Basil Al Ghalayini, CEO of BMG Financial Group and the financial advisor to Dalipal Holdings Ltd.
Basil Al Ghalayini, CEO of BMG Financial Group and the financial advisor to Dalipal Holdings Ltd., a company specialized in the manufacturing of oil, gas, and hydrogen pipes and listed on the Hong Kong Stock Exchange, stated that Dalipal intends to expand into the Saudi market by establishing an export-oriented industrial platform in King Salman Energy Park. 
Dalipal obtained approvals from the Ministry of Investment, Ministry of Industry, Ministry of Energy, Saudi Aramco, and King Salman Energy Park in Dammam to establish the platform, which will serve the markets of the Gulf countries, Europe, and the United States, Al Ghalayini added in an interview with Argaam on the sidelines of the Capital Markets Forum.
For more news and details on the projects
He pointed out that this expansion is supported by favorable factors in the Kingdom, such as energy availability, logistics infrastructure, and raw material availability.
The demand for Dalipal products remains high, the CEO noted, adding that the company boasts advanced pipe manufacturing technologies, relying on AI, which gives it a competitive edge compared to existing manufacturers in Saudi Arabia.
Al Ghalayini highlighted that the company received approval from Aramco as a supplier and will begin supplying its products from China until the factory in Saudi Arabia is completed. The factory is expected to start operations by the end of this year, with the construction process anticipated to take about two years.
The project will be financed through a private placement to increase capital by $600 million in the first phase, which is still in the aggregation process after receiving aa no-objection from the Capital Market Authority. A second phase will follow, aimed at raising $1.5 billion by the end of this year.
During the Capital Markets Forum, a consulting agreement was signed between BMG Financial Group and Dalipal to initiate the process of dual listing on the Tadawul platform this year, pending regulatory and supervisory approvals.
Basil Al Ghalayini, CEO of BMG Financial Group and the financial advisor to Dalipal Holdings Ltd.
Basil Al Ghalayini, CEO of BMG Financial Group and the financial advisor to Dalipal Holdings Ltd., a company specialized in the manufacturing of oil, gas, and hydrogen pipes and listed on the Hong Kong Stock Exchange, stated that Dalipal intends to expand into the Saudi market by establishing an export-oriented industrial platform in King Salman Energy Park.
Dalipal obtained approvals from the Ministry of Investment, Ministry of Industry, Ministry of Energy, Saudi Aramco, and King Salman Energy Park in Dammam to establish the platform, which will serve the markets of the Gulf countries, Europe, and the United States, Al Ghalayini added in an interview with Argaam on the sidelines of the Capital Markets Forum.
For more news and details on the projects
He pointed out that this expansion is supported by favorable factors in the Kingdom, such as energy availability, logistics infrastructure, and raw material availability.
The demand for Dalipal products remains high, the CEO noted, adding that the company boasts advanced pipe manufacturing technologies, relying on AI, which gives it a competitive edge compared to existing manufacturers in Saudi Arabia.
Al Ghalayini highlighted that the company received approval from Aramco as a supplier and will begin supplying its products from China until the factory in Saudi Arabia is completed. The factory is expected to start operations by the end of this year, with the construction process anticipated to take about two years.
The project will be financed through a private placement to increase capital by $600 million in the first phase, which is still in the aggregation process after receiving aa no-objection from the Capital Market Authority. A second phase will follow, aimed at raising $1.5 billion by the end of this year.
During the Capital Markets Forum, a consulting agreement was signed between BMG Financial Group and Dalipal to initiate the process of dual listing on the Tadawul platform this year, pending regulatory and supervisory approvals.
