OUR MISSION
Vision Industries relentlessly pursues to harness and localize green energy technologies to enhance and sustain the quality of life in our communities in the Middle East and Africa.
Our Objective
Vision Industries was established to catalyze the build-up and localization of supply chains in the Solar PV, Wind, Energy Storage and Green Hydrogen sectors. We plan to achieve that by forging partnerships with industry leaders, spurring innovation, and capitalizing on our stakeholder experience and the opportunities in Saudi Arabia and the Middle East.
Our partnerships focus on different parts of the value chain, with the aim to build regionally competitive, export oriented, innovative and market leading businesses.
Brief History
In line with Vision 2030, the National Renewable Energy Program (NREP) is a strategic initiative, which aims to increase the Kingdom’s share of renewable energy production, to achieve a balance in the mix of local energy sources, and to fulfill the Kingdom’s plan to achieve net-zero greenhouse gas emissions. As such and coupled with a series of key enablers and comprehensive regulatory frameworks, the expansion of renewable energy in the Kingdom presents a unique opportunity to attract the world’s most advanced technologies and to develop a new industry for clean technology; This new industry will create jobs, develop talent, attract funding, and will act as a catalyst in transforming the Kingdom into an environmentally friendly energy powerhouse.
Vision Industries was established in 2021 by two large Saudi groups, Abunayyan Holding and Al Muhaidib Group to catalyze the build-up and localization of supply chains in the Solar PV, Wind, Energy Storage and Green Hydrogen sectors. Vision Industries aim to capitalize on the expansion of the renewables market and increasing local content requirements in Saudi Arabia and the Middle East. We plan to achieve that by forging partnerships with industry leaders, spurring innovation, and capitalizing on our stakeholder experience and the opportunities in Saudi Arabia and the Middle East.
Partnership Between Two Leading Saudi Arabian Conglomerates
Abu Nayyan Holding and Al Muhaidib Group are two prominent Saudi group conglomerates with diversified business interests spanning multiple generations. The groups have built robust legacies across more than 30 companies in various industries through their long-term approach to investments and partnerships.
Founded in 1980, Abu Nayyan Holding is one of the largest group business groups in Saudi
Arabia with diversified interests across various sectors.
With headquarters in Riyadh, the group’s core businesses include commercial banking and asset management having a portfolio value of over $10 billion. Abunayyan was an early pioneer in Islamic finance and its commercial banking subsidiary is globally recognized as a leader in the field.
The group also has strategically important investments in healthcare as the majority shareholder of one of Saudi Arabia’s largest private hospital operators. Other sectors include real estate development, construction and logistics through various partnerships and joint ventures.
Internationally, Abunayyan has played an influential role in numerous consortiums investong in high-growth markets like Southeast Asia and East Africa through its investment banking arm. The group is known for its methodical and long-term approach to building businesses.
Founded in 1943 and headquartered in Dammam, Al Muhaidib Group is one of the largest investment conglomerates in Saudi Arabia with over 77 years of experience. The company was started by the Al Muhaidib group and has grown over three generations.
Al Muhaidib Group has diversified investments across four core sectors - food & consumer, industrial & infrastructure, real estate, and financial investments. As a pioneering partner in Saudi Arabia's development, the group's portfolio includes positions in both public and private companies across the kingdom and broader Middle East region.
With a long-term investment philosophy, Al Muhaidib Group works closely with its partner companies to provide insights on international best practices to grow their businesses. The group aims to continuously create value through its investments and is committed to the sustainable success of all its businesses.
