AUTOMOTIVE-

WeRide secured an autonomous driving permit, the first in the Kingdom, to operate its Robotaxis nationwide, the Chinese autonomous driving tech firm said in a press release on Monday. The license follows the company’s expansion in May, which allowed it to start testing and deploying its Robotaxis, among other autonomous driving products, in Riyadh and Al Ula. Robotaxi trial operations on Uber are set to begin in the coming months, with full commercial services expected by year-end.

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IN CONTEXT- The Transport General Authority launched the initial 12-month operational phase of Riyadh’s autonomous vehicles project, an initiative that saw the contribution of WeRide among other public and private entities. The self-driving taxis will operate on designated routes with 13 stations, covering seven locations that connect King Khalid International Airport, major highways, and specific city center destinations.

M&A WATCH-

#1- Aictec lands stake in Sign Max: Advance International for Telecommunications and Information Technology (Aictec) finalized an agreement to acquire a 25% stake in Sign Max Advertising Company for SAR 3 mn, according to a disclosure to Tadawul. The acquisition will be financed through Aictec’s own resources, as it seeks to expand its presence in the advertising, exhibition, and conference organizing sectors.

BACKGROUND- Aictec and Sign Max received the green light from the General Authority for Competition last week and signed the initial MoU for the move back in June. Crowe Solutions Consulting served as Aictec’s financial advisor for the acquisition.

#2- Kamco Invest’s private equity team acquired an undisclosed stake in Foodics, according to a press release. The investment was part of Foodics’ USD 170 mn Series C funding round back in 2022. Although the investment was completed in 4Q 2024, the final legal and regulatory procedures were concluded recently.

REMEMBER- Local restaurant management and POS solutions provider Foodics plans to invest USD 100 mn in fintech and AI solutions for restaurants. The company has also fully acquired UK-based online ordering solutions provider Solo Venture for an undisclosed fee and invested undisclosed amounts in three startups — AI analytics firm Norma, accounting system platform Add, and F&B supply chain manager Arzaq Plus.

MEDIA-

MBC FZ, an MBC Group unit, was awarded a SAR 541.6 mn service order to provide media services for ARA International Productions (AIP), it said in a Tadawul disclosure yesterday. The one-year agreement will see MBC FZ provide AIP with operational and broadcasting support for radio stations, content production, technical services, marketing, brand development, and management for TV channels and digital platforms. MBC Group’s chairman holds a 50% stake in AIP’s parent company.

TOURISM-

The Tourism Ministry launched Ahluha platform in a bid to assimilate the largest database of beneficiaries of programs and job vacancies in the tourism sector, it said in a post on X. The platform targets to draw national workers, job seekers, tourism facilities operators, and fresh graduates. It will also facilitate direct communication between the ministry and those registered on the platform, state news agency SPA reports.

MANUFACTURING-

NMDC Energy kicked off operations at its new fabrication yard in Ras Al Khair, according to a statement. The 400k sqm facility is equipped to handle both offshore and onshore energy projects, with an estimated production capacity of 40k tons annually. Around 1.8k workers will be relocated from Abu Dhabi to the Kingdom to support project delivery. Work is already underway on nine offshore jackets for Aramco.

REFRESHER- Aramco inked a long-term partnership with NMDC Energy in January, allowing the firm to take part in multiple projects. Within that framework, the NMDC Offshore fabrication yard in Ras Al Khair agreed to offer maritime engineering, equipment, material manufacturing, and fabrication services. The partnership was extended in April to cover additional offshore work, including procurement, installation, and pre-commissioning support in Saudi waters.

LOGISTICS-

AECOM to provide advisory services for SILZ’s integrated zone project in Riyadh: US engineering firm AECOM will serve as a project management consultant for the Special Integrated Logistics Zones Company’s (SILZ) integrated zone project in Riyadh, according to a press release. Under an agreement signed between AECOM and SILZ, AECOM will provide strategic advisory services for the country’s first integrated logistics zone that is located near King Khalid International Cargo Village.

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