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#1191
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Nespresso launches Crealto in Kingdom
Nespresso, one of the pioneers for the highest quality portioned premium coffee, launched recently “Crealto” – a long roast Limited Edition Grand Cru. With Crealto, Nespresso continues to set precedents in coffee culture, bringing together the worlds of premium coffee and high gastronomy like never before. The launch was attended by the president Saudi Chefs Association Yasser Jad and thegeneral manager of Nespresso Rafat Al Azzeh. The name Crealto stems from the combination of “Creature” and “Alto”, in reference to alta cucina, which means high gastronomy. The Crealto blend was developed using 100 percent washed Arabica coffees from South and Central America and Indonesia that can withstand long roasting without becoming over-roasted. The beans were simmered three times longer than the average Nespresso roasting times to extract aromas and flavors harmoniously and to the fullest. Crealto comes sealed in a white capsule with brown streaks reminiscent of the way chefs decorate their creations. With an intensity of 8 on a scale from 1 to 10, Crealto has round, roasted notes that linger on the palate, revealing nutty aromas when enjoyed with milk. Nespresso Green Coffee Specialist Alexis Rodriquez was inspired by Michelin-starred chef Mauro Colagreco’s application of long-roasting techniques at low temperatures. Uniting the creative strengths of both areas of expertise, Crealto reveals roasted notes that are surprisingly round with a lingering finish, achieved by a long roasting method by Nespresso. Colagreco is the first chef to be actively involved in the development of a Nespresso Limited Edition coffee. Source: Saudi Gazette
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#1192
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Zamil Air conditionars bags AHRI certification
Zamil Air Conditioners, a subsidiary of Zamil Industrial Investment Company (Zamil Industrial) and the leading manufacturer and service provider of air conditioning systems in the Middle East, has recently earned the trusted AHRI Certified mark, an assurance of the product’s performance in accordance with AHRI standards. The Air Conditioning, Heating and Refrigeration Institute (AHRI) granted the AHRI 550/590 certification to the company upon successfully passing the performance tests. The Institute has added Zamil Air Conditioners to the Water Chilling Packages using the Vapor Compression Cycle (Air-Cooled) Certification Program as an Original Equipment Manufacturer (OEM). AHRI Certified is the trusted mark of performance assurance for heating, air conditioning, water heating, and commercial refrigeration equipment. Products earning the mark undergo rigorous, independent annual evaluation to ensure that they perform according to the manufacturers’ published claims. Certifying equipment and component performance allows consumers to compare products based on independently verified performance ratings. To find AHRI Certified products, go to www.ahridirectory.org. Source: Saudi Gazette
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#1193
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Saudi Ports Authority signs SR 1,6bn projects in 2012
The Saudi Ports Authority (SPA) signed SR 1.6 billion in contracts for construction and development projects in various seaports in the Kingdom in 2012. The projects include construction of a power generating plant at the King Abdul Aziz Port in Dammam, a container wharf at the Dhuba Port, two container wharves in the King Fahd Industrial Port in Yanbu, and a passenger and services wharf at the Yanbu Commercial Port besides a huge multistory car park at the Jeddah Islamic Port. +-* The contracts also include preparation of master plans for the Dammam King Abdul Aziz port and commercial ports in Jubail, Jazan, Dhuba and Yanbu. The SPA also offers investment opportunities to the private sector in sea ports such as the operation of container terminals, dry docks and the building of ships, barges, sea platforms and the manufacture of fishing and pleasure boats and support services including running commercial markets, restaurants, post offices and tourist and visitor services, the Saudi Press Agency reported. The SPA, which was established in 1976, undertakes development and administration of the Kingdom's seaports. It has nine major seaports with 206 wharves from which 95 percent of the nonoil exports of the Kingdom are undertaken. The ports are fully equipped to cope with the growing requirements of the rapidly expanding economic developments in the Kingdom. The ports are also marked for their friendly environment for foreign and domestic investments. The government has spent more than SR 40 billion for the infrastructure and expansion of ports with the most advanced technology in the past few years. With a government order in 1997 the Kingdom's ports were opened to private sector participation in administrative and operational areas. The private sector, which invested SR 5.5 billion to install the most modern machinery and services, were allowed to hire wharves and other facilities on long-term leases. The King Fahd Industrial Port in Jubail has been built to serve the needs of the new industrial city in that area with 2,400-meter-long berths that can accommodate four tankers of 300,000 metric tons. It has become one of the largest in the world as it handles 90 percent of the exports of refined Saudi petroleum products and petrochemicals, in addition to the needs of the other industries in the city such as the import of raw materials and export of finished products. Out of the 25 wharves in the port, four can receive huge oil tankers. The King Fahd Industrial Port in Yanbu is the largest crude oil port on the Red Sea and the longest linear port in the Middle East. The newest seaport in the Kingdom is the SR 2.4 billion Ras Al-Khair port, 80 km north of Jubail Industrial city and commissioned in 2008. The ports in Ras Tanura and Al-Khafji are exclusively for the export of oil on the eastern cost and are operated by Saudi Aramco Source: Arab News
