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TECHNOLOGY-
#1- Global cloud communication firm Infobip launched its first data center in Saudi, according to a statement (pdf). The data center, colocated at an unnamed local service provider, will host and process data across the Kingdom in line with international data security standards, the statement read.
In context: Infobip’s announcement comes amid rising global industry interest in the Kingdom and new data sovereignty regulations that will require many providers to house and process Saudi data in the Kingdom. Check out our primer here.
#2- Communications and IT Minister Abdullah Alswaha discussed potential investment in emerging technologies and government digitalization with the digital economy ministers of Armenia, Estonia and Rwanda, state news agency SPA reported. Alwaha’s meetings were on the sidelines of the World Economic Forum (WEF) special meeting in Riyadh.
MANUFACTURING-
Jeddah-based pharma manufacturer and distributor Cigalaha Healthcare is set to localize the production and supply of 29 pharma products under a freshly-penned partnership with Turkish pharma player Abdi Ibrahim, Cigalah’s CEO Yasser Naghi told Aleqtisadiah. The partnership will see both pharma firms manufacturing treatments for heart disease, cancer, diabetes and nervous system impairments and biopharma.
Phase one of the joint venture will see some SAR 180 mn deployed over the next five years, with the goal of manufacturing up to 150 varieties of pharma products by the end of the period. The plant — which is scheduled for launch in 1Q 2025 — is expected to generate some SAR 500 mn in revenues, Naghi said. It aims to meet local and neighboring Gulf markets demand, he added.
WASTE MANAGEMENT-
Alkhorayef Water and Power Technologies (Awpt) signed a 15-year operation and maintenance agreement worth SAR 1.7 bn with the National Water Company for four sewage treatment plants in Al Ahsa, it said in a disclosure to Tadawul.
HEALTHCARE-
ICT solutions provider Perfect Presentation Commercial Services (2P) signed a two-year contract worth SAR 201 mn to operate and develop Health Ministry’s contact centers, it said in a disclosure to Tadawul.
LOGISTICS-
Mawani adds new shipping service to Jeddah port: The Saudi Port Authority (Mawani) has added a new weekly shipping service, operated by the Mediterranean Shipping Company (MSC), to Jeddah Islamic Port, according to a statement. The service, dubbed Levante Express, will connect Jeddah with ports in northern and southern Europe, including Italy’s La Spezia Port and the Port of Naples, Turkey’s Port of Mersin, and Egypt’s Alexandria. It will offer a capacity of up to 15k TEUs.
RETAIL-
Local FMCG distributor Baazeem Trading will become the exclusive distributor for food products by Egypt-based food manufacturer Kellogg Tolaram Noodles in the local market, it said in a disclosure to Tadawul. The contract, which is valued at SAR 20 mn, entails distributing Kellogg Tolaram’s food products to supermarkets, mini markets, wholesale and others. Baazeem anticipates annual sales growth of SAR 20 mn annually over the course of the three-year contract , it added.
