{"id":82503,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/lots-of-transport-type-news-this-fine-fall-morning\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"lots-of-transport-type-news-this-fine-fall-morning","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/lots-of-transport-type-news-this-fine-fall-morning\/","title":{"rendered":"Lots of transport-type news this fine fall morning"},"content":{"rendered":"

RAIL-<\/strong><\/p>\n

Saudi Arabia Railways<\/a><\/strong> has inked a contract with <\/strong>Al Jabr Automotive<\/a><\/strong> to transport <\/strong>thousands of cars annually via freight trains,<\/strong> according to a statement<\/a>. Under the terms of the four year agreement, SAR will transport the vehicles from King AbdulAziz Port in Dammam to a storage and distribution yard in Dammam, writes state-owned Saudi Press Agency<\/a>. SPA is presenting the pact as \u201cfirst-of-its-kind\u201d agreement that will also reduce the Kingdom\u2019s emissions cutting the number of road trips taken by vehicle carriers. <\/p>\n

CHEMICALS-<\/strong><\/p>\n

Speciality chemical production: <\/strong>The Methanol Chemicals Company (Chemanol), one of the world\u2019s largest producers of speciality chemicals, has secured Energy Ministry allocations of the feedstock it needs to produce a range of specialty petrochemical products set to be \u201cthe first of their kind in the region,\u201d it said in a disclosure to Tadawul<\/a> yesterday. Output of methyl diethanolamine, choline chloride dimethyl disulfide, and N-methyl pyrrolidone will be used in the oil and gas, pharma, fertilizers, carbon capture industries, among others. <\/p>\n

TRADE-<\/strong><\/p>\n

The KSA-Qatar Business Council met to discuss expanding bilateral trade and <\/strong>investments <\/strong>during the Made in Qatar 2023 exhibition, a statement<\/a> by the Qatar Chamber read last week. Trade exchange between the two countries stood at QR 2.2 bn in 2022, a figure \u201cthat does not align with the aspirations of both sides,\u201d according to the statement.<\/p>\n

SPORTS-<\/strong><\/p>\n

PIF-backed <\/strong>Professional Fighters League (PFL)<\/a><\/strong> has landed a new multi-year broadcast <\/strong>agreement with sports network ESPN<\/strong> where the league will continue to broadcast its events including the regular season, playoffs, and world championship on the Disney-owned channel, according to ESPN website<\/a>. SRJ Sports Investment \u2014 a subsidiary of the Public Investment Fund \u2014 bought a minority stake in PFL<\/a> back in August, in a transaction that will see PFL launch an MMA league and Super Fight division in the Kingdom.<\/p>\n

AUTOMOTIVE-<\/strong><\/p>\n

Lumi, MachinesTalk partner up for IoT powered car-sharing tech:<\/strong> Riyadh-based Lumi<\/a>Rental Company<\/a> signed a five-year SAR 28 mn agreement<\/a> with IoT solutions provider MachinesTalk<\/a> to boost fleet management through IoT and AI with satellite supported car sharing platform.<\/p>\n

AND- Lumi <\/strong>has landed a purchase order worth 41.8 mn from the Royal Commission for Al Ula (RCU) to provide vehicle rental services to the commission, per a disclosure to Tadawul<\/a>.<\/p>\n

It\u2019s been an eventful couple of months for the company: <\/strong>Lumi made its market debut on Tadawul in late September<\/a> after it raised USD 290 mn<\/a> in an IPO that saw it sell 30% of its shares on the market. <\/p>\n

AEROSPACE-<\/strong><\/p>\n

Budget airline <\/strong>Flynas<\/a> and Brazilian electric aircraft maker <\/strong>Eve Air Mobility<\/a> want to roll out <\/strong>eVTOLs in Riyadh and Jeddah in 2026<\/strong>. <\/strong>The two inked an agreement last week<\/a> on the potential rollout of the electric vertical takeoff and landing (eVTOL) aircraft and will study whether they can roll out the product as early as 2026. <\/p>\n

What are eVTOLs again?<\/strong> These drone-like aircraft use electric propulsion and large omnidirectional fans to allow them to takeoff vertically<\/a>, making them energy efficient, quiet, environmentally friendly, and eventually pilotless<\/a>. Beyond their use as air taxis, the vehicles are expected to be able to operate on an inter-city basis and even be used for cargo shipping<\/a>.<\/p>\n

BACKGROUND- eVTOLs has been gaining steam in the kingdom<\/strong>, with Neom and German flying taxi maker Volocopter having successfully tested<\/a> the kingdom\u2019s first electric air taxi. Neom Investment Fund committed some USD 175 mn to Volocopter<\/a> last year.<\/p>\n

IN OTHER FLYNAS NEWS-<\/strong> Flynas launched its first direct flight between Jeddah and Brussels, it announced in a statement<\/a> earlier this week. The budget airliner is set to operate three weekly flights to the next destination, it added. <\/p>\n

SPACE-<\/strong><\/p>\n

Saudi Space Agency collaborates with Sierra Space:<\/strong>The Saudi Space Agency (SSA<\/a>) has signed an MoU with US-based commercial space company Sierra Space<\/a> to exchange knowledge on the development in the space field, SPA reported on Saturday. The agreement will focus on facilitating training for students and on-the-job training for SSA employees among other aspects of cooperation.<\/p>\n

M&A-<\/strong><\/p>\n

Taiba to acquire 100% of Dur:<\/strong>Dur Hospitality Co\u2019s board of directors has approved an offer by Taiba Investments to acquire 100% of the company\u2019s issued shares, it said in a statement to Tadawul<\/a> yesterday. Taiba shareholders approved a capital increase from SAR 1.6 bn to SAR 2.6 bn to acquire Dur\u2019s 100 mn shares under the agreement terms, Argaam<\/a> reported. It will be raised through the issuance of a new share in Taiba in exchange for every share of Dur. The transaction will <\/strong>see Dur go private<\/a><\/strong> as it delists its shares. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

RAIL- Saudi Arabia Railways has inked a contract with Al Jabr Automotive to transport thousands of cars annually via freight trains, according to a statement. Under the terms of the four year agreement, SAR will transport the vehicles from King AbdulAziz Port in Dammam to a storage and distribution yard in Dammam, writes state-owned Saudi […]<\/p>\n","protected":false},"author":1,"featured_media":82504,"comment_status":"","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":[54,10,535,154,417,8,536],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-espn","tag-pif","tag-professional-fighters-league","tag-sports","tag-srj-sports-investment","wpautop","entry"],"acf":{"mongo_id":"cd9a0bde-6920-43b0-84bf-356e40c1a60d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/58.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lots of transport-type news this fine fall morning","related_issue":[82481],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6296f842-e94a-4252-8d58-6f02e8d85e7f.mp3"},"yoast_head":"\nLots of transport-type news this fine fall morning - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/lots-of-transport-type-news-this-fine-fall-morning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lots of transport-type news this fine fall morning\" \/>\n<meta property=\"og:description\" content=\"RAIL- Saudi Arabia Railways has inked a contract with Al Jabr Automotive to transport thousands of cars annually via freight trains, according to a statement. 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