Aramco Wins Global Infrastructure Award

The company has made a technological revolution in the management of residential and commercial facilities and services at its main headquarters. (Aramco)
The company has made a technological revolution in the management of residential and commercial facilities and services at its main headquarters. (Aramco)
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Aramco Wins Global Infrastructure Award

The company has made a technological revolution in the management of residential and commercial facilities and services at its main headquarters. (Aramco)
The company has made a technological revolution in the management of residential and commercial facilities and services at its main headquarters. (Aramco)

Saudi Aramco has been recognized on the world stage for its adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology.

An awards event took place at the Smart City Expo World Congress on Wednesday in Barcelona.

The company's A'amer platform was granted the Infrastructure & Building Award for making a revolution in the management of residential and commercial facilities and services at Aramco’s main headquarters.

A'amer elevates urban living through integrated services across the city of Dhahran (eastern Saudi Arabia).

“We are thrilled to be recognized on the world stage for our work in smart city development, which is essential to meet the changing needs and expectations of urban communities,” said Talal Al Marri, Aramco Senior Vice President of Community Services.

“Our aim is to provide not only basic services like transportation and utilities but also a range of amenities and services that enhance people’s quality of life. As our understanding of cities evolves, so too must their infrastructure reflect an increasingly interconnected, technology-driven, and more sustainable way of living,” he added.

Nabil Al Nuaim, Aramco Senior Vice President of Digital and Information Technology, commented: “This award is a proud moment for us and a recognition of the positive impact we are making through the deployment of cutting-edge digital technologies, such as IoT and AI.”

“The A’amer platform is a prime example of how Aramco is harnessing the Fourth Industrial Revolution to positively shape its operations and enhance the lives of its employees, both inside and outside the workplace.”

A’amer optimizes building operations, space planning, and asset management across Aramco’s Dhahran facilities, using centralized data to predict, detect, and solve issues. It enables predictive, data-led maintenance and operation of all city services with an accessible, unified public service interface.

The platform provides substantial efficiency and sustainability-focused benefits, including annual savings of 1.7 billion gallons of water and 20.5GWh of annual energy. The platform has also resulted in a 31% increase in process optimization, a 40% increase in steps automation, and over a 30% increase in efficiency.



Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.