Meeza secures QAR 800 mn murabaha facility for data centers expansion

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TODAY: Meeza secures funding for data center expansion + Menzies wraps G2 acquisition

Good morning, friends. The news cycle has picked up some vigor as we inch closer to September, leaving us with an issue full of debt, M&A, projects, and data centers updates from across the region. But first, a big update on the South Korea-US moves in aviation, shipbuilding cooperation…

THE BIG LOGISTICS STORY- US + South Korea go big on shipbuilding, aviation collab: South Korea has inked several agreements with US firms worth bns of greenbacks — namely in aviation, shipbuilding, and LNG trade. The agreements, worth USD 150 bn, include 11 non-binding contracts in other commodities such as AI, nuclear energy, and critical minerals.

On the aviation front, South Korean carrier Korean Air has placed a mega Boeing order worth USD 36.2 bn for 103 jets in a bid to modernize its fleet. The order includes 20 of the 777-9 jets, 25 of the 787-19 model, 50 of the 737-10 carriers, and eight of its 777-8 freighters. The airline also entered into a USD 14 bn agreement with General Electric for new engines and maintenance services.

Turning to shipbuilding, South Korean shipbuilder HD Hyundai inked an MoU with US firm Cerberus Capital and Korea Development Bank for a multi-mn USD joint fund to improve US-based shipbuilding.

As for LNG and commodity trade, Korea Gas Corp inked a 10-year agreement with Trafigura to import 3.3 mn tons of US LNG per year, supplied by Cheniere, starting in 2028.

All’s well that ends well: This comes after the two countries agreed to lower tariffs to 15% on South Korean exports to the US, something that US President Donald Trump refused to alter further.

This story received a lot of attention from the int’l press: Reuters | Bloomberg | CNN | CNBC | BBC

HAPPENING TODAY-

The Africa Procurement and Supply Chain Leaders’ Conference is on its third day and will run until Friday, 29 August in Dubai. The conference will bring together global industry leaders, policymakers, and stakeholders to explore AI innovation in procurement and supply chain efficiency, sustainability, and risk management.

WATCH THIS SPACE-

#1- PIF-owned AI company Humain began developing its first data centers in Saudi Arabia with an expected launch in early 2026, Bloomberg reports, citing CEO Tareq Amin. Facilities in Riyadh and Dammam are slated to go live in 2Q 2026, each with an initial capacity of 100 MW.

Humain plans to source semiconductors for its data centers from US manufacturers and has already secured regulatory clearance to acquire 18k of Nvidia’s newest chips, Amin said. The company will begin seeking US government approval for delivery soon, he added.

REMEMBER- Humain is working with multiple US tech firms to build AI infrastructure, including a planned USD 10 bn JV with AMD, early talks with Elon Musk’s xAI on a Saudi data center project and plans to jointly develop 500 MW of AI data centers over five years with Nvidia. The firm aims to add 1.9 GW of data center capacity by 2030.

#2- The US officially ended its direct sanctions on Syria yesterday, after its Office of Foreign Assets Control (Ofac) finalized the last regulatory step to remove the sanctions from the Code of Federal Regulations. The announcement ends sanctions first imposed by the US on Syria through Ofac in 2005.

What they said: The move is predicted to “reinvigorate the economy through the return of remittances and the opening of space for new investments,” Syrian economic analyst Amer Ghazawi told Shafaq. The EU and the US both initially agreed to lift sanctions on Syria back in May.

Still, some secondary sanctions — courtesy of the Caesar Act — are still in place, and would require a US Congress vote to officially repeal them, The National reports. This could happen as soon as next month, when Congress members return to Washington after the summer recess. The Caesar Act sanctions were first introduced in 2019 to target entities and individuals providing material support to the Assad government.

ON A RELATED NOTE- The Saudi-Syrian Business Council is gearing up to launch an online platform by the end of the year, to link Saudi and Syrian investors with projects, government agencies, and trade, helping ease the flow of goods and services between both markets, Vice Chairman Abdullah Al Ghobain told Al Arabiya (watch, runtime: 8:05). The Saudi-Syrian Business Council will also establish an office in Syria next month to support investors, the council’s Chairman Mohammad Abunayyan was quoted as saying by Aleqtisadiah during the Saudi-Syrian private sector investment forum in Riyadh.

#3- Iraq advances plans to end its Iran energy dependency: Iraq is moving forward with its decision to start developing power plants that depend on locally produced gas to generate over 10 GW of electricity, as part of its bid to reduce its reliance on Iranian energy imports, AGBI reports. The power plants, which aim to meet local demand, will be placed in Baghdad, Basra Port, and Najaf province — complementing other power plants in the works in Iraq’s Kirkuk and Al Faw.

