{"id":109005,"date":"2026-05-17T00:00:00","date_gmt":"2026-05-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=109005"},"modified":"2026-05-17T03:01:55","modified_gmt":"2026-05-17T03:01:55","slug":"natural-gas-networks-open-for-bids-stitch-raises-usd-25-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/05\/17\/natural-gas-networks-open-for-bids-stitch-raises-usd-25-mn\/","title":{"rendered":"Natural gas networks open for bids, Stitch raises USD 25 mn"},"content":{"rendered":"<p class=\"tag-border-left\">Riyadh, Eastern region compressed natural gas networks open for bids<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>On the hun<\/strong><strong>t for developers for compressed natural gas <\/strong><strong>distribution <\/strong><strong>networks: <\/strong>The Energy Ministry launched the prequalification process for tenders to develop, own, and operate tanker-based compressed natural gas distribution networks in the Riyadh and Eastern regions, state news agency <a href=\"https:\/\/www.spa.gov.sa\/en\/N2585618\" target=\"_blank\" rel=\"noopener\">SPA<\/a> reports. Interested companies have until 18 June to request prequalification documents, with final submissions due by 30 July. The move comes as the Kingdom is shifting industrial and utility energy consumption away from crude and diesel toward domestic gas.<\/p>\n<p class=\"tag-border-left\">GCC maintains tariffs on Chinese and Indian tile imports<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The <\/strong><strong>GCC is shie<\/strong><strong>lding itself against Asian ceramic and porcelain tile imports <\/strong><strong>for <\/strong><strong>another five years. <\/strong>The GCC Bureau of Technical Secretariat for Anti Injurious Practices in International Trade extended anti-dumping duties on ceramic and porcelain tile imports from China and India for five years starting 28 May, <a href=\"https:\/\/www.aleqt.com\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%B1%D8%B3%D9%88%D9%85-%D8%AE%D9%84%D9%8A%D8%AC%D9%8A%D8%A9-%D8%AA%D8%B5%D9%84-%D8%A5%D9%84%D9%89-106-%D9%84%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D8%B3%D9%8A%D8%B1%D8%A7%D9%85%D9%8A%D9%83-%D9%88%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B3%D9%84%D8%A7%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D8%A5%D8%BA%D8%B1%D8%A7%D9%82-9841\" target=\"_blank\" rel=\"noopener\">Al Eqtisadiah<\/a> reports, citing a circular from the secretariat. The measure was first introduced in 2020 after complaints from local producers over pricing practices.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>How heavy is the tax?<\/strong> Duties on Chinese firms range between 23.5% and 76%, while Indian producers face tariffs of 17.6% to 106%.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Behind the decision:<\/strong> Chinese and Indian producers were flooding the Saudi market with low-priced products, putting pressure on local manufacturers\u2019 sales and capacity, Ceramic and Porcelain National Committee Chairman Taha Khayat said. Saudi\u2019s ceramic and porcelain factories currently produce some 620 mn sqm annually against domestic demand of 300 mn sqm, following years of building up local industrial capacity.<\/p>\n<p class=\"tag-border-left\">Silicon Valley\u2019s a16z makes first GCC investment in Saudi fintech Stitch<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Saudi-<\/strong><strong>based fintech<\/strong> <strong><a href=\"https:\/\/stitch.co\/\" target=\"_blank\" rel=\"noopener\">Stitch<\/a><\/strong> <strong> raised USD 25 mn in a Series A round led by <\/strong><strong>Silicon Valley VC firm <\/strong><strong><a href=\"https:\/\/a16z.com\/\" target=\"_blank\" rel=\"noopener\">Andreessen Horowitz<\/a><\/strong><strong> (a16z)<\/strong>, marking the US venture capital firm\u2019s first investment in the GCC, according to a <a href=\"https:\/\/www.wamda.com\/2026\/05\/a16z-backs-saudi-fintech-stitch-gcc-deal\" target=\"_blank\" rel=\"noopener\">press release<\/a>. Existing backers Arbor Ventures, Cotu Ventures, Raed Ventures, and SVC also participated. The fresh funds will go toward product development and expanding the company\u2019s presence across the GCC and wider MENA region, alongside global growth efforts.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>About Stitch: <\/strong>Founded in 2022 by Mohamed Oueida (<a href=\"https:\/\/www.linkedin.com\/in\/mohamedoueida\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>), Stitch develops cloud-native software for financial institutions, covering lending, cards, payments, and ledger systems. The company currently operates across the GCC, Africa, and Southeast Asia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Chinese, Indian tile imports banned for five more years<\/p>\n","protected":false},"author":1,"featured_media":109006,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[5008,54,10,4302],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-109005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-a16z","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-stitch","wpautop","entry"],"acf":{"mongo_id":"164c4cfa-726d-49f3-9907-cdb135f3511f","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/903.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Natural gas networks open for bids, Stitch raises USD 25 mn","related_issue":[108992],"teaser":"PLUS: Chinese, Indian tile imports banned for five more years","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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