KTrade Saudi

Al Moammar Information Systems Co (MIS AB) signed an MoU with Saudi Fransi Capital to explore AI (artificial intelligence) based cloud services, which would require offering high-performance computing infrastructure. According to the agreement, MIS will assess the optimal business model, and Saudi Fransi Capital will collaborate by assessing potential funding options. (Tadawul)

Sahara International Petrochemical Co. (SIPCHEM AB) awarded an EPC contract to SGC E&C Co. Ltd. and SGC Arabia Co. Ltd. for the expansion of the ethylene vinyl acetate (EVA) plant for USD187mn (SR701mn). Under the 40-month contract, the plant production capacity will rise by an additional 70,000 tons (high-grade ethylene vinyl acetate) to approximately 290,000 tons a year. You can read more at https://lnkd.in/dAqAv_n3

ACWA Power Co. (ACWA AB) said that ACWA Power Riverside Solar Energy Holding signed financing agreements worth SR1.4bn with aconsortium of development financial institutions and international lenders to fund the Riverside Power Station project in Tashkent.Furthermore, the company confirmed the commercial operation of the Kom Ombo photovoltaic (PV) plant projects in Egypt. The total investment cost is SR611mn, and the financial impact will be reflected in the 3Q24. (Argaam)

Dar Al Arkan Real Estate Development Co.'s (ALARKAN AB) international arm, Dar Global Co., and the Trump Organization revealed plans to develop a new project involving luxury real estate in Jeddah. (Argaam)

Keir International (KEIR AB) signed a contract with the Ministry of Interior for O&M of fiber optic networks in the Riyadh and Makkah regions. The project value is SR30.7mn for three years. (Tadawul)

Saudi AZM for Communication and Information Technology Co (AZM AB) was awarded a contract from Saudi Post, the value of which exceeds 10% of the company’s 2023 revenue. The contract involves providing operational and logistical services. (Tadawul)

The Canadian Medical Center Co (CMCER AB) signed a contract with Johns Hopkins Aramco Healthcare to operate nine healthcare clinics. The project value is estimated at SR16.5mn over the next 24 months. (Tadawul)

Al Moammar Information Systems Co (MIS AB) secured a project worth SR38.7bn from the Saudi Data and Artificial Intelligence Authority (SDAIA) to implement a national integration platform. (Argaam)

Methanol Chemicals Co (CHEMANOL AB) signed a 20-year with Total Refining and Petrochemical Co. (SATORP) to provide 100,000 metric tons of methanol annually. You can read more at https://lnkd.in/dRRHJAWv

National Medical Care Co. (CARE) signed a share purchase agreement with Saudi Medical Care Group to acquire the entire share capital of Al Salam Health Medical Hospital for SR44mn. The target is a multi-specialty hospital located in Riyadh, with a licensed capacity of 100 beds. (Tadawul)