Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Saudi Arabia starts $3.4bn infrastructure projects in Tabuk region

  • The Tabuk region is currently the epicenter of quite some activity, like the building of a substation for the Green Duba power plant
  • Tabuk City also happens to be a hub for tourists who wish to explore the northern parts of Saudi Arabia

Saudi Arabia has announced several infrastructure and development projects in the Tabuk region of the country, according to local reports.

The total outlay of the projects is more than SR12.6 billion ($3.4 billion), said the local reports.

The projects will include initiatives related to housing, transportation, environment, and agriculture, the reports quoted Tabuk Governor Prince Fahd bin Sultan as saying.

He is also the chairman of the region’s Tourism Development Council.

Tabuk is currently the epicenter of quite a bit of activity, thanks in no little part to the substation of the Saudi Electricity Company’s Green Duba power plant having a substation there.

This substation is expected to linked the plant to the country’s power grid.

Tabuk City also happens to be a hub for tourists who wish to explore the northern parts of Saudi Arabia.

For example, the Dhat Al-Hajj fort that lies between the Halat Ammar Center and Tabuk city on the ancient Shami Hajj Road has for centuries been used by pilgrims bound for Mecca and Medina as a resting place.

The province is also known for heritage sites like the Hisma Mountains, and its islands and beaches.

With Saudi Arabia actively diversifying its economy to end its heavy dependence on oil, tourism is one sector it is focusing on.

The infrastructure projects in Tabuk could well be a push in that direction, as the country looks to recover from the economic setbacks of the Covid-19 pandemic and opens up to the world.