MANUFACTURING-

Dussur, Baker Hughes inaugurate chemicals manufacturing facility: The Saudi ArabianIndustrial Investments Co. (Dussur) opened with US oilfield services provider Baker Hughes a chemicals manufacturing plant in Jubail that will produce oilfield, power generation, and industrial chemicals, a statement by Baker Hughes read yesterday.

We knew this was coming: The facility is part of a JV announced between Dussur and Baker Hughes in 2022. Baker Hughes owns a 51% stake in the JV, while Dussur owns 49%. Dussur is owned by the PIF, Sabic, and Aramco.

HEALTHCARE-

National Medical Care is ready to expand Al-Malaz Hospital under a newly-acquired license from the Health Ministry, it said in a disclosure to Tadawul. The SAR 100 mn project would bring total capacity to 459 beds and 62 clinics.

FINANCE-

#1- Awaed Alosool Capital has received approval from the Capital Markets Authority (CMA) to manage and operate funds as well as hold securities on behalf of clients, according to a disclosure on Tadawul.

#2- Competitiveness Financial now has a fintech permit from the CMA that will allow it to invest in and promote debt instruments, the authority said in a statement yesterday.

EDUCATION-

The Culture Ministry opened the Kingdom’s first specialized college of arts at King Saud University in Riyadh, state news agency SPA reported yesterday. Departments include design, the performing arts, and visual arts with courses ranging from graphic design, fashion, theater, and cinema to music, printing, drawing, sculpture, and Arabic calligraphy.

TECH-

Solutions by stc (79% stc-owned) and Center3 (100% stc-owned) signed an agreement that will see Solutions design and build infrastructure for data centers owned by Center3, Solutions said in a disclosure to Tadawul. The agreement runs for three years and the price tag has a ceiling of SAR 150 mn.

TOURISM-

#1– Dan Company has signed an MoU with Abdulmohsen bin Abdulaziz AlJabr Trading Company that could see the two work together on lodges and farm stays, it said in a statement last week. No further information was provided. Dan is a wholly-owned subsidiary of the Public Investment Fund.

#2- The Saudi Tourism Authority and Switzerland Tourism signed an MoU to improve cooperation in the tourism industry, state news agency SPA reports.

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