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MANUFACTURING-
FIT Hon Teng, Saleh Suleiman Alrajhi JV breaks ground on EV charger plant at Spark: Foxconn’s subsidiary FIT Hon Teng and its Saudi partner Saleh Suleiman Alrajhi & Sons kicked off construction on a new manufacturing facility for their joint venture Smart Mobility at King Salman Energy Park (Spark) in Dammam, according to a press release.
The details: The plant will produce several EV charger models and a charging point management system (CPMS) that has undergone six months of local testing. Smart Mobility said three charger products have secured SASO certification, and the CPMS is expected to enter commercial operation in 1H 2026. The 9.5k sqm facility is scheduled for completion in 3Q 2026, with production slated to start in 4Q 2026 following verification.
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LOGISTICS-
The Saudi Ports Authority (Mawani) added the China Red-Sea shipping service to Jeddah Islamic Port, linking it to six regional and international ports, it said in a statement yesterday. The service — operated by Global Feeder Shipping, RCL, and TS Lines — links Jeddah to the ports of Shanghai, Qingdao, Nansha, and Shekou in China, as well as Sokhna in Egypt and Aqaba in Jordan, with a capacity of 441 TEUs.
TOURISM-
The Tourism Development Fund secured partnerships worth more than SAR 4 bn to expand financing options for micro, small, and medium tourism businesses with six agreements and one MoU with public- and private-sector partners, the fund said on X.
The breakdown: The agreements include a SAR 700 mn program with Kafalah involving more than 45 financing partners, a SAR 300 mn financing agreement with the Arab National Bank, and four agreements worth a combined SAR 200 mn with Aljabr Finance, Al Tayseer, Alraedah Finance, and Tamweel Aloula — building on an earlier SAR 250 mn cooperation, state news agency SPA reports. It also signed an MoU with the Small and Medium Enterprises Bank to develop better development-financing models.
