{"id":82118,"date":"2024-01-22T00:00:00","date_gmt":"2024-01-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/22\/bahri-enters-agreement-with-proman-for-methanol-powered-vessels\/"},"modified":"2024-01-22T00:00:00","modified_gmt":"2024-01-22T00:00:00","slug":"bahri-enters-agreement-with-proman-for-methanol-powered-vessels","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/22\/bahri-enters-agreement-with-proman-for-methanol-powered-vessels\/","title":{"rendered":"Bahri enters agreement with Proman for methanol-powered vessels"},"content":{"rendered":"<p class=\"tag-border-left\">SHIPPING + MARITIME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bahri<\/strong><strong> to charter methanol-powered vessels from Proman:<\/strong> National Saudi shipping firm <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/\" style=\"\" rel=\"noopener\">Bahri<\/a> subsidiary <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/en\/bahri-units\/bahri-chemicals\/\" style=\"\" rel=\"noopener\">Bahri Chemicals<\/a> and methanol producer Proman have inked a five-year agreement for Bahri to charter two methanol-powered vessels, according to a <a target=\"_blank\" href=\"https:\/\/www.bahri.sa\/en\/news-insights\/news-insight\/2024\/bahri-chemicals-to-time-charter-stena-provident-and-stena-progressive-in-a-5-year-agreement-with-proman\/\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday. The two ships \u2014 the Stena Provident and the Stena Progressive \u2014 will be used to transport a variety of products internationally. The IMOIIMeMAX ships are advanced dual-fuel tankers that are highly efficient for transporting cargo, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asfar set to develop tourist destination in Al Ahsa:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/asfarsaudi\/\" style=\"\" rel=\"noopener\">Saudi Tourism Investment<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/asfarsaudi\/\" style=\"\" rel=\"noopener\">Company (Asfar)<\/a> \u2014 wholly owned by the PIF \u2014 signed an MoU with Al Ahsa Municipality to develop a \u201cmajor\u201d tourist attraction in the Eastern Province, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/%D8%A3%D8%B3%D9%81%D8%A7%D8%B1-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A-%D9%88%D8%A3%D9%85%D8%A7%D9%86%D8%A9-%D8%A7%D9%84%D8%A3%D8%AD%D8%B3%D8%A7%D8%A1-%D9%8A%D9%88%D9%82%D8%B9%D8%A7%D9%86-%D9%85%D8%B0%D9%83%D8%B1%D8%A9-%D8%AA%D9%81%D8%A7%D9%87%D9%85-%D8%AA%D9%87%D8%AF%D9%81-%D8%A5%D9%84%D9%89-%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D9%88%D8%AC%D9%87%D8%A9-%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A%D8%A9-%D8%B1%D8%A6%D9%8A%D8%B3%D9%8A%D8%A9-%D9%81%D9%8A-t2ihm5xo\" style=\"\" rel=\"noopener\">joint statement<\/a> yesterday. The MoU will pave the way for Asfar and the private sector to turn an area of 500k sqm into a tourist destination, the statement said, without providing further details on the investments or timeline of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jabal Omar receives license to operate second tower of five-star Makkah hotel:<\/strong><a target=\"_blank\" href=\"https:\/\/jabalomar.com.sa\/\" style=\"\" rel=\"noopener\">Jabal Omar Development<\/a> \u2014 one of the Kingdom\u2019s largest listed property developers \u2014 has obtained an operating license from the Tourism Ministry for the second tower of its Jabal Omar Jumeirah hotel, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTI1EA_ODVPvyA3NMIgMyA3XNdREQBP-NxO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzkxMC9jb21wYW55U3ltYm9sLzQyNTAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The second tower is home to 244 rooms and suites, meeting rooms, and a business center service, among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PepsiCo invests big in local potatoes:<\/strong>PepsiCo will invest SAR 225 mn in cultivating potatoes for processed potato production under an agreement with the National Industrial Development Center (NIDC), the government agency <a target=\"_blank\" href=\"https:\/\/twitter.com\/ic_gov_sa\/status\/1748700914829980125\" style=\"\" rel=\"noopener\">said on X<\/a> earlier this week. No further details have been provided about the scope of the project. <\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadco gets second installment of ADF loan: <\/strong>The Tabuk Agricultural Development Co (Tadco) received a second installment amounting to SAR 30 mn as part of an operational loan of SAR 50.5 mn from the Agricultural Development Fund (ADF), it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMzAxEA_ODVPvyA3NMIgMyA3XNdREQDmDzS3\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzkxNi9jb21wYW55U3ltYm9sLzYwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> yesterday. The announcement comes a few weeks after it received a first installment of c. SAR 9.9 mn. The two-year financing package will be directed towards the company\u2019s operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Tadco\u2019s board of directors <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWhUQ3WFUjI8IEiPOxgw6jiQwQ3CU8PeOutL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DrbGLi78UWuI4ajbDwdDv4lTC9bPAEaBrYFg3p7hEn10gPyjxw_l4W89-Yr4nVfgTcQ78CXDBAjPZPL4hyeStsuBlOzASlaa51KPj0oVp56BBlZVZXIpecbMncwNfCc5ypOC-Jm8cTeXu4mie1qdM60melVQUUd1nkh9yEELIWICinwVYxrka1fZieU1ru_UjFs!\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi83NzkxMy9jb21wYW55U3ltYm9sLzYwNDAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">approved yesterday<\/a> the company\u2019s new strategic plan covering a six-year period from 2024 to 2030.The new strategy aims to diversify Tadco\u2019s revenue streams and prioritize products with a competitive advantage in a bid to solidify the company\u2019s position in the food and agribusiness sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diriyah completes Western Ring Road tunnel<\/strong><strong>: <\/strong>PIF-backed Diriyah Company announced the completion of the Western Ring Road connecting the city with one of Riyadh\u2019s main highways, it said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/diriyah-company-announces-completion-of-the-western-ring-road-infrastructure-construction-work-ik2yt1ok\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The project includes a 435-meter tunnel with eight lanes in both southbound and northbound directions. It comes under efforts to provide better access to Diriyah and the rest of the capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two vessels are advanced dual-fuel tankers that are highly efficient for transporting cargo<\/p>\n","protected":false},"author":1,"featured_media":82119,"comment_status":"","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":[291,54,290,288,233,10,2637,29,292,293,289,294],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-al-ahsa","tag-also-on-our-radar","tag-asfar","tag-bahri","tag-diriyah","tag-enterpriseam-ksa","tag-ipo","tag-ipo-watch","tag-jabal-omar","tag-pepsico","tag-proman","tag-tadco","wpautop","entry"],"acf":{"mongo_id":"078cca65-6111-4c03-b814-7afba36b4e92","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1792.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"Bahri enters agreement with Proman for methanol-powered vessels. 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