{"id":90111,"date":"2024-10-01T00:00:00","date_gmt":"2024-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/01\/moaj-holding-will-invest-usd-30-mn-to-use-medisuns-tech-in-saudi\/"},"modified":"2024-10-01T00:00:00","modified_gmt":"2024-10-01T00:00:00","slug":"moaj-holding-will-invest-usd-30-mn-to-use-medisuns-tech-in-saudi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/01\/moaj-holding-will-invest-usd-30-mn-to-use-medisuns-tech-in-saudi\/","title":{"rendered":"Moaj Holding will invest USD 30 mn to use MediSun\u2019s tech in Saudi"},"content":{"rendered":"<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new JV for generating electricity from seawater underway:<\/strong> Saudi investment group <a target=\"_blank\" href=\"https:\/\/www.moaj.com\/\" style=\"\" rel=\"noopener\">MOAJ<\/a><a target=\"_blank\" href=\"https:\/\/www.moaj.com\/\" style=\"\" rel=\"noopener\">Holding<\/a> partnered with <a target=\"_blank\" href=\"https:\/\/www.medisun.energy\/\" style=\"\" rel=\"noopener\">MediSun Energy<\/a>, a Singapore-based firm that generates electricity from saltwater, to establish a local JV, MediSun Arabia, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/moaj-holding-invests-30m-in-joint-venture-with-medisun-energy-to-tackle-water-scarcity-and-brine-challenges-in-saudi-arabia-302261088.html\" style=\"\" rel=\"noopener\">press release<\/a> from MediSun.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The partnership will see MOAJ allocate USD 30 mn to establish a manufacturing facility<\/strong> for the production of MediSun\u2019s flagship reverse electrodialysis WEGen stacks. The partnership also grants MOAJ exclusive distribution rights for MediSun\u2019s technologies across the GCC countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at HSBC Saudi Arabia are gearing up to relocate to a new office at <\/strong><strong>King Abdullah<\/strong><strong> Financial District in 2H 2025<\/strong>, after signing a long-term lease agreement with the district\u2019s Development and Management Company, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2316.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The agreement will see the lender relocate to a new office in the financial district, aptly named the \u201cHSBC Building\u201d by late 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BUSINESS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Simah Rating Agency (Tassnief) <\/strong><strong>assigned a long-term rating of BB+ and a short-term one <\/strong><strong>of T-5<\/strong><strong> for construction firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mbg.sa\/\" style=\"\" rel=\"noopener\">Multi Business Group<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/simah-rating-agency-tassnief-assigns-entity-ratings-to-multi-business-group-for-projects-company-r8uwl1p0\" style=\"\" rel=\"noopener\">press release<\/a> from the local credit rating agency. The group\u2019s \u201cmoderately large operational scale and a proven track record spanning 15 years in fit-out building contracting work and mechanical, electrical, and plumbing engineering\u201d underpinned the rating action.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh-based water infrastructure player <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.miahona.com\/\" style=\"\" rel=\"noopener\">Miahona<\/a><\/strong><strong> inked an MoU to develop and operate<\/strong><strong> water and sewage treatment plants in Uzbekistan.<\/strong> Miahona will explore building four new sewage treatment plants and managing five existing facilities in Uzbekistan\u2019s Fergana Valley and Jizzakh Region under a development agreement signed with Uzbekistan\u2019s Ministry of Investment and <a target=\"_blank\" href=\"https:\/\/uzsuv.uz\/en\" style=\"\" rel=\"noopener\">Uzsuvtaminot<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82714&anCat=1&cs=2084&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The projects will be implemented under Build-Own-Operate-Transfer (BOOT) and Enhanced Operations and Maintenance (EOM) models, with financial impacts to be assessed after due diligence per the one-year MoU.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US hospitality brand <\/strong><strong><a target=\"_blank\" href=\"http:\/\/www.hyatt.com\/\" style=\"\" rel=\"noopener\">Hyatt<\/a><\/strong><strong> plans to launch two hotels \u2014 Park Hyatt Jaumur and Andaz<\/strong><strong> Jaumur Marina \u2014 in Neom\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/regions\/magna\" style=\"\" rel=\"noopener\">Magna<\/a><\/strong><strong> in 2027<\/strong>, featuring a total of 350 rooms and suites, according to a <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/newsroom\/hyatt-announces-plans-for-two-hotels\" style=\"\" rel=\"noopener\">press release<\/a>. <a target=\"_blank\" href=\"https:\/\/www.neom.com\/en-us\/regions\/jaumur\" style=\"\" rel=\"noopener\">Jamur<\/a>, one of Magna\u2019s destinations, is a marina community on the Gulf of Aqaba.