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KSA: Mawani Initiatives Limit Rise in Commodity Prices

Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
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KSA: Mawani Initiatives Limit Rise in Commodity Prices

Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)

The measures and initiatives launched by the Saudi Ports Authority (Mawani) resulted in curbing the sharp rise in global shipping costs, thus limiting the increase of commodity prices that was registered globally following the Covid-19 pandemic.

Thanks to the initiatives launched by Mawani, the increase in commodity prices in the Kingdom was below international rates.

Logistics Specialist Nashmi Al-Harbi told Asharq Al-Awsat that the success of the economic plans could raise the Kingdom’s position in the global logistic performance index, and ensure huge flows in supply chains.

He underlined that Saudi ports were witnessing a significant growth in the number of ships and transshipments. This is a positive and motivating indicator for shipping companies and ship owners, who will put the Saudi ports on the master traffic plan, instead of some other ports, Al-Harbi said.

He added that the programs launched by Mawani were aligned with the goals of Saudi Vision 2030, which seek to transform the Kingdom into a global logistics platform.

The Saudi Ports Authority had implemented 17 qualitative initiatives in support of all beneficiaries of maritime transport services. Those programs contributed to achieving food security and a continued flow of goods and supply chains, in line with the objectives of the national strategy for transport and logistics services.

Moreover, Mawani has adopted a number of exceptional measures, including strengthening partnership with shipping lines, ensuring the efficiency of ship handling operations and facilitating and re-engineering the procedures for loading transshipment containers.

The authority worked on reviewing the obstacles facing shipping lines and finding the appropriate solutions, and organized a number of joint workshops with the private sector to discuss opportunities to support exporters and importers, with the aim of improving the customer experience, facilitating and simplifying procedures and increasing operational efficiency.

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Egypt Makes Progress in its Nuclear Energy Project

Construction work at the El-Dabaa nuclear power plant. (Egyptian Nuclear Power Plants Authority)
Construction work at the El-Dabaa nuclear power plant. (Egyptian Nuclear Power Plants Authority)
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Egypt Makes Progress in its Nuclear Energy Project

Construction work at the El-Dabaa nuclear power plant. (Egyptian Nuclear Power Plants Authority)
Construction work at the El-Dabaa nuclear power plant. (Egyptian Nuclear Power Plants Authority)

Egypt has reported significant progress in the construction of the El-Dabaa nuclear power plant in the country’s northwest, a project being developed in cooperation with Russia. The government announced on Tuesday that more than 20% of the project has been completed.

Egypt and Russia signed a cooperation agreement on November 19, 2015, to establish the nuclear power station at a cost of $25 billion, funded through a Russian government loan. The final agreements for El-Dabaa were signed in December 2017.

The plant will consist of four nuclear reactors with a total generation capacity of 4,800 megawatts, each producing 1,200 megawatts. The first reactor is scheduled to begin operations in 2028, with the remaining units coming online gradually as part of Egypt’s energy mix.

In its quarterly performance report, the Egyptian government stated that the project aligns with efforts to expand the peaceful use of nuclear energy within the national power grid.

President Abdel Fattah al-Sisi emphasized in November the importance of executing energy projects efficiently and on schedule, calling them a pillar of Egypt’s development strategy. He underscored the need to adhere to the project timeline while ensuring the highest standards of execution and workforce training.

Also in November, Prime Minister Mostafa Madbouly reaffirmed Egypt’s commitment to the project, stating that El-Dabaa would enhance renewable energy capacity and stabilize the national power grid.

In early March, Russia’s Atomstroyexport announced that construction on the second reactor at El-Dabaa had progressed ahead of schedule. According to the Egyptian Nuclear Power Plants Authority, the second tier of the inner containment structure had been installed at the reactor building.

Egypt experienced widespread power outages last summer, which ended in late July after securing sufficient fuel supplies for its power plants.

The El-Dabaa project is part of Egypt’s strategy to diversify its energy sources, generate electricity to meet domestic demand, and reduce reliance on imported gas and other fuels.

On Tuesday, the government also announced an additional 200 megawatts of private-sector solar power capacity as part of its efforts to expand renewable energy. Officials said the move would support energy diversification and advance the country’s sustainable development strategy.