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MANUFACTURING-
Fourth Milling jumps on the bandwagon of accelerating flour production: Fourth Milling (MC4) is set to increase flour production by 11.7% to 1.1k tons, after the General Food Security Authority (GFSA) authorized flour millers to export their products, according to a disclosure to Tadawul. The move will also allow MC4 to ramp up its output of finished products, including bran and animal feed. Similarly, Arabian Mills said last week it is boosting production at three major branches by 11.7% to a combined total of 1.5 mn tons.
IN CONTEXT- The expansion comes as Saudi Arabia’s flour mills gear up to tap global markets under a new GFSA policy, allowing licensed companies to export surplus production once local needs are met. Under the new policy, flour milling firms must reimburse the government for wheat subsidies on exported quantities, ensuring domestic supply remains prioritized.
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INFRASTRUCTURE-
Alkhorayef Water and Power Technologies has secured a contract with the Saudi Water Authority (SWA) to operate and maintain water treatment plants at Wadi Aldawaser, Alsalil, Alsafa in Najran, and Alwajid, it said in a filing to Tadawul. The 24-month agreement — which is valued at SAR 58.8 mn — is set to cover the areas of Wadi ad-Dawasir, Alsalil, Al Safa in Najran, and Alwajid.
LOGISTICS-
#1- Saudi Logistic Services — a unit of Saudi Manpower Solutions (Smasco) — landed a SAR 84.8 mn project with the Human Resources and Social Development Ministry, it said in a disclosure to Tadawul. The two-year agreement will see it provide and operate residences for unemployed domestic workers.
#2- Mawani adds new shipping service to King Abdulaziz Port: The Saudi Ports Authority (Mawani) added Ocean Network Express’ (One) Pakistan Gulf Express service to King Abdulaziz Port, it said in a statement. The new shipping service, which has a 2.5k standard container capacity, will link the Dammam port to the ports of Jebel Ali in the UAE, Hamad in Qatar, and Karachi in Pakistan.
LOCALIZATION-
Gov’t kicks off the final phase of e-documenting plan for localization contracts: Contracts related to localizing operations and maintenance for businesses in which the government holds at least a 51% stake are now required to be documented on the e-platform Qiwa as the Human Resources and Social Development Ministry rolled out the third and final phase of its e-documenting plan targeting businesses of all sizes, according to a statement.
REMEMBER- The ministry kicked off phase two of the initiative, which covered large businesses only, back in June. The initiative covers contracts for services including maintenance, catering, IT, and others.
REAL ESTATE-
The Real Estate Development Fund, the Saudi Real Estate Refinance Company (SRC), and the Saudi National Bank signed an MoU to boost liquidity in the secondary real estate sector and support mortgage refinance and real estate securitization, state news agency SPA reports.
ALSO- The Saudi National Bank launched a new mortgage finance product on the sidelines of the MoU signing ceremony, offering prospective homebuyers an interest rate of 2.59%.
DEBT WATCH-
The Natural Gas Distribution Company lined up a SAR 22.1 mn, five-year loan with Riyadh Bank to fund the expansion of its natural gas network in Riyadh’s Second Industrial City, it said in a disclosure to Tadawul.