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#1194
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Saudi GDP exceeds SR 2.2 trillion
Saudi Arabia's gross domestic product exceeded SR 2.2 trillion in 2011, registering a growth rate of 31 percent in current prices, compared to the previous year, the General Statistics Department reported yesterday. "During the same year, the private sector GDP grew by 14.7 percent," the department said in a report released on the National Day. Nonoil exports rose 31 percent to SR 176 billion, which accounted for eight percent of the GDP, the report added. The Kingdom's total exports in 2011 amounted to more than SR 1.41 trillion, the department said while highlighting Saudi Arabia's remarkable economic progress. The number of working Saudis within the age limit of 15-65 would reach 61.2 percent by the end of this year, against 47 percent in 1992, the report pointed out. Saudis within the age group of 20-40 would reach 66.4 percent of the total national workforce this year, it added. The report highlighted the Kingdom's unprecedented progress under the leadership of Custodian of the Two Holy Mosques King Abdullah, making Saudi Arabia a member of G20 and a leading player on the world stage. According to preliminary reports, the Kingdom's GDP grew 5.94 percent in the first quarter of 2012. "Preliminary information shows GDP in the first quarter of 2012 grew by 15.96 percent in current prices with its value reaching SR 612.295 billion against SR 528.002 billion during the same period in 2011," the report said, adding the growth was 5.94 percent in real prices. The public sector GDP rose by 0.17 percent to SR 89.198 billion in current prices compared to SR 89.048 billion last year, the quarterly report said. In real prices it rose by 4.24 percent. The private sector GDP grew by 10.52 percent in the first quarter with a value of SR 162.77 billion compared to SR 147.28 billion the previous year. In real prices, the growth was 6.33 percent. The oil sector showed a record growth rate of 23.73 percent in current prices with a value of SR 356.51 billion compared to SR 288.13 billion the previous year, but in real prices the growth was 7.17 percent, the department pointed out Source: Arab News
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#1195
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Saudi Arabia aims to privatize electricity sector by 2014 as demand increases
Saudi Arabia aims to liberalize its power industry beginning with the privatization of the electricity sector by 2014, experts attending the MEED Saudi Mega Infrastructure Projects Summit have said. The privatization move aims to create a competitive market for electricity generation in Saudi Arabia, where at present the Saudi Electricity Company ( SEC ), which is majority owned by the government, generates, transfers and distributes electricity on a national basis. The restructuring will involve dividing SEC 's electricity generation business into similar companies that will compete with each other and SEC 's independent power providers (IPPs). The SEC will also set up a single buyer of electricity from the four electricity generation companies and the IPPs. A single separate transmission company has already been established and has been in operation since January 2012. "We are working now at establishing four generation companies and one distribution company by 2014," said Amer Al-Swaha, head of SEC 's IPP program said. "The four generation companies will have similar capacity and technology and will not be based on geographic region. They will all have the same starting point. This will allow us to compare their relative performance," he said. "All the four companies and the IPPs will be there. And you will have a single buyer model to buy all the power from all those companies and pay a transmission fee to the transmission company and the distribution companies a distribution fees," he added. A liberalized power sector is expected to help ease increasing electricity demand in the Kingdom, which rose by 8.9 percent to 51,000MW in 2011. "Demand is rising strongly and we expect it will be significantly higher than 120,000 MW in 2030," added Al-Swaha Source: Arab News
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#1196
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Saudi Arabia spends SR 350 million on biotechnology research
