The hosts invite NDU professor and security expert Col. David Des Roches (Ret.) back on the program for episode 29 to discuss Russia’s invasion of Ukraine and how it impacts the Middle East, as well as the changing role of NATO and energy markets. The hosts and Des Roches also discuss Lucid’s new plant in the Kingdom, the first World Defense Show in Riyadh, and much more.
1:49 – Lucid’s new Saudi plant is official. Lucid announced a long-term plan to bring advanced automotive manufacturing to Saudi Arabia to address global demand.
The plant will be designed for a maximum annual production capacity of 150,000 vehicles. Lucid estimates that the site could result in up to $3.4 billion in value for the company over 15 years. The plant is expected to create “several thousand highly skilled jobs.”
6:25 – Saudi Arabia is hosting its first ever major defense show this week. The World Defense Show begins in Riyadh in just a few days, and the event will showcase the latest in defense industry tech.
Saudi Arabia is one of the top spenders globally on defense.
In 2020, it was the 6th largest spender on defense, plopping down an estimated $57.5 billion on defense, according to SIPRI.
For 2020, Saudi Arabia’s budgeted defense spending is down from that figure, however, at $45.5 billion. That’s a trend in the right direction for Saudi Arabia as it looks to localize half of its defense spending by Vision 2030.
Over 420 exhibitors are registered for the event, which will also feature a special zone for startups in the defense space.
Saudi Arabia created a purpose-built space for this event, which will take place every other year.
11:26 – Ukraine, global security, and the Middle East with David Des Roches.
The situation in Ukraine is constantly evolving. So, too, is the geopolitical situation in the region and world in the aftermath of the invasion.
The hosts and Des Roches discuss why this is, and if it perhaps could change?
53:24 Yallah! Six headlines to get you caught up before the weekend…
According to a report in Arab News, Saudi Arabia on Monday welcomed the UN Security Council’s resolution labeling the Houthi militia fighting in Yemen a terrorist group, in addition to expanding the scope of an existing arms embargo to encompass the entire membership of the Iran-backed group, which was previously limited to specific individuals and companies.
Another week, another big Saudi IPO…Nahdi Medical Co, Saudi Arabia’s market leader in retail pharmacies, aims to raise up to 5.11 billion riyals ($1.36 billion) in the country’s biggest initial public offering since Saudi Aramco’s listing in 2019, according to a report in Reuters.
Saudi Arabia announced the discovery of 5 new gas wells in four separate regions across the Kingdom, adding more natual gas capacity at an important time in the global energy transition.
Local runner Emblem Road runs out an 80-1 shock winner of $20 million Saudi Cup. The Saudi-trained horse rallied with a wide, sweeping move on the outside to win the $20million (£14.9m) Saudi Cup at 80-1 odds. Established in 2020 and organised by the Jockey Club of Saudi Arabia, the Saudi Cup is a two-day international racing festival, headlined by the USD$20m.
Construction for Gulf Railway connecting Qatar to Saudi kicking-off – The construction of the GCC Railway connecting Qatar to neighboring country Saudi Arabia will kick off soon. The 2,177 km Gulf Railway is a proposed railway system connecting all six GCC countries in Eastern Arabia. The project, expected to cost US$250 billion, is scheduled to be completed by 2023. The completion date is not yet estimated.
Saudi Arabia’s newest travel experience is inspired by the renowned Burning Man festival in the US…Caravan by Habitas AlUla will open in March in one of the oldest cities on the Arabian Peninsula. Surrounded by mountains and ancient Nabatean settlements, Caravan AlUla consists of 22 Airstream trailers.
