Saudi flynas Joins UN Global Compact to Promote Sustainability

The Saudi national carrier relies on digital transformation as a strategic pillar. (Asharq Al-Awsat)
The Saudi national carrier relies on digital transformation as a strategic pillar. (Asharq Al-Awsat)
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Saudi flynas Joins UN Global Compact to Promote Sustainability

The Saudi national carrier relies on digital transformation as a strategic pillar. (Asharq Al-Awsat)
The Saudi national carrier relies on digital transformation as a strategic pillar. (Asharq Al-Awsat)

Saudi low-cost airline flynas announced joining the United Nations Global Compact, becoming the first airline in the Kingdom and the first low-cost airline in the Middle East to join the world’s largest corporate sustainability initiative.

The UN Global Compact, formally launched in July 2000, is a voluntary UN agreement designed to encourage companies around the world to develop, implement and disclose responsible and sustainable corporate policies and practices.

flynas is the first company to issue digital tickets in 2007 as well as boarding passes, and the first to allow online payment in the Kingdom.

“We are proud to be the first carrier in Saudi Arabia and the first LCC in the Middle East to join the world’s largest corporate sustainability initiative, a step enhancing flynas leadership since its launch in 2007 in adopting projects and initiatives with a sustainable impact on the environment, society, and the economy, and solidifying our efforts to draft a sustainable future vision for the aviation industry,” said Bander Almohanna, CEO and Managing Director of flynas.

He continued: “We place sustainability at the core of flynas’ operations, in line with the Kingdom’s goals to reach zero neutrality in greenhouse gas emissions by 2060.”

A report on sustainability data in flynas during the years 2021 and 2022 monitored a decrease in carbon emissions from the company’s operations during 18 months, equivalent to planting 6.44 million trees, through three tracks: raising fuel efficiency, promoting digital transformation, and adopting sustainable initiatives that impact the environment, society and the economy.

Since its inception, the company focuses on adopting digital transformation as a strategic pillar in its operational and commercial operations, to reduce the use of paper and save fuel.

The airline relied on smart devices in the procedures manuals inside the cockpit, and also adopted software and technical solutions to enhance the functions of maintenance, engineering and logistics.



UK-Saudi-UAE Alliance to Develop Ground-breaking Petrochemical Complex in Egypt

The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation. Photo: Egypt’s Ministry of Petroleum
The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation. Photo: Egypt’s Ministry of Petroleum
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UK-Saudi-UAE Alliance to Develop Ground-breaking Petrochemical Complex in Egypt

The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation. Photo: Egypt’s Ministry of Petroleum
The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation. Photo: Egypt’s Ministry of Petroleum

The UK’s Shard Capital Partners LLP, in collaboration with UAE-based Royal Strategic Partners and Saudi Arabia’s Al-Qahtani Group, has announced the signing of a Framework Agreement with Egypt’s Ministry of Petroleum and Ministry of Investment to develop a ground-breaking petrochemical complex in the industrial zone of New Alamein City.

In addition, Shard Capital said it is having initial discussions with Orascom Construction for the investment in the construction and operation of the complex outside battery limits on a Build Own and Operate basis.

The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation, supporting Egypt’s economic development through job creation, Shard Capital said in a statement.

The project will establish an integrated complex with a production capacity of approximately 3.1 million tons annually of eight specialized petrochemical products. Using crude oil as its primary feedstock, the facility will include a refinery, and a mixed steam cracker unit designed to achieve one of the highest global conversion rates.

This state-of-the-art complex represents a transformative step for the industry by employing cutting-edge global technologies to maximize production efficiency and convert crude oil into high-value end products. Additionally, it will significantly enhance Egypt’s export capabilities in the petrochemical sector, playing a pivotal role in driving economic growth and strengthening global market position.

“Signing this agreement marks a historic milestone for Shard Capital LLP and reflects our deep commitment to advancing Egypt’s petrochemical sector. We are proud to be part of this critical project that will revolutionize the industry by leveraging cutting-edge American and European technologies to ensure maximum efficiency in converting raw materials into specialized petrochemicals while delivering exceptional returns for both the complex and Egypt,” said Capital Markets Advisor at Shard Capital Partners LLP William Blain.

He added: “We are committed to implementing the highest environmental sustainability standards and minimizing carbon emissions. Our ongoing collaboration with US partners on blue hydrogen production feasibility studies represents a step toward a more sustainable future.”

CEO of Shard Capital Partners LLP Toby Raincock said: “This complex will enhance Egypt’s industrial capabilities, open new export markets, create extensive job opportunities, and drive economic development across the region.