American Business Group

SAWACO is the flagship of Saudi Brothers Commercial Group (SBCG) in the water sector. It is the first private water utility established in Saudi Arabia that got the license of the Ministry of Water & Agriculture in 2000 before IWPP and PPP initiatives were launched. Through diligent investment strategy, continuous development of its human resources and adapting innovative technologies, SAWACO has been considered a pioneer in the water desalination industry in the KSA.It currently owns over 40,000 m³/day desalination capacity with its multi-plants under 24 hours operation. Additionally, Sawaco deployed a fleet of 6 x 1,500 m³/ day (total 9,000 m³/day capacity) SWRO compact units to be deployed anywhere in the world providing temporary water supply for periods ranging from 6 months to 5 years. Most significantly, SAWACO is co-developing the world’s largest SWRO plant with a capacity of 600,000 m3/day jointly with Acwapower at Rabigh 3 IWP. SAWACO has a sizeable fleet of trucks fitted with stainless steel tankers Grade 316-L conforming to HACCP requirement. The ample storage facility of Post-Tensioned Reinforced Concrete water tanks avoid ion exchange between water and tank, and the inner surface of the tanks are coated with food grade epoxy.SAWACO produces and distributes water for different uses and customer categories through customized engineering and production lines. It assures that quality water surpasses standards set by World Health Organization (WHO) and Saudi Arabian Standard Organization (SASO).It is certified by internationally recognized Quality, Environment, Health & Safety Management Systems and Standards such as ISO9001: 2015, ISO14001:2015, ISO45001:2018 & HACCP.SAWACO’s line of business includes BOT and BOO solutions for the provision of desalinated water both public and private sectors throughout the MENA region. In addition, it undertakes Operation & Maintenance of desalination plants all over the MENA region.

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Events

US Consulate General in Jeddah relocates

JEDDAH : The US Consulate General in Jeddah is moving to a new consulate compound in Al-Mohammadiyah district on Sunday after being located on Falasteen Street in Al-Hamra district for over 65 years. The new consulate compound in Al-Mohammadiyah district is close to the new American School building.

US-Saudi diplomatic relations began in 1948 when the US’ first diplomatic mission in Saudi Arabia was located in a traditional house in Jeddah’s old city center, Al-Balad. In 1952, the Consulate General relocated to Al-Hamra district. As Jeddah grew, the city expanded around the Consulate.

The new US Consulate General will be open to the public for business on September 24. The public entrance for all consular services (visas and American Citizens services) is located on the west side of the new consulate on Al-Safa Street. Additional information on the new location can be found here.

Sheikh Khaled Juffali

The ABJ Members and guests were honored to have Mr. Sheikh Khaled Juffali as our guest speaker. His years of successes, depth of understanding, and delightful speech created one of the most notable evenings in our American Business Group’s history. Our group enjoyed hearing about his father’s experiences and business journeys. Mr. Khaled Juffali anecdotes were fascinating giving us a close look at the land, culture, and people that we would not have gained in any other way.

News

2020 USA Presidential Elections

Live interactive map to follow the US Presidential Elections as mail-in votes are still being counted.

Click the map to create your own at 270toWin.com

KSA November 2020 Economy Summary

Key observations from Jedwa Investment report are as follows:

Real Economy: The non-oil PMI rose in September to register its highest reading since February of this year. The rise was supported by private sector output and new orders.
Consumer Spending: POS transitions rose by almost 34% year-on-year in September and by 6.6% month-on-month. Meanwhile more recent weekly data shows POS transactions slowing in October.
SAMA foreign Reserve Assets: SAMA FX reserves declined by $5.9 billion month-on-month in September, to stand at $447.6 billion. We expect FX reserves to total around $430 billion by year-end.
Inflation: Prices in September rose by 5.7% year-on-year, but declined by 0.2% month-on-month, boosted mainly by annual rises in "food and beverages" and "home furnishings."
Bank Deposits: Total bank deposits rose by 3.7 percent year-on-year in July, supported by a significant rise in private demand deposits by 6 percent year-on-year.
Labor Market: Q3 data from the number of Saudis in employment rose by 81 thousand, whilst foreigners declined by 236 thousand.
Real Estate: Prices rose by .5% in Q3 2020, year-on-year, and declined by .6% quarter-on-quarter.
Oil-Global: Brent oil is currently trading around $40per barrel (pb). We expect Brent oil to trade around current levels during the remainder of Q4, with little upside to oil prices as many countries around the world continue to grapple with a second wave in COVID-19 Cases.
Oil-Regional: Saudi crude oil production was flat month-on-month in August at just under 9 mbpd in line with OPEC+ levels.
Stock Market: TASI declined by 4.7% month-on-month, the first monthly decline in seven months, as recent bullish sentiment reversed. It seems that individual investors have been unnerved by a wave of bearish news in relation to rising COVID-19 cases around the world.

American Business Group of Jeddah (ABJ) - Jeddah - Kingdom of Saudi Arabia

ABJ Contact Email Address: manager@abj-sa.com