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Kuwait's al-Zour Refinery Now Fully Operational, KIPIC Says

Kuwait's al-Zour Refinery Now Fully Operational, KIPIC Says
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Kuwait's al-Zour Refinery Now Fully Operational, KIPIC Says

Kuwait's al-Zour Refinery Now Fully Operational, KIPIC Says

Kuwait Integrated Petroleum Industries Company (KIPIC) said in a statement on Sunday that the third and final units at the al-Zour refinery are now operational.

The plant is now fully operational and refining capacity will increase to 615,000 barrels per day (bpd) from 410,000 bpd, the statement said.

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Saudi Arabia Allows Foreigners to Invest in Firms with Property in Makkah, Madinah

The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both. SPA
The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both. SPA
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Saudi Arabia Allows Foreigners to Invest in Firms with Property in Makkah, Madinah

The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both. SPA
The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both. SPA

Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of Makkah and Madinah.

Saudi Arabia's market watchdog, the Capital Market Authority (CMA), said in a statement the move aimed to attract foreign capital and provide liquidity for present and future projects in the two cities.

The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both, and would exclude "strategic foreign investors.”

It added that people without Saudi nationality would not be allowed to own more than 49% of shares of the firms involved.

In 2021, it allowed non-Saudis to subscribe to real estate funds investing within the boundaries of Makkah and Madinah.