Saudi energy deals bring $2.1bn pipe plant, $2.2bn...

Summary

• Saudi energy deals signed this week will bring a $2.1 billion pipe factory and a $2.2 billion power plant expansion, led by Chinese and Egyptian firms.
• Saudi energy deals back local industryThe Dalipal site will span roughly 1.03 million square metres inside the industrial park.
• Such Saudi energy deals support the National Industrial Strategy, which seeks to double industrial output and lift exports sharply by 2030.

AI Generated Summary

Saudi energy deals signed this week will bring a $2.1 billion pipe factory and a $2.2 billion power plant expansion, led by Chinese and Egyptian firms.

First, China’s Dalipal Holdings agreed a 25-year land lease with King Salman Energy Park (SPARK). It plans to invest about $2.1 billion in a modern factory for energy equipment there. The site gives the firm access to utilities, logistics and major energy markets in the kingdom.

Second, Egypt’s Elsewedy Electric teamed up with China’s Sinohydro on a $2.2 billion contract. The pair will enlarge the Rabigh 2 independent power plant.

Saudi energy deals back local industry

The Dalipal site will span roughly 1.03 million square metres inside the industrial park. Its first phase should cost about $600 million, the state news agency said.

A fully owned Dalipal unit will build and run the plant. Its production lines will turn out seamless well pipes for oil and gas, along with drill pipes and hydrogen pipelines.