10 Genie XC booms delivered

Saudi Arabian heavy equipment rental company Bin Quraya, a member of the Bin Quraya Group, recently invested in ten, 40-m (131 ft) Genie Xtra Capacity (XC) boom lifts to support the needs of Saudi Aramco, the company’s key customer.

The machines were supplied by Saudi-based authorised Genie distributor, Middle East Development Company (Medco).  All 10 Genie SX-125 XC booms were delivered this January.

 Genie Xtra Capacity booms are designed to work in applications that require higher capacities. Like all models of the Genie XC family, the Genie SX-125 XC boom features a dual envelope design offering an unrestricted platform capacity of 300 kg and a restricted capacity of 454 kg.

 “Offering one-third more capacity than standard, our Genie XC booms combine the latest new-generation Genie technologies to raise more people, more tools and more materials to increase productivity, and make work in applications that require higher capacities faster and easier,” said Gary Cooke, Genie regional sales manager, Terex AWP, for the Middle East at Terex Equipment Middle East.

Aramco mulls steel mill plans

Saudi Aramco recently signed an agreement with Nippon Steel and Sumitomo Metal Corporation (NSSMC), Sumitomo Corporation, and Sumitomo Corporation Saudi Arabia to conduct a feasibility study for an integrated steel mill to produce steel plates in the Ras Al Khair area.

“Saudi Aramco is pleased to sign this MoU, which will enhance the local supply chain supporting Saudi Aramco and others in the kingdom,” said Ahmad Al Sa’adi, Saudi Aramco senior vice president of Technical Services. “The presence of the new steel mill will reduce costs, delivery time, and offer better customer service to the local market.”

Saudi likely to take stake in SBG

The Saudi government is expected to take a 35 per cent stake in construction giant Saudi Binladin Group (SBG) as part of a financial settlement with state authorities, Reuters has reported.

 The news agency said the figure was confirmed by four sources familiar with the matter.

 The stake represents the total shares of chairman Bakr Binladin and his brothers Saleh and Saad, all of whom were detained in an anti-graft crackdown in November alongside scores of other businessmen, princes and officials, according to sources.