Saudi Arabia Opens Middle East’s Largest Water Desalination Membrane Plant

Prince Saud bin Nayef bin Abdulaziz inaugurates the project at a ceremony in the Eastern Province (Asharq Al-Awsat)
Prince Saud bin Nayef bin Abdulaziz inaugurates the project at a ceremony in the Eastern Province (Asharq Al-Awsat)
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Saudi Arabia Opens Middle East’s Largest Water Desalination Membrane Plant

Prince Saud bin Nayef bin Abdulaziz inaugurates the project at a ceremony in the Eastern Province (Asharq Al-Awsat)
Prince Saud bin Nayef bin Abdulaziz inaugurates the project at a ceremony in the Eastern Province (Asharq Al-Awsat)

Eastern Province Governor Prince Saud bin Nayef bin Abdulaziz on Wednesday inaugurated the Toray Membrane Middle East Factory in Dammam’s Third Industrial City, the largest facility for water desalination membrane technologies in the Middle East.

The ceremony was attended by the Minister of Environment, Water and Agriculture Eng.Abdulrahman Alfadley , President of the Saudi Water Authority (SWA) Eng. Abdullah bin Ibrahim Al-Abdulkarim, CEO of the Local Content and Government Procurement Authority Abdulrahman bin Abdullah Al-Samari, and several senior officials from the public and private sectors.

Prince Saud said the launch of the new factory reflects the government’s strong commitment to localizing advanced industries and strengthening Saudi Arabia’s presence in high-tech sectors.

He added that the project marks a key step toward achieving industrial self-sufficiency and transferring advanced knowledge and technologies to national talent.

He noted that the water and industrial sectors continue to receive substantial attention from the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince and Prime Minister Mohammed bin Salman, through enabling high-value investments and fostering an environment conducive to innovation.

The governor said the Eastern Province, with its advanced infrastructure and strong industrial base, will remain a key driver in achieving Saudi Arabia’s economic and industrial development goals under Vision 2030.

The new factory is a joint venture between Abunayyan Holding and Japan’s Toray Industries, with an investment exceeding 1 billion riyals.

It is Toray’s second plant of its kind outside Japan and has a production capacity of 300,000 membranes annually. The facility will provide more than 175 jobs for Saudis, with a localization rate of 70 %, targeted to reach a minimum of 75 %.

The plant is expected to position the Kingdom as a regional hub for membrane and desalination technologies through six integrated production lines that meet local and Gulf market demand, enhance the competitiveness of national industries, and strengthen Saudi Arabia’s standing as a global source for advanced water technologies.

The project aims to localize the production of reverse osmosis membranes used in water desalination, transfer advanced technologies to support Saudi Arabia’s water and industrial security, and help achieve the objectives of Vision 2030.

It also seeks to boost local content and improve the efficiency of national supply chains by localizing 72 % of manufacturing inputs, cutting supply times by 53 %, and reducing energy consumption by 4 to 5 %. The project is expected to improve the trade balance by more than 135 million riyals annually and contribute around 1.14 billion riyals to the national economy over eight years.

SWA President Al-Abdulkarim said the project represents a leading example of integration between the water and industrial sectors in achieving economic and water sustainability goals.

He added that the factory is a cornerstone in localizing advanced desalination technologies and enhancing the Kingdom’s capacity to lead the global water sector through innovation and development of supporting industries.

For his part, Al-Samari said the factory’s inauguration follows an agreement to localize the reverse osmosis membrane industry signed between his authority, the Saudi Water Authority, and Toray Membrane Middle East.

He noted that the factory is one of the key projects contributing to raising local content in the water and industrial sectors, with a production capacity of 300,000 membranes annually covering all manufacturing stages.

Khaled Abunayyan, Chairman of Toray Membrane Middle East, affirmed the company’s commitment to knowledge transfer and developing local talent through a dedicated research and development unit in cooperation with the Research and Development Center for Advanced Technologies.

The unit aims to design the next generation of membranes that improve energy efficiency, enhance environmental resilience, and extend product lifespan.



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
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Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
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India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.