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Detailed plans for Jeddah, Makkah public transport networks unveiled

January 10, 2013

saudi

Jeddah, Jan 10: The ministerial committee for transport in Makkah province met here on Wednesday to review the progress of a plan to beef up the public transport system in the province, including the cities of Jeddah and Makkah.

The meeting, chaired by Prince Khaled Al-Faisal, Emir of Makkah, and attended by the Minister of Municipal and Rural Affairs Prince Mansour Bin Miteb, Jeddah Governor Prince Mishaal Bin Majed, Minister of Finance Ibrahim Assaf, Acting Transport Minister Muhammad Jameel Mulla, Makkah Mayor Osama Al-Bar, Jeddah Mayor Hani Aburas and other senior officials, reviewed detailed reports presented by the two mayoralties.

Addressing the meeting, Prince Khaled underlined the need for expediting implementation of the project, of which feasibility studies as well as the designing phase have already been completed.

Presenting the report on the Makkah transport system, Al-Bar said the project has two parts – the Makkah Metro and a network of buses, which will be based mainly on the bus rapid transit (BRT) system that provides a faster and more efficient transport service than the ordinary bus service.

The BRT network will have 60 stations on a total length of 60 km of ring roads. There will also be a network of local buses plying between the Grand Mosque and various destinations in the city not covered by BRT. The network will cover a distance of 65 km. There will be feeder services to pick and drop passengers at various metro stations.

Jeddah Mayor Aburas briefed the meeting on studies conducted for the public transport system for the city. The plan includes a light train network over a distance of 67 km from Makkah Road to Obhur via central Jeddah.

The three-line network will have 22 stations. A 24-km line will link King Abdulaziz International Airport to Haramain Railway Station at Sulaimaniya district in the Old Airport area. The line will have 17 stations.

Another 17-km line with seven stations will link the Haramain station with Corniche via Palestine Road.

The mayor said the public transport system also includes a network of 816 buses plying over a total length of 750 km.

Aburas said a sea transport network with 10 stations will be built along the Corniche with the aim of boosting tourism and entertainment.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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Agencies
July 31,2020

Mount Arafat, July 30: Muslim pilgrims converged Thursday on Saudi Arabia's Mount Arafat for the climax of this year's hajj, the smallest in modern times and a sharp contrast to the massive crowds of previous years.

A tight security cordon has been erected all around the foot of the rocky hill outside Mecca, also known as Jabal al-Rahma or Mount of Mercy.

Pilgrims, donning masks and observing social distancing, were brought in buses from neighbouring Mina, state television showed, as Saudi authorities impose measures to prevent a coronavirus outbreak.

They were subject to temperature checks and attended a sermon -- which state media said was translated into 10 languages -- before they set off on the climb to the summit for hours of Koran recitals and prayers to atone for their sins.

The scene was strikingly different to last year's ritual when a sea of pilgrims ascended Mount Arafat, marshalled by tens of thousands of stewards in a bid to prevent any crushes.

After sunset prayers, pilgrims will make their way down Mount Arafat to Muzdalifah, another holy site where they will sleep under the stars to prepare for the final stage of hajj, the symbolic "stoning of the devil".

It takes place on Friday and also marks the beginning of Eid al-Adha, the festival of sacrifice.

The hajj, one of the five pillars of Islam and a must for able-bodied Muslims at least once in their lifetime, is usually one of the world's largest religious gatherings.

But only up to 10,000 people already residing in the kingdom will participate in this year's ritual, compared with 2019's gathering of some 2.5 million from around the world.

"You are not our guests but those of God, the custodian of the two holy mosques (Saudi Arabia's King Salman) and the nation," Hajj Minister Mohammad Benten said in a video released by the media ministry on Wednesday.

Security cordon

A security cordon has been thrown around the holy sites to prevent any security breaches, an interior ministry spokesman said.

Riyadh faced strong criticism in 2015 when some 2,300 worshippers were killed in the deadliest stampede in the gathering's history.

But this year, those risks are greatly reduced by the much smaller crowd.

The pilgrims have all been tested for the virus, and foreign journalists were barred from this year's hajj, usually a huge global media event.

As part of the rites completed over five days in the holy city of Mecca and its surroundings, the pilgrims converged on Mount Arafat after spending the night in Mina.

A district of Mecca, Mina sits in a narrow valley surrounded by rocky mountains, and is transformed each year into a vast encampment for pilgrims.

They began the hajj on Wednesday with their first "tawaf", the circumambulation of the Kaaba, a large structure in Mecca’s Grand Mosque towards which Muslims around the world pray.

The Kaaba is draped in a black cloth embroidered in gold with Koranic verses and known as the kiswa, which is changed each year during the pilgrimage.

Pilgrims were brought inside the mosque in small batches, walking along paths marked on the floor, in sharp contrast to the normal sea of humanity that swirls around the Kaaba during hajj.

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Agencies
February 5,2020

Paris, Feb 5: Saudi Arabia has reported an outbreak of the highly pathogenic H5N8 bird flu virus on a poultry farm, the World Organisation for Animal Health (OIE) said on Tuesday, February 4.

The outbreak, which occurred in the central Sudair region, killed 22,700 birds, the OIE said, citing a report from the Saudi agriculture ministry.

The other 385,300 birds in the flock were slaughtered, it said.

The case was the first outbreak of the H5N8 virus in Saudi Arabia since July 2018.

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