King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
TT
20

King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz has provided SAR100 million to the Joodeskan platform, reported the Saudi Press Agency.

Joodeskan is under the supervision of the National Housing Development Association, which aims to support and help needy families in the housing sector.

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, made a contribution of SR50 million to the platform.



Saudi Arabia's ACWA Power to Buy Engie’s Share in Kuwait and Bahrain Assets 

The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
TT
20

Saudi Arabia's ACWA Power to Buy Engie’s Share in Kuwait and Bahrain Assets 

The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)

Saudi Arabia's ACWA Power plans to buy stakes in assets in Kuwait and Bahrain worth $693 million from French utility developer ENGIE, according to a joint statement on Wednesday.

The share purchase agreement covers operating capacities of 4.61 GW of gas-fired power generation and 1.11 million cubic meters per day (m3/day) of water desalination facilities, the companies said in a statement.

It also includes the related operations and maintenance companies in Kuwait and Bahrain, it added.

Completion of the transaction is subject to customary regulatory and other stakeholder approvals.