MANUFACTURING-

Qassim Cement awarded a USD 298 mn (SAR 1.1 bn) contract with Sinoma International to build a fourth production line at Qassim’s Buraydah facility, according to a disclosure to Tadawul. Sinoma will build the production line under an EPC contract within two years. The new production line is expected to have a capacity of 10k tons of cement per day.

Qassim also signed a separate USD 12 mn (SAR 45 mn) EPC agreement with Sinoma to displace liquid fuel and convert it to natural gas, the company said in another disclosure. The 15-month agreement will cover existing production lines at the Buraydah facility.

REMEMBER- The Kingdom’s Liquid Fuel Displacement Program looks to displace over 1 mn bbl / d of oil in the electricity, desalination, manufacturing, and agriculture sectors, among others. The program — which is part of Vision 2030 — aims to bring natural gas and renewable energy’s share of the energy mix to 50% by the end of the decade.

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M&A WATCH-

Naseej gets regulatory thumbs-up for Etmam acquisition: Naseej InternationalTrading Company received clearance from the General Authority for Competition to move ahead with its plan to acquire 100% of Etmam Arabian Real Estate Development Company, it said in a disclosure to Tadawul on Thursday. The agreement — valued at SAR 552 mn — will be completed through a capital increase, with new shares issued to Etmam’s owners.

We knew this was coming: Naseej International Trading inked a sale and purchase agreement (SPA) in February to fully take over Etmam Arabian Real Estate Development.

DEBT WATCH-

Saudi Printing and Packaging Company (SPPC) sealed a SAR 75 mn financing agreement with major shareholder Saudi Research and Media Group to finance its working capital needs, it said in a Tadawul disclosure on Thursday. The amount will be repaid lump sum upon maturity on 31 December 2028 or via shares conversion.

IN CONTEXT- In May, SPPC’s board recommended a capital reduction to absorb accumulated losses to below 50%. This follows the company’s request last December to the Capital Market Authority to convert SAR 73.7 mn in debts owed to Alinma Bank into capital — which is still under review by the regulator.

AVIATION-

Saudia Cargo partnered with Ireland-based aircraft leasing operator ASL AviationHoldings to add two new A330-300P2F aircraft to its fleet to increase cargo capacity and global operations, it said on X on Thursday.

More details: The planes — scheduled for delivery in 4Q 2025 — will be operated by ASL under a comprehensive lease covering crew, maintenance, and ins. The A330-300P2F can carry up to 62 tons and 32 LD3 containers, making it suitable for fast and heavy cargo while being fuel-efficient.

Flynas will launch three weekly direct flights between Riyadh’s King Khalid International Airport and Nairobi’s Jomo Kenyatta International Airport starting 2 October, the carrier said in a statement last week.

TRADE-

The Kingdom will resume poultry imports from Brazil’s state Rio Grande do Sul, after the Saudi Food and Drug Authority (SFDA) lifted a temporary ban last Wednesday following news that a bird flu outbreak in the state was contained, the SFDA said in a statement.

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