SPARK to Launch Organic Fertilization to Lock Humidity in Saudi Arabia’s Sands

A visualized scene of the King Salman Energy Park in eastern Saudi Arabia, which operates according to a policy of sustainability in energy and environment. In the frame, CEO Saif Al-Qahtani (Asharq Al-Awsat)
A visualized scene of the King Salman Energy Park in eastern Saudi Arabia, which operates according to a policy of sustainability in energy and environment. In the frame, CEO Saif Al-Qahtani (Asharq Al-Awsat)
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SPARK to Launch Organic Fertilization to Lock Humidity in Saudi Arabia’s Sands

A visualized scene of the King Salman Energy Park in eastern Saudi Arabia, which operates according to a policy of sustainability in energy and environment. In the frame, CEO Saif Al-Qahtani (Asharq Al-Awsat)
A visualized scene of the King Salman Energy Park in eastern Saudi Arabia, which operates according to a policy of sustainability in energy and environment. In the frame, CEO Saif Al-Qahtani (Asharq Al-Awsat)

With the launch of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, which will witness the holding of the largest regional gathering in support of the two Saudi initiatives - the Green Middle East and Green Saudi Arabia - the King Salman Energy Park (SPARK) is emerging as a sustainable global energy center in the east of the Kingdom, with the vision of becoming a regional gateway for logistics services in the energy sector.

In an interview with Asharq Al-Awsat, SPARK Chairman and CEO Saif Al-Qahtani revealed a number of initiatives and future plans to minimize environmental impacts and achieve maximum benefits from green investment, by providing world-class infrastructure in the refining, petrochemical, electric power and water production industries.

Integrated system

Al-Qahtani said that work was underway to develop an industrial zone, a business district, a residential and commercial district and a training zone, in addition to the dry port and logistics services area, which stretches over an area of 3 square kilometers and includes warehouses, modern storage facilities and a customs clearance area.

With the rapid progress of the mega project, the environmentally friendly and sustainable building techniques and advanced materials adopted by SPARK will ensure that the environmental impacts are minimized and the maximum benefit is achieved, by creating opportunities and reducing operational costs, according to the CEO.

He added that SPARK sought to provide world-class infrastructure for global investors in the crude oil and gas industries, refining, petrochemical industries, electric power and water production and treatment, pointing out that the project is expected to contribute $6 billion annually to the GDP by 2035.

Maximizing sustainability

Al-Qahtani noted that the project would witness the implementation of transformational initiatives and practices, based on sustainability in line with the objectives of the Green Saudi Initiative.

He stated that SPARK sought to become an industrial city that supports the circular carbon economy and achieve zero emissions by 2040. He cited the lighting of city streets with thousands of solar lamps, which are powered by vertical photovoltaic cells and lithium-ion batteries to store energy during the day.

SPARK is expected to become an international model city that facilitates the development of sustainable energy and environmentally-friendly technical solutions, he underlined.

Soil fertilization

Al-Qahtani disclosed efforts to rationalize water consumption, noting that most of the water is reused after treatment. He added that the rainwater drainage system was designed in proportion to the natural terrain surrounding the city, to eventually pour into a natural basin located on the outskirts of the project.
Al-Qahtani unveiled an experiment conducted by SPARK to fertilize the soil with the Liquid Nano Clay technology, an organic mixture that locks humidity and essential nutrients when sprayed on the arid desert sands, thus allowing plants to receive the much needed resources that are often scarce in this type of soil.

Investors’ flow

According to Al-Qahtani, SPARK provides an integrated and flexible business environment through its advanced infrastructure and world-class ICT systems that support the success of investors and the growth of their businesses.

SPARK is committed to helping investors meet environmental, social and corporate governance requirements and standards, he emphasized.

“As part of a leading global ecosystem at the heart of energy markets... SPARK’s design provides investors with an easy access to global markets, as the joint venture with Hutchison Ports will provide a fully automated, advanced logistics area supported by a world-class multimodal dry inland port, warehouses, and support services,” Al-Qahtani said.

“Through its advanced infrastructure, readiness and integration of services, SPARK aims to support all investors, and help them document their participation in the project at every step,” he added.

He noted that, during the past three years, the city was able to attract a large number of investors and partners, stressing that 40 major companies in the field of energy and technology have started investing in the project.

In the coming years, the total direct investment in King Salman Energy Park is expected to exceed $3 billion, the CEO said.

Presented projects

Al-Qahtani stated that SPARK would encompass the largest dry port in the region with a capacity of 10 million tons, with all the necessary services to facilitate exports and imports.

He added that the dry port would be managed and operated according to the highest international standards, under a partnership agreement with Hutchison Ports, a global port operator.

In addition, Al-Qahtani stressed that SPARK supported a number of national programs that aim to increase productivity in the labor market and create more employment opportunities.

He noted that partnerships and agreements have been concluded with national universities, such as King Faisal University and Prince Mohammad Bin Fahd University, in line with the values and principles of environmental responsibility and improving operational efficiency.

