Nusaned Investment Company and Banque Saudi Fransi signed a cooperation agreement to finance emerging small and mid-sized enterprises (SMEs) in which the company invests and in the companies that benefit from SABIC’s localization initiative, NUSANED ...
Nusaned Investment Company and Banque Saudi Fransi signed a cooperation agreement to finance emerging small and mid-sized enterprises (SMEs) in which the company invests and in the companies that benefit from SABIC’s localization initiative, NUSANED... Read Less
The agreement aims to promote local content and localization of mining services· It contributes to achieving the goals of Saudi Vision 2030 and NIDLP· It will help open doors to regional markets and finance future growth in the mining sector ...
· The agreement aims to promote local content and localization of mining services
· It contributes to achieving the goals of Saudi Vision 2030 and NIDLP
· It will help open doors to regional markets and finance future growth in the mining sector...
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Nusaned Investment™, an investment company fully owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment agreement with Saudi Pallet Manufacturing Company (SPMC) to promote the local production of plastic pallets. ...
Nusaned Investment™, an investment company fully owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment agreement with Saudi Pallet Manufacturing Company (SPMC) to promote the local production of plastic pallets. The agreement between Nusaned Investment™ in partnership with Nusaned Fund, managed by Albilad Capital, and SPMC will further strengthen the Company’s position, accelerate its product development, ramp-up production, and expand its product reach regionally and globally. The deal is expected to increase local content and exports in the logistics sector, support the circular economy and reinforce the KSA position in the regional and global logistics market. SPMC has been operating a manufacturing facility in Dammam since 2015 that produces plastic pallets using a cutting edge molding technologies. The pallets produced by SPMC serve the logistics industry in the Fast Moving Consumer Goods (FMCG). SPMC plans to serve the ever growing local market as well as expand its addressable markets to Europe and North America leveraging on the KSA’s geographical advantage and its fast growing industrial capabilities. The investment agreement exemplifies the partnership to promote innovative technology and utilize local resources support the efforts in realizing the objectives of the National Industrial Development and Logistics Program (NIDLP), the most impactful Saudi Vision 2030 Realization Program, to transform the Kingdom into a leading industrial powerhouse and a global logistics hub,” said Faisal Albahair, CEO, Nusaned Investment™, and Nusaned Fund Chairman. “The partnership with SABIC will enable SPMC to serve the Fast Moving Consumer Goods market by producing technologically advanced and patented multi-use plastic pallets from its manufacturing facility in Dammam, said Omar AlShawaf, CEO, SPMC. Read Less
Nusaned Investment™, an investment company) owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment agreement with Abdulaziz & Brothers Company (A&BC). A&BC will own and operate a manufacturing facility of Personal Protective Equipment (“PPE). ...
Nusaned Investment™, an investment company) owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment agreement with Abdulaziz & Brothers Company (A&BC). A&BC will own and operate a manufacturing facility of Personal Protective Equipment (“PPE). The deal between Nusaned Investment™, through Nusaned Fund managed by Albilad Capital, and A&BC will further strengthen the position of the company and accelerate its development as well as its regional and domestic outreach. A&BC is a new manufacturing facility located in Jubail specialized in producing PPE, specifically helmets, protective glasses and cut resistant gloves for the industrial and construction sectors. A&BC, which will be one of the first local producers of PPE in the Kingdom, has also entered into an agreement with a global leader in the PPE industry. As per the agreement, Nusaned Investment™, in addition to providing equity funding for the PPE project, will also offer tailored support under Nusaned’s umbrella including human resource support by assisting A&BC in attracting and hiring necessary talent and facilitate the training of new hires through the use of SABIC training programs. “The investment agreement is in line with Nusaned Investment™ guidelines and aligns with SABIC’s localization program as it presents a great import substitution opportunity in the personal protective equipment and high localization potential enabling one of the objectives of Saudi Vision 2030,” said Faisal Albahair, CEO, Nusaned Investment™. “The Saudi PPE market is valued at around SAR 1,46 billion with insufficient local production to meet the growing demand for helmets, gloves or glasses. This agreement will make a notable contribution to local content, serving the economic diversification objectives of the Kingdom,” said Fahad Alnaeem, CIO, Nusaned Investment™. The A&BC agreement is aligned strategically with both KSA and SABIC objectives to support local content and the National Industrial Development and Logistics Program’s ambitions of transforming the Kingdom into an export hub and promoting local content in the industrial sector... Read Less
Nusaned investment™, an investment company fully owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment deal with DarTec Engineering Consulting. ...