ICYMI- The US abrogated a waiver allowing Iraq to import Iranian electricity in March, worsening Iraq’s power output. Iraq produces 27 GW — which sometimes drops to 17 GW — whereas they need 40 GW to keep the lights on throughout the day. This forced Iraq to ship natural gas to Iran for electricity generation and re-exporting it back to meet local energy needs.

MARKET WATCH-

#1- Oil prices were little changed this morning as anticipation lingers for developments on the Russia-Ukraine front, as well as the US’ tariffs on India, Reuters reports. Brent crude futures increased by USD 0.01 to reach USD 67.32 / bbl by 03.54 GMT, while US West Texas Intermediate (WTI) inched up by USD 0.08 to trade at USD 63.33 / bbl.

Meanwhile, Saudi Arabia received some 1.1 mn tons of fuel oil and vacuum gas oil (VGO) from Russian ports in July, a marginal change from June, Reuters reports, citing traders and LSEG data. Meanwhile, India’s imports of the same products from Russia jumped 65% m-o-m in July to 600k tons.

Saudi Arabia’s power plants ramped up their use of high-sulphur fuel oil and crude during the summer months to cover peak demand, which is driven by high AC loads.

REFRESHER- Russian shipments of fuel oil and VGO to Saudi ports rose 9% m-o-m to reach 800k metric tons in June. The Middle East and Asia have been a main market for Russia’s fuel oil and VGO exports since the EU’s full embargo on Russian oil products in 2023.

#2- Baltic index snaps losing streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — was up 5% to 2,041 points on Tuesday, buoyed by increases across all segments. The capesize gained 8.5% to 3,031 points, while the panamax index increased between 2% to 7% to 1,818 points, its highest since 25 July. The smaller supramax index went up by 0.9% to 1,437 points.

PSA-

Maersk to roll out PSS: Shipping giant Maersk has revised its peak season surcharge (PSS) to USD 700 for cargo travel from the Asia Pacific region to the Middle East, according to a statement. The PSS will apply for all types of 20 ft and 40 ft containers — starting 10 September until further notice. The hike affects cargo headed to the UAE, Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, and Saudi Arabia.

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CIRCLE YOUR CALENDAR-

Bahrain will host the Syria Recovery and Investment Forum on Sunday, 1 September and Monday, 2 September in Manama. The forum will host global industry leaders, policymakers, and stakeholders to discuss Syria’s most urgent rebuilding needs — and attract investments — across key sectors including education, energy, housing, smart cities, ports, and metro systems.

Oman will host Transport Middle East on Monday, 1 September until Wednesday, 3 September in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics.

Saudi Arabia will host the Sustainable Maritime Industry Conference on Wednesday, 3 and Thursday, 4 September in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.

Algeria will host the Intra-African Trade Fair on Thursday, 4 September until Wednesday, 10 September in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.

Oman will host the Comex Global Technology Show on Sunday, 7 September and run till Wednesday, 10 September in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech, and cybersecurity.

Saudi Arabia will host the Smart Ports and Logistics Transformation Summit on Monday, 15 September and Tuesday, 16 September in Jeddah. The summit will host over 40 global and local speakers, industry experts, and policymakers to explore smart port solutions, port operations, and logistics within Saudi Arabia.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.

Meeza secures QAR 800 mn to expand data center capacity

Meeza lands funds for data center expansions: Qatari IT services and data center provider Meeza has secured a QAR 800 mn shariah-compliant murabaha facility from Dukhan Bank to expand its data center capacity by 44 MW, according to a Qatar Stock Exchange disclosure. The expansion will add capacity specifically suited to meet rising demand for AI, advanced cloud, and cybersecurity services in Qatar and the wider region.

The expansion’s first phase will include 24 MW — 6 MW of which will be used to implement AI services. Meeza’s existing data centers are currently utilized at 97%capacity.

Meeza is expanding: The Qatari firm clinched QAR 135 mn in shariah-compliant financing to expand its AI-suited data center capacity by 4 MW earlier this year. Meeza also inked a QAR 100 mn agreement to provide 1 MW of capacity — from its 4 MW M-Vault4 data center — to a large, unnamed international cloud service provider until 2036. The company has completed nearly 75% of its M-Vault4 data center project, with a full launch scheduled for 1H 2026, according to the firm’s financial results.

Data center expansions buoyed the company’s top line for 1H 2025, which rose 5.1% y-o-y to QAR 189 mn on the back of a 7.1% surge in data center segment revenues. The firm saw its net income fall by 4.1% y-o-y to QAR 29 mn during the same period.

