RIYADH: Mauritius will vote for Saudi Arabia to host Expo 2030 because it believes the Kingdom has the best capabilities among the candidate nations, according to the Mauritian minister in charge of of foreign affairs, regional integration and international trade.
Alan Ganoo, who is also the minister of land transport and light rail, told Arab News that the current hostilities between the other two candidates — Russia and Ukraine — plus the abilities the Kingdom demonstrated with its pavilion at Expo 2020 Dubai were leading factors in the decision.
“As you know, the decision will be made next year,” he said. “Nevertheless, we have been following the selection process and we have also been attentive to selecting the ideal candidate. We believe that such a global event should be made on the basis of certain principles, such as rotation and geography.
“Given the pertinence of the event in spearheading and in promoting economics, trade, tourism and people-to-people exchanges, it is important to us that the state should have the means and the capacity to make the event unique rather than being a usual exposition.”
Ganoo said that he had been impressed by the Saudi Pavilion at Expo 2020 and that this had contributed heavily to his country’s decision.
“We had a glimpse of what Saudi Arabia is capable of doing when we visited the Saudi Pavilion,” he added.
Following his visit to the pavilion, Ganoo conveyed his views in support of the Kingdom’s Expo 2030 bid to his country’s prime minister, Pravind Jugnauth, and his colleagues.
“I must also tell you that I’ve exchanged views on the Saudi candidacy with Saudi Arabia’s Minister of State for Foreign Affairs Adel Al-Jubeir,” he said.
“I informed him that Saudi Arabia has the best chance of all the candidates, especially if you consider the present world circumstances, such as the hostility between the two other candidates, Russia and Ukraine.”
Ganoo added that the Kingdom and Mauritius enjoy a close relationship and his country is exploring ways to increase the number of Saudi tourists after a decline in the number of visitors from Europe, which had been a major source of national revenue.
RIYADH: To develop Saudi Arabia’s second wind power generation project, the renewable energy team at the Energy Ministry is expected to issue a request for qualifications for the contract by the third quarter of 2022.
The Yanbu wind independent power project has a planned capacity of 850 megawatts, according to MEED.
Along with the hybrid concentrated solar power and the solar photovoltaic project in Hinakiyah, the Yanbu wind scheme makes up round 4 of Saudi Arabia’s National Renewable Energy Program.
RIYADH: Saudi Arabia’s Ministry of Commerce issued 5,319 commercial registers in the entertainment sector in 2022 so far, Al-Eqtisadiah reported.
It said 683 registers were issued for parks, while 1,351 for entertainment centers and 3,285 for event organizations.
The ministry noted that all registers are active.
Riyadh achieved the highest number of commercial registers, followed by Makkah and the Eastern Province.
RIYADH: The Dubai Electricity and Water Authority has launched the next phase of its 7 billion dirhams ($1.9 billion) smart grid strategy, covering the years 2021 to 2035, according to MEED.
The first phase of the state utility firm’s program from 2014 to 2035 has achieved its short-term goals, MEED reported citing DEWA.
Between 2015 and 2020, the firm has replaced electricity and water meters with smart meters. Over 2 million meters are automatically read.
Between 2015 and 2017, DEWA fully automated its transmission network connected to the 400 kilovolt and 132 kilovolt substations.
RIYADH: Algeria has cautioned that it will halt natural gas flows to Spain if it re-exports supplies as diplomatic tensions with Morocco escalate, according to Bloomberg.
This comes as the Spanish energy minister Teresa Ribera announced that Madrid will allow for gas flows to Morocco via the Maghreb-European pipeline, also known as MEG.
“We see the Algerian warning as a reminder that no Algerian gas should go to Morocco. We expect Morocco to announce a specific LNG contract in Spain with specific volumes, and this should hopefully address the concerns,” Bloomberg reported, citing analysts from investment banking firm JPMorgan Chase & Co.
Algeria poses as Europe’s largest supplier after Russia and Norway, providing as much as 8 percent of its gas imports.
On the other hand, Morocco is planning to purchase liquified natural gas and direct it to Spanish re-gasification terminals, to be later piped through the MEG pipeline, according to Morocco’s energy minister Leila Benali.
Since the MEG pipeline is owned by Moroccan, Spanish, and Portuguese firms, flows can be reversed without Algeria’s consent, according to Morocco.
RIYADH: Abu Dhabi’s real estate developer Aldar Properties is planning an initial public offering of three of its fully owned business divisions next year, the company’s CEO told Sky News Arabia.
Talal Al Dhiyebi said the company will potentially offer shares in its three core businesses – Aldar Education, Aldar Estates, and Aldar Hospitality and Leisure.
He revealed a long-term plan to invest 10 billion dirhams ($2.7 billion) in various sectors, with a particular focus on Saudi Arabian and Egyptian markets.
Aldar had earlier reported solid financial results during the first quarter of 2022, as the acquisition of Egypt’s SODIC last year gave it a strong boost.
During the last six months, the firm completed 5.5 billion dirhams worth of acquisition deals in Egypt and the UAE, the executive noted.