{"id":97567,"date":"2025-06-01T00:00:00","date_gmt":"2025-06-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/"},"modified":"2025-06-01T00:00:00","modified_gmt":"2025-06-01T00:00:00","slug":"aljomaih-secures-sar-825-mn-for-rabigh-2-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/","title":{"rendered":"AlJomaih secures SAR 825 mn for Rabigh 2 plant"},"content":{"rendered":"

\n

INFRASTRUCTURE-<\/p>\n

<\/strong>AlJomaih En<\/strong>ergy and Water Company reached financial close for the 300 MW Rabigh<\/strong> 2 <\/strong>Solar Independent Power Plant with total financing of SAR 825 mn<\/strong>, according to a press release (pdf)<\/a>. Once operational, the facility is expected to power some 53k residential units. <\/p>\n

The financiers:<\/strong> The project bagged funding from a consortium comprising Al Rajhi Bank, Abu Dhabi Commercial Bank, Sumitomo Mitsui Trust Bank, and DBS Bank.<\/p>\n

BACKGROUND-<\/strong> TotalEnergies and AlJomaih signed<\/a> a 25-year power purchase agreement with the Saudi Power Procurement Company (SPPC) for the 300 MW solar project during French President Emmanuel Macron\u2019s visit last December. This came after the consortium got shortlisted<\/a> by the SPPC in October, as part of the fifth round of projects under KSA\u2019s National Renewable Energy Program.<\/p>\n

\n

IPO WATCH-<\/p>\n

Local hospi<\/strong>tal operator Specialized Medical Company (SMC) closed the institutional <\/strong>book <\/strong>for its IPO<\/strong>, after identifying an inconsistency across financial disclosures and securing the retrieval of SAR 200 mn (USD 53 mn) in recently paid dividends, according to a complimentary prospectus (pdf)<\/a>. The dividend reversal follows CMA regulation, with shareholders required to return the capital before 30 June.<\/p>\n

ICYMI- <\/strong>SMC has postponed its retail IPO<\/a> subscription to 15-16 June, scheduling final share allocation for Tuesday, 24 June, according to a complimentary prospectus (pdf)<\/a>. Moreover, the private healthcare provider is offering a 30% stake in a secondary share sale, selling the institutional tranche sold out within hours last month<\/a> at the full price range of SAR 24\u201325 per share.<\/p>\n

\n

M&A WATCH-<\/p>\n

Fipco eyes <\/strong>ful<\/strong>l takeover of Bina Holding: <\/strong>Tadawul-listed woven bag-maker Filing and<\/a>Packing<\/a>Materials Manufacturing<\/a> (Fipco) inked a non-binding MoU to acquire 100% of construction company Bina Industrial Investments Holding<\/a> \u2019s share capital, it said in a filing<\/a> to the exchange.<\/p>\n

The agreement sets a 180-day window to complete due diligence<\/strong>, appoint a financial advisor, negotiate final terms, and line up regulatory approvals.<\/p>\n

\n

LOCALIZATION-<\/p>\n

Local Content a<\/strong>nd Government Procurement Authority (LCGPA) signed an<\/strong> agreement <\/strong>with <\/strong>SNT Gulf<\/a><\/strong> to manufacture heat recovery systems locally<\/strong>, the authority said in a post on LinkedIn<\/a>. The agreement \u2014 backed by the Energy Ministry \u2014 is expected to add SAR 2.6 bn to the economy and create over 250 jobs, aiming to improve power plant efficiency and build new supply chains in the energy sector.<\/p>\n

REFRESHER- <\/strong>The authority signed agreements with Al Yamamah Steel industries and the Arabian International Company for Steel Structure last October<\/a> to localize the manufacturing of steel wind turbine towers.<\/p>\n","protected":false},"excerpt":{"rendered":"

ALSO: LCGPA + SNT Gulf sign agreement to localize heat recovery systems<\/p>\n","protected":false},"author":1,"featured_media":97568,"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":[135,71,3022,54,10,1331,1447],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-abu-dhabi-commercial-bank","tag-al-rajhi-bank","tag-aljomaih-energy-and-water","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-saudi-power-procurement-company-sppc","tag-the-local-content-and-government-procurement-authority-lcgpa","wpautop","entry"],"acf":{"mongo_id":"6599d639-2c24-4ade-baed-67b6e9067310","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/2110.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AlJomaih secures SAR 825 mn for Rabigh 2 plant","related_issue":[97543],"teaser":"ALSO: LCGPA + SNT Gulf sign agreement to localize heat recovery systems","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.fe810a06-1366-4af8-aa6f-7908137f71bd.mp3"},"yoast_head":"\nAlJomaih secures SAR 825 mn for Rabigh 2 plant - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AlJomaih secures SAR 825 mn for Rabigh 2 plant\" \/>\n<meta property=\"og:description\" content=\"ALSO: LCGPA + SNT Gulf sign agreement to localize heat recovery systems\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"AlJomaih secures SAR 825 mn for Rabigh 2 plant\",\"datePublished\":\"2025-06-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\"},\"wordCount\":405,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi Commercial Bank\",\"Al Rajhi Bank\",\"Aljomaih Energy and Water\",\"ALSO ON OUR RADAR\",\"EnterpriseAM KSA\",\"Saudi Power Procurement Company (SPPC)\",\"The Local Content and Government Procurement Authority (LCGPA)\"],\"articleSection\":[\"ALSO ON OUR RADAR\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\",\"name\":\"AlJomaih secures SAR 825 mn for Rabigh 2 plant - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-06-01T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AlJomaih secures SAR 825 mn for Rabigh 2 plant\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"AlJomaih secures SAR 825 mn for Rabigh 2 plant - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/","og_locale":"en_US","og_type":"article","og_title":"AlJomaih secures SAR 825 mn for Rabigh 2 plant","og_description":"ALSO: LCGPA + SNT Gulf sign agreement to localize heat recovery systems","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/","og_site_name":"KSA","article_published_time":"2025-06-01T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"AlJomaih secures SAR 825 mn for Rabigh 2 plant","datePublished":"2025-06-01T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/"},"wordCount":405,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1","keywords":["Abu Dhabi Commercial Bank","Al Rajhi Bank","Aljomaih Energy and Water","ALSO ON OUR RADAR","EnterpriseAM KSA","Saudi Power Procurement Company (SPPC)","The Local Content and Government Procurement Authority (LCGPA)"],"articleSection":["ALSO ON OUR RADAR"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/","name":"AlJomaih secures SAR 825 mn for Rabigh 2 plant - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1","datePublished":"2025-06-01T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aljomaih-secures-sar-825-mn-for-rabigh-2-plant\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"AlJomaih secures SAR 825 mn for Rabigh 2 plant"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2110.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/97567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=97567"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/97567\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/97543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/97568"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=97567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=97567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=97567"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=97567"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=97567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}