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  PIF’s Humain and US chipmakers seal multibillion-dollar deals

  15 May 2025

  Humain, the Saudi Arabia Public Investment Fund (PIF)-owned artificial intelligence (AI) firm, has signed preliminary deals with US chipmakers AMD and Nvidia to build a multibillion-dollar advanced digital infrastructure in the kingdom.

  The firms announced the deals on 13 May, coinciding with the first day of US President Donald Trump’s trip to the Gulf states.

  AMD said it will invest up to $10bn to deploy 500MW of AI compute capacity in Saudi Arabia over the next five years.

  According to AMD, the project entails building “the world’s most open, scalable, resilient and cost-efficient AI infrastructure, that will power the future of global intelligence through a network of AMD-based AI computing centres stretching from Saudi Arabia to the US”.

  It added: “The AI superstructure built by AMD and Humain will be open by design, accessible at scale and optimised to power AI workloads across enterprise, start-up and sovereign markets.

  “Humain will oversee end-to-end delivery, including [the construction of a] hyperscale data centre, sustainable power systems and global fiber interconnects, and AMD will provide the full spectrum of the AMD AI compute portfolio and the AMD ROCm open software ecosystem.”

  The ROCm is an open software stack comprising drivers, development tools and application programming interfaces that enable graphic processing unit (GPU) programming from low-level kernel to end-user applications, according to AMD.

  Similarly, GPU maker Nvidia agreed to develop a similar compute capacity to build “AI factories” in Saudi Arabia with a projected capacity of up to 500MW.

  These will require “several hundred thousand” of Nvidia’s most advanced GPUs over the next five years.

  The firm said the first phase of deployment will be an 18,000 Nvidia GB300 Grace Blackwell AI supercomputer with Nvidia InfiniBand networking.

  “These hyperscale AI data centres will provide a secure foundational infrastructure for training and deploying sovereign AI models at scale, enabling industries across Saudi Arabia and worldwide to accelerate innovation and digital transformation,” the firm said.

  The chosen platform is Nvidia Omniverse, which the firm describes as “a multi-tenant system to drive acceleration of the new era of physical AI and robotics through simulation, optimisation and operation of physical environments by new human-AI-led solutions”.

  This will allow industries such as manufacturing, logistics and energy to create fully integrated digital twins, boosting efficiency, safety and sustainability while fast-tracking the kingdom’s journey toward Industry 4.0, it added.

  The UAE and Nvidia, in particular, are expected to announce a deal over the next 24 hours for the supply of up to 1 million GPUs to the UAE, international media reports indicate.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13887968/main.jpg

  Jennifer Aguinaldo
• 
  Oman awards $670m Adam-Thumrait road contracts

  15 May 2025

  Oman’s Ministry of Transport, Communications & Information Technology has awarded three contracts totalling over RO258m ($670m) for packages three, four and five of the Adam-Thumrait road dualisation project.

  The contracts were awarded to joint ventures of local and Saudi-based firms.

  The first contract covering the construction works on package three was awarded to a joint venture of local firm Sarooj Construction Company and Saudi Arabia’s Rawaf Contracting Company.

  Package three covers a 132.5 kilometre-long stretch of highway connecting Haima with Maqshan. It includes the construction of roads with 16 detour lanes, an intersection for Maqshan and 19 side parking slots.

  The second contract, covering package four, was awarded to Oman’s Galfar Engineering & Contracting and Saudi Arabia’s Alomaier Trading & Contracting Company.

  Package four is 135km long and connects Maqshan to Dokah. The scope includes the construction of roads with 14 detour lanes and 27 side parking lots.

  The third contract, covering the construction of package five, was awarded to the joint venture of Oman Gulf Company and Saudi Arabia’s Kom Al-Fahd Trading, Industry & Contracting Company.

   

  وقعت الوزارة اليوم بإتلاف عُماني سعودي على 3 اتفاقيات لتنفيذ الأجزاء (الثالث والرابع والخامس) من ازدواجية طريق السلطان سعيد بن تيمور بطول إجمالي 400 كم

  جاء ذلك في إطار جهود وزارة النقل والاتصالات وتقنية المعلومات المستمرة لتعزيز جودة وكفاءة البنية الأساسية للطرق✨ pic.twitter.com/iHPf7VZrRb

  — وزارة النقل والاتصالات وتقنية المعلومات (@mtcitoman) May 13, 2025

   

  In September last year, MEED reported that Oman’s Transport, Communications & Information Technology Ministry had opened bids for packages three, four and five of the Adam-Thumrait road dualisation project. 

