أرشيف industrial services | ByMENA https://bymena.com/tag/industrial-services/ News about technology, business, start ups, and entrepreneurship in the MENA region Tue, 27 Feb 2024 08:10:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://s3.eu-west-1.amazonaws.com/cdn.bymena.com/wp-content/uploads/2023/08/cropped-New-Project-32x32.png أرشيف industrial services | ByMENA https://bymena.com/tag/industrial-services/ 32 32 The number of factories in Saudi Arabia increased by 10%. https://bymena.com/the-number-factories-saudi-arabia-increased-10/ Tue, 27 Feb 2024 08:10:07 +0000 https://www.bymena.com/?p=38745 The number of licensed factories in the Kingdom increased by 1,379, a 10% increase over the last year. 11,549 factories were operating at the end of 2023 with a total investment of USD399 billion. The highest performing activities were Manufacturing, Food products, Non-metallic mineral products, Formed metal products and rubber and plastic products. The Ministry …

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  • The number of licensed factories in the Kingdom increased by 1,379, a 10% increase over the last year.
  • 11,549 factories were operating at the end of 2023 with a total investment of USD399 billion.
  • The highest performing activities were Manufacturing, Food products, Non-metallic mineral products, Formed metal products and rubber and plastic products.

    • The Ministry of Industry and Mineral Resources reported a 10 percent increase in industrial body units in Saudi Arabia, rising to 11,549 in 2023.

    Jarrah bin Mohammed Al-Jarrah, spokesman for the Minister of Industry and Mineral Resources stated:

    As per the statement by the spokesperson of the ministry, 11,549 factories have received new licenses for 25 industrial activities.

    The total estimated investment in these activities is SAR1.541 trillion (USD 399 billion).

    The top four activities that received licenses are food products manufacturing, non-metallic mineral products manufacturing, formed metal products manufacturing, and rubber and plastic products manufacturing.

    The highest number of industrial licenses totaling 1,043 were issued to National establishments.

    licenses were issued to joint and foreign investments 336 with 142 and 194 respectively.’

    The Ministry of Industry and Mineral Resources releases industrial indicating data monthly through the National Industrial and Mining information center.

    SMEs accounted for the overwhelming majority of the licenses issued accounting for the kingdom’s efforts to support rising businesses which totaled to:

    The number of licenses depending on enterprise size:

    • Micro-sized enterprises: 15 licenses.
    • Small-sized establishments: 1,203 licenses.
    • Medium-sized establishments: 158 licenses.
    • Large-sized establishments: 3 licenses.

    licenses per region:

    • Riyadh region: the region had the highest number of licenses issued at 479.
    • Eastern region: the second highest number of licenses issued at 340.
    • Makkah region: the second highest number of licenses issued at 269.
    • Qassim region: the fourth highest number of licenses issued at 87.
    • Madinah region: the least number of licenses issued at 79.

     

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    ]]>         SAUDI-BASED ENERGY CAPITAL GROUP CLOSES FIRST FUND OF $150 MILLION https://bymena.com/saudi-based-energy-capital-group-closes-first-fund-of-150-million/ Fri, 18 Aug 2023 12:17:46 +0000 https://www.bymena.com/?p=38202 Energy Capital Group (ECG), a Saudi-based  investment firm, has closed its first fund of $150 million, which will target the creation of energy leaders in the Kingdom of Saudi Arabia. The new fund was created through a merger of ECG and Cayan Holdings, with Riyadh-based Watar Partners advising the fund.  Anchored by Jada Fun of …

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    ]]>     Energy Capital Group (ECG), a Saudi-based  investment firm, has closed its first fund of $150 million, which will target the creation of energy leaders in the Kingdom of Saudi Arabia.

    The new fund was created through a merger of ECG and Cayan Holdings, with Riyadh-based Watar Partners advising the fund.  Anchored by Jada Fun of Funds, the fundraising effort aims to develop Saudi Arabia’s energy sector and industrial services, with a focus on furthering the industrial growth of Saudi Arabia as well as the Gulf Cooperation Council as a whole.

    Founded in 2008 by Ali Al-Turki, ECG has already closed over $5 billion worth of transactions, with significant investments in Saudi Arabia and the MENA region.

     

     

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