EVs-

Aramco + BYD to explore EV technologies: Saudi Aramco Technologies Company and BYD signed a joint development agreement to bring together their research and development teams to explore new energy vehicle technologies, according to a press release. The pair will target enhanced efficiency and environmental performance.

ICYMI- Aramco purchased in December a 10% stake in next-gen vehicles company Horse Powertrain — a JV between French carmaker Renault and China’s Geely. Aramco’s subsidiary Mukamalah Aviation partnered with US eVTOL manufacturer Joby Aviation last year to deploy eVTOLs in Saudi Arabia.

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OIL WATCH-

Aramco taps KBR for SRU upgrade: Saudi Aramco has awarded Saudi FEED specialist KBR-AMCDE a contract to upgrade the Sulfur Recovery Units (SRU) at its Haradh and Hawiyah gas plants, according to a statement. The upgrade would increase sulfur recovery efficiency from around 95% to 99.9% and reduce sulfur emissions from 4.3k ppmv to 250 ppmv, aligning with regulations set by the Ministry of Environment, Water, and Agriculture. The company aims to reach net zero scope 1 and 2 emissions by 2050.

M&A WATCH-

AlareebHolding acquired 80% of Al Janbain Media Production to expand its presence in the audiovisual production sector, the company said in a post on Linkedin. The value of the transaction was not disclosed.

ICYMI- Earlier this month, Alareeb Holding acquired 80% of HR solutions provider VTCHR and 30% of local engineering consultancy services company Pioneer Landmarks for undisclosed amounts.

LOGISTICS-

Mawani expands Jeddah Islamic Port links: The Saudi Port Authority (Mawani) added CStar Line’s shipping service IMB1 to Jeddah Islamic Port, state news agency SPA reports. The new service, which boasts a capacity of 2.1k TEUs, will connect the Jeddah port to the ports of Nhava Sheva and Mundra in India, Evyap in Turkey, Novorossiysk in Russia, and Jebel Ali in the UAE.

ICYMI-Last month, Mawani added Culines’ JPS shipping service to Jeddah Islamic Port, connecting it to Port Sudan with a capacity of 450 TEUs.

EXPANSION-

Pepsico opened its expanded regional headquarters in Riyadh’s King Abdullah Financial District, covering 2.8k sqm and accommodating over 150 employees, according to a press release. The company also plans to set up a SAR 30 mn research and development center, including a culinary facility and sensory studio, this year in Saudi Arabia for product and packaging innovation.

Big footprint: The company invested over SAR 9 bn in Saudi Arabia in the last eight years, including a SAR 199 mn factory expansion in Dammam in 2023, and acquired land lease rights worth SAR 9.5 mn in Riyadh’s second industrial city from Naqi Water last year.

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