British-Saudi Sustainable Forum Focuses on Energy, Infrastructure Investments in Saudi Arabia

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
TT

British-Saudi Sustainable Forum Focuses on Energy, Infrastructure Investments in Saudi Arabia

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)

British investors at the British-Saudi Sustainable Infrastructure Summit in London expressed on Monday keen interest in investing in the renewable energy sector and sustainable infrastructure in the Kingdom of Saudi Arabia.

Their interests align with the Kingdom's Vision 2030 focus on leveraging renewable and green energy for major environmental and sustainability projects.

The forum was organized by the Saudi-British Business Council of the Federation of Saudi Chambers and the City of London Corporation. Taking part were representatives of the Ministry of Investment and over 250 policymakers, industry leaders, senior executives, and public and private sectors representatives from the two countries.

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. It also emphasized the importance of developing sustainable infrastructure projects, financing strategies, and the future of green technologies.

Saudi Arabia and Britain are witnessing growing economic ties, with trade volume reaching approximately SR25.7 billion, reflecting a 13.8% growth. Britain ranks 25th among the Kingdom’s export partners and 10th in terms of imports.



About 12% of Oil Production in Gulf of Mexico Shut-in

People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
TT

About 12% of Oil Production in Gulf of Mexico Shut-in

People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)
People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)

About 12% of current oil production and 6.04% of the current natural gas production in the Gulf of Mexico is shut-in due to storm Helene, the Bureau of Safety and Environmental Enforcement said in a statement on Saturday.

Authorities across the southeastern United States faced the daunting task on Saturday of cleaning up from Hurricane Helene, one of the most powerful and perhaps costliest to hit the country.

Damage estimates across the storm's rampage range between $95 billion and $110 billion, potentially making this one of the most expensive storms in modern US history, said chief meteorologist Jonathan Porter of AccuWeather, a commercial forecasting company.
Downgraded late on Friday to a post-tropical cyclone, the remnants of Helene continued to produce heavy rains across several states, sparking massive flooding that threatened to cause dam failures that could inundate entire towns.