Sign in
ZONES-
Turkey’s DNM is setting up two projects in Egypt: Egypt’s General Authority of the Suez Canal Economic Zone (SCZone) has greenlit two projects by DNM Textile — an investment venture of Turkish clothing firm Eroglu Holding, according to a statement released on Saturday. DNM received approval to move forward with a USD 40 mn denim factory in Qantara West Industrial Zone, as well as an industrial complex for spinning, weaving, clothing, mattress, and furnisher production. Some 70% of the denim factory’s production will be exported.
REMEMBER- Local ready-made garment maker Eroglu Egypt — the local arm of the Turkish Eroglu Holding — will build a USD 150 mn ready-made clothing factory in Qantara West Industrial Zone, under a framework agreement inked with the SCZone. Meanwhile, Turkey’s Jade Textile signed a framework agreement to invest USD 30 mn in ready-made garments unit for a larger factory that will also house a USD 35 mn dyeing unit.
The SCZone also inked a MoU with Poland-based grain protection and storage firm subsidiary Feerum Egypt to build a EGP 1.6 bn grain storage silo manufacturing factory in the East Port Said Industrial Zone, according to a statement released last week. The move aims to boost the country’s grain storage and export capabilities to enhance national food security, the statement said. The factory, covering 52 km sq, will be used to design, manufacture, and construct grain storage silos and accessories.
AND- The Egyptian cabinet greenlit a draft bill allowing MSC cargo subsidiary Medlog to construct, operate, and maintain the new Tenth of Ramadan dry port and logistics center, according to a statement released last week. Medlog first snagged the bid for the project in June and inked in August a 30-year public-private partnership (PPP) contract for the development and operation of the dry port with Egypt’s General Authority for Land and Dry Ports (GALDP). The cabinet has also approved the amendments to the investment law that would facilitate private investments in freezones through partnerships or investment contracts with state entities.
LOGISTICS HANDLING-
Mubarrad to deliver Nadec’s products locally and regionally: Riyadh-based Saudi Transport and Investment Company (Mubarrad) — a subsidiary of Batic Investment and Logistics Company — has signed a SAR 32.2 mn three-year contract with dairy firm National Agricultural Development Company (Nadec) to transport its range of refrigerated, non-refrigerated, and dry products across domestic and regional markets, it said in a disclosure to Tadawul. Under the contract, Mubarrad will use its trucks and trailers to transport Nadec’s products across the GCC and other Arab markets.
ACT deploys battery electric container handling equipment: Aqaba Container Terminal (ACT) has become the first terminal in the Middle East to employ the use of full battery-electric container handling equipment, according to a statement released on Friday. The equipment includes a reach stacker operated on a 507 kWh fully charged battery capacity, an empty handler with a 350 kWh capacity, and a terminal truck with a 282 kWh battery capacity (watch, runtime: 2:01). The use of the new equipment should contribute to slashing maintenance costs and is part of ACT’s strategy to become a carbon-neutral terminal by 2040.
The move is part of APM Terminals’ USD 60 mn port equipment electrification pilot project, according to the statement. ACT is looking to complete the pilot project by 2025.
Cluster2 to offer reduced ground handling services + air freight rates in Jazan: Saudi aviation firm Cluster2 will support traders, farmers, and exporters in the Jazan region — one of the KSA’s top agricultural producers — by charging less for ground handling services from Saudi Sal Logistics Services and extending special air freight rates on Saudia Cargo, according to a statement released last week. The initiative aims to stimulate exports of local agricultural crops, particularly during the current mango season, according to the statement. The initiative reduces export fees and in turn strengthens Saudi exports, logistics specialist Nashmi Al Harbi told Asharq Al-Awsat on Tuesday.
AVIATION-
Menzies Aviation to run fuel farm at one of US’ largest airports: Aircraft ground handling firm Menzies Aviation, a subsidiary of Kuwaiti logistics giant Agility, will manage and operate a fuel farm and hydrant fueling system at Texas’s Houston George Bush InterContinental Airport, according to a statement released on Thursday. The move further solidifies the firm’s position as the largest fuel farm operator in North America, operating 56 facilities across the US and Canada.
SHIPPING + MARITIME-
Mawani adds new shipping service to Jeddah Islamic Port:The Saudi Ports Authority (Mawani) has added a new weekly shipping service, RGI by Unifeeder, to its Jeddah Islamic Port, connecting the country to Indian ports, according to a statement on Thursday. The new service offers a capacity of up to 2.8k TEUs and will connect the kingdom to four regional and international ports, including India’s Mundra and Nhava Sheva, the UAE’s Jebel Ali, and Egypt’s Sokhna.
ICYMI- Mawani also added a new shipping service, Galex by Emirates Shipping Line, to its King Abdul Aziz Port in Dammam last week, improving connectivity to East Asian ports.
INVESTMENT WATCH-
Adia buys into Indian railway equipment manufacturer: The Abu Dhabi Investment Authority (Adia) has bought some 10 mn equity shares of India’s railway equipment manufacturer Texmaco Rail, through the company’s qualified institutional placement (QIP), CNBC TV18 reported on Thursday. The share purchase represents 6.80% of the total QIP, which saw Texamaco raise a total of INR 2.5 bn.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Emrill + Clemtech to launch Emrill Rail in the UAE: Dubai-based facilities management service provider Emrill is partnering with rolling stock and rail sector consultant and recruitment specialist Clemtech to launch Emrill Rail to provide services to the UAE rail sector. (Statement)
- Emirates introduces SAF at Amsterdam airport: Dubai-based Emirates is kicking off its fuel partnership with Neste at Amsterdam Schiphol Airport, which will involve introducing 2 mn gallons of blended SAF into the airport’s fueling systems throughout 2024. (Statement)
- Canada Jetlines expands footprint into Morocco: Canada Jetlines is set to increase its fleet into Morocco by adding two additional flights under a Wet Lease/ACMI agreement with Air Arabia Morocco. The planes will operate flights between Western European destinations and Morocco. (Statement)
- Air Arabia resumes Sharjah to Gizan flights: Emirati low-cost carrier Air Arabia is reintroducing three-weekly flights from the UAE’s Sharjah to Gizan, Saudi Arabia, linking Sharjah International Airport with King Abdullah bin Abdulaziz International Airport. (Wam)
- Menzies boosts Indonesia presence:Agility subsidiary Menzies Aviation has inked an MoU with Southeast Asian aviation and cargo company InJourney Aviation Services to expand its footprint across Indonesia. (Statement)
- Flydubai adds new KSA destination: UAE airline Flydubai will operate a twice-weekly service from Dubai International Airport to Red Sea International Airport, KSA starting 18 April. (Statement)
- Akasa Air flies to Doha: India’s Akasa Air has launched four direct flights a week to Qatar’s Hamad International Airport from India’s Chhatrapati Shivaji Maharaj International Airport. (Statement)