Menzies Aviation wraps G2 Secure Staff Acquisition

Menzies Aviation completes G2 Secure Staff acquisition: Menzies Aviation, a subsidiary of ADX-listed logistics firm Agility Global, closed the acquisition of 100% of US-based G2 Secure Staff, according to a disclosure (pdf). The transaction — first announced in April — wrapped at an enterprise value of USD 305 mn, plus a deferred USD 10 mn payment due in 2026 subject to performance.

Looking ahead: The transaction will add roughly 20% to Menzies’ revenue, bringing group revenues above USD 3.1 bn based on FY 2024 figures. G2’s operations will be rebranded under the Menzies name, with integration already underway.

REMEMBER- G2 has a big portfolio: Established in 2005, the firm offers ground and air cargo handling services, as well as passenger assistance to an extensive list of major US airlines, and the company operates in more than 340 airports in 65 countries.

On a streak: Menzies Aviation has been on an expansion streak over the past two years, wrapping four acquisitions that we know of. In 2024, the ground handling services giant napped a 50.1% stake in Groundforce Portugal and a 50% stake in Hong Kong’s Jardine Aviation Services Group. Earlier in 2023, the company entered the Bulgarian and Panaman markets, acquiring a majority stake in Bulgaria’s Cargo Handling Services and the London-based Aircraft Services and Consulting.

AD Ports inks a slew of agreements to boost operations in Angola

AD Ports ramps up its Angola operations: AD Ports Group has inked a slew of MoUs with Angolan private and public sector players in a bid to expand its Angola operation, as well as digitalize and develop the country’s logistics sector — focusing on maritime, land, and air freight operations, according to a statement. The agreements came on the back of UAE’s President Mohamed bin Zayed Al Nahyan’s state visit to Angola this week, which also saw the signing of a economic partnership agreement aiming to boost bilateral trade to USD 10 bn by 2033, Wam reported.

Here is a rundown of the agreements:

#1- Boosting digitalization: AD Ports’ digital arm Maqta Technologies inked a three-year agreement with Angola ‘s trade regulator Agência Reguladora de Certificação de Carga e Logística de Angola (ARCCLA) to set up a digital single logistics trade window. The platform — named JUL — aims to streamline customs and trade-related processes in the country and will be first deployed to focus on maritime trade.

#2- Expanding its trucking fleet: AD Port’s Angolan logistics subsidiary Noatum Unicargas Logistics will also uptake 30 new trucks and 45 new trailers — an acquisition earmarked at some USD 6 mn. This move is scheduled to almost double the company’s fleet to hit 70 trucks and 95 trailers in operation.

#3- Bolstering ground handling capacity: The Abu Dhabi-based giant also inked an agreement with Sociedade Gestora de Aeroportos (SGA) to boost ground handling, logistics services, cargo handling, and warehousing at Catumbela’s Aeroporto International Paulo Texeira Jorge.

#4- Boosting medical logistics: Docktour, AD Ports JV with UAE medical services provider Burjeel Holdings, is set to collaborate with the Angolan Health Ministry to explore ways to offer logistics and supply chain services to move medical equipment, pharmaceuticals and healthcare supplies.

That’s not all: The firm also inked an MoU with the Transport Ministry in a bid to foster ways to cooperate on Cabinda’s Caio Deepwater Terminal and the Dante Freezone Multipurpose Terminal.

AD Ports 💙Angola: AD Ports secured a 20-year concession with Angola’s Luanda Port Authority to operate and upgrade the Luanda multipurpose port terminal last year. AD Ports is shelling out USD 251 mn to modernize the terminal and its logistics operations between 2025 and 2026.

REMEMBER- The Luanda Port port currently handles over 76% of Angola’s container and general cargo volumes and serves as one of Central-West Africa’s key transhipment hubs, enabling land-locked countries — including the DRC and Zambia — to access maritime trade.

Egypt targets early 2026 for Nafeza air freight rollout

Egypt to expand its ACI system to include air freight: The Finance Ministry is set to begin implementing the Advance Customs Information (ACI) system for air freight in January 2026, government sources told EnterpriseAM yesterday.

This move comes after a nearly five-year delay, despite the system’s mandatory application for sea freight in October 2021.The implementation of the new system will include introducing an electronic bill of lading system, replacing the traditional paper documents, sources noted.

The ACI system in brief:The system is a World Customs Organization (WCO) protocol that provides real-time information on shipments of incoming goods to shipping lines, port operators and governments. It requires shippers to submit cargo data and documents — such as pro-forma invoices and draft bills of lading — at least 48 hours before shipment leaves the export country. It’s a key part of the Finance Ministry’s digital customs system known as Nafeza, which went live in 2021.

