INFRASTRUCTURE-

VATech Wabag landed a USD 371 mn EPC contract for the Al Haer sewage treatment plant in Riyadh, it said in a disclosure to the Indian Exchange (pdf). Wabag will lead the design and construction of the plant in partnership with Mutlaq Al Ghowairi Contracting Company.

REMEMBER- The consortium behind the Al Haer sewage treatment plant, including Marafiq, Miahona, and Besix, secured financial closure for the SAR 1.5 bn project earlier this week, with financing from Banque Saudi Fransi, Arab Petroleum Investment Corp, and Riyad Bank.

About the project: The Al Haer sewage treatment plant, operating under a 25-year Build, Own, Operate, and Transfer (BOOT) model, with a daily treatment capacity of 200k cubic meters, is set to begin operations in December 2026. It will also feature a 32 km treated sewage effluent (TSE) system with a daily capacity of 400k cubic meters.

OIL & GAS-

Saudi Steel Pipe (SSP) subsidiary lands SAR 910 mn contract with Aramco: Global Pipe Company, a consolidated subsidiary of Tadawul-listed SSP, received a SAR 910 mn order to supply LSAW pipes for Aramco’s accelerated carbon capture and sequestration project in Jubail, according to disclosure to Tadawul. The contract runs for up to 15 months.

REMEMBER- Aramco’s project is set to become the largest in the world when it begins production in 2027 or 2028, with a forecasted storage capacity of 9 mn tons.

M&A-

#1- Nomu-listed management consulting firm Tharwah plans to increase its acquisition offer for Amjad Watan for Exhibitions and Conferences Management to 100%, up from the originally proposed 49%, according to a disclosure to Tadawul. Details regarding the transaction’s size and timeline have not been made public yet.

ICYMI- Tharwah tapped Mekyal Financial Technologies as a financial advisor to oversee the transaction in December, after signing a binding MoU to acquire the originally proposed stake in a six-month time.

#2- Pubbles is now part of Mush Social: Mush Social finalized the acquisition of social media app Pubbles as it seeks to expand its user base and digital footprint, according to a press release. Technical integration of both platforms will begin within three months. The value of the agreement were not disclosed.

About the platforms: Mush Social, founded in 2022, enables users to share photos, videos, messages, and music through public posts and private chats, with interactive points earned from engagement to promote posts. The company closed a USD 1.2 mn pre-seed round in November. Pubbles, launched in 2020 under KAUST’s Taqadam Accelerator and Misk Launchpad, focuses on privacy, allowing users to create private “Pubbles” for secure, judgment-free community interactions.

AVIATION-

Panasonic Avionics will provide comprehensive in-flight entertainment maintenance services for Riyadh Air’s fleet of 32 Boeing 787 Dreamliners under a ten-year turnkey agreement, according to a press release from Panasonic Avionics. No financial information was provided for the agreement, set to go into effect once Riyadh Air begins commercial operations in late 2025.

ALSO- Panasonic Avionics will set up a new maintenance, repair, and overhaul (MRO) services station in Riyadh, specializing in Dreamliner systems. It will hire, train, and educate local staff to support the facility.

ENTERTAINMENT-

Six Flags will manage two of Qiddiya’s theme parks: PIF’s Qiddya Investment Company signed a comprehensive Management Services Agreement to have US-based Six Flags Entertainment Corporation manage and operate two Saudi theme parks — Six Flags Qiddiya City and Aquarabia Water Theme Park— set to open in late 2025, according to state news agency SPA. The value of the agreement was not disclosed.

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