Saudi Arabia Secures Half of the Gulf’s Energy Spare Parts Market

Inside the factories of Immensa in Dammam (Asharq Al-Awsat)
Inside the factories of Immensa in Dammam (Asharq Al-Awsat)
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Saudi Arabia Secures Half of the Gulf’s Energy Spare Parts Market

Inside the factories of Immensa in Dammam (Asharq Al-Awsat)
Inside the factories of Immensa in Dammam (Asharq Al-Awsat)

Saudi Arabia’s energy spare parts industry is experiencing unprecedented growth, driven by the adoption of digital manufacturing technologies. The Kingdom now commands more than half of this market in the Gulf region, with an estimated annual value of $10 to $15 billion, while the global market stands at approximately $90 billion per year. This underscores the importance of localization, especially with the increasing adoption of 3D printing.

During an interview with Asharq Al-Awsat, Fahmi Al-Shawwa, founder and CEO of Immensa, said he expects the local sector to witness significant growth in the coming years, as expansion opportunities in the Saudi market present promising prospects.

Immensa, a Saudi company, is the largest digital manufacturer in the Middle East and North Africa. The company has digitized over 15,000 spare parts, evaluated more than 2.1 million parts using artificial intelligence, and produced over 200 components using additive manufacturing—an advanced technique that builds parts layer by layer from a 3D digital model.

According to Al-Shawwa, the value of locally manufactured energy sector components in Saudi Arabia using 3D printing ranges between $1 billion and $4 billion, creating significant opportunities for local companies to expand their operations.

He also revealed that Immensa aims to double its growth by 2025 as 3D printing technologies continue to advance. In 2024, the company achieved a 300% increase in production capacity, reflecting substantial improvements in manufacturing processes.

Al-Shawwa emphasized that Immensa is expanding its production capabilities and offering innovative solutions to enhance efficiency. The adoption of 3D printing allows Saudi Arabia to produce high-value components domestically, strengthening the industrial sector, which contributes 12% to 15% of the country’s GDP.

The biggest challenge facing the industry is raising awareness about the potential of advanced manufacturing technologies, according to Al-Shawwa. He stressed that 3D printing is not just an emerging industry but a revolutionary manufacturing method capable of transforming various sectors.

“Both the private and public sectors face challenges in embracing the risks associated with adopting new technologies. This calls for greater awareness and education on the true benefits of these innovations,” he stated.

Regarding local talent development, Al-Shawwa confirmed that Immensa is investing in specialized consulting services, training programs, and new manufacturing facilities to support national innovation. The company is also strengthening cybersecurity and infrastructure to create a secure and sustainable environment for protecting local digital inventories.

He noted that Saudi Arabia is strongly committed to adopting the Fourth Industrial Revolution, which has become a strategic necessity rather than a luxury.

Al-Shawwa concluded by saying that Immensa’s greatest value lies in its ability to create a local digital inventory, which could reduce reliance on global markets and unlock new opportunities for innovation in the energy spare parts industry.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.