Nusaned investment™, an investment company fully owned by SABIC with a mandate to invest in industrial SMEs and increase local content in the Kingdom’s industrial sector, signed an investment deal with DarTec Engineering Consulting. DarTec, which was established in 2012, provides advanced reverse engineering services to important industrial organizations in KSA to enable mechanical spare part localization. The deal between Nusaned Investment™, through Nusaned Fund managed by Albilad Capital, and DarTec will further strengthen the position of the company and accelerate its development as well as its regional and domestic outreach. This new niche in the Saudi industrial space will get a boost and local content in the engineering services and spare parts market will increase with this agreement. It will also help satisfy the critical industrial spare parts demand by local suppliers and reach a state of self-sufficiency in key sectors like power plants, desalination, petrochemicals and defense. The first step toward digital transformation and adapting Industry 4.0 technologies is by converting physical assets into digital, as DarTec service offering includes reverse engineering, 3D scanning, laboratory management and spare part prototyping. “Investing in DarTec and partnering with such experienced founders fulfills Nusaned Investment’s mandate of investing in leading industrial SMEs in the Kingdom. The services of DarTec will help the industrial sector to localize spare parts supply chain, shorten lead time, reduce spare parts cost and develop local talent in new engineering sector,” said Faisal Al-Bahair, VP, Local Content & Business Development Unit and CEO of Nusaned Investment™. DarTec’s co-founders Eng. Ayman AlNouri and Dr. Hashim AlZain said, “DarTec Engineering looks forward to working with existing and emerging local manufacturing facilities to maximize the utilization of their assets, which will grow into becoming the engine that would transition the Kingdom from a consumer-based economy to a knowledge-based one by 2030”. ABOUT NUSANED INVESTMENT™ Nusaned Investment™ is an investment company based in Riyadh, Saudi Arabia and owned by SABIC with a mandate to increase local content in the Kingdom. Nusaned Investment™ invests alongside the investors in localizing mature technologies and pioneering emerging technologies in the Kingdom. It prioritizes economic development and strategic benefit for KSA, in addition to supporting and enabling the execution of KSA’s National Industrial Strategy (NIS)... Read Less
Nusaned Investment™, owned by SABIC with a mandate to invest in industrial SMEs to increase local content in the Kingdom, signed a deal with Suhul Alkhalej for Industrial Development and Investment Company (Suhul Alkhalej). The new venture will own and operate a factory to manufacture wood-plastic composite (WPC) profiles for decking and cladding, WPC sheets, WPC doors and unplasticized polyvinyl ...
Nusaned Investment™, owned by SABIC with a mandate to invest in industrial SMEs to increase local content in the Kingdom, signed a deal with Suhul Alkhalej for Industrial Development and Investment Company (Suhul Alkhalej). The new venture will own and operate a factory to manufacture wood-plastic composite (WPC) profiles for decking and cladding, WPC sheets, WPC doors and unplasticized polyvinyl chloride (uPVC) profiles for windows and doors. The deal between Nusaned Investment, through Nusaned Fund managed by Albilad Capital, and Suhul Alkhalej factory will use eco-friendly compounds using SABIC raw materials, making the products more energy efficient than the traditional construction materials delivering Chemistry that Matters™. “The new venture fulfills Nusaned Investment™’s mandate of investing in industrial SMEs in the Kingdom. It contributes to local content initiatives and business growth through export opportunities, all of which serve the economic diversification objectives of Saudi Vision 2030,” said Faisal Al-Bahair, VP, Local Content & Business Development Unit and CEO of Nusaned Investment™. “The venture will be using polymers products as raw materials promoting sustainability and downstream initiatives. The manufactured products are also a good fit to SABIC’s Home of innovation™ portfolio,” he added. This is the second transaction of Nusaned Investment™, as Nusaned Investment™ and SCHMID Group in June 2020 announced their successful JV transaction focusing on manufacturing and technology development in the field of Vanadium Redox Flow Batteries (VRFB) after receiving all required regulatory approvals and satisfying all closing conditions. The agreement to establish the Advance Energy Storage System Investment Company, the JV, was signed and announced in May 2019. ABOUT NUSANED INVESTMENT™ Nusaned Investment™ is an investment company based in Riyadh, Saudi Arabia and owned by SABIC with a mandate to increase local content in the Kingdom. Nusaned Investment invests alongside the investors in localizing mature technologies and pioneering emerging technologies in the Kingdom. Nusaned Investment prioritizes economic development and strategic benefit for KSA, in addition to supporting and enabling the execution of KSA’s National Industrial Strategy (NIS)... Read Less
Nusaned Investment (an investment company owned by SABIC) and SCHMID Group announced today that they have successfully closed their JV transaction focusing on manufacturing and technology development in the field of Vanadium Redox Flow Batteries (VRFB) after receiving all required regulatory approvals and satisfying all closing conditions. The agreement to establish (Advance Energy Storage System) ...
