MIS books third and fourth Humain work orders in under two weeks

Al Moammar Information Systems’ (MIS) Humain contract is converting fast. MIS has booked its third and fourth work orders under its SAR 8.76 bn agreement to build 250 MW of AI data centers for Humain, each worth more than 1.35 times its 2025 revenue, it said in two separate Tadawul disclosures.

That brings the count to four in under two weeks; together they now cover more than 550% of last year’s revenue, roughly four-fifths of the framework. Each runs 16 months, with the financial impact starting in 4Q 2026.

Sharakat to develop a sewage plant in Riyadh

Sharakat received five bids from local and international consortia to develop a sewage treatment plant in Riyadh, according to Zawya. The plant will treat 200k cubic meters of wastewater per day, with capacity expandable to 400k cubic meters, under a 25-year build-own-operate-transfer contract.

Who are the bidders? The five consortia include Miahona, Marafiq and Bin Omairah Holding; GS Inima Environment and Alkhorayef Water and Power Technologies; Metito Utilities, Etihad Water and Electricity Company and TamimCo; Suez, Civil Works Company and Al Awael Modern Contracting Company; and Lamar Holding and China Harbour Engineering Company.

The timeline: The company will evaluate the bids before selecting a preferred bidder, with development expected to begin in 2027 and operations to start in 2030.

Regional energy ambitions

Saudi Arabia has signed three MoUs to boost cooperation with Egypt, Qatar, and Kuwait across various energy sectors, SPA reports. Here’s a rundown of all the agreements signed.

A pipeline project with Doha? The Saudi-Qatari MoU seeks to establish cooperation across oil, gas, refining, petrochemicals, power, clean hydrogen, renewables, and energy storage. It also covers exploring joint opportunities to build pipelines to transport and export oil and gas.

Saudi Arabia and Egypt signed an MoU that aims to enable cooperation in oil, gas, and their products, including their trading, transport, storage, and distribution, as well as related infrastructure and logistics.

The MoU signed with Kuwait aims to establish “a framework for cooperation” in areas such as renewable energy, electrical interconnection, electricity exports, energy storage, smart grids, cybersecurity, and AI.

Ajdan to establish a SAR 5.6 bn coastal project

Ajdan Real Estate Development has launched its SAR 5.6 bn Khobar Pier coastal project in partnership with Ashraq Development, the Tourism Development Fund, and Aljazira Capital, TradeArabia reports. The project will span 671k sqm in Al Khobar, with an 850-m waterfront and 305k sqm of developed area. Plans include 689 residential units, 690 hotel rooms, and 33k sqm of commercial space, with interconnected waterways surrounding a central island and an elevated hill overlooking the Gulf.

Avalon Pharma makes a play for Mounjaro

Avalon Pharma is lining up a weight-loss drug play. The Saudi drugmaker has signed an exclusive license with India’s OneSource Specialty Pharma to register and sell a generic of Mounjaro — the tirzepatide pen used for diabetes and weight loss — across Saudi Arabia and the wider MENA region, as marketing-authorization holder and with the right to move manufacturing in-house later, according to a Tadawul filing. Avalon expects the license to bring in at least SAR 800 mn over its first five years after launch. Launch, though, waits on the relevant patents expiring, which puts that revenue years out.

Separately, Avalon signed a six-month MoU with China’s Aurisco Pharma to develop RNA-based drugs, starting with cholesterol treatment Inclisiran, and to make them in Riyadh.

Autobia raises USD 12 mn

Autobia has raised USD 12 mn in a Series A round led by Artal Capital, with participation from Aljazira Capital and Wa’ed Ventures, Co-founder Ahmed Alawfi posted on LinkedIn. The B2B platform connects auto-parts retailers and wholesalers with verified suppliers, offering sourcing, logistics and payment solutions, including flexible inventory terms and buy now, pay later services through licensed providers.