What’s next: The Egyptian Customs Authority (ECA) will begin trials of the ACI customs system for local and foreign air freight companies and airlines starting in September and until the end of December, our sources noted. Joining the system will be mandatory starting 1 January 2026.

Coordination in motion: The ECA recently met with representatives of all local and foreign air freight firms to finalize the implementation mechanisms for both the pilot and mandatory phases of the ACI system.

The rationale behind this move: The primary objective of the ACI system is to reduce both the time and cost of customs clearance, our sources said. By ensuring that all required procedures are completed before shipping, the system will allow for the immediate release of cargo upon arrival. The completion of the ACI system is also expected to strengthen the country’s standing in the global trade system while helping eliminate unidentified or untraceable goods, our sources noted.

Any exceptions? Shipping companies have requested a reduction in the cargo registration time for food and other perishable goods to just two hours before shipping, instead of 48 hours, sources indicated. Additionally, they submitted a list of other exemptions for consideration, including one for the transport of human remains.

Transit trade unaffected: The new system will have no impact on transit trade, sources said, citing extensive experience in handling challenges in sea freight operations. This process will be streamlined by using a single Advance Cargo Information (ACID) number for each shipment, its source, and invoice.

What importers need to do: Local importers will be required to enter advance shipment data and obtain an ACID number before beginning import procedures. They must also provide key documents such as a pro forma invoice or purchase order and the initial bill of lading before the cargo is shipped.

Guidelines for exporters: Foreign exporters will register on the CargoX platform and adhere to Egypt’s approved e-invoicing specifications. All shipment documents will be sent to the Nafeza system via blockchain-enabled supply chain networks. This must be done well in advance of cargo being loaded onto aircraft, given the differences in speed between air freight and sea freight.

Procedures will be eased for airlines serving Arab countries, especially for flights with a duration of less than two hours, according to our sources.

The Finance Ministry aims to significantly cut customs clearance time from eight days to just 48 hours, and eventually to only a few hours. This should be achieved through introducing an updated risk management system and implementing AI technologies in customs inspections. All this aims to speed up the release of goods and lower costs for importers.

REFRESHER- More than 30k importers have so far joined the ACI system, and some 80k foreign exporters have registered with blockchain document platform CargoX since it went live at the nation’s seaports in October 2021.

Updates on investments, roads and rail from Egypt, Qatar, and Oman

INVESTMENT WATCH-

Turkish textile manufacturer Nil Örme will establish a USD 35 mn (EGP 1.75 bn) textile and garment manufacturing project in the Qantara West Industrial Zone, according to an SCZone statement. The facility will export 90% of its output and is expected to create around 2k jobs, according to SCZone Chairman Walid Gamal El Din. The project comes as part of SCZone’s strategy to position Qantara West as a regional hub for textiles and ready-made garments.

What’s next: The Suez Canal Authority will stage a promotional roadshow in Turkey at the end of September, eyeing fresh inflows across multiple sectors.

ROADS-

Qatar’s Public Works Authority (Ashghal) is planning to award a contract for the QAR 354 mn Umm Slal Ali roads development and infrastructure project, Zawya reports. The tender — set to roll out in 4Q 2025 — is for the first package of the development project, which includes Umm Ebariya Village, South Umm Al Amad, and North Bu Fessela roads.

About the project: The project covers 273 residential areas, government buildings, schools, and mosques spread over an area of 1,45k hectares, according to Ashghal. It is scheduled for completion in 3Q 2027. The contract will include road construction, landscaping, surface water, groundwater networks, and treated sewage-effluent facilities

That’s not all: Ashgal is also planning to award a consultancy contract for the 875k-sqm Wadi Al Banat North roads and infrastructure project in 3Q 2025, Zawya reports. The contract covers the design, management, operation, and services of the mechanical, electrical, and plumbing systems for five local streets in the Wadi Al Banat North area. The project is scheduled for completion in 4Q 2029.

RAIL-

Hafeet Rail’s railway tracks land at Sohar: UAE-Oman rail network JV Hafeet Rail has received its first shipment of 3.8k railway tracks through the General Cargo Terminal at Sohar Port and Freezone, according to a statement. The 6k metric ton shipment — manufactured at ArcelorMittal’s facility in Spain’s Gijón — is the first of a total of 33.1k metric-ton supply. The JV is slated to receive more shipments in the upcoming months before the next phase of on-ground construction.