Sustainability practices

The CEO of SPARK indicated that the project would adopt integrated sustainability practices, and its master plan has been developed to attract local and international industrial investors.

He added that SPARK was working to create a world-class city with industrial, commercial and residential assets that will enable its community to function and live sustainably.

Moreover, Al-Qahtani revealed that the city has launched a number of initiatives that enhance its international efforts to lead sustainability in the energy sector, including the use of fiber-reinforced polymer rods in bridges, which is the first of its kind in the Middle East, as well as the use of green concrete, which replaces almost 30% of cement in concrete mixes with recycled asphalt residues, achieving the same results in terms of durability while reducing the carbon emissions.



Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
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Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)

Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition to the legislation from political parties, depositors and banking officials.

The draft law will be submitted to the country's divided parliament for approval before it can become effective.

The legislation, known as the "financial gap" law, is part of a series of reform measures required by the International Monetary Fund (IMF) in order to access funding from the lender.

The cabinet passed the draft bill with 13 ministers in favor and nine against. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis.

Prime Minister Nawaf Salam defended the bill, saying it "is not ideal... and may not meet everyone's aspirations" but is "a realistic and fair step on the path to restoring rights, stopping the collapse... and healing the banking sector.”

According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the six years that the crisis was left unaddressed.

Depositors who have less than $100,000 in the banks, and who constitute 85 percent of total accounts, will be able to recover them in full over a period of four years, Salam said.

Larger depositors will be able to obtain $100,000 while the remaining part of their funds will be compensated through tradable bonds, which will be backed by the assets of the central bank.

The central bank's portfolio includes approximately $50 billion, according to Salam.

The premier told journalists that the bill includes "accountability and oversight for the first time.”

"Everyone who transferred their money before the financial collapse in 2019 by exploiting their position or influence... and everyone who benefited from excessive profits or bonuses will be held accountable and required to pay compensation of up to 30 percent of these amounts," he said.

Responding to objections from banking officials, who claim components of the bill place a major burden on the banks, Salam said the law "also aims to revive the banking sector by assessing bank assets and recapitalizing them.”

The IMF, which closely monitored the drafting of the bill, previously insisted on the need to "restore the viability of the banking sector consistent with international standards" and protect small depositors.

Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

However, observers believe it is unlikely that parliament will pass the current bill before the next legislative elections in May.

Financial reforms in Lebanon have been repeatedly derailed by political and private interests over the last six years, but Salam and Lebanese President Joseph Aoun have pledged to prioritize them.


Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
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Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye's energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by ​Moscow's state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

Rosatom is building Türkiye's first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected ‌to be operational ‌this year, but has been ‌delayed.

"This (financing) ⁠will ​most ‌likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Alparslan Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

He said ⁠Türkiye was in talks with South Korea, China, Russia, and ‌the United States on ‍nuclear projects in ‍the Sinop province and Thrace region, and added ‍Ankara wanted to receive "the most competitive offer".

Bayraktar said Türkiye wanted to generate nuclear power at home and aimed to provide clear figures on targets.


China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
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China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)

China pledged on Friday to double down on upgrading its manufacturing base and ​promised capital to fund efforts targeting technological breakthroughs, after its industrial sector delivered an underwhelming performance this year.

China's industry ministry expects output of large industrial companies to have increased 5.9% in 2025 compared with 2024, state broadcaster CCTV said on Friday, almost unchanged from the 5.8% pace in 2024.

It would also be less than the ‌6% pace ‌of the first 11 months of ‌2025, ⁠based ​on ‌data released by the National Bureau of Statistics, as a weak Chinese economy suppressed domestic demand.

Industrial output, which covers industrial firms with annual revenue of at least 20 million yuan ($2.85 million), recorded growth of 4.8% in November, the weakest monthly year-on-year rise since August 2024.

Chinese policymakers have been looking ⁠to create new growth drivers in the economy by focusing on advancing ‌its industrial sector.

China has also vowed stronger ‍efforts to achieve technological self-reliance ‍amid intensifying rivalry with the United States over dominance ‍in advanced technology.

At the annual two-day national industrial work conference in Beijing that ended on Friday, officials pledged to deliver major breakthroughs in building a "modern industrial system" anchored by advanced manufacturing.

The ​focus will be on sectors such as integrated circuits, low-altitude economy, aerospace and biomedicine, an industry ministry ⁠statement showed.

The statement comes after China launched on Friday a national venture capital fund aimed at guiding billions of dollars of capital into "key hard technologies" such as quantum technology and brain-computer interfaces.

On artificial intelligence, the industry ministry said it will expand efforts to help small and medium-sized enterprises adopt the technology, while fostering new intelligent agents and AI-native companies in key industries.

Officials also vowed to "firmly curb" deflationary price wars, dubbed "involution", referring to excessive and low-return competition among ‌firms that erodes profits.