DUBAI: Emaar The Economic City has hired Saudi Fransi Capital to advise on a capital increase through the conversion of a SR2.83bn ($753 million) loan owed to the Public Investment Fund.
It comes after a tough year for the developer behind King Abdullah Economic City as the pandemic slowed major construction projects worldwide.
“The reason for the debt conversion is to improve the company’s liquidity and credit position and enhance its ability to achieve its growth objectives,” the developer said in a stock exchange filing on Thursday. “The capital increase will not result in any financial liability on or require any cash contribution by the company’s shareholders.”
York leads Saudi HVAC manufacturing for 20 Years
JEDDAH, Saudi Arabia, April 25, 2021 Al Salem Johnson Controls (York) has manufactured over 95,000 HVAC Units over the past 20 years, since the opening of its Jeddah York Factory in addition to designing and manufacturing the units’ corresponding control panels. The company also plans to carry on toward achieving the Made in Saudi Program’s goals, and to contribute to raising the Saudi non-oil exports from 16% to 50% by 2030, said Dr Mohanad AlShaikh, CEO of York. Dr. AlShaikh said that the Made in Saudi program is in line with Vision 2030, and will contribute to starting a new era for the Saudi industry, enabling and increasing the competitiveness of the national product locally, as well as increase production for export.
Khaled Abdulgader Tash is assistant director general for communications at the Saudi Arabian Airlines Corporation, the holding entity for Saudia airline, Flyadeal and several business units in the aviation industry. Before his latest appointment, he was vice president for corporate communication, with a mission to reposition the corporation in line with Vision 2030 and the
York leads Saudi HVAC manufacturing for 20 Years
JEDDAH, Saudi Arabia, 2 hours, 23 minutes ago Al Salem Johnson Controls (York) has manufactured over 95,000 HVAC Units over the past 20 years, since the opening of its Jeddah York Factory in addition to designing and manufacturing the units’ corresponding control panels. The company also plans to carry on toward achieving the Made in Saudi Program’s goals, and to contribute to raising the Saudi non-oil exports from 16% to 50% by 2030, said Dr Mohanad AlShaikh, CEO of York. Dr. AlShaikh said that the Made in Saudi program is in line with Vision 2030, and will contribute to starting a new era for the Saudi industry, enabling and increasing the competitiveness of the national product locally, as well as increase production for export.
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