MEGAPROJECTS

The PIF’s Diriyah Company awarded a USD 113.6 mn architecture and design contract to Riyadh-based Omrania, according to Zawya. The agreement will see Omrania designing and overseeing the development of buildings across three community areas within Diriyah’s Boulevard District. No timeline for the project was given.

DEBT WATCH-

Riyadh-based Filling andPacking Materials Manufacturing Co. (Fipco) lined up a SAR 50 mn shariah-compliant revolving loan with Al Rajhi Bank, it said in a filing to Tadawul. The one-year facility will be used to finance the company’s working capital.

INS.-

Liva Ins. received a Baa2 IFSR rating from Moody’s with a positive outlook, it said in adisclosure to Tadawul. A strong capital base, good asset quality, healthy reserves, and solid profitability underpinned Moody’s rating. Additionally, Liva Ins. was assigned a Governance Issuer Profile Score (IPS) of G-2 by Moody’s, backed by strong governance, conservative financial strategy and risk management, and involvement from key shareholders, Liva Group and Riyad Bank.

INFRASTRUCTURE-

#1- PIF’s National Water Company awarded Germany’s Dorsch Global a SAR 800 mn engineering consultancy contract to oversee water and wastewater projects across the Kingdom, it said in a press release. The five-year agreement will see Dorsh manage some 253 domestic projects into two clusters, the southern region valued at SAR 490 mn, and the northwestern region worth SAR 336 mn.

#2- Investors can now file proposals for the development of two sewage treatment plants in Makkah to the Saudi WaterPartnership Company, which is seeking bidders for the public-private partnership projects, according to a statement from the company. The plants are expected to start commercial operations in 2028.

FARMING-

Tanmiah’s subsidiary set to build 100 broiler houses with a Chinese firm: Tanmiah Food’s subsidiary Agricultural Development Company signed a SAR 165 mn contract with China’s Chengdu Design and Research Institute of Building Materials Industry Co. (CDI) to build 100 poultry broiler houses starting this month, according to a disclosure to Tadawul. The contract will be financed through a long-term deferred payment plan, with completion expected by December 2026, and commercial production slated for January 2027.

AVIATION-

Saudia will start operating Airbus A320 flights to the UK in March, Simple Flying reports. The 110-seat carrier is scheduled to operate on the 3.9k km route connecting Neom Bay to Gatwick. Saudia has seven aircraft with the same capacity.

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