INFRASTRUCTURE-

Italy-based Cannon Artes won a contract to design and supply a seawater desalination plant for the 3 GW Hajr Expansion CCGT IPP project in the Eastern Province, it said in a press release yesterday. The facility will treat 34k cubic meters of seawater daily to provide demineralized, potable, and service water for the combined-cycle-gas-fired power plant. No financial details were disclosed.

BACKGROUND- The USD 2.6 bn project is being developed under an agreement signed inMarch by a JV between Acwa Power, Saudi Electricity Company, and Haji Abdullah Alireza & Company, with Orascom Construction and Técnicas Reunidas as EPC contractors.

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M&A WATCH-

Homegrown workforce management solutions startup WakeCap has acquired the Brazilian workforce safety and operations platform Trackfy, as part of its strategy to expand globally and extend its capabilities across the full industrial lifecycle, according to a press release published yesterday. No financial details were disclosed.

The acquisition integrates Trackfy’s operations and maintenance solutions into WakeCap, creating a unified platform that spans from project delivery to daily industrial operations. The move also marks WakeCap’s entry into Latin America, with Brazil serving as its new regional headquarters.

REMEMBER- WakeCap acquired Silicon Valley-based Crews by Corelast year, setting up an R&D base in the US. Beside the last acquisition of Brazil’s Trackfy, WakeCap already operates in the US, Saudi Arabia, UAE, and Japan.

MINING-

Twelve local and global companies were qualified for in the second wave of the government’s Exploration Enablement Program (EEP), the Industry and Mineral Resources Ministry posted on X on Sunday. In collaboration with the Investment Ministry, a total of 38 applications by the selected companies were licensed to mine across an area of 3k sq km, with over SAR 664 mn committed for exploration spending, Al Arabiya reported.

ENERGY-

Aramco’s Jafurah Cogeneration Independent Steam and Power Plant (ISPP) kicked off commercial operation, General Electric’s energy spin-off company GE Vernova said in a press release yesterday. Described as GE Vernova’s first locally-made H-Class gas turbine and set to be one of its most efficient power facilities, the plant — southeast of Dammam — is expected to produce up to 314 tons per hour of steam and 320 MW of electricity. By 2030, the Jafurah gas field is set to deliver up to 630k barrels of natural gas liquids and condensates and over 420 mn standard cubic feet of ethane per day.

FINANCIAL MARKETS-

The Capital Market Authority greenlit the public offering of open-ended, shariah-compliant Arbah Capital’s Arbah SaudiEquity Fund, it said in a statement yesterday.

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