Desalination Reduces Carbon Emissions by 22% of Saudi Arabia’s Total Targets

SWCC aims to strengthen its global leadership in the desalination industry. (Asharq Al-Awsat)
SWCC aims to strengthen its global leadership in the desalination industry. (Asharq Al-Awsat)
TT
20

Desalination Reduces Carbon Emissions by 22% of Saudi Arabia’s Total Targets

SWCC aims to strengthen its global leadership in the desalination industry. (Asharq Al-Awsat)
SWCC aims to strengthen its global leadership in the desalination industry. (Asharq Al-Awsat)

The Saline Water Conversion Corporation (SWCC) announced on Thursday that it has succeeded in curbing carbon dioxide emissions by 28 million tons annually, which represents 22 percent of the Kingdom’s total target for the year 2030.

Eng. Mamdouh Al-Shuaiby, Executive Manager of Industrial Security and Environment at the SWCC, told Asharq Al-Awsat that the corporation would gradually dispense with thermal desalination plants and replace them with environmentally-friendly reverse osmosis (RO) technology.

He noted that a new initiative was launched in coordination with the Water Transport and Technology Company to raise the level of environmental commitment in water transmission systems, by developing an environmental management system and relevant construction and operational licenses.

Shuaiby emphasized that the RO system was one of the best eco-friendly technologies for not involving burning processes and emissions. He said that the corporation was working on developing a system that absorbs gases emitted from chimneys and converts them into investment products.

In a statement, the SWCC said it has invested its engineering and research expertise to expand the design innovation, implementation and supply of the new high-efficiency desalination plant that consumes less energy and is more flexible in operation and mobility.

SWCC said it aims to “strengthen its global leadership in the desalination industry, continue its plans to achieve the goals of the Kingdom’s Vision 2030, and enable local content in all its current and future development projects.”



Gold Steady as Market Eyes Middle East Conflict, Fed Decision

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT
20

Gold Steady as Market Eyes Middle East Conflict, Fed Decision

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices were steady on Tuesday as investors assessed the conflict between Israel and Iran and looked ahead to this week's US Federal Reserve's policy meeting.

Spot gold was steady at $3,383.01 an ounce, as of 0851 GMT US gold futures fell 0.5% to $3,401.30.

Israel and Iran exchanged attacks for a fifth consecutive day on Tuesday, Reuters reported.

US President Donald Trump urged an evacuation of Iran's capital Tehran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation room.

"Markets are waiting for the latest signals whether hostilities between Israel and Iran would escalate or will remain contained," said Han Tan, chief market analyst at Exinity Group.

"Gold still retains its bias for lurching upwards on signs of a worsening Middle East conflict, given the precious metal's stature as the preferred safe haven of late."

Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment.

The US central bank rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year.

Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday.

Elsewhere, spot silver was up 0.3% at $36.45 per ounce, platinum was unchanged at $1,246.59, while palladium fell 0.4% to $1,025.44.