-conditioners as of Sept. 7, 2013,
Spokesman of the Customs Department Abdullah Al-Kharboush told the Saudi Press Agency
(SPA). (Saudi Gazette)
Source: Arab News/Saudi Gazette