Saudi Arabia Inaugurates Floating Desalination Plant

The floating desalination water plant self-generates electricity based on advanced technologies to filter and treat seawater (SPA)
The floating desalination water plant self-generates electricity based on advanced technologies to filter and treat seawater (SPA)
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Saudi Arabia Inaugurates Floating Desalination Plant

The floating desalination water plant self-generates electricity based on advanced technologies to filter and treat seawater (SPA)
The floating desalination water plant self-generates electricity based on advanced technologies to filter and treat seawater (SPA)

Saudi Arabia inaugurated the first floating desalination plant near al-Shuqaiq port on the western coast, as part of its water projects to enhance water security in all the Kingdom's regions.

Governor of Jazan Prince Mohammad bin Nasser bin Abdulaziz inaugurated the station in the presence of Minister of Environment, Water and Agriculture Abdul Rahman al-Fadhli, Saline Water Conversion Corporation (SWCC) governor Abdullah al-Abdulkarim.

The plant is an integrated project to generate electricity and supply the grid in the southern cities with energy.

The project is part of the privatization program, where the private sector will do the design, construction, and operation for 25 years.

The station is operating according to reverse osmosis, the leading technology for desalination of brackish water and seawater, and is equipped with a massive farm of solar panels to reduce oil dependency.

Bahri signed an agreement with SWCC to transport desalinated water from three floating stations to desalination tanks in Saudi Arabia for 20 years.

The barges would be transported according to the needs of each region across the Kingdom, ensuring consistently high availability levels and compliance with all applicable international and local codes and standards.

Once operational, each station will have a capacity of 50,000 cu m per day with a total capacity of 150,000 cu m a day.

The project will support the construction of floating water desalination plants to produce clean and safe water daily independently and reliably that supports and preserves marine life.

It will also support the promotion of innovation, the localization of the latest technologies, the empowerment of local content, and the provision of job opportunities for young people.

The project promotes the capabilities of the industrial sector in the country, maximizing its contribution to the total added value and making it more active and competitive.

SWCC seeks to boost its contribution by making a qualitative shift in the local content, encouraging national industries, and maximizing the business sector's contribution to economic development.

Abdulkarim said that SWCC receives unlimited support from the government to advance the most important factors of sustainable development and provide desalinated water.

He indicated that this achievement is within the National Water Strategy and aims to secure water resources under constant follow-up by the Minister of Environment, Water and Agriculture.

The governor stressed that the adopted high-efficiency technologies and increased production capacity would advance growth in the national economy.

For his part, the CEO of Bahri Abdullah al-Dubaikhi stated that this step is a significant achievement in terms of efforts towards business diversification in line with the long-term strategy that supports Vision 2030 to enhance national capabilities.

Dubaikhi stressed that the partnership with SWCC is a qualitative leap in this field at the regional level, noting that the expertise of Bahri will contribute to supporting the project and its implementation following the best international standards.



Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership
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Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

The Saudi Venture Capital Company (SVC) announced on Sunday that Saudi Arabia’s venture capital ecosystem achieved two historic leaps in 2025, in terms of total investment value and number of transactions, further reinforcing the Kingdom’s position as the leading venture capital market in the Middle East for the third consecutive year.

This performance reflects the tangible impact of Saudi Vision 2030 and the structural economic transformation taking place across the Kingdom.

In a statement, the SVC said that the Saudi market recorded its highest-ever number of venture capital transactions, reaching 254 deals in 2025, alongside a record investment value of $1.66 billion during the year.

This compares to approximately $60 million in 2018, representing a 25-fold increase in venture capital investment since the establishment of SVC and the emergence of its role as a market maker within the ecosystem.

CEO and Board Member of SVC Dr. Nabeel Koshak said: “What we are witnessing today in Saudi Arabia’s venture capital sector is the direct result of the unlimited support provided by the Kingdom’s wise leadership across all sectors.”

“This support has been translated into a deliberate and well-calibrated economic transformation, moving private capital into a more mature and impactful phase. These figures reflect the strength of the Saudi economy, the clarity of national vision, and the growing confidence of investors, confirming that venture capital has become a core pillar of growth and economic diversification,” he added.

He stressed that the 25-fold growth in investment since 2018, together with the record-breaking figures for both investment value and deal volume, underscores the maturity of the Saudi venture capital market.

“Venture capital today is enabling the creation of scalable companies, generating high-quality jobs, and transforming innovation into sustainable economic value, fully aligned with the objectives of Saudi Vision 2030,” he said.


Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
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Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)

Türkiye has reached a new long-term agreement to import a total of 33 bcm natural gas from Azerbaijan, Energy ‌Minister Alparslan ‌Bayraktar ‌said ⁠on Sunday in ‌a televised interview.

Under the deal, Türkiye will receive 2.25 billion cubic meters of ⁠gas per year ‌for 15 ‍years ‍from Azerbaijan's Absheron field, ‍totaling 33 billion cubic meters, Bayraktar said. Deliveries via pipeline are set to begin in ⁠2029.

He added that final negotiations were concluded on Friday and that the agreement was expected to be signed shortly.


Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
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Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)

Saudi Arabia has approved its annual borrowing plan for the 2026 fiscal year, setting projected financing needs at about $58 billion as the Kingdom seeks to fund its budget deficit while maintaining long-term debt sustainability.

The plan was endorsed by Finance Minister Mohammed Al-Jadaan, who also chairs the board of the National Debt Management Center, following approval by the center’s board. It outlines key developments in public debt during 2025, initiatives to deepen the domestic debt market, and the financing strategy and guiding principles for 2026. It also includes the issuance calendar for the kingdom’s local riyal-denominated sukuk program for 2026.

According to the plan, total financing requirements for 2026 are estimated at around SAR 217 billion ($57.9 billion). These will be used to cover the projected budget deficit of about SAR 165 billion ($44 billion), as set out in the Ministry of Finance’s budget statement for the year, as well as the repayment of maturing debt principal amounting to roughly SAR 52 billion ($13.9 billion).

In a statement, the National Debt Management Center said the strategy prioritizes preserving public debt sustainability, expanding the investor base, and diversifying funding sources at home and abroad. This will be pursued through a combination of public and private channels, including the issuance of bonds and sukuk and the use of loans at competitive and reasonable costs.

The plan also points to an expanded use of alternative government financing tools, including project and infrastructure financing, and greater reliance on export credit agencies in 2026 and over the medium term. These measures will be implemented within carefully structured risk-management frameworks to support the Kingdom’s broader economic and fiscal objectives.