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SDC CEO: We Seek Investing $800 Mln in Infrastructure Development

SDC CEO Husameddin Al-Madani
SDC CEO Husameddin Al-Madani
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SDC CEO: We Seek Investing $800 Mln in Infrastructure Development

SDC CEO Husameddin Al-Madani
SDC CEO Husameddin Al-Madani

With Crown Prince Mohammed bin Salman announcing the creation of the Soudah Development Company (SDC) in Saudi Arabia’s Asir region, the kingdom is set for building a luxury mountain destination that features immersive cultural experiences.

The destination adds another dimension to Saudi Arabia’s ambitious tourism goals, and complements those destinations created on the Red Sea coast and around the capital city of Riyadh.

SDC CEO Husameddin Al-Madani, in an interview with Asharq Al-Awsat, confirmed that the company is seeking to invest more than SR 3 billion ($800 million) in infrastructure development in the targeted region.

This will contribute an estimated SR29 billion ($7.7 billion) to the Kingdom’s cumulative GDP by 2030, Madani confirmed, adding that the company will reveal more details about its general plans soon.

Madani revealed that the SDC will work on quality projects through the development of the kingdom’s tourism and entertainment sectors.

Planned developments include 2,700 hotel rooms, 1,300 residential units, and 30 unique commercial and entertainment attractions that aim to attract over 2 million visitors annually.

“Soudah is home to the tallest peak in the kingdom, with an elevation of over 3,000 meters. It also offers a large number of heritage villages, archeological sites, and juniper forests,” Madani said, stressing that the area has great potential to become a global mountain destination.

When asked on the date of releasing the SDC’s comprehensive general scheme, Madani confirmed that the company is working with a team of development experts and that the project’s plans will be announced later.

“The SDC aims to attract 2 million domestic and international tourists year-long by 2030,” Al-Madani asserted, pointing out that the size of expected investments in the development project will reach around SR 11 billion ($2.9 billion) with opportunities offered to both local and international investors.

Madani affirmed that the company aims to attract international investments to the region, give local investors opportunities, and support small and medium enterprises.

He further revealed that the SDC has practically started working on preserving the region’s heritage and culture, paying attention to its originality, and empowering the local community.

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Ukrainian Ambassador to Saudi Arabia: Our Top Priority is Energy Support

The 11th Saudi relief plane operated by the King Salman Humanitarian Aid and Relief Center (KSrelief) arrived in Poland in Friday ahead of heading to Ukraine. (SPA)
The 11th Saudi relief plane operated by the King Salman Humanitarian Aid and Relief Center (KSrelief) arrived in Poland in Friday ahead of heading to Ukraine. (SPA)
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Ukrainian Ambassador to Saudi Arabia: Our Top Priority is Energy Support

The 11th Saudi relief plane operated by the King Salman Humanitarian Aid and Relief Center (KSrelief) arrived in Poland in Friday ahead of heading to Ukraine. (SPA)
The 11th Saudi relief plane operated by the King Salman Humanitarian Aid and Relief Center (KSrelief) arrived in Poland in Friday ahead of heading to Ukraine. (SPA)

Ukrainian Ambassador to Saudi Arabia, Anatolii Petrenko, stressed that his country’s “top priority is energy support in multiple ways,” pointing to preparatory measures between Saudi Arabia and Ukraine concerning a Saudi aid package, most of which consists of energy equipment.
In an interview with Asharq Al-Awsat, Petrenko said that the Kingdom has been assisting Ukrainian civilians since the early days of the “full-scale Russian invasion,” as he described it. He said Saudi aid “has helped provide decent living conditions for our people, who have been forced by the war to relocate to safe areas within the country. It has also helped us maintain citizens' access to medical services and sustain social infrastructure.”
The ambassador emphasized the difficult period Ukraine is facing due to “energy shortages caused by regular Russian attacks on critical infrastructure,” which previously ensured daily needs for urban and municipal areas. He expressed concern about the approaching winter season and the severe drop in temperatures across the country.
Petrenko pointed to the need for energy resources, as well as access to light, water and heat, to enable the Ukrainian agricultural sector to continue contributing to global and regional food security.
He expressed his country’s firm belief in the importance of Saudi Arabia’s support to bring energy self-sufficiency in Ukraine, presently and in the long term.”
He added: “Through our united efforts, we can enhance the green energy agenda by smartly utilizing diverse renewable energy sources as key resources that can give us complete energy independence.”
The Ukrainian ambassador described the Saudi friendship as “an Arab generosity.” He noted that both Ukraine and the Kingdom were jointly studying “the latest innovations and sustainable technologies, such as combined heat and power plants and piston turbines, which could offset energy losses in various regions of Ukraine and thus prevent humanitarian crises in the winter season for hundreds of thousands of people.”
On the occasion of Ukraine’s Independence Day, Petrenko stated that his country “stands firmly to celebrate another anniversary of its independence, while appreciating the immense contributions and aid provided by international partners and friends, including Saudi Arabia, which holds a prominent position in leading humanitarian efforts in the region and encourages others to follow the same approach.”
“This represents a success story that will open a new chapter in energy resilience, which helps us achieve national independence,” he underlined.
The ambassador added that Ukraine highly values its bilateral relations with the Kingdom.
“On behalf of my country, I express my gratitude to Saudi Arabia, both the government and the people, for everything they are doing to alleviate the humanitarian challenges facing civilians today,” he told Asharq Al-Awsat.
Riyadh continues to send planes carrying tons of humanitarian aid to the Ukrainian people through the King Salman Humanitarian Aid and Relief Center (KSRELIEF).
This follows an agreement and memorandum of understanding signed by both sides last year, which included providing an additional humanitarian aid package to Ukraine amounting to $400 million, as well as emergency medical and shelter aid valued at $10 million for refugees from Ukraine to neighboring countries, particularly Poland, in coordination with the Polish government and UN organizations.