{"id":84228,"date":"2024-03-11T00:00:00","date_gmt":"2024-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/gas-inches-closer-to-the-main-market-plus-tech-manufacturing-logistics\/"},"modified":"2024-03-11T00:00:00","modified_gmt":"2024-03-11T00:00:00","slug":"gas-inches-closer-to-the-main-market-plus-tech-manufacturing-logistics","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/gas-inches-closer-to-the-main-market-plus-tech-manufacturing-logistics\/","title":{"rendered":"GAS inches closer to the main market. Plus: Tech, manufacturing, logistics"},"content":{"rendered":"

\n

IPO WATCH-<\/p>\n

GAS could soon graduate to Tadawul\u2019s main market:<\/strong> Gas Arabian Services (GAS) major shareholders is set to debut an additional 10% stake on the market in a secondary share sale to meet the requirements to transition to Tadawul\u2019s main market. GAS hired Yaqeen Capital<\/a> in January as financial advisor for the potential transaction. <\/p>\n

ALSO- GAS has projects worth SAR 2.2 bn in the pipeline<\/strong>, including a SAR 730 mn project carrying over from 2023, CEO Faisal AlDabal told Argaam in an interview<\/a> yesterday. GAS also has long-term contracts with Aramco and Saudi Basic Industries (SABIC) in the energy and petrochemical sectors, and long-term investments in four unnamed local manufacturing exporting companies, he said.<\/p>\n

\n

MANUFACTURING-<\/p>\n

#1- <\/strong>Naqi Water transfers land lease rights to PepsiCo<\/strong>: <\/strong>Naqi Water inked a SAR 9.5 mn contract transferring rental rights for a plot of land in Riyadh\u2019s second industrial city \u2014 owned by the Saudi Authority for Industrial Cities and Technology Zones (Modon) \u2014 to PepsiCo KSA, it said in a disclosure to Tadawul<\/a> yesterday. The local beverage company said it has found a better-suited location for a planned factory. <\/p>\n

#2- Lana Medical opened a treatment plant for high-risk medical waste in Hail Industrial <\/strong>City<\/strong>, it said in a disclosure to Tadawul<\/a> yesterday. This brings Lana\u2019s operating capacities across its medical waste treatment facilities to 85 tons a day. No further details were provided.<\/p>\n

\n

TECH-<\/p>\n

Solutions to provide Aramco with computer gear: <\/strong>The Arabian Internet and Communications Services Company (Solutions), the tech subsidiary of telecom operator STC, signed a five-year framework agreement with Aramco to supply the oil giant with computing devices and accessories, it said in a disclosure to Tadawul<\/a> yesterday. No exact financial details were provided on the agreement, but solutions are predicting that it will exceed 5% of its revenues in 2023 which by our math brings the contract value at above SAR 550 mn.<\/p>\n

\n

TELECOM-<\/p>\n

Keir International has secured a SAR 30.7 mn contract from the Interior Ministry to <\/strong>oversee the ministry\u2019s fiber optic network in Riyadh and Makkah<\/strong>, along with providing maintenance services, it said in a disclosure to Tadawul<\/a> yesterday. The contract is set to be signed on 7 May.<\/p>\n

\n

LOGISTICS-<\/p>\n

Saudi Arabia Railways (SAR) signed a three-year contract with Danish <\/strong>shipping <\/strong>giant Maersk to increase the number of Maersk containers<\/strong> transported through its trains between Dammam\u2019s King Abdulaziz Port and Riyadh\u2019s Dry Port, according to a post on X<\/a> by SAR. The partnership would help raise the Kingdom\u2019s ranking in the World Bank\u2019s Logistics Performance Index, maintain roads infrastructure and reduce emissions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gas Arabian Services (GAS) | Lana Medical | Solutions | Aramco | Saudi Arabia Railways (SAR) | Keir International | Naqi Water<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[54,139,10,1269,147,406,1306,1437,257],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84228","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-aramco","tag-enterpriseam-ksa","tag-gas-arabian-services-gas","tag-keir-international","tag-lana-medical","tag-naqi-water","tag-saudi-arabia-railways-sar","tag-solutions","wpautop","entry"],"acf":{"mongo_id":"ab9b6303-65a6-4cfe-99fa-d2df8b0a84bd","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"GAS inches closer to the main market. 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