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INFRASTRUCTURE
AWPT signs off contract for water network operations in Buraidah:Alkhorayef Water and Power Technologies Company (AWPT) signed off a SAR 87.2 mn contract with the National Water Company to operate and maintain water and sewage networks and their accessories in Buraidah for a period of 36 months, it said in a disclosure to Tadawul yesterday.
LOGISTICS
Munawla + SIPCHEM: Nomu-listed logistics company Munawla Cargo will provide land transportation services within the kingdom and neighboring Gulf Countries to Zamil Group Holding’s subsidiary Sahara International Petrochemical (SIPCHEM), according to a Tadawul regulatory filing. The value of the three-year contract wasn’t disclosed.
CONSTRUCTION
Tasnee begins ethylene crushing plant expansion: Privately-owned industrial and petrochemical company National Industrialization (Tasnee) has begun the expansion of its ethylene crushing facility with Sipchem, Arab News reported yesterday, citing statements by company CEO Mutlaq Al Morished to Al Ekhbariya. He said that his company was able to lower its loans by over 66% to less than SAR 9 bn and forecasted 1Q 2024 to see a slight 2%-3% increase in prices except for polypropylene which is witnessing a global glut.
MANUFACTURING
Group Five Pipes Saudi, Aramco sign off steel pipes contract: Spiral pipe provider Group Five Pipe Saudi has inked a SAR 34 mn contract with Aramco to manufacture and supply spiral-welded steel pipes for one of the oil company’s projects in the Eastern region, it said in a disclosure to Tadawul yesterday.
