{"id":93155,"date":"2025-01-07T00:00:00","date_gmt":"2025-01-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/07\/diriyah-inaugurates-two-power-transmission-stations-worth-sar-682-mn\/"},"modified":"2025-01-07T00:00:00","modified_gmt":"2025-01-07T00:00:00","slug":"diriyah-inaugurates-two-power-transmission-stations-worth-sar-682-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/07\/diriyah-inaugurates-two-power-transmission-stations-worth-sar-682-mn\/","title":{"rendered":"Diriyah inaugurates two power transmission stations worth SAR 682 mn"},"content":{"rendered":"

\n

INFRASTRUCTURE-<\/p>\n

PIF-backed developer <\/strong>Diriyah Company<\/a><\/strong> inaugurated two <\/strong>power<\/strong> transmission stations in <\/strong>the Diriyah governorate <\/strong>with a total cost of SAR 682 mn, state news agency SPA<\/a> reports. The stations will act as the primary power sources for cultural and heritage projects in Diriyah and Wadi Safar, and they will be operated by the Saudi Electricity Company.<\/p>\n

\n

INVESTMENT WATCH-<\/p>\n

Thimar Development Holdin<\/a><\/strong>g<\/a><\/strong> is setting up a SAR 100 mn private equity investment fund <\/strong>to acquire a 70% stake in <\/strong>Jiyad Al Ezz<\/strong> Company<\/strong>, which operates in Makkah\u2019s livestock and slaughterhouse markets, according to a disclosure<\/a> to Tadawul. Rasana Financial Company<\/a> was appointed fund manager and financial advisor to Thimar.<\/p>\n

The details:<\/strong> The fund\u2019s initial duration is seven years, which can be extended up to two additional years. It plans to raise its capital via private placement in exchange for issuing 100k units at SAR 1k apiece. Thimar\u2019s contribution to the fund will not exceed SAR 30 mn and will depend on the final fund size. The fund must meet a minimum capital requirement of SAR 20 mn.<\/p>\n

\n

AUTOMOTIVE-<\/p>\n

PIF-backed luxury EV-maker Lucid exceeded expectations in 4Q, with vehicle deliveries<\/strong> growing 78% y-o-y<\/strong> to 3.1k vehicles<\/a>, Reuters<\/a> reports. Production surged 42% to 3.4k vehicles during the quarter. Lucid is scheduled to release its 4Q results on Tuesday, 25 February. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Thimar Development is setting up a private equity fund to acquire 70% of Jiyad Al Ezz<\/p>\n","protected":false},"author":1,"featured_media":93156,"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":[54,233,10,2700,3692],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-diriyah","tag-enterpriseam-ksa","tag-lucid","tag-thimar-development-holding","wpautop","entry"],"acf":{"mongo_id":"bb5feed0-24e7-4db6-9cb9-ffc2f0472950","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/236.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Diriyah inaugurates two power transmission stations worth SAR 682 mn","related_issue":[93139],"teaser":"PLUS: Thimar Development is setting up a private equity fund to acquire 70% of Jiyad Al Ezz","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.e06ef481-7093-4f77-b978-fbef2e2b43b4.mp3"},"yoast_head":"\nDiriyah inaugurates two power transmission stations worth SAR 682 mn - 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