Binyah secures early works agreement as Expo 2030 prep ramps up

CONSTRUCTION-

Binyah lands early work agreement for Expo 2030 Riyadh: Saudi Real Estate Company (Al Akaria) signed a four-year framework agreement with Expo 2030 Riyadh Company to have its subsidiary Saudi Real Estate Infrastructure (Binyah) carry out early works for the Expo 2030 Riyadh site, it said in a disclosure to Tadawul. The agreement covers demolition, earthworks, and various logistics activities needed to prepare the site. The financial impact will be determined later based on the assigned tasks, according to the disclosure.

IN CONTEXT- The Kingdom has officially begun preparations for Expo 2030 Riyadh after receiving the Bureau International des Expositions (BIE) host flag from Expo 2025 Osaka last month. The USD 8 bn, six-month event will open on 1 October 2030, drawing an estimated 42 mn visitors and contributing USD 64 bn to the Kingdom’s GDP during development, with an additional USD 5.6 bn while operational.

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M&A WATCH-

Tibbiyah snaps up stake in Nephrocare: Arabian International Healthcare Holding Company (Tibbiyah) signed a conditional share purchase agreement to acquire 49% of Nephrocare Health Services Saudi Arabia Company for SAR 279.8k, funded from its own resources, it said in a disclosure to Tadawul. The agreement — subject to regulatory and commercial approvals — replaces plans to set up a new joint venture with NephroPlus.

FOOD-

Tanmiah Food inked three MoUs with Schneider Electric, Strataphy, and Kayes Arabia to accelerate the reduction of its carbon footprint, achieving greater energy performance in its operations, according to a press release yesterday. Under the Schneider agreement, Tanmiah will conduct a comprehensive carbon inventory assessment under the Science Based Targets initiative (SBTi), including FLAG guidance, while working to decarbonize its supply chain.

Meanwhile, working with Strataphy, the partnership will see the deployment of the region’s first geothermal-cooled poultry operation at the Shaqrah Facility, offering a scalable, low-carbon cooling solution under the cooling as a service (CaaS) model. The MoU with Kayes Arabia focuses on converting diesel-powered equipment at Tanmiah’s facilities to liquefied petroleum gas systems to achieve lower carbon emissions and reduced operational costs.