黑料社区

NMDC Energy, Baker Hughes sign deal to localize offshore solutions in 黑料社区聽

NMDC Energy, Baker Hughes sign deal to localize offshore solutions in 黑料社区聽
Baker Hughes will leverage NMDC Energy鈥檚 fabrication yard in Ras Al-Khair. NMDC
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Updated 1 min 7 sec ago

NMDC Energy, Baker Hughes sign deal to localize offshore solutions in 黑料社区聽

NMDC Energy, Baker Hughes sign deal to localize offshore solutions in 黑料社区聽

RIYADH: Abu Dhabi-based NMDC Energy has signed a memorandum of understanding with US energy technology firm Baker Hughes to localize offshore solutions in 黑料社区.聽

The collaboration aims to enhance the localization of offshore products and services in the Kingdom, serving energy markets across the Middle East, North Africa, Turkiye, and India region, according to a company statement.聽

Under the agreement, Baker Hughes will leverage NMDC Energy鈥檚 fabrication yard in Ras Al-Khair to produce and service offshore equipment, including an Emergency Pipeline Repair System project and a logistics base for flexible pipeline systems.聽

This latest collaboration follows a separate agreement signed between NMDC Energy and Baker Hughes during the ADIPEC 2025 conference in Abu Dhabi to explore opportunities in localizing selected gas technology products across the MENATI region.聽

During the conference, NMDC Energy also partnered with several international and regional players to expand its engineering, procurement, and construction services to meet rising sector demand.聽

Ahmed Al-Dhaheri, CEO of NMDC Energy, said: 鈥淎s a strategic enabler of 黑料社区鈥檚 energy sector through global partnerships, NMDC Energy is committed to finding new pathways toward increased localization in the Kingdom, supporting economic growth, job creation, and diversification.鈥澛

He added: 鈥淣MDC Energy鈥檚 fabrication capabilities have drawn global players, particularly leading entities such as Baker Hughes, who share our vision of finding synergies that meet the evolving energy sector demands in the Kingdom and the wider MENATI region.鈥澛

Earlier this year, NMDC Energy inaugurated its advanced fabrication facilities in Ras Al-Khair, 黑料社区, located within the Ras Al-Khair Special Economic Zone.聽

The 400,000-sq.-meter fabrication yard is designed to serve both offshore and onshore projects, with an annual production capacity of 40,000 tons.聽

Equipped with advanced automation and digital systems, the facility offers comprehensive fabrication, rigging, maintenance, and modularization services for complex energy infrastructure.聽

NMDC Energy is majority-owned by NMDC Group. With over 50 years of experience, the company has executed more than 1,200 projects and provides end-to-end solutions, including engineering, procurement, pipe laying, project management, fabrication, installation, and commissioning.聽


PIF-owned Al Balad Development unveils $3.6bn plan to develop Historic Jeddah聽

PIF-owned Al Balad Development unveils $3.6bn plan to develop Historic Jeddah聽
Updated 18 sec ago

PIF-owned Al Balad Development unveils $3.6bn plan to develop Historic Jeddah聽

PIF-owned Al Balad Development unveils $3.6bn plan to develop Historic Jeddah聽

RIYADH: 黑料社区鈥檚 Al Balad Development Co., a unit of the Public Investment Fund, has announced a $3.6 billion (SR13.5 billion) investment portfolio to transform the hospitality landscape in Jeddah鈥檚 historic district. 

The company said the initiative will see the rehabilitation and development of heritage hospitality assets across Historic Jeddah 鈥 known as Al Balad 鈥 with the goal of creating more than 3,300 hotel units, according to an announcement on X. 

The initiative forms part of 黑料社区鈥檚 broader economic diversification strategy under Vision 2030, which aims to expand non-oil sectors such as tourism, culture, and hospitality while enhancing the Kingdom鈥檚 global appeal as a heritage and travel destination. 

In a post on X, the company stated: 鈥淎l Balad Development Co. launches a $3.6 billion investment portfolio to develop hospitality assets in Historic Jeddah, including the rehabilitation and development of a group of hospitality properties in the district.鈥 

The initiative includes plans to build hotel units across multiple categories 鈥 comprising 325 luxury rooms, 758 upper-upscale rooms, 664 upscale rooms, 1,246 mid-scale rooms, and 422 hotel apartments. 

Implementation of these projects will begin in 2025 and continue through 2038. 

Established in 2023, Al Balad Development Co. serves as the heritage-focused master developer and asset manager for the Jeddah Historical District. 

The company said the projects will be implemented through various funding models, including investment funds, public-private partnerships, and build-operate-transfer contracts.