Nesma gets Emaar’s KAEC contract + Riyadh Air, Flynas add new routes

Emaar hands Nesma a SAR 547 mn contract to build out KAEC’s automotive cluster. Emaar, the Economic City, awarded a SAR 547.4 mn contract to Nesma and Partners Contracting to build infrastructure networks within King Abdullah Economic City’s (KAEC) Industrial Valley, according to a Tadawul disclosure. The 18-month project covers phase one of the King Salman Automotive Cluster, other strategic projects within the Industrial Valley, alongside infrastructure for existing tenants. PIF, a major Emaar shareholder, owns 30.1% of Nesma.

REMEMBER- The contract comes after Emaar put its finances in order. The company completed its SAR 8.7 bn capital optimization plan by end-2025 — rescheduling banking facilities, securing a new shareholder loan, and reducing capital to offset accumulated losses — then raised capital through debt conversion and new share listings.

Riyadh Air, Flynas add new routes

Riyadh Air has opened ticket sales for daily Mumbai-Riyadh flights, its first Indian route, launching 4 August, according to a press release. The service operates on Boeing 787-9 Dreamliners and brings Riyadh Air’s total network to nine destinations, with more to be announced in the coming weeks.

Moving fast: The newly airborne carrier launched its first domestic flight linking Riyadh and Jeddah last month, days after its first commercial international flight to London Heathrow. Since then, it has added Dubai, Cairo, Kuala Lumpur, Malaga, Dhaka, Madrid and Manchester to its destinations.

PLUS- Low-cost carrier Flynas earlier this week launched a weekly direct service between Jeddah and Rabat, its first route to the Moroccan capital, it said in a press release. The launch adds to the carrier’s existing three-weekly Jeddah-Casablanca service, which started in 2023, expanding its Morocco footprint to two cities.