AVIATION-

Saudi jet lessor AviLease is seeking to almost double its fleet size to 300 jets by 2030, CEO Ted O’Byrne told Bloomberg TV in an interview. The lessor, established in 2022 and backed by the Saudi Public Investment Fund, will manage 167 jets following its acquisition of Standard Chartered’s aviation finance business this week, he added. The growth should see cargo traffic double and increase the lessor’s balance sheet to USD 20 bn from USD 6 bn by 2030, ultimately creating a “lot of capacity” to acquire wide-body aircraft, O’Byrne told the outlet. The lessor also hopes to issue up to USD 2 bn denominated bonds annually as part of its strategy to help KSA diversify away from oil and become a trade and logistics hub.

ZONES-

KSA logistic zone is set to become operational in 2024 : Saudi Arabia’s energy city megaproject King Salman Energy Park — a joint venture between SPARK logistics and Hutchison Ports — will begin operations in 2024, Gulf Business reports. The logistics zone, which will be operated and maintained by SPARK, will be home to the biggest private dry port in the region and offer services including customs clearance and bonded warehouse storage. It will house 10 mn metric tonnes of cargo and aims to facilitate access to global markets and help businesses meet rising demand for energy-related products. “Through the zone, we aim to attract significant investment, drive economic growth and create new opportunities for businesses by providing unmatched access and connectivity to the region,” CEO of Spark Saif Al Qahtani.

INFRASTRUCTURE-

Qatar completes infrastructure development in Rawdat Al Jahhaniya : Qatar’s Public Works Authority has completed the second phase of a road and infrastructure development project in Rawdat Al Jahhaniya, which began in 2Q 2020, The Peninsula reports. The project involved constructing a 21 km road network, 3.6km of walkways and cycle paths, and safety features including lighting and directional signs. The project aims to enhance traffic flow, link public amenities, and serve 851 residential plots. The project also included surface and groundwater drainage networks extending 21 km to avert water buildup during the rainy season. A 2.7 km treated water network was also constructed to serve potential green areas. In an effort to support manufacturers, 70% of the project’s materials were sourced locally.

SERVICES-

Serco renews AED 250 mn contract to service Australian Defense Force (ADF) base in the Middle East: British multinational defense outfit Serco has renewed the Middle East Logistics and Base Support Services (MELABS) contract to provide the “full suite” of logistical services to ADF’s main operating base in the region, according to a press release. The contract commences on 1 January 2024 for an initial term of three years and covers logistical, hospitality, estate operations, facility maintenance, transportation, asset hire, emergency structural and airfield rescue, and firefighting response services at the ADF facility.

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