Modon sets up power station

Saudi Industrial Property Authority (Modon) has inaugurated the 1,000-MW (380 kV) central electric converter station in Madinah Industrial City which has been built at a cost of SR441 million ($117 million).

The station, which has been set up in 26 months, will boost power supply to the industrial city of Madinah. According to Modon, there has been an overwhelming response from investors and many have sought industrial property in the city. The station will contribute to meet the current and future needs for electricity in the industrial city, it stated.

There are more than 230 existing and under-construction factories in the industrial city of Madinah.

LXA to design third Wagamama

LXA, a leading hospitality interior design consultancy, has partnered with Pan-Asian inspired eatery Wagamama to expand its design portfolio into new areas of Saudi Arabia.

The company (formerly Luxe Interior) is a specialist in interior design, project management and development services with operations throughout the UK and the Middle East.

Following the success of the Jeddah store located on Al Hail Street, a second LXA Wagamama design collaboration now opens in Faisaliah Mall, Riyadh. Construction work is now under way on a third venue, set for completion towards the end of 2017, in The Red Sea Mall Jeddah.

Weak cement sales continue

Total cement sales in Saudi Arabia fell 19 per cent year-on-year (y-o-y), but grew 16 per cent month-on-month (m-o-m) to 4.7 million tonnes in March. Clinker production came in at 4.6 million tonnes during March, down three per cent y-o-y, a report said.

Historically March has generally seen the highest monthly sales in a year, according to the study “Saudi Cement Sector – Monthly” released by Al Rajhi Capital, a top financial advisory services provider.

Total inventories continued to rise 37 per cent y-o-y and 1.2 per cent m-o-m driven by current mismatch between supply and demand, representing 59 per cent of the last 12 months’ sales.