Dava and NRTC tie-up connects Saudi hydroponics with Dubai distribution networks

GCC food security tie-ups accelerate

GCC food security and supply-chain consolidation efforts are continuing to pick up pace. Fresh produce importer NRTC Holding Group signed an MoU with Saudi agribusiness Dava Agricultural to collaborate on fresh produce sourcing, agricultural trade, and supply-chain operations across the GCC, according to a press release.

Why it matters: The tie-up links one of the GCC’s largest fresh produce distribution networks with one of Saudi Arabia’s biggest hydroponic greenhouse operators. NRTC handles around 1 mn tonnes of fresh produce annually, while Dava currently produces roughly 170 tonnes of vegetables daily from hydroponic greenhouses in Saudi Arabia, with plans to expand capacity further over the coming years.

IN CONTEXT- The move comes as GCC governments and companies step up cross-border food security and supply-chain cooperation amid ongoing regional disruption. Earlier this week, DP World and ADQ-backed Al Dahra announced plans to explore investments in GCC port infrastructure as pressure grows to secure regional food flows while the Strait of Hormuz remains disrupted.

Trukker locks in USD 300 mn cross-border funding with ADCB

Saudi-headquartered digital freight network platform Trukker secured a USD 300 mn cross-border securitization facility, with Abu Dhabi Commercial Bank (ADCB) acting as sole arranger and lender, according to a press release. Trukker will use the financing for working capital to support the company’s operations and expansion plans, including scaling its digital freight network and optimizing its carrier ecosystem across regional markets.

Not your typical bank loan: The non-recourse facility is backed by Trukker’s trade receivables across multiple markets and is structured across the UAE, Saudi Arabia, and Turkey, making it one of the region’s first multi-jurisdictional, asset-backed securitizations. The structure effectively converts future customer payments into tradable financing backed by institutional capital, rather than a conventional loan.

Why it matters: The financing reflects growing bank appetite for exposure to large, revenue-generating digital platforms operating across multiple MENA markets, as well a broader shift toward structured credit tied to operating performance — with companies like Trukker increasingly turning to structured, receivables-backed securitization instead of relying solely on equity funding. Over time, this could provide an alternative funding route for scaled startups with predictable cashflows and cross-border operations.

ADVISORS- White & Case LLP and Paul Hastings provided counsel, while HSBC acted as facility security trustee and account bank across the different jurisdictions.

Aumet closes Series A to scale AI procurement OS

Healthtech firm Aumet raised USD 12 mn in a Series A funding round led by Emkan Capital to expand its AI-related tools, scale its pharma platform, and enter additional GCC markets, according to a press release. The round saw participation from Qatar Development Bank, Sabah VC, and AAIC, alongside existing backers Shorooq Partners and Right Side Capital Management

Ades secures USD 48.2 mn rig contract in Nigeria

Ades secured its second rig contract in Nigeria this month. Ades Holding was awarded an SAR 180.7 mn (USD 48.2 mn) one-year contract by Belbop Nigeria for its Main Pass IV standard jack-up rig, according to a press release (pdf). Operations are expected to begin in 3Q 2026, with a one-year extension option included.

The company is ramping up its footprint in the African country. Ades partnered with Seplat Energy earlier this month to provide offshore drilling services in Nigeria under a SAR 347.6 mn contract, following a separate agreement to deploy rigs for West African Exploration Company under a SAR 2.7 bn agreement.

Standard Chartered is open for investment business in the Kingdom

Standard Chartered Capital Saudi Arabia is stepping into the securities business, having secured the Capital Market Authority’s green light to begin managing investments and operating funds, according to a statement.