Two MoUs to Manufacture Water Pipes in Saudi Arabia

Two MoUs to Manufacture Water Pipes in Saudi Arabia
TT

Two MoUs to Manufacture Water Pipes in Saudi Arabia

Two MoUs to Manufacture Water Pipes in Saudi Arabia

Two memorandums of understanding (MoUs) were signed Wednesday with local companies to support the manufacture and production of ductile iron pipes in Saudi Arabia.

The agreements aim to enhance local content in the water segment through joint co-operation and exchange of information and expertise.

The MoUs were signed with the International Ductile Iron Pipes Co. Ltd. (INDIPCO) and the Saudi Arabian Ductile Iron Pipes (SADIP).

The signing event was attended by Environment, Water and Agriculture Minister Abdulrahman al-Fadhli, who is also board chairman of the National Water Company (NWC).

CEO of the NWC Eng. Mohammad al-Mowkley said the MoUs are expected to promote local content in manufacturing ductile iron pipes and support the efficiency of national manufacturing quality.

They also aim to achieve sustainable development of the water sector in the Kingdom, he explained, noting that the company seeks to bolster the local supply chains in the water industry.

The MoUs were the result of cooperation with the Local Content and Government Procurement Authority in mid-September to grant priority to national factories, Mowkley stated.



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.