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LOGISTICS-
Mawani adds new shipping service to Dammam: The Saudi Port Authority (Mawani) has added a new weekly service, operated by the Mediterranean Shipping Company (MSC), to King Abdul Aziz Port in Dammam, it said in a statement yesterday. The new shipping service, dubbed East Africa Express, will connect Dammam’s port to India’s Mundra Port, Pakistan’s Qasim Port, and UAE’s Abu Dhabi and Jebel Ali Ports. It will offer a capacity of up to 11k TEUs.
HEALTHCARE-
Tadawul-listed National Medical Care has landed a three-year SAR 381 mn contract with Prince Sultan Military Medical City, it said in a disclosure to Tadawul yesterday. The agreement — which is still subject to regulatory approval — will see the healthcare provider provide medical services to the armed forces hospital’s long-term care patients.
ALSO- National Medical Care’s board has recommended a dividend payout of SAR 89.7 mn at SAR 2 per share for FY2023, it said in a separate disclosure. The distribution date is yet to be announced.
TECH-
Smarter construction management is coming to the market: Homegrown IoT-based construction workforce management solution Wakecap signed partnership agreement with US-based AI construction technology company OpenSpace, according to a statement. The partnership hopes to convince local contractors that remote progress monitoring and tracking will help them better track and manage projects.
MANUFACTURING-
Al Yamamah Steel Industries has begun commercial operations of the first phase of its Jeddah pipes plant expansion, it said in a disclosure to Tadawul yesterday. The start of operations at the first phase of the SAR 33 mn plant expansion comes a few years after the steel producer’s board signed off the plan in 2021. The first phase was first set to begin operations in the second quarter of 2022, before being pushed back to Q2 2024 last year.
