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BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

Aramco net income $28bn

Capital investment during Q3 2025 $12.9bn on investments in energy projects.

e& revenue up 23%

Consolidated net profit reached $2.94 billion during 2025.

Al Rajhi profit up 26%

Operating income for 2025 increased 22% to SAR 39 bn.

Emirates NBD 2025 profit $8.5bn

Total income rises by 12 percent, operating profit up 13%.

Aramco rebar facility opened

  • New corrosion-free material could support the kingdom in achieving its carbon neutrality targets.
  • Extreme temperatures and high levels of salinity make the kingdom one of the most corrosive environments for steel rebar.

DUBAI: Saudi Aramco has opened the kingdom’s first glass fiber-reinforced polymer (GFRP) rebar facility called IKK Mateenbar, which will manufacture and supply corrosion-free fiberglass rebar for infrastructure projects in the MENA region.

The facility was established under a memorandum of understanding signed in 2019 by New Zealand’s Pultron Composites, and its partner, Isam Khairy Kabbani Group (IKK), with Saudi Aramco.

Saudi Aramco recently mandated the use of GFRP rebar in its engineering standards for reinforced concrete structures in highly corrosive environments, enabling designers to replace steel rebar in these high-risk areas.

Extreme temperatures and high levels of salinity make the kingdom one of the most corrosive environments for steel rebar, causing early structural damage, resulting in the nation’s economy incurring high costs to replace and maintain unstable concrete infrastructure.

The launch of this facility comes as part of the Kingdom’s efforts to attract and localize the rebar industry, IKK said in a statement.

GFRP rebar is the latest technology for manufacturing fiberglass rebar in New Zealand and the United States of America. It is now manufactured locally in Saudi Arabia to build better and more durable infrastructure that supports the growth of the Kingdom’s economy and enriches the quality of its environment and society alike.

Saudi Aramco was the first to deploy the innovative technology of IKK Mateenbar in the construction of its 23-kilometer-long and 80-meter-wide Jizan Flood Mitigation Channel, which is the largest GFRP rebar project in the world.

It also used fiberglass rebar to construct a bridge at King Salman Energy Park (SPARK). This is the first bridge in the country and the only one of its kind in the MENA region to use the GFRP rebar.