Alfanar Construction Announces Rebrand to Alfanar Projects; Reveals Unprecedented $25bn Portfolio
07.24.2023 By TankTerminals.com News - NEWS

July 24, 2023 [Construction week]- Alfanar Construction, a subsidiary of the Saudi conglomerate Alfanar Group, has recently revealed its new identity and website.

 

The company’s name has been officially changed to “Alfanar Projects” to better represent its transformation into a comprehensive global project developer, offering engineering, construction, and technology solutions.

Founded in 1976 in Riyadh, the company has witnessed immense growth over the past four decades. Several divisions and business units have been established to provide integrated solutions across grid, water, infrastructure, renewable energy, healthcare, process, and digital sectors.

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. Additionally, 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.  

During the launch ceremony, Sabah Al Mutlaq, Managing Director of Alfanar Projects and Vice Chairman of Alfanar Group remarked: “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.”

He added: “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. This is a new era for Alfanar Projects, and we look forward to playing a pivotal role in addressing global challenges.”     

As a global company with Saudi roots, Alfanar Projects is playing its part in supporting the realisation of the ambitious Saudi Vision 2030 through renewable energy and infrastructure projects, and through ground-breaking digital transformation projects such as the installation of five million smart meters across the central and eastern regions of Saudi Arabia.

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