INVESTMENT WATCH-

The Royal Commission for Jubail and Yanbu inked an agreement with Neom’s Topian to establish a SAR 1.9 bn aquaculture project in Jazan Special Economic Zone, according to a post on X. The initiative will span some 100k sqm and field a production capacity of 10k tons a year while creating 120 new jobs.

Topian? Neom launched the food company back in December 2023, aiming to develop sustainable food solutions with a focus on climate-resistant agriculture, regenerative aquaculture, innovative foods, nutrition, and sustainable supplies and ESG.

REMEMBER- Neom also launched a joint venture with Tabuk Fisheries, dubbed Topian Aquaculture JV, in February of last year with the aim of developing the largest fish hatchery in the Mena region by the end of 2024. The initiative was originally set to have a capacity of 42 mn fingerlings, and marine-pen production facilities with a targeted output of 20k tonnes of finfish annually.

M&A WATCH-

Egypt’s Logic Holding nabs majority stake in Nexel to boost Saudi presence: Cairo-born management consulting group Logic Holding acquired a majority stake in Dubai-headquartered management consulting Nexel Partners for an undisclosed sum, according to a press release (pdf). While the exact size of Logic’s ownership in Nexel was not disclosed, the acquisition plays right into the company’s growth plans across key markets in the region. Nexel also has offices in Riyadh and Cairo.

Eyeing Saudi growth: “Logic will prioritize expanding its Saudi Arabian footprint, capitalizing on the Kingdom’s rapid digitalization, before scaling across the Gulf. This targeted approach ensures the firm meets escalating demand while delivering integrated, future-ready solutions,” the release read.

LOGISTICS-

Gaca has inaugurated Saudi’s first Air Cargo Security Control Center in Riyadh, the authority said in a statement. The newly established center represents a unified platform that will enhance supply chain security through remote inspection, surveillance, and real-time decision-making utilizing the Washaj platform. The facility will run 24/7, and employ IoT and risk analytics to monitor security across 40 cargo agencies in four regions.

REAL ESTATE-

NHC set to have a new platform for connecting its contractors and vetted suppliers: Digital procurement software developer Penny Software signed an agreement with the National Housing Company (NHC), and virtual building materials industrial park Watad to develop a digital procurement platform, Supply Pro, to facilitate connection between NHC contractors and vetted suppliers, according to a LinkedIn post. The platform aims to reduce operational costs, speed up processes, and enhance decision-making. No timeline or investment ticket was disclosed.

FINANCIAL SERVICES-

Global payment and compliance solutions provider Eastnets will be offering Swift payments solutions in Saudi Arabia through its newly-launched Swift Service Bureau in the Kingdom, it said in a statement. The Eastnets KSA Service Bureau will be built on Google Cloud and will comply with the Kingdom’s data sovereignty and privacy laws, as well as global standards such as Swift CSP and ISO 20022.

TELECOMS-

Etihad Etisalat (Mobily) successfully landed the 10-km Africa-1 submarine cable in Duba, according to a press release. The advanced cable — set to go online early next year — has a 96 Tbps capacity and is set to improve broadband connectivity and support 5G, AI, and cloud services across Africa, the Middle East, Asia, and Europe. Mobily is participating in the cable project with a consortium of eight parties.

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