The Kingdom has spent SR 350 million on research projects in the field of biotechnology through the national plan for science, technology and innovation during the past three years, the chief of research at King Abdulaziz City for Science and Technology (KACST) has said. Prince Turki bin Saud bin Mohammad Al-Saud was inaugurating the Saudi International Biotechnology Conference at the KACST headquarters in Riyadh yesterday. Besides international speakers from the United States and Japan, around 500 local delegates attended the function. Essam Al-Yamani, chairman of the scientific committee, made the introductory remarks at the inaugural ceremony. Prince Turki said the amount spent on research was 25 percent of the total strategic technology projects adopted by the national plan for research projects. He also pointed out that KACST is currently involved in several local and international bodies to develop biotechnology in the Kingdom. He enumerated the facilities available in the Kingdom to develop biotechnology. Adah Al-Mutairi, a Saudi woman academician who is currently the associate professor of chemistry at the University of California, San Diego (UCSD), delivered the opening speech of the first scientific session. She spoke on "The art of falling apart: exploiting nanomaterial disassembly for health sciences". Adah Al-Mutairi leads the Laboratory for Bioresponsive Materials, a highly interdisciplinary research group that combines chemistry with nanotechnology, and the Center of Excellence in Nanomedicine, a cross-campus collaborative that develops tools for the future of biology and medicine. Speaking to Arab News, Al-Yamani said global biotechnology research and development spending had more than doubled in the last 10 years. "There is no doubt that biotechnology is a key pin in the future development and prosperity of any country." He said the conference would review current biomedical nanotechnology strategies and thrusts internationally and within the Kingdom, with the sessions covering a wide range of essential scientific fields including regenerative medical technologies, imaging and diagnosis, and delivery of therapies. The conference focuses on drug delivery technologies for pharmaceuticals and nanotechnology tools for biomedicine, chemical system engineering and nanobiotechnology, and new materials. He pointed out that research into health biotechnology is vital, due to the incidence of certain rare diseases in the Kingdom, particularly in the field of genetics, and in the field of diagnosing and treating communicable and non-communicable diseases. Health is an important factor in the social and economic development of any nation, he said. While Saudi Arabia has a young population at the moment, the older generation is living longer, and certain diseases are on the increase, such as diabetes, which threaten the future well being of the nation's population. These concerns have placed health at the center of economic development discourse in the Kingdom and high on the priority list for research and development. Biomedical and health science research contributes significantly toward improving people's health, minimizing the burden of disease, containing health care costs, and more importantly, improving the quality of life of people living in the Kingdom. "Overall, the main objectives of this conference are to enhance our understanding of the current use of nanobiotechnology in the field of medicine, and to make breakthroughs in treatment for many prevalent diseases within Saudi Arabia," Al-Yamani said. Source: Arab News
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#1197
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New Saudi mega projects proposed to comply with green building requisites
The design, construction and operation of new mega projects in Saudi Arabia must comply with the environmental assessments and green building methodologies in order to reduce ecological footprint and CO2 emission, the Saudi Mega Infrastructure Projects 2012 "think tank" recommended at the end of the summit in Riyadh recently. Moreover, after hours of brainstorming, series of presentations, panel discussions, exhaustive debates and serious deliberations, the delegates came up with a list of recommendations, like all mega projects should have data bank containing statistics, forecast, financial capability and assets of the projects, including their independent management status. This data bank should be accessible and transparent to all stockholders. Besides, mega projects must have a strategic national vision apart from allowing involvement in planning and development of large projects collectively and maintaining a record of activities learned. The public and private sectors were also urged to establish a nonprofit institute to manage and keep all the mega records that can be of use to stakeholders like owners, investors, suppliers, etc. As such, mega projects performance should be measurable, quantifiable and manageable so as to foresee the outcomes of the projects along with their positive and negative indications. The summit think tank also encourages and supports a professional certification institute, such as non-government organizations similar to Mega Projects Association in UK, which has the main function of taking care of industry vision of the mega projects. Government regulation and guidance tools should be put in place regarding the logistics EPC relationship of mega contractors with sub-contractors. Furthermore, a mandatory national organizational chart should be there toward integrated information of mega project details to middle size and small projects. Such chart would clearly indicate the parametric project information, responsibilities of internal/external publics. There can be a web based on demand accessibility system for this purpose. The summit participants also called for an independent legal system protecting the investors' interest by providing them guidance related to contractual risk management, aside from a creation of special education department for all mega project managers and implementation of an on-the-job training system Source: Saudi Gazette
