DEBT WATCH-

Saudi Export-Import Bank (Saudi Exim) signed a USD 15 mn credit line agreement with Pakistani private lender Bank Al Falah to support Saudi non-oil exports to the South Asian country, according to a post on X.

TOURISM-

A rural tourism initiative coming to Taif tomorrow: The Sustainable Agricultural Rural Development Program (Saudi Reef) will roll out an initiative on Wednesday to promote rural tourism in Taif, state news agency SPA reports. The initiative will offer interactive activities and sessions on traditional farming practices. It will also feature 22 booths showcasing roses, aromatic plants, and handicrafts, among others.

HEALTHCARE-

Scientific andMedical Equipment House was awarded a SAR 105.1 mn contract by Riyadh’s First Health Cluster to maintain and repair medical equipment at several hospitals affiliated with the cluster, it said in a disclosure to Tadawul. The five-year contract, which kicks in 2Q 2025, covers King Salman Hospital, Al-Iman Hospital, Imam Abdulrahman Al-Faisal Hospital, Convalescent Hospital, and the Dental Complexes.

MANUFACTURING-

UAE-based The Marine Barrier Company (Ecocoast) opened a new factory in Yanbu Industrial City, according to a press release. The facility, located along the Red Sea coast, will produce a variety of marine barriers and offer turnkey marine solutions and 24/7 operational support. The facility, currently operational, will officially see a grand opening next month.

MINING-

Six local and global mining companies qualified for the government’s Exploration Enablement Program (EEP), according to a post on X from the Industry and Mineral Resources Ministry. The qualified companies are homegrown Ajlan & Bros Holding, Gold and Minerals Company (GMCO), Amak Mining Company, and Ma'aden, along with Jersey-based Royal Road Minerals, and UK-based EV Metals Group (EVM).

TRADE-

Al Jouf Cement to export its products to Syria: Al Jouf Cement Company and Mohammed Shahi Al Ruwaili Contracting inked a SAR 38 mn contract to export cement and clinker goods to Mohammed Shahi Al Ruwaili Contracting, which will then export the products to Syria, according to a disclosure to Tadawul. The agreement will go into effect from 2 February 2025 until 28 February, 2026.

The Kingdom has been pressing the west to ease sanctions on Syria to boost reconstruction efforts, arguing that “sanctions will hinder the aspirations of the Syrian people to achieve development,” Foreign Minister Faisal bin Farhan Al Saud said last week, according to Reuters.

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