REFRESHER- Hafeet Rail was launched by the UAE’s Etihad Rail and Mubadala, and Oman’s Asyad Group to work on a railway connecting the UAE to Oman. The rail link is set to cut travel between Abu Dhabi and Sohar to 100 minutes, with freight trains moving at 120 km/h and passenger trains carrying up to 400 people at 200 km/h.

China’s incoming Boeing + Airbus orders shed doubt on Comac deliveries

Signs of trouble for China’s Comac: As Chinese airlines reportedly seek to place as many as 1k Boeing and Airbus orders, the Commercial Aircraft Corporation of China (Comac) could be facing trouble delivering medium-to-long-term targets — potentially falling short of its annual delivery target of 75 jets in 2025, Bloomberg reports.

ICYMI- US planemaker Boeing is making headway on an agreement that could see it sell as many as 500 aircraft to China. The parties have not yet finalized the terms — pending a defusal of trade tensions with the US.

Why Comac isn’t taking flight: Comac is facing a slew of challenges, namely its struggle to clinch airworthiness certifications from non-Chinese bodies. This has complicated Comac’s sales of its C919 aircraft — a model expected to be on par with Boeing’s 737 and Airbus’ A320. Another issue is Comac’s reliance on Western-made aircraft parts, a commodity which Washington had previously restricted in its trade war with Beijing.

Comac’s orderbook progress: As of mid-August, Comac has only delivered five C919s to its Chinese clientele, falling short of the expectations of China’s three largest carriers — Air China, China Southern Airlines, and China Eastern Airlines. The companies anticipated the delivery of 32 C919s as part of a joint 300-plane order placed within the last 18 months.

Calendar

AUGUST

25-29 August (Monday-Friday): Africa Procurement and Supply Chain Leaders’ Conference, Dubai, UAE

31 August (Sunday): GCC Forum for Green Mobility, Salalah, Oman.

SEPTEMBER

1-2 September (Monday-Tuesday): Syria Recovery and Investment Forum, Manama, Bahrain

1-3 September (Monday-Wednesday): Transport Middle East 2025, Salalah, Oman.

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference, Jeddah, Saudi Arabia.

4-10 September (Thursday-Wednesday): Intra-African Trade Fair, Algiers, Algeria.

7-10 September (Sunday-Wednesday): Comex Global Technology Show, Muscat, Oman.

15 September (Monday): Logistics Leaders Saudi 2025, Riyadh, KSA

15-16 (Monday-Tuesday) September: Smart Ports and Logistics Transformation Summit, Jeddah, KSA

23 September (Tuesday): TradeWinds Shipowners Forum Greece 2025, Athens, Greece

24 September (Wednesday): Syria Recovery & Investment Forum, Abu Dhabi, UAE

24-26 September (Wednesday-Friday): Routes World, Hong Kong.

25 September (Thursday): World Maritime Day.

30 September-2 October (Monday-Thursday): Global Rail Transport Infrastructure Exhibition and Conference, Abu Dhabi, UAE.

OCTOBER

The International Maritime Organization (IMO) is set to formally adopt the Net-zero Framework this month, stipulating new fuel standards for ships and a global pricing mechanism for emissions.

1-2 October (Wednesday-Thursday): Saudi Maritime and Logistics Congress, Dammam, Saudi Arabia.

6-8 October (Monday-Wednesday): Maritime Cyprus Conference 2025, Limassol, Cyprus.

7-8 October (Tuesday-Wednesday): Global EV and Mobility Technology (GEMTECH) Forum, Riyadh.

13-17 October (Monday-Friday): The Marine Environment Protection Committee’s second extraordinary session, London, UK.

14-15 October (Tuesday-Wednesday): Investing in Africa Conference and Expo, London, UK.

15 October (Wednesday): Global Trade Review, Cairo, Egypt

28-30 October (Tuesday-Thursday): Borneo International Maritime Week, Sarawak, Malaysia.

NOVEMBER

3-6 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

4-6 November (Tuesday-Thursday): Air Cargo Forum, Abu Dhabi, UAE.

9-11 November (Sunday-Tuesday): TransMea Expo, Cairo, Egypt

17-21 November (Monday-Friday): Dubai Airshow, Dubai, UAE.

24-26 November (Monday-Wednesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh, Saudi Arabia.

DECEMBER

9-10 December (Tuesday-Wednesday): Rail Industry Summit, El Jadida, Morocco.

16-17 December (Tuesday-Wednesday): Saudi Airport Exhibition, Riyadh, Saudi Arabia.

JANUARY 2026

19-23 January (Monday-Friday): World Economic Forum Annual Meeting, Davos, Switzerland.

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