  US-based Parsons is the consultant for the Adam-Thumrait road expansion project.

  The ministry reissued the tender for the contracts on 22 June last year. The tender was open exclusively for Saudi-Omani joint ventures.

  The contracts were first tendered in 2019 and later cancelled.

  The project links Muscat and Salalah via a fully dualised road. It will also upgrade the existing single carriageway between Adam and Thumrait to a four-lane carriageway.

  The 717.5km-long highway project is divided into five packages.

  Packages one and two were completed in 2019. UAE-based Ghantoot Transport & General Contracting Company was the contractor for package one. Lebanon-based Consolidated Contractors Company (CCC) was the contractor for package two.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13885985/main.jpg

  Yasir Iqbal
• 
  US and Qatar sign wide-reaching strategic deals

  15 May 2025

  During US President Donald Trump’s trip to Doha, the US and Qatar signed a series of high-value agreements spanning aviation, defence and other technologies, deepening economic and strategic ties between the two nations.

  Headlining the visit was a landmark aircraft order by Qatar Airways for up to 210 Boeing aircraft – including the 787 Dreamliner and the 777X models – to be delivered over the next seven years.

  Qatar Airways group CEO Badr Mohammed Al-Meer hailed the deal as a “critical next step” for the airline, praising its existing Boeing fleet and stating that the new order would deliver the “cleanest, youngest and most efficient fleet in global aviation”.

  The White House valued the deal at approximately $96bn, though Trump quoted figures as high as $200bn during the announcement. Either way, it marks the single largest order for Boeing’s 787 series to date and will provide much-needed support for the US firm’s ailing share price.

  In addition to the Boeing deal, US and Qatari officials finalised a variety of defence contracts with US firms, including a $2bn deal with General Atomics for unmanned aerial vehicles and a $1bn deal with Raytheon for its latest counter-drone technology – making Qatar its first international buyer.

  The US meanwhile signed a statement of intent for potentially $38bn in future investments in the air defence, maritime security and other support infrastructure for the US’ Al-Udeid Air Base in Qatar.

  A series of technology partnership agreements were also signed, including a $1bn Qatari joint venture with US firms in the emerging field of quantum technologies.

  The cumulative value of these and related deals is projected to exceed $1.2tn, reflecting a broader and long-term economic engagement between the two countries, though it remains unclear where the full measure of this figure is expected to come from.

  The expansive new deals will build on already-strong existing US-Qatar economic ties, including Qatari investments in US energy projects and ongoing military sales valued at over $26bn.

  There is also the possibility of Qatar gifting the US a $400m luxury Boeing 747-8 for use by Trump during his presidency as a replacement for the Air Force One fleet’s ageing 747-200Bs – a model that first entered service in 1971 – though the proposition has met with US political resistance.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13885936/main.jpg

  John Bambridge
• 
  New Murabba seeks consortiums for Mukaab project

  15 May 2025

  

   

  Register for MEED’s 14-day trial access 

  Saudi Arabia’s New Murabba Development Company (NMDC) has asked companies to prequalify for a contract that requires them to form consortiums to execute the main works for the Mukaab at the New Murabba downtown development in Riyadh.

  The notice was issued on 5 May with an initial submission deadline of 12 June.

  The Mukaab is a Najdi-inspired landmark that will be one of the largest buildings in the world. It will be 400 metres high, 400 metres wide and 400 metres long.

  Internally, it will have a tower on top of a spiral base and a structure featuring 2 million square metres (sq m) of floor space designated for hospitality. It will feature commercial spaces, cultural and tourist attractions, and residential and hotel units, as well as recreational facilities.

  Earlier this month, MEED exclusively reported that NMDC was prequalifying firms for three new contracts covering the construction works on the Mukaab at the New Murabba downtown development in Riyadh.

  MEED understands that the three packages comprise the Central Core Tower, Outriggers and Vertical Ribs, and could cost up to SR10bn ($2.6bn).

  Downtown destination

  The New Murabba destination will have a total floor area of more than 25 million sq m and feature more than 104,000 residential units, 9,000 hotel rooms and over 980,000 sq m of retail space.

