Sign in
MANUFACTURING-
Al Mousa Cables is looking into setting up shop in Egypt: Riyadh-based Al Mousa Cables plans to establish its first cable manufacturing facility in Egypt with a EUR 50 mn investment, Ashraq Business reports, citing an unnamed company official. The facility will be built in partnership with an undisclosed Egyptian investor and will be entirely self-financed, the official said.
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
The details: The factory will span some 40k sqm in Egypt’s Tenth of Ramadan, with the first phase set to begin operating in mid-2025. The factory will have a production capacity of some 6k kg of specialized cables per month in its first phase, with the company targeting the export of 50% of its production to international markets, particularly North Africa.
EXPANSION-
Egypt’s Eva Pharma has tapped a local contractor to help it implement its USD 150 mn pharma research and manufacturing complex in the Sudair Industrial City, managing director of the local drugmaker’s Saudi cluster Amgad Talaat told Al Arabiya without disclosing the name of the contractor. The contractor broke ground on the project last month and the first of the complex’s five pharma factories is set to come online next year — all five factories will be operational by 2030.
Remember: Eva Pharma inked an agreement with the Saudi Authority for Industrial Cities and Technology Zones to build the complex back in 2023.
STARTUP WATCH-
The Youth Pitches initiative crowns winners: The Salamtak platform came in first place at the Youth Pitches initiative securing USD 50k in funding, state news agency SPA reports. Zero Net platform secured the second spot and MembroLogy came third, receiving funds of USD 20k and USD 10k, respectively.
About the initiative: Projects part of the initiative — launched by the Arab Youth Center and the King Khalid Foundation — completed a two-week training program and will continue to receive support until July 2025. The initiative aims to engage youth and governments in addressing challenges in employment, education, health, environment, and culture.
RENEWABLES-
The National Water Company started generating electricity from wastewater treatment at the Heet plant in Riyadh and the Ajyal plant in the Eastern Region, the PIF-owned company said in a statement. The Ajyal plant now generates 600 kWh of electricity, covering 30% of its power needs, while Heet produces 2.8k kWh, covering 46% of its power needs. The company is currently seeking permits to produce biogas and renewable energy at its facilities.
TRANSPORTATION-
Saptco to operate shuttle transportation service for pilgrims: Al Madinah Region Development Authority awarded the Saudi Public Transport Company (Saptco) a SAR 113.8 mn, one-year contract to operate shuttle transportation services for the Pilgrims Experience Program, according to a disclosure to Tadawul.
