The Public Investment Fund (PIF), a sovereign wealth fund of Saudi Arabia, has acquired a 30% interest in the Saudi Tabreed District Cooling Company, a district cooling service provider, for a reported consideration of $250 million. The acquisition anticipates to support PIF’s strategy to grow and develop the local utilities and low-carbon sectors as well […]
Oracle will open a new public cloud region in Riyadh, Saudi Arabia, as part of the company’s proposed $1.5 billion to increase cloud infrastructure capabilities in the Kingdom. The investment forms part of a memorandum of understanding (MoU) signed by Oracle with the Ministry of Communications and Information Technology (MCIT). Named Oracle Cloud Riyadh Region, […]
Route Mobile said that it is bolstering its footprint in the Gulf Cooperation Council (GCC) by foraying into Saudi Arabia (KSA) after securing a license from the country’s Communications and Information Technology Commission (CITC). The Indian Communication Platform as a Service (CPaaS) provider will open a domestic sales office in Riyadh, which will operate as […]
The Saudi Agricultural and Livestock Investment Company (SALIC) has agreed to acquire a 9.2% stake in LT Foods, an Indian basmati rice processing company, for a total consideration of approximately SAR 209 million (approximately INR 455.5 crores or $55.6 million). The stake acquisition is being done by the fully-owned subsidiary of the Saudi Public Investment […]
Larsen & Toubro (L&T) said that its power transmission and distribution business has bagged multiple engineering, procurement, and construction (EPC) contracts in the ongoing quarter for transmission lines and substations in Saudi Arabia. The Indian conglomerate didn’t specify the exact contract values, but indicated their total worth to be in the range of INR 1,000 […]
Minerva Foods Australia, a joint venture (JV) between Saudi Agricultural and Livestock Investment Company (SALIC) and Minerva Foods, has acquired the Australian Lamb Company (ALC) for AUD 400 million ($254.3 million). The Australian Lamb Company is a meat producer in Australia, which has a couple of meat processing facilities in Victoria. The meat processing company […]
KEC International, an India-based infrastructure EPC contractor, said that it has bagged new orders worth INR 2,042 crores across multiple businesses. The RPG Group subsidiary secured contracts for electricity transmission and distribution (T&D) projects in the Middle East and the Americas. KEC International said that the T&D contracts include 380 kV transmission lines in Saudi […]
Aster Pharmacy, the retail arm of Aster DM Healthcare, has signed a long-term joint venture agreement with Al Hokair Holding Group to expand its footprint in the Saudi Arabian pharma market. Through the partnership, Aster Pharmacy is expected to open and run over 250 pharma stores in Saudi Arabia over a period of five years. […]
Larsen & Toubro (L&T) said that the power transmission and distribution unit of L&T Construction has won multiple orders in India and overseas worth in the range of INR 1,000 to 2,500 crores. In India, the L&T Construction unit won an order to install a 765kV transmission line in Gujarat, which will increase the available […]
Indian beauty and lifestyle retailer Nykaa has entered into a partnership with Middle East’s Apparel Group to build distinctive Gulf Cooperation Council (GCC) focused beauty offerings in the UAE, Qatar, Kuwait, Oman, Saudi Arabia, and Bahrain. Founded in 2012 by Falguni Nayar, Nykaa is said to have disrupted the Indian beauty market with its expertise […]