  The scheme will include 1.4 million sq m of office space, 620,000 sq m of leisure facilities and 1.8 million sq m of space dedicated to community facilities.

  The project will be developed around the concept of sustainability and will include green spaces and walking and cycling paths to promote healthy, active lifestyles and community activities.

  Living, working and entertainment facilities will be created within a 15-minute walking radius. The area will use an internal transport system and be about a 20-minute drive from the airport.

  The downtown area will feature a museum, a technology and design university, an immersive, multipurpose theatre, and more than 80 entertainment and cultural venues.

  ---

  MEED’s latest report on Saudi Arabia includes:

  > GOVERNMENT: Riyadh takes the diplomatic initiative
  > ECONOMY: Saudi Arabia’s non-oil economy forges onward
  > BANKING: Saudi banks work to keep pace with credit expansion
  > UPSTREAM: Saudi oil and gas spending to surpass 2024 level
  > DOWNSTREAM: Aramco’s recalibrated chemical goals reflect realism
  > POWER: Saudi power sector enters busiest year
  > WATER: Saudi water contracts set another annual record
  > CONSTRUCTION: Reprioritisation underpins Saudi construction
  > TRANSPORT: Riyadh pushes ahead with infrastructure development
  > DATABANK: Saudi Arabia’s growth trend heads up

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13885914/main.jpg

  Yasir Iqbal
• 
  PIF 13GW renewables next round due this year

  15 May 2025

  The next round of the renewable energy programme, which Saudi sovereign vehicle, the Public Investment Fund (PIF) is procuring through direct negotiations with the local utility developer and investor, Acwa Power, will have a total capacity of 13GW.

  According to a source with knowledge of the plans, the renewable energy plants will be developed across six locations in Saudi Arabia.

  MEED understands that the deal could be announced before the end of 2025.

  These projects comprise the fifth PIF renewable energy programme round, procured using the so-called Price Discovery Scheme.

  Under this programme, the selected national champion, Acwa Power, is expected to match the tariffs resulting from the latest round of the publicly tendered schemes, whose procurement process is managed by the principal buyer, Saudi Power Procurement Company (SPPC).

  It is understood that the PIF and Acwa Power will only proceed or conclude the next price discovery scheme projects once SPPC has received the bids and awarded the contracts for the National Renewable Energy Programme's (NREP) sixth round. 

  Bids are due for the four solar photovoltaic (PV) independent power projects (IPPs) under the NREP round 6 by 1 June, as MEED reported.

  The four solar IPPs have a combined capacity of 3,000MW.

  A 1,400MW solar PV IPP will be located in Najran, while the smallest – the 400MW Al-Sufun solar IPP – will be in Hail.

  The 600MW Samtah and 600MW Al-Darb solar IPPs will be located in Jizan.

  Previous PIF round

  Acwa Power and its partners reached financial close for three large-scale solar PV power plants with a total combined capacity of 5,500MW under round four of the PIF programme in September last year, three months after the contracts were signed.

  The solar PV projects and their capacities are:

  • Haden solar PV: 2,000MW
  • Muwayh: 2,000MW
  • Al-Khushaybi: 1,500MW

  The respective project companies that have been formed for the three projects are Buraiq Renewable Energy Company, Moya Renewable Energy Company and Nabah Renewable Energy Company.

  Acwa Power’s shareholding in each of the three projects is 35.1%. The (PIF-backed Water & Electricity Holding Company (Badeel) owns 34.9% and Saudi Aramco Power Company (Sapco), a subsidiary of state majority-owned oil giant Saudi Aramco, owns the remaining shares.

  The three solar PV facilities have a combined value of SR12.3bn ($3.3bn) and are expected to become operational in the first half of 2027.

  The project companies signed financing documents amounting to SR9.7bn ($2.6bn). The financing duration is 27.3 years.

  PIF solar PV projects

  The three, 5.5GW round-four projects have taken the total capacity of solar PV projects being developed by Acwa Power and its partners under the PIF Price Discovery Scheme to around 19.1GW, involving investment of over $12.3bn.

  The other projects include the 1.5GW Sudair solar PV which is operational; and the 2.06GW Shuaibah 2, Ar Rass 2, Al-Kahfah and Saad 2, which are under construction.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13885685/main.jpg

  Jennifer Aguinaldo