{"id":85181,"date":"2024-04-15T00:00:00","date_gmt":"2024-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/"},"modified":"2024-04-15T00:00:00","modified_gmt":"2024-04-15T00:00:00","slug":"saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/15\/saudi-ground-services-gets-sar-2-bn-renewal-of-flynas-contract\/","title":{"rendered":"Saudi Ground Services gets SAR 2 bn renewal of Flynas contract"},"content":{"rendered":"

LOGISTICS-<\/p>\n

Saudi Ground Services (SGS) renewed its ground handling services <\/strong>contract with Flynas<\/strong> covering domestic and international flights for the next five years under a SAR 2 bn contract, it said in a disclosure to Tadawul<\/a>. Flynas has recently joined<\/a> the UN World Tourism Organization as an affiliate member, becoming the first Saudi airline and low cost carrier to join from the Middle East. <\/p>\n

Market reaction<\/strong>: SGS shares rose 5.2% to SAR 51.50 a piece at yesterday\u2019s close.<\/p>\n

REAL ESTATE-<\/p>\n

#1- Knowledge Economic City has inked two construction contracts for<\/strong> Al Alya project <\/strong>with <\/strong>Elkhereiji Commerce and Contracting<\/a><\/strong>, it said in two separate filings to Tadawul, here<\/a> and here<\/a>. Implementation includes structural, landscaping, electromechanical and site works on a total of 12 residential buildings \u2014 396 apartments \u2014 for phase one of the Al-Alya mixed-use project in Madinah. The SAR 171 mn contract covers eight of the 12 complexes and will run for 20 months starting Sunday, 5 May 2024. The second contract includes the remaining four residential buildings for an additional SAR 117.5 mn. It will run for a period of 24 months.<\/p>\n

#2- <\/strong>Al<\/a><\/strong>Kathiri<\/a><\/strong>Holding<\/a><\/strong> has secured a SAR 21 mn infrastructure development <\/strong>project with <\/strong>the State Security Presidency<\/strong>, it said in a regulatory filing to Tadawul<\/a>. Msandh Alemdad<\/a> \u2014 a unit of Al Kathiri \u2014 will carry out the supply and implementation of structural, architectural, mechanical and electrical works of a building in Riyadh. No further details were provided.<\/p>\n

OIL & GAS-<\/p>\n

O<\/strong>il and gas drilling company Ades Holding <\/strong>was awarded a SAR 350 mn jack-up drilling <\/strong>project in Qatar<\/strong>, with what it says is \u201cone of the major international oil companies,\u201d according to a company press release (pdf)<\/a>. The one-year contract is subject to renewal for up to 18 months. Operations on the rigs are scheduled for kick off in 2H 2024. <\/p>\n

EDUCATION-<\/p>\n

National Company for Learning and Education (NCLE) <\/strong>has inked a 20-year lease contract valued at SAR 87 mn to operate an educational complex in Riyadh, it said in a statement to Tadawul<\/a>. <\/p>\n

HEALTHCARE-<\/p>\n

Scientific and Medical Equipment House<\/a><\/strong> signed a five-year agreement with the Health <\/strong>Ministry, <\/strong>valued at SAR 180.3 mn <\/strong>to supply cooked food services for Madinah-based hospitals including King Fahd Cardiac Center, Uhud, and Al-Miqat General, it said in a statement to Tadawul<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Knowledge Economic City | Al Kathiri Holding | Ades Holding | National Company for Learning and Education (NCLE) | Scientific and Medical Equipment House<\/p>\n","protected":false},"author":1,"featured_media":85182,"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":[409,54,10,170],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ades-holding","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-knowledge-economic-city","wpautop","entry"],"acf":{"mongo_id":"ed75bd84-e565-40a0-ae41-c8590736e61f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/867.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Ground Services gets SAR 2 bn renewal of Flynas contract","related_issue":[85171],"teaser":"Knowledge Economic City | Al Kathiri Holding | Ades Holding | National Company for Learning and Education (NCLE) | Scientific and Medical Equipment House","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.72eee79f-98f8-44e4-bd45-2419e5f5a142.mp3"},"yoast_head":"\nSaudi Ground Services gets SAR 2 bn renewal of Flynas contract - 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