Saudi major Alfanar Group’s subsidiary has been changed to ‘Alfanar Projects’ in order to better reflect its evolution into a full worldwide project developer that provides engineering, construction, and technology solutions and also unveiled its new branding and website
The firm, which was established in Riyadh in 1976, has experienced tremendous development over the previous 40 years.
To offer integrated solutions across the grid, water, infrastructure, renewable energy, healthcare, process, and digital sectors, a number of divisions and business units have been developed.
In the last decade, Alfanar Projects, through its project development arm, has also forayed into sustainable development with a growing portfolio of 1.75 GW renewable energy projects including wind farms in India and Spain, and a solar park in Egypt.
It is also developing and constructing the most advanced sustainable aviation fuel (SAF) facility in Europe – ‘Lighthouse Green Fuels’ in Teesside, UK.
Moreover, this year, Alfanar Projects announced an investment of SAR 10 billion in a public-private partnership (PPP) with NEOM to develop and operate sustainable residential communities.
Speaking at the launch ceremony, Sabah Al Mutlaq, Managing Director of Alfanar Projects and Vice Chairman of Alfanar Group said, “From our humble beginnings as a local contractor in Kingdom of Saudi Arabia more than four decades ago, we have evolved into a global force with an overall estimated portfolio size of $25 billion. This rebrand underscores our growth and solidifies our business plans to further acquire new technologies and expand into new markets.”
On Alfanar’s rebranding exercise, he said, “We have constantly embraced a culture of innovation and invested in research & development. Our core value of quality, and our commitment towards client satisfaction has also helped us in creating an unrivalled reputation that we are well known and trusted for. ”
On future prospects, he said, “This is a new era for Alfanar Projects, and we look forward to playing a pivotal role in addressing global challenges.”
According to the Saudi major, Alfanar Projects, a multinational organisation with Saudi roots, is helping to realise the ambitious Saudi Vision 2030 through renewable energy and infrastructure projects and through ground-breaking digital transformation initiatives like the installation of five million smart meters throughout the country’s central and eastern regions.