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#1198
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KSA's King Faisal Medical City ahead of schedule but sees cost overrun
The Saudi Arabian ministry of health has completed 20% of the first phase of the King Faisal Medical City project and expects to deliver the entire first phase by the second quarter of 2014, with the second phase expected to be complete at the end of 2015, executive manager of KFMC Dr. Ahmed Al Nami told Zawya. "This is two years in advance of the scheduled completion date, but the cost is likely to overshoot the targeted budget of USD 1.1 billion," Dr. Al Nami said. Recent data from the health ministry show that the kingdom had 34,370 hospital beds in 2010 and 59,169 in 2011, a number that is expected to increase to 63,930 by 2015, driven by projects like KFMC. Saudi Arabia spent about USD 18.5 billion or 5% of GDP on health care in 2009, according to research from Alpen Capital. Being built in the Southern Province of Saudi Arabia, KFMC is a 262,836-square-meter, 1,350-bed medical city that includes a 500-bed main hospital, a specialized eye hospital, a heart and neuroscience hospital, a physical therapy center, 200 housing units, 200 apartments for staff and an unspecified number of hotels. Construction began in March 2012. In February 2012, health minister Dr. Abdullah Al-Rabeeah signed a contract worth USD 171.2 million with Al-Fawzan Trading and Contracting Company to build the 500-bed main hospital that comprises the first phase of the project. The Saudi health ministry has a USD 4.27 billion budget for the current fiscal year for the construction of health care facilities in different parts of the country. Source: Zawya News
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#1199
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Saudi firms wins $1bn Morocco solar plant contract
Morocco on Monday awarded a Saudi-led consortium a $1 billion contract to build a 160 megawatt solar power plant, the first in a series of vast solar energy projects planned in the North African kingdom. A consortium made up of Saudi developer ACWA Power International (95 percent) and the Spanish firms ARIES and TSC (five percent between them), beat off bids from three other groups, one of them led by Italian energy giant Enel. The bids were evaluated on the basis of price per kilowatt/hour proposed by the competing firms, with the ACWA group offering 1.60 dirhams (0.14 euros), some 27 percent less than the nearest bidder. Announcing the winners, Mustapha Bakkoury, the head of Morocco's solar energy agency MASEN, said the project would cost nearly $1 billion (774 million euros), with work to begin at the end of 2012 and slated for completion in late 2014. Located near the desert frontier town of Ouarzazate and covering 2,500 hectares, the project is the first of two phases that should when completed raise the Ouarzazate plant's generation capacity to 500 megawatts. The project will be financed with loans from the World Bank, the African Development Bank, the European Investment Bank, Germany's KfW bank and the French Development Agency. The German government and the European Commission will also provide grants of 15 million and 30 million euros respectively. Morocco is aiming to become a world-class renewable electricity producer, and is the eyeing the chance to export clean energy to Europe. The Ouarzazate solar plant is the first of five that Morocco plans to build by 2020 in its southern desert regions, which are expected to add 2,000 megawatts to total generation capacity at an estimated cost of $9 billion. The resource-poor country also hopes to add 2,000 megawatts of generation capacity over the same period, from planned wind farms along the coast. Speaking at Monday's awarding ceremony, the head of the department of water and electricity, Ali Fassi Fihri, described the project as a "great step towards the future." Source: Zawya News
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#1200
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Coca-Cola buys 50% in Aujan
The Coca-Cola Co. said Monday that it completed its acquisition of about half of Saudi Arabia’s Aujan Industries for about $980 million. Under the terms of the deal originally announced in December 2011, Atlanta-based Coca-Cola bought a 50 percent stake in the part of Aujan that holds rights to the company’s brands, and 49 percent of its distribution company. Aujan sells the popular Rani line of fruit drinks and the non-alcoholic malt beverage Barbican throughout the Middle East. It also holds the regional license for Vimto, a British spiced fruit drink. Coca-Cola said the acquisition expands its lineup of juice products and helps boost value for its shareholders. Coca-Cola said the deal is part of its plan, announced in October 2011, to invest $5 billion in the Middle East and North Africa region over the next 10 years. Coca-Cola shares rose 2 cents to $38.05 in morning trading Monday. Source: Saudi Gazette, AP
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