Saudi Arabia reveals first Ceer cars as EXOBOT sedan and SUV launch $29bn economic drive
Saudi Crown Prince Mohammed bin Salman reveals Ceer's first EXOBOT electric sedan and SUV, with seven models planned and an $8bn GDP contribution targeted by 2034
EIL, a state-owned engineering firm, is exploring potential projects to construct oil pipelines and storage facilities in Saudi Arabia and the United Arab Emirates (UAE). Chairman and Managing Director Atul Gupta disclosed that these projects could be valued at approximately $1 billion, with a projected timeline of 2-3 years for completion.
The UAE and Saudi Arabia are currently constructing two pipelines to circumvent the Strait of Hormuz and augment their storage capacity. However, the Saudi Arabia-based oil pipeline has faced interruptions due to attacks by Houthi rebels, prompting both nations to seek alternatives. In May, the UAE announced plans to double its export capacity via the port of Fujairah by 2027, while Saudi Arabia is contemplating increasing the capacity of its crude oil pipeline along the western Red Sea coast.
Engineers India Ltd (EIL) has established offices in both Saudi Arabia and the UAE, bolstering its global presence. Overseas business contributed significantly to the company's growth in the fiscal year 2026, accounting for nearly 62% of the fresh contracts secured.
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