Nusaned Investment opens new office in Riyadh
RIYADH, January 14, 2021 Nusaned Investment, a wholly-owned subsidiary of Sabic that operates as an autonomous investment company, inaugurated its new office building and launched a new brand identity at a ceremony at Riyadh Front on January 12. Inaugurating the new office and identity, Nusaned Investment Chairman and Sabic Vice Chairman & CEO Yousef Al-Benyan highlighted the company’s 2020 achievements and gave an overview of the roadmap for 2021. “Nusaned Investment was launched in 2018 to provide financial support to SMEs and increase local content through direct equity and mezzanine financing. Since its launch, it has secured approval and commitment for four deals with a total value of around SR42 million ($11 million) with local and foreign partners across diverse sectors including plastics, energy, construction products, industrial services and personal protective equipment,” Al-Benyan said.
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Thursday, 31 December, 2020 - 11:00
Nusaned signs strategic partnerships agreements and memoranda of understanding on Wednesday. (SPA) Riyadh - Asharq Al-Awsat
The Nusaned Council revealed that since its launch, it has graduated 106 investors qualified to start projects that will create 6,610 jobs and contribute more than SAR8.8 billion ($2.3 billion).
The Council, an initiative launched by the Saudi Basic Industries Corporation (SABIC) in 2018, celebrated on Wednesday the graduation of 43 new investors at the SABIC Plastic Applications Development Center (SPADC) in Riyadh.
It signed several strategic partnership agreements and memoranda of understanding to qualify and empower SMEs and create advanced commercial products.
The MoUs and partnerships are also aimed at bolstering cooperation with the Saudi business community and universities in the areas of sustainability and innovation and develop training and manufa
Updated 29 min 9 sec ago
March 25, 2021 10:24
DUBAI: Abu Dhabi National Oil Company (ADNOC) has deepened crude oil supply cuts to Asian customers in June to 15 percent from 5 percent in May, several sources with knowledge of the matter said on Thursday.
The supply reduction will apply to the four grades of crude that ADNOC sells to Asia, namely Murban, Das, Umm Lulu and Upper Zakum, they said.
The cuts are part of theUAE obligation under a pact between the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, to reduce output and balance global oil markets.
ADNOC’s June allocation comes ahead of the next OPEC+ meeting scheduled on April 1, where producers will decide on May supplies.