Saudi Aramco Signs 5 Agreements with French Firms

Saudi Aramco has signed five agreements with French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin. Photo courtesy of Aramco website
Saudi Aramco has signed five agreements with French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin. Photo courtesy of Aramco website
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Saudi Aramco Signs 5 Agreements with French Firms

Saudi Aramco has signed five agreements with French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin. Photo courtesy of Aramco website
Saudi Aramco has signed five agreements with French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin. Photo courtesy of Aramco website

Saudi Aramco has signed five agreements with French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin, the oil giant said in a statement on Saturday.

"The agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for on-road and off-road hydrogen powered vehicles in the Kingdom of Saudi Arabia," the statement added.

Other agreements have covered the areas of carbon capture technology, artificial intelligence and local manufacturing.

The agreements were signed during an event in Jeddah, organized by the Ministry of Investment to explore investment opportunities for French companies in Saudi Arabia.

The event was attended by Saudi Minister of Investment Khalid Al Falih and Franck Riester, Minister Delegate for Foreign Trade and Economic Attractiveness of France, along with Aramco President and CEO Amin H. Nasser.

“This partnership is a continuation of Aramco’s long-standing relationship with a number of leading French companies. It represents an opportunity to promote hydrogen as a low-carbon solution, not just for motorsport, but eventually for mass transportation as well,” said Nasser.

“Such collaboration helps us to advance economic growth in the Kingdom as part of the Namaat industrial investment program and takes us a step closer to our shared vision of a more sustainable future.”



Saudi Tourism Ministry Announces 99% Growth in Tourism Hospitality Licenses

The Saudi Ministry of Tourism logo
The Saudi Ministry of Tourism logo
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Saudi Tourism Ministry Announces 99% Growth in Tourism Hospitality Licenses

The Saudi Ministry of Tourism logo
The Saudi Ministry of Tourism logo

The Ministry of Tourism announced that the number of tourism hospitality facilities licensed to operate across Saudi Arabia has increased to more than 3,950 by the end of the third quarter (Q3) of 2024, recording a growth rate of 99% compared to the same period last year.

The ministry said that the number of licensed rooms reached over 443,000 by the end of Q3 of 2024. This represents a growth rate of 107% compared to the same period of Q3 2023, where the number of rooms was more than 214,000. The number of licensed hospitality facilities in Q3 2023 was about 2,000.

The significant growth in the number of tourism hospitality licenses is the result of the efforts exerted by the Ministry to empower operators and investors in the hospitality sector to obtain licenses. This includes providing facilities with operating fees reduced by up to 22%.

In addition, the Ministry has contributed to a decision exempting hospitality facilities from municipal fees as part of the Ministry's keenness to ensure the upgrading of services provided by hospitality facilities to international and domestic tourists.

During its "Our Guests Are Our Priority" campaign, the Tourism Ministry invited all beneficiaries of hospitality facility services to submit their inquiries and comments about the services provided to them by contacting the unified tourism center at 930.