INFRASTRUCTURE-

#1- Local conglomerate Shurfah Group broke ground with French firm Hoffmann Green Cement on the no-clinker cement maker’s first unit in Saudi, Hoffman Green Cement said in a statement (pdf). Construction of the H-KSA 1 began at Rabigh less than a year after Shurfah and Hoffman Green Cement signed a 22-year exclusive licensing agreement to build several Hoffmann Green units in the country under efforts to decarbonize the construction sector.

Under the agreement, Shurfah will be tasked with financing, building, and operating four production units across the Kingdom. They will also commercialize the French company’s green cement exclusively. Construction is expected to be completed by the end of 2025.

#2- Tawzea Aquapor — a unit of Tadawul-listed Sisco Holding — was awarded a SAR 33 mn contract to supply 1 mn cbm of water for the Trojena dam project, according to a filing to the exchange.

AVIATION-

Riyadh Air + EgyptAir: The Public Investment Fund’s new flagship carrier Riyadh Air inked an MoU with EgyptAir that will see passengers traveling between the two countries benefit from a wider range of services, according to a joint statement. “There will be benefits between both airline’s loyalty programs and numerous other advantages and rewards that we look forward to sharing with our guests,” said Tony Douglas, CEO of Riyadh Air. No further information was provided.

DEBT WATCH-

Obeikan Glass has lined up a SAR 50 mn shariah-compliant credit facility from Al Rajhi Bank to finance its working capital, according to a disclosure to Tadawul. The Nomu-listed company secured a similar facility from Saudi Awwal Bank last week.

MANUFACTURING-

Al Rashid Industrial has acquired a SAR 9.2 mn plastic products plant in the Qassim industrial city from International Jewelry Boxes Factory in a bid to ramp up production, it said in a disclosure to Tadawul. The purchase is financed through the company’s own resources.

HEALTHCARE-

Mouwasat Medical Services and Tadawul-listed Al Dawaa Medical Services established a SAR 1 mn joint venture — Modawaa and Rieaya Medical Company — in Al Khobar, according to two separate disclosures here and here. Mouwasat holds a 51% stake in the JV, while Al Dawaa holds the balance.

DEVELOPMENT FINANCE-

SFD extends its reach to Nicaragua: The Saudi Fund For Development has pledged USD 103 mn in soft loans to support the healthcare sector in Nicaragua, it said in a social media post on X. The fresh funds will be directed towards building and equipping the Carlos Centeno Departmental Hospital, a 300-bed facility spanning an area of 25k sqm.

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