5 Saudi Cities Replace 200,000 Streetlamps

A night view of Riyadh, Saudi Arabia. (AP)
A night view of Riyadh, Saudi Arabia. (AP)
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5 Saudi Cities Replace 200,000 Streetlamps

A night view of Riyadh, Saudi Arabia. (AP)
A night view of Riyadh, Saudi Arabia. (AP)

Five Saudi cities have started replacing 200,000 streetlamps aiming at reducing energy consumption by 77 percent.

The National Energy Services Company (Tarshid) has kicked off the second phase of the streetlights renovation program in Saudi cities, including Dammam, Khobar, Dhahran, Al Ahsa and Sakakah.

Tarshid said in a statement Monday that the expected energy saving in the first phase of the project in those cities is 70 to 77 percent of electricity consumption, amounting to 314,052,541 kWh. This will be achieved by installing around 216,700 LED lamps, considered more rationalizing than traditional lamps. LED lamps save around 241,257,257 kWh/y with a better efficiency.

According to the contract signed by Tarshid and the managements of those regions, 70,000 LED lamps will be installed in Dammam, 42,000 in Khobar and Dhahran, 74,000 in Al Ahsa, and 31,000 Sakakah, as part of the streetlights renovation program that debuted in Riyadh.

The company seeks to renovate over two million lamps in the streets in the coming period, by installing rationalizing lamps based on technical studies and global standards adopted in the energy efficiency field.

Tarshid said these projects come as part of Saudi Arabia's plan to reduce electricity consumption by raising energy efficiency in the public sector. The total energy consumption in the public sector is 38.5 GWh, up to 13 percent of the overall consumption in the Kingdom.

As per the coming projects, Tarshid revealed that preparations are ongoing to launch the third phase of the lamps replacement project in more cities, including Jeddah, Al-Qassim, Riyadh, and some provinces in Al-Jawf region in February.

The total renovated lamps in Saudi Arabia are set to reach 500,000 after the completion of these projects.



MBC Group Sells Part of Its Stake in Al Arabia for $110 Million

MBC Group inaugurates its sprawling new headquarters complex in the capital city of Riyadh in 2022 (SPA)
MBC Group inaugurates its sprawling new headquarters complex in the capital city of Riyadh in 2022 (SPA)
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MBC Group Sells Part of Its Stake in Al Arabia for $110 Million

MBC Group inaugurates its sprawling new headquarters complex in the capital city of Riyadh in 2022 (SPA)
MBC Group inaugurates its sprawling new headquarters complex in the capital city of Riyadh in 2022 (SPA)

MBC Group on Sunday sold part of its stake in Arabian Contracting Services Co. (Al Arabia), comprising 2.45 million shares, or 4.9% of Al Arabia's share capital, to several investors for SAR 416.5 million ($110.9 million), according to an announcement to the Saudi Stock Exchange “Tadawul.”
Al Arabia is a leading company in outdoor advertising in the Kingdom. Its business includes setting up, operating and maintaining outdoor advertising billboards, specifically roadside advertising and indoor advertising.
The book value of the Company's entire share in Al Arabia is around SAR 1 million , and the book value of the shares sold in the Transaction is around SAR 246 million.
The purpose of the transaction is to strengthen the Company's financial position and realize a portion of the Company's investment profits, the announcement to Tadawul said.
After the Transaction, the Company will retain a 15.1% stake in Al Arabia as an investment in an associated company.
The remaining shares held by the Company in Al Arabia will be subject to a 180-day contractual lock-up undertaking starting from the Transaction execution date.
On Sunday morning, MBC Group announced the full repayment of a SAR 497.25 million ($132.4 million) loan owed to Istedamah Holding Co., pursuant to the loan agreement.
In a statement to Tadawul, the group said that the repayment was done from the available liquidity with no material impact on its financials.