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Saudia Technic CEO: We Aim for IPO before End of 2030

The company plans to triple the number of its mechanics and technicians over the next three years, in addition to expanding into new international markets. (Saudi Technic website)
The company plans to triple the number of its mechanics and technicians over the next three years, in addition to expanding into new international markets. (Saudi Technic website)
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Saudia Technic CEO: We Aim for IPO before End of 2030

The company plans to triple the number of its mechanics and technicians over the next three years, in addition to expanding into new international markets. (Saudi Technic website)
The company plans to triple the number of its mechanics and technicians over the next three years, in addition to expanding into new international markets. (Saudi Technic website)

The CEO of Saudia Technic, Fahd Cynndy, said that the company aims to offer public shares before the end of 2030.
Speaking on the sidelines of the Dubai Airshow, he noted that the company was planning an initial public offering (IPO) either in 2028 or 2029, explaining that the entity has no immediate plans to tap debt markets, Reuters reported.
“We have institutional investors that have committed a significant amount for the capability building... It covers our business plan up until the IPO target,” Cynndy said.
He added that Saudia Technic was planning a substantial expansion of its capabilities so that aircraft can be fully serviced within the Kingdom.
“We have just managed to secure worth of 5 billion riyals ($1.33 billion) to complete our maintenance repair and overhaul (MRO) village,” he was quoted by Reuters as saying, with phase one of the facility scheduled to open in August 2024.
The company plans to triple the number of its mechanics and technicians over the next three years, in addition to expanding into new international markets.
The Kingdom has witnessed a wave of IPOs in recent years, as a number of state-backed companies have listed their shares or are seeking to list as part of broader plans to deepen capital markets, develop the private sector, and attract investors.
Saudi Arabia has been massively spending on the aviation industry as it seeks to become a tourism and transportation hub, as part of far-reaching economic diversification objectives under Vision 2030.

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Saudi Arabia Calls for Global Water Cooperation to Advance Integrated Management

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
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Saudi Arabia Calls for Global Water Cooperation to Advance Integrated Management

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday with the participation of top scientists, experts, decision-makers from around the world.

Saudi Minister of Environment, Water and Agriculture Abdulrahman Alfadley, with the participation of World Water Council President Loïc Fauchon, inaugurated the official logo of the World Water Forum 2027.

In his remarks, Alfadley emphasized Saudi Arabia’s call for strengthened international cooperation and joint efforts among countries and organizations to tackle global water challenges. He underscored the importance of ensuring universal access to water and sanitation services as a key pillar in achieving Sustainable Development Goal 6 (SDG 6).

“Saudi Arabia prioritizes the water sector through various measures, including the adoption of a national strategy encompassing water production, storage, transportation, distribution, treatment, and reuse, all within a comprehensive institutional framework,” Alfadley added.

He further stated that the Kingdom has implemented Integrated Water Resources Management and enhanced supply chain governance. This is supported by the release of a long-term supply and demand plan that extends to 2050, alongside a commitment to environmental, social, and economic considerations in alignment with Saudi Vision 2030.

Highlighting the Kingdom's leading role in supporting regional and international water issues, Alfadley pointed to the launching of the Global Water Organization, aimed at fostering international collaboration, and the establishment of an International Water Research Center focused on water economics, water security, advanced technologies, and digital transformation.

Fauchon said the council, in collaboration with Saudi authorities, has developed a comprehensive framework outlining the thematic, regional, and political components that will shape the roadmap for the 11th edition of the forum that is being held in the Middle East for the first time.

He stressed the need to make water a top global priority, adding that this gathering will lay the foundation for future water policies. “The way ahead is still long, but we are confident we’re on the right path toward real solutions—solutions that can change lives,” he said.

Deputy Minister for Water at the Ministry of Environment, Water, and Agriculture Dr. Abdulaziz Alshaibani underscored the urgency of the current moment, describing the preparatory meeting as a call for serious and immediate action. Alshaibani emphasized the need to build upon existing progress in the water sector and to move decisively towards solidifying priorities.

He stressed the importance of greater coherence and integration across all sectors, along with the unification of all efforts, to achieve tangible solutions to global water challenges and to meet SDG 6. Alshaibani further noted that effective solutions must be anchored in several key pillars, including financing, innovation, diplomacy, and environmental considerations.

The World Water Forum 2027, organized by the World Water Council in Saudi Arabia, is a significant international platform for exchanging ideas and experiences in water management.