{"id":88730,"date":"2024-08-14T00:00:00","date_gmt":"2024-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/14\/man-industries-to-invest-usd-72-mn-in-new-line-pipes-coating-factory\/"},"modified":"2024-08-14T00:00:00","modified_gmt":"2024-08-14T00:00:00","slug":"man-industries-to-invest-usd-72-mn-in-new-line-pipes-coating-factory","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/14\/man-industries-to-invest-usd-72-mn-in-new-line-pipes-coating-factory\/","title":{"rendered":"Man Industries to invest USD 72 mn in new line pipes + coating factory"},"content":{"rendered":"<p class=\"tag-border-left\"> MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Indian steel pipe manufacturer Man Industries plans to invest USD 72 mn to establish<\/strong> <strong>a new <\/strong><strong>factory in Dammam for <\/strong><strong>line pipes<\/strong><strong> and coating<\/strong>, with a production capacity of 400-500k tons, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/indias-man-industries-to-establish-pipe-production-unit-in-saudi-arabia-qa4yf916\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The company\u2019s current production capacity stands at 1.1 mn tons. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- PIF-owned Saudi Recycling Company (Sirc) has exported <\/strong><strong>recycled plastic flakes<\/strong><strong> to an<\/strong> <strong>undisclosed UK manufacturer of recycled plastic bottles<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/SIRCSaudi\/status\/1823291684924387788\" style=\"\" rel=\"noopener\">post on X<\/a>. This is the company\u2019s second destination for recycled plastic exports after tapping the Spanish market earlier this year.<\/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\"> M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf General Cooperative Ins. appointed Alinma Investment as its financial advisor for its<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/556ee91d-889b-4f96-9034-58fe46012ba9\/two-m&a-transactions-in-the-pipeline\" style=\"\" rel=\"noopener\">potential merger<\/a><\/strong><strong> with Gulf Union Al Ahlia Cooperative Ins., <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82064&anCat=1&cs=8260&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/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\">OIL & GAS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.cnooc.com.cn\/col\/col6141\/index.html\" style=\"\" rel=\"noopener\">China Offshore Oil Engineering (COOEC)<\/a><\/strong><strong> completed a 24-storey offshore oil and gas<\/strong> <strong>platform, set to be transported to the Marjan oil field<\/strong> \u2014 one of Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2019\/aramco-contracts-marjan-berri-oilfields\" style=\"\" rel=\"noopener\">key fields<\/a> off Saudi\u2019s eastern coast \u2014 at the end of August, <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/news\/china\/science\/article\/3274183\/china-finishes-work-mega-oil-and-gas-platform-destined-gulf?utm_source=youtube_community&utm_medium=referral\" style=\"\" rel=\"noopener\">South China Monitoring Post<\/a> citing a state media report. The platform is expected to deliver 24 mn tonnes of crude oil and 7.4 bn m3 of gas annually.<\/p>\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>Jubail 3B desalination plant enters commercial operations: <\/strong>Saudi Water Partnership Company (SWPC) began operating its SAR 2.6 bn (USD 692 mn) solar-powered Jubail 3B Independent Water Desalination Project, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/water-electricity-co_swpc-engie-nesma-activity-7221554682895224834-u62u?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The plant was developed by a consortium led by France\u2019s Engie, along with Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/www.nesma.com\/\" style=\"\" rel=\"noopener\">Nesma Co<\/a> and <a target=\"_blank\" href=\"https:\/\/ajlanbros-holding.com\/\" style=\"\" rel=\"noopener\">Ajlan & Bros<\/a>. The Jubail 3B plant will use reverse osmosis technology to produce 570k cbm of potable water daily to provide water to 2 mn people in Riyadh and Qassim, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/world\/middle-east\/saudis-jubail-3b-water-project-enters-commercial-operations-hr7kr2qu\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> wrote. <\/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\"> AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lucid Group has launched its second auto sales and service center in Saudi Arabia in<\/strong> <strong>Jeddah <\/strong><strong>Auto Mall<\/strong><strong>,<\/strong> according to a statement picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/lucid-opens-full-service-studio-and-service-center-in-jeddah-wisu2nyf\" style=\"\" rel=\"noopener\">Zawya<\/a>. Lucid Studios are integrated, full-service facilities that offer repair, maintenance, and charging services, as well as auto sales.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Jubail 3B desalination plant enters commercial operations<\/p>\n","protected":false},"author":1,"featured_media":88731,"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":[54,2467,1711,10,14,392,1556,3040],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-cybersecurity","tag-enterpriseam-ksa","tag-ma-watch","tag-manufacturing","tag-oil-gas","tag-utilities","wpautop","entry"],"acf":{"mongo_id":"0adb837a-af9a-4e69-9aaf-b46d235a018d","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1571.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Man Industries to invest USD 72 mn in new line pipes + coating factory","related_issue":[88711],"teaser":"PLUS: Jubail 3B desalination plant enters commercial operations","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.01311106-e446-4478-ad50-b197d7b8d8a4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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