AVIATION-

#1- Riyadh Air, Turkish Airlines partner up in codeshare agreement: The kingdom’s newest airline, Riyadh Air, signed a strategic partnership agreement with Turkish Airlines that includes codesharing, the two said in a joint statement yesterday. They will also explore the possibility of developing a loyalty agreement covering both of the airlines’ global networks and implementing broader cooperation in aviation related services, cargo and digital development.

#2- Saudi and Sierra Leone are opening their air travel markets to each other, setting thestage for possible direct flights. The agreement, like the Riyadh Air-Turkish tie-up, was inked on the sidelines of the International Civil Aviation Organization’s meeting in Riyadh.

BIODIVERSITY-

RSG, Acwa Power to develop new wetlands under biodiversity push: Multi-project developerRed Sea Global (RSG) — which is owned by the PIF — said it has partnered with leading utility provider Acwa Power to develop more than 20 acres of new wetlands, it said in a statement yesterday. The partnership will focus on a wastewater facility at the destination The Red Sea that will treat effluent in an environmentally friendly way.

E-GOVERNMENT-

SGT lands SAR 100 mn contract from Investment Ministry: Riyadh-based Sure GlobalTech Co (SGT) has secured a four-year SAR 100 mn open framework agreement to develop technical investment services and applications for the Investment Ministry, it said in a disclosure to Tadawul yesterday. The contract includes the maintenance of existing systems, updating current systems, and applying necessary technical upgrades to ensure business continuity for the ministry’s technical systems.

M&A WATCH-

Clay pipes manufacturer SVCP looks to acquire cement producer SLF in SAR 26 mn transaction. The Saudi Vitrified Clay Pipes company (SVCP) inked a non-binding MoU with the owners of Saudi Land Factory for Cement Products (SLF) to acquire the cement products maker, the company said in a disclosure to Tadawul earlier this week. It’s not clear whether the transaction will be paid in cash, shares, or a combination of both.

Why? SVCP wants to diversify by adding concrete pipes, manholes and box culverts to its lineup, the company said in its disclosure to Tadawul.

What’s next: 90-days of due diligence and the appointment of advisors.

DEFENSE-

US State Dept. okays weapons sale: The Biden administration has signed off on a possible USD 582 mn sale of technology and equipment that will allow the Royal Saudi Airforce to upgrade and modernize its Boeing RE-3A Tactical Airborne Surveillance System. L3 Technologies, a Texas-based company, will get the contract to carry out the upgrade provided Congress signs off on the program, according to a statement out overnight from the US Defense Security Cooperation Agency.

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