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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Iranian government earmarks $462 million for rail expansion

              Financial Tribune

              January 20, 2017
              in Infrastructure
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              The government has earmarked 18.5 trillion rials (over $462 million at market exchange rate) to complete a set of ongoing rail projects, the Construction and Development of Transportation Infrastructure Company's board member said.

              “This includes 4.7 trillion rials ($117 million) for land-ownership and procurement of equipment, as well as 13.8 trillion rials ($345 million) worth of participation bonds,” Jabbar Ali Zakeri was quoted as saying by IRNA.

              According to the official, the resources will help Iran push ahead with the construction of five rail projects, including Tehran-Saveh-Hamedan, Mianeh-Bostanabad, Maragheh-Urmia, Qazvin-Rasht and the so-called Gharb (west) rail projects.

              Rail expansion is a top priority in Iran’s sixth five-year development plan (2016-21), which is currently being reviewed in the parliament. Earlier this month, MPs approved a bill to allocate 1% of oil revenues to the rail sector as part of the Sixth Plan.

              The development plans outline government strategies in its budget planning for the next five years. The approval of the plan has already been delayed.

              The legislation requires the government to use the fixed share of oil-driven financial sources to implement new rail projects and develop existing ones, including double-tracking, electrification and construction of high-speed railroads.

              Despite a plunge in oil revenues, which account for the lion’s share of the government’s income, allocating a fixed share of petrodollars to the rail industry shows the government’s firm determination to expand the domestic rail sector.

              Iran has a long list of under-construction rail projects, as the country seeks to increase revenues from transit by becoming a transportation hub in the region.

              Deputy minister of roads and urban development, Kheirollah Khademi, earlier said the government is planning to “do away with the oil-dependent economy and turn to transit-driven economy”.

              Connectivity projects are preparing the grounds for a hike in rail freight transport.

              The Gharb rail project includes two routes, which will ultimately connect the city of Arak in central Markazi Province to Khosravi Border Crossing in the western Kermanshah Province, bordering Iraq.

              The first section of the route, from Arak to Kermanshah, has made 95% progress. Officials anticipate the inauguration as soon as rail tracks and other final components are supplied.

              As for Qazvin-Rasht project, despite the remarkable progress, the completion has been delayed by financial constraints. Its extension, from Rasht to Astara Port, close to Azerbaijan’s border, requires $500 million in investment by Azerbaijan. The railroad is part of a grand global transit project called International North-South Transport Corridor, which is aimed at connecting India to Europe via Iran, Azerbaijan and Russia.

              According to Islamic Republic of Iran Railways, Iran plans to add 1,000 kilometers of new railroads to its network in the near future. This indicates a significant rise in rail construction, compared to an average of 200 kilometers constructed annually over the past few years.

              Based on the Sixth Plan, the existing railroads are to be electrified and double-tracked, while 1,500 km of new lines need to be constructed.

              The parliamentarians have also tasked the government with increasing the share of rail in cargo and passenger transportation to a minimum of 30% and 20% respectively by the end of the Sixth Plan (2021).

              FDI Integral to Expansion Plans
              The state-provided capital will complement a larger amount of capital supplied by foreign investors to help the government realize its ambitions in the rail sector.

              Iranian railroads have seen little development in the past decade, due largely to sanctions imposed over Iran’s nuclear program.

              With the embargoes having been lifted early last year as part of a deal signed in 2015 between Tehran and world powers, the administration hopes to be able to cash in on FDIs to compensate for years of underdevelopment.

              Director general of IRIR’s International Affairs Office, Abbas Nazari, said the government has defined $10 billion worth of FDI projects following the implementation of the nuclear deal.

              These include high-speed rail routes of Qom-Arak and Tehran-Isfahan, and electrification of Garmsar-Incheh Borun and Tehran-Mashhad lines.

              Iran has been in talks with Italy, Russia, China, India, France, Turkey and Germany to attract the needed foreign capital, according to the official.

              Italy has reportedly agreed to invest an aggregate of $4 billion; Russia will provide €1.2 billion for the Garmsar-Incheh Borun route and India is supplying rails worth $175 million for a route from southern port and special economic zone of Chabahar to the city of Zahedan, both in Sistan-Baluchestan Province.

              Germany has also signed several agreements to invest in the manufacture of equipment in Iran.

              Early October, Siemens signed a contract to supply components for 50 diesel-electric locomotives to Iran.

              Under the contract, signed with Iranian power and infrastructure group MAPNA during an official visit of German Economy Minister Sigmar Gabriel to Iran, Siemens agreed to deliver the components, which will be assembled in Karaj, Iran's fourth-largest city.

              Another agreement was also signed between the two companies to jointly manufacture 70 electric locomotives to be used in the 926-km Tehran-Mashhad railroad.

              Siemens has not disclosed the value of the contract. Based on comparable deals, the order could be worth a low triple-digit million euro, according to Reuters.

              The details of those deals were also discussed in a meeting between Minister of Roads and Urban Development Abbas Akhoundi and Germany’s Federal Minister of Transport and Digital Infrastructure Alexander Dobrindt.

              Both sides signed a memorandum of understanding to expand cooperation in rail, air and marine transport.
              Financial Tribune
              19 January

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