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Real Estate General Authority (Rega) launched a new accelerator for proptech <\/strong><strong>startups<\/strong>, in partnership with the <a target=\"_blank\" href=\"https:\/\/ntdp.gov.sa\/en\" style=\"\" rel=\"noopener\">National Technology Development Program<\/a> and <a target=\"_blank\" href=\"https:\/\/startupwiseguys.com\/\" style=\"\" rel=\"noopener\">Startup Wise Guys<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/en\/media-center\/news\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%AA-%D8%B7%D9%84%D9%82-%D9%85%D8%B3%D8%B1%D8%B9%D8%A9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D9%81%D9%8A-%D8%A7%D9%84%D8%AA%D9%82%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%85%D8%B9-%D8%A7%D9%84%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A-%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%AA%D9%82%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">statement<\/a>. The program offers access to a network of angel investors and investment funds, as well as training workshops, mentoring, and advisory sessions, read the statement. Applications for the accelerator can be filed <a target=\"_blank\" href=\"https:\/\/rega.gov.sa\/%D9%85%D8%B3%D8%B1%D8%B9%D8%A9-%D8%A7%D9%84%D8%AA%D9%82%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9\/%D9%85%D8%B3%D8%B1%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D8%B9%D9%85%D8%A7%D9%84\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More roads for Al Baha:<\/strong> The government wrapped up a 22 km road connecting Baljurashi and Al Aqiq governorates at a cost of SAR 219 mn, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/RGAsaudi\/status\/1840416602350653757\" style=\"\" rel=\"noopener\">post on X<\/a> from the Roads General Authority. Some agricultural roads at Al Baha were also completed at a SAR 39 mn ticket. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government completed the upper intersection project for the Ha'il-Rafha Road <\/strong>at SAR 45 mn, according to <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2180221\" style=\"\" rel=\"noopener\">state news agency SPA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dammam\u2019<\/strong><strong>s King Fahd International Airport has received Level 3 Customer Experience<\/strong><strong> Accreditation from Airports Council International (ACI) <\/strong>for its efforts to enhance passenger satisfaction with a seamless, safe, and sustainable customer experience, according to a <a target=\"_blank\" href=\"https:\/\/daco.sa\/ar\/%d9%8a%d9%85%d9%86%d8%ad%d9%87%d8%a7-%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d9%85%d8%b7%d8%a7%d8%b1%d8%a7%d8%aa-%d8%a7%d9%84%d8%af%d9%88%d9%84%d9%8a-aci\/\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/daco.sa\/ar\/%d9%8a%d9%85%d9%86%d8%ad%d9%87%d8%a7-%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d9%85%d8%b7%d8%a7%d8%b1%d8%a7%d8%aa-%d8%a7%d9%84%d8%af%d9%88%d9%84%d9%8a-aci\/\" style=\"\" rel=\"noopener\">release<\/a>. Dammam Airports CEO Mohammed Al-Hassany aims to achieve the highest certification levels of 4 and 5 in a bid to position the airport as one of the best in the region, he said. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: HSBC Saudi is getting a new office at King Abdullah Financial District<\/p>\n","protected":false},"author":1,"featured_media":90112,"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":[54,10,3172,2587,127,3177,1571,3176,3171,3173,100,1097,3175,3174],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90111","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-green-dahna-association","tag-hsbc","tag-king-fahd-international-airport","tag-medisun-energy","tag-miahona","tag-moaj-holding","tag-national-center-for-vegetation-cover-ncvc","tag-national-technology-development-program-ntdp","tag-neom","tag-real-estate-general-authority-rega","tag-roads-general-authority-rga","tag-startup-wise-guys","wpautop","entry"],"acf":{"mongo_id":"d53f1b74-a81b-4246-b4f7-eebf64dd37ed","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2254.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Moaj Holding will invest USD 30 mn to use MediSun\u2019s tech in Saudi","related_issue":[90092],"teaser":"PLUS: HSBC Saudi is getting a new office at King Abdullah Financial District","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.bf2882d2-c6c0-49d1-993a-975ac2f212fd.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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