Saudi to start key railway line
THE North-South Railway, the 1,250-km-long rail network which will start from Riyadh and run through Al-Majma’ah, Qasim, Hail and Jouf areas of the kingdom to reach Al Qurayyat, will be launched early next year, said a report citing a senior government official. The project is feasible both at the economic and security levels as it will save lives of travellers on the roads and protect them against the hazards of commuting by car, reported the Arab News, citing Riyadh Governor Prince Faisal bin Bandar. He was addressing the media during the trial run from Riyadh to Al-Majma’ah.
Saudi-Egypt $1bn JV
EGYPTIAN Suez Canal Authority (SCA) has signed a partnership agreement with a leading Saudi organisation to set up an iron and steel factory in the Ain Sukhna region of Egypt at an investment of $1 billion said a report. As per the deal, Saudi International Expertise Association Academy will set up the new factory on a plot owned by the SCA. Once completed, the new Suez Canal for Iron and Steel plant will boast a production capacity of about 1.2 million tonnes of steel per annum, reported Amwal Alghad.
Qatari firm to recycle waste
QATARI Primary Materials Company (QPMC) said it has signed a contract with Britain’s TRL for the development of quality recycled aggregate for use in construction. An independent company of engineers, consultants and technical specialists, TRL provides research, technology and software solutions.
With current construction projects in Qatar consuming large quantities of imported aggregate and generating huge quantities of construction waste, the duo have agreed to adopt innovative solutions to convert local construction waste into usable aggregate products that can be used for various construction applications.
Almarai net profit surges
SAUDI-based Almarai, the largest dairy company in the GCC, made a net profit of SR654.6 million ($174.3 million) in the three months to September 30, up 10 per cent from SR595.1 million ($157.4 million) in the year-earlier period. The growth in net income was mainly due to a 2.5 per cent jump in sales in the main segments from dairy and juice, bakery.
