SAUDI-FUND-DEVELOPMENT
A delegation from the Saudi Fund for Development (SFD), headed by the Director General of Asia Operations at the Fund, Dr. Saud bin Ayed Al-Shammari, laid the foundation stone for the Rehabilitation and Construction of the Facilities Adjacent to the Coastal Road (Vlora – Orikum) project, in the Republic of Albania. The project is funded by SFD with a development soft loan of USD30 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221214005566/en/
SFD delegations and Albanian officials at the ceremony to lay the foundation stone for the project (Photo: AETOSWire)
Aimed at developing the infrastructure sector in the Republic of Albania, the 11 km project aims to rehabilitate and raise the standards of service provision for the adjacent area of the beach – coastal road (vlora – orikum). This includes rehabilitating public facilities and providing essential services such as water, electricity, and sanitation to the beach areas.
In addition to enhancing trade and economic levels in the country, the project will help achieve a number of sustainable development goals, including Goals 11, 15 and 17 concerned with creating sustainable cities and communities, improving life on land, and strengthening development partnerships.
In recognition of the Kingdom’s development efforts through SFD in the Republic of Albania since 2009, H.E. Minister Mirela praised the depth of the relationship and joint development cooperation between the two countries, indicating that this project will contribute to supporting growth and creating many job opportunities.
His Excellency Mr. Faisal Hifzy, the Ambassador of Saudi Arabia to Albania, pointed out the importance of this project and its impact on Albanian citizens, reflecting the commitment from Government of the Kingdom of Saudi Arabia through the Fund to support development projects in different countries, including the Republic of Albania, which has close ties to the Kingdom.
Commenting on the project, Dr. Saud Al-Shammari noted that this project signifies the commitment from the government of the Kingdom of Saudi Arabia, through SFD, to supporting development projects in the Republic of Albania. He praised the joint development efforts with the Republic and wished the Albanian government and people further progress and prosperity, emphasizing that this project signifies great development in the country.
Over the past years, in addition to this project, SFD has provided four development loans to contribute to funding three development projects valued at more than USD 114.5 Million, aimed at achieving the country’s sustainable development goals.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005566/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NetApp Advances EMEA & LATAM Presence with Appointment of Willem Hendrickx as Customer Demand for AI Accelerates8.12.2025 16:15:00 CET | Press release
A leader in driving enterprise transformation, Hendrickx brings nearly three decades of experience, strengthening global partner ecosystems and customer relationships across regions NetApp (NASDAQ: NTAP), the intelligent data infrastructure company, today announced the appointment of Willem Hendrickxas Senior Vice President and General Manager, EMEA & LATAM, effective January 5, 2026. Hendrickxwill lead NetApp’s business strategy, go-to-market execution, and partner engagement across Europe, the Middle East, Africa, and Latin America. Reporting to NetApp President César Cernuda, Hendrickx brings a deep regional knowledge and track record of building high-performing teams, further enabling the acceleration of NetApp’s international footprint by helping global customers navigate the evolving demands of hybrid cloud and AI-driven data infrastructure. Hendrickx holds a Master’s degree in Applied Economics from KU Leuven and is based in Brussels, Belgium. “Willem joins NetApp at a pivotal t
MediaKind and Harmonic’s Video Business to Combine, Creating a Leading Streaming-Infrastructure Platform8.12.2025 15:37:00 CET | Press release
Combined business will be the #1 independent comprehensive streaming-infrastructure platformBrings together complementary product teams to drive faster advancement across cloud and appliance technologiesFurthers MediaKind’s mission to redefine the future of media and entertainment through advanced video technology MediaKind, a global leader in cloud-based video streaming technology, today announced it has entered into an agreement to acquire the Video Business of Harmonic Inc. (NASDAQ: HLIT) for approximately $145 million. Following a French employee works council consultation process, the parties would immediately execute a purchase agreement, and the transaction would be expected to close in the first half of 2026, subject to customary regulatory approvals and closing conditions. The transaction creates a world-class independent SaaS streaming infrastructure provider by combining two established video technology organizations with complementary strengths in SaaS streaming, appliance
PHOTRON LIMITED Announces Acquisition of AOS Technologies AG8.12.2025 15:00:00 CET | Press release
~ Accelerating Expansion of High-Speed Camera Business ~ PHOTRON LIMITED, a global leader in high-speed and scientific imaging solutions, today announced its acquisition of AOS Technologies AG, a Swiss-based designer and manufacturer of advanced high-speed imaging systems serving automotive, aerospace, industrial, and defense markets. Founded in 2002, AOS Technologies has earned worldwide recognition for its engineering innovation, rugged imaging platforms, and application expertise. The acquisition strengthens PHOTRON’s global strategy to expand technical capabilities, accelerate innovation, and grow its presence across high-performance imaging markets. “AOS Technologies brings engineering depth and a strong product portfolio that is complementary to PHOTRON’s long-term vision,” said Takashi Takimizu, President of PHOTRON LIMITED. “As PHOTRON continues to strengthen its growth strategy through targeted M&A activity and strategic business alliances, this partnership reflects our commit
iFIT and F45 Training Announce Global Partnership to Bridge Digital and Studio Fitness8.12.2025 15:00:00 CET | Press release
Strategic Content Licensing and Co-Production Deal Connects iFIT’s Members to In-Studio F45 Training Experience iFIT, a global leader in connected fitness, content, and equipment, and F45 Training, a leading global fitness community and franchise, today announced a new global partnership that will redefine the member experience by seamlessly integrating at-home digital training with in-studio community fitness. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208170773/en/ Launching December 8, the collaboration combines F45 Training’s world-class, high-intensity functional training methodology with iFIT’s immersive workout production capabilities and expansive global platform. Integrated Fitness Collaboration This strategic partnership is built on two key pillars designed to drive engagement for both platforms: Premium Digital Content Access: iFIT will license and feature a curated collection of F45 Training’s signature fu
Boomi Named a 2025 Geo and Global AWS Partner Award Finalist8.12.2025 15:00:00 CET | Press release
Boomi recognized as Rising Star Partner of the Year (Technology) finalist that helps customers drive innovation Boomi™, the leader in AI-driven automation, today announced it is a finalist for a 2025 Geography and Global AWS Partner Award, recognizing leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). Boomi is excited to announce it has been named a finalist for Rising Star Partner of the Year (Technology), which honors the top AWS Partner that has seen significant year-over-year growth in their Technology business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208700959/en/ Boomi Named a 2025 Geo and Global AWS Partner Award Finalist The Geography and Global AWS Partner Awards recognize a wide range of AWS Partners that have embraced specialization, innovation, and cooperation over the past year. Geo and Global AWS Partner Awa
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom