{"id":108252,"date":"2026-05-03T00:00:00","date_gmt":"2026-05-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=108252"},"modified":"2026-05-03T03:00:10","modified_gmt":"2026-05-03T03:00:10","slug":"takween-set-to-consolidate-advanced-fabrics-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/05\/03\/takween-set-to-consolidate-advanced-fabrics-stake\/","title":{"rendered":"Takween set to consolidate Advanced Fabrics stake"},"content":{"rendered":"

\n

Takween moves to fully acquire Advanced Fabrics Factory Company<\/p>\n

Takw<\/strong>een Advanced Industries is set to take full control of <\/strong>Advanced Fabrics <\/strong>Factory Company<\/strong>, after signing a share purchase agreement to acquire the 70% stake held by its Chinese partner Jofo Nonwovens, according to a Tadawul filing<\/a>. Tawkeen, which already owns 30% of the target company, will assume 100% ownership along with all financial and operational liabilities.<\/p>\n

What\u2019s next:<\/strong> The move still needs the regulatory green light and is expected to be reflected in Takween\u2019s 1Q 2026 results, with a preliminary gain of about SAR 4 mn.<\/p>\n

\n

NextEra sets up shop in KAFD<\/p>\n

IT solutions <\/strong>provider <\/strong>NextEra<\/a><\/strong> has opened up <\/strong>its new headquarters in <\/strong>Riyadh\u2019s King <\/strong>Abdullah Financial District (KAFD)<\/strong>, the firm said in a press release<\/a>. NextEra already operates a training center in the Eastern Province and plans to expand its talent development programs across Saudi Arabia.<\/p>\n

REMEMBER- <\/strong>NextEra was launched<\/a> last year as a joint venture between Aramco Digital and India\u2019s LTIMindtree, with backing from Aramco\u2019s Namaat Industrial Investments Program. The company focuses on AI, cloud services, digital engineering, sustainability, and customer-centric solutions.<\/p>\n

\n

New shipping services hit Saudi ports<\/p>\n

J<\/strong>eddah Islamic<\/strong> Port and King Abdullah Port are now connected to major <\/strong>European hubs like Gda\u0144sk and Antwerp<\/strong>, following the addition of the MSC-operated shipping service Middleast Express, the Saudi Ports Authority (Mawani) said<\/a>. The service, which has a 16k TEU handling capacity, also integrates a land transport link from King Abdullah Port to King Abdulaziz Port.<\/p>\n

Jeddah Islamic Port <\/strong>also saw the addition<\/a><\/strong> of a new service by CMA CGM<\/strong>, Ocean Rise, which will connect the port to nine ports across Western Europe and Far East Asia. Its capacity will be around 3k TEUs.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: Aramco JV NextEra launches new headquarters in KAFD<\/p>\n","protected":false},"author":1,"featured_media":108253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[4986,54,139,10,4540,4987,4985],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-108252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-advanced-fabrics","tag-also-on-our-radar","tag-aramco","tag-enterpriseam-ksa","tag-kafd","tag-nextera","tag-tawkeen","wpautop","entry"],"acf":{"mongo_id":"bb48e576-33b2-4279-82fc-be1d882ca897","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/51.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Takween to takeover Advanced Fabrics","related_issue":[108237],"teaser":"Plus: Aramco JV NextEra launches new headquarters in KAFD"},"yoast_head":"\nTakween set to consolidate Advanced Fabrics stake - 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