Latest news with #SIDC
GMA Network
02-07-2025
- Politics
- GMA Network
DENR to submit 'accurate, science-based' info to SC on Samal-Davao connector bridge
The Department of Environment and Natural Resources (DENR) said it will submit "complete and science-based information" to the Supreme Court after it issued a writ of kalikasan in connection with the Samal Island–Davao City Connector (SIDC) bridge project. 'In compliance with the Supreme Court's directive, the DENR will submit a verified return within ten (10) calendar days from receipt of the Order. This non-extendible submission will contain accurate, complete, and science-based information necessary to assist the Court in its deliberation,' said DENR Region XI in a statement. The regional DENR office is one of the respondents in an earlier petition seeking the immediate issuance of a temporary environmental protection order against the SIDC Project, arguing that this will result in irreversible damage to the coral reefs in Paradise Reef and the Hizon Marine Protected Area. The petitioners also sought a writ of kalikasan for the respondents to permanently cease and desist from the construction. A writ of kalikasan is a legal remedy under Philippine jurisprudence that protects a person's constitutional right to a balanced and healthy ecology. But the SC clarified that it is not directing the government to stop the project's construction. DENR Region XI, meanwhile, assured the public that all projects under its jurisdiction comply fully with the Environmental Impact Statement System and other applicable legal requirements. 'We are fully prepared to cooperate with the judicial proceedings and will provide all relevant technical documents, environmental assessments, and compliance records as may be required. The DENR remains an evidence-based institution committed to promoting development that is both sustainable and environmentally responsible,' it said. The toll-free, four-lane SIDC spans 4.76 kilometers and will link Davao City at the R. Castillo–Daang Maharlika Junction to the Samal Circumferential Road. The Department of Public Works and Highways (DPWH) earlier said that the bridge project is at 38% progress rate. The SIDC is being funded through Official Development Assistance from China. The DPWH Unified Project Management Office – Bridges Management Cluster is the project's implementing agency, with China Road and Bridge Corporation as the contractor. —Vince Angelo Ferreras/ VAL, GMA Integrated News
Argaam
02-07-2025
- Business
- Argaam
SIDC subsidiary inks 2 deals for transportation, handling, storage
Saudi Industrial Development Co.'s (SIDC) subsidiary Emdad Logistics signed, on July 1, two contracts for transportation, handling, and storage services with Global Marketing Co. for Sleeping Systems (Sleep High), a subsidiary, and SIDC Ceramic Factory (CASAVIA), a branch of the company. In a statement to Tadawul, the company said that the expected annual contract value for Sleep High contract is SAR 13.84 million, while expected annual contract value for CASAVIA contract stands at SAR 700,140.
GMA Network
01-07-2025
- Politics
- GMA Network
SC issues writ of kalikasan over Samal Island-Davao City bridge project
The Supreme Court (SC) has issued a writ of kalikasan in connection with the Samal Island-Davao City Connector (SIDC) project, the high tribunal's spokesperson Atty. Camille Ting said Tuesday. With the writ in place, Ting said the respondents in the petition are directed to file a verified return within a non-extendible period of 10 days from service of the writ. A writ of kalikasan is a legal remedy under Philippine jurisprudence that protects a person's constitutional right to a balanced and healthy ecology. Ting, however, clarified that the SC is not directing the government to stop the project's construction. She said the SC referred the petitioner's prayer for a temporary protection order (TEPO) to the Court of Appeals in Cagayan de Oro. "If TEPO is granted, then construction will be stopped temporarily," Ting told reporters. This stemmed from a petition asking the SC to order the respondents to permanently cease and desist from the construction of the SIDC. They argued that the construction will result in irreversible damage to corals in Paradise Reef and the Hizon Marine Protected Area. The petitioners are Ecoteneo Director Carmela Marie Santos, Interfacing Development Interventions for Sustainability Executive Director Mark Peñalver, Dyesabel Philippines chairperson Marvelous Camilo, and the Sustainable Davao Movement. Meanwhile, the respondents are the Department of Public Works and Highways (DPWH), Department of Environment and Natural Resources, Samal Island Protected Landscape and Seascape Protected Area Management Board, and the China Road and Bridge Corporation. Upon completion, the SIDC will be a toll-free, four-lane extradosed bridge spanning 4.76 kilometers, linking Davao City at the R. Castillo–Daang Maharlika Junction to the Samal Circumferential Road. On Saturday, the DPWH said the progress rate of the SIDC was at 38%. The project is being funded through Official Development Assistance (ODA) from China. The DPWH Unified Project Management Office – Bridges Management Cluster (UPMO-BMC) is the project's implementing agency, with China Road and Bridge Corporation as the contractor. — VDV, GMA Integrated News
Zawya
19-06-2025
- Business
- Zawya
Saudi SIDC unit signs Islamic facility for $2.6mln
The Saudi Industrial Development Co. (SIDC) said its subsidiary, Emmdad Logistic Services Co., has signed an Islamic financing agreement for 10 million riyals ($2.7 million). The five-year Shariah-compliant deal with the kingdom's Social Development Bank will be used to support the company's capital expansion. The company did not disclose the rate at which the facility was agreed. (Writing by Brinda Darasha; editing by Seban Scaria)
Argaam
19-06-2025
- Business
- Argaam
SIDC subsidiary secures SAR 10M credit facility from SDB
Saudi Industrial Development Co. (SIDC) said that its subsidiary Emdad Logistic Services Co. signed a Shariah-compliant agreement to obtain SAR 10 million facilities from the Social Development Bank (SDB). In a statement to Tadawul, SIDC said the five-year agreement was signed on May 15. The facilities will be used for capital expansions. The amount is fully guaranteed by a promissory note. A performance bond is also provided by Emdad partners: Global Marketing Co. for Sleeping System Ltd. (Sleep High) and Road Storm Trading & Contracting Co. All legal measures were finalized, with the final copy received on June 18.