Nusaned Investment (an investment company owned by SABIC) and SCHMID Group announced today that they have successfully closed their JV transaction focusing on manufacturing and technology development in the field of Vanadium Redox Flow Batteries (VRFB) after receiving all required regulatory approvals and satisfying all closing conditions. The agreement to establish (Advance Energy Storage System Investment Company) (the “JV”) was signed and announced in May 2019. During the next 2 to 3 months, The Riwaq Industrial Development Company will join the JV as additional investors and shareholders. The JV aims to become a global technology leader and champion in the fast-growing utility-scale energy storage segment, supporting the Kingdom’s Vision 2030 economic diversification objectives. With R&D facilities in Germany and Saudi Arabia, the JV plans to set-up a GW scale manufacturing facility in the Kingdom, expected to be in production in 2021. The JV’s strategy for developing value chain integrated production will allow it to achieve global cost leadership. Fuad Mosa, CEO of Nusaned Investment said: “The closing marks a milestone for Saudi Arabia in its quest to localize manufacturing for technologies in emerging industries”. Christian Schmid, CEO of the Schmid Group said: “The new JV will aim to establish a leadership position in the rapidly developing energy storage market and both companies are fully committed to realizing our joint vision for the project.” The JV will produce energy storage systems for use alongside utility-scale renewables projects, telecom towers, mining sites, remote cities and off-grid locations. The systems will be utilized for renewables capacity grid integration, establishment of mini grids at remote locations, optimization of diesel generator capacity, and power back-up. The JV’s products will be offered under the EVERFLOW brand. The JV will directly contribute to the Kingdom’s renewable ambitions. As per the new energy mix announced this year, Saudi Arabia will aim to install 57.5 GW of renewable capacity in the Kingdom by 2030. Utility-scale stationary energy storage systems will be critical to ensure that the new renewable capacity is stabilized and connected reliably to the grid. The Kingdom could also leverage this technology in the upcoming mega-projects in the Kingdom. The proposed manufacturing facility and R&D center is going to be developed in Dammam 3rd Industrial City. The facility will be built under a Build-to-Suit lease agreement with MODON. The project site has been identified and construction is expected to start in the first half of 2020. The facility will have an annual production capacity of 3 GWh and will be among the biggest Flow Batteries production facilities worldwide. Nusaned Investment is an investment company based in Riyadh, Saudi Arabia and owned by SABIC with a mandate to increase local content in the Kingdom. Nusaned Investment invests alongside the investors in localizing mature technologies and pioneering emerging technologies in the Kingdom. Nusaned Investment prioritizes economic development and strategic benefit for KSA, in addition to supporting and enabling the execution of KSA’s National Industrial Strategy (NIS). Schmid Group is a technology group based in Freudenstadt, Germany. Founded in 1864, the group of companies employs more than 900 staff members worldwide and has technology centres and manufacturing sites in Germany, China, Turkey and the USA in addition to several sales and service locations worldwide. The group focuses on developing customized equipment and process solutions for multiple industries including Electronics, Renewables and Energy Storage. The Riwaq industrial development company is a developer and investor in industrial projects focusing on advance technologies in the sector of renewable energy , recycling , chemical & metal processing and mining projects... Read Less
