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RAIL-
Saudi Arabia Railways (SAR) inked a contract with Ismail Abudawood and Procter & Gamble (P&G) Ltd to transport products across the Kingdom via rail, according to a statement. No investment ticket or timeline was disclosed as part of the statement.
The details: The partnership looks to boost transport product speed and efficiency by leveraging rail solutions, while also curbing emissions and safeguarding roadway infrastructure by limiting truck movements, the statement said. The move also comes in line with national efforts to boost the Kingdom’s standing as a global logistics leader.
Iran has launched the 37 km Rasht-Caspian railway which is the final phase of its “sea to sea” corridor linking ports in Iran’s south and north regions, Tasnim reports. The railway carries an investment ticket ofIRR 30 tn (USD 720 mn) and forms part of the International North-South Transport Corridor.
TRADE-
UAE’s DMCC + Seoul Business Agency partner to boost trade: The UAE’s Dubai Multi Commodities Center (DMCC) has inked an MoU with South Korea’s Seoul Business Agency (SBA) to boost trade, according to a statement. The two sides will support South Korean SMEs in Dubai through the Business Acceleration Platform (AGCC), which will facilitate the exchange of knowledge, resources, and expertise. The number of South Korean businesses setting up shop in Dubai rose by 20% last year, the statement said.
Algerian energy firm Sonatrach has inked an agreement with Slovenian natural gas trader Geoplin to increase gas exports to Slovenia, Slovenia Times reports. Algeria will increase its natural gas exports by over 66% starting 2026, adding an additional 200 mn cubic meters per year. Algeria will employ its gas pipeline to Italy to deliver the natural gas to Slovenia, Xinhua reports.
The Dubai International Chamber will hold an African roadshow in June to strengthen trade with Senegal and Morocco, according to a press release. The roadshow will take place from 3 to 7 June and is part of the New Horizons initiative which looks to promote the global reach of Dubai-based businesses.
ZONES-
NERIC + Eastern R&E to cooperate on railway car production in SCZone: Egypt’s National Railway Industries Company (NERIC) and South Korea-based supplier for manufacturing components for railway cars Eastern R&E have inked an agreement to develop railway vehicle production projects in Egypt, exchange technical information, and transfer technology, according to a statement. The agreement was signed during a visit by a delegation from the Egyptian-Korean Development Association (KEDA) to the SCZone, which is looking to attract Korean investments to Egypt, according to the statement.
About NERIC: NERIC is a JV formed by a consortium of Egyptian companies and government entities to establish a rolling stock plant in the SCZone’s East Port Said Industrial Area, according to its website.
SUPPLY CHAINS-
Saudi’s Sure Global Tech signed a SAR 13.9 mn contract to diversify and develop supply chains in commodities, minerals, and others with KSA’s Commerce Ministry in cooperation with the Foreign Trade Authority, it said in a disclosure to Tadawul. The contract sees the IT firm developing technology systems and adopting AI to provide recommendations on foreign trade
DP World + Maalexi partner to boost food security: DP World has signed an agreement with UAE-based dynamic risk management outfit Maalexi to enhance operational efficiency and streamline access to a wider range of food products at Jebel Ali Port, according to a press release. The partnership aims to expedite delivery time for essential food supplies for businesses across the UAE and the wider region.
Danone Egypt is looking to source 90% of its production needs from local suppliers by 2026, General Manager Hesham Radwan told Zawya Projects. The company — which already sources 70% of its needs from local sources — plans on promoting Egypt as an export hub for raw materials, packaging, and finished products, Radwan said.
EQUIPMENT-
Equipment manufacturer Kanoo Machinery’s units in KSA and UAE sealed a partnership agreement with leading Irish forklift maker Combilift to introduce sustainable forklifting solutions in the region, according to a statement. Those will focus on material handling equipment to help “meet diverse industry needs while supporting environmental goals.” The financial terms of the partnership agreement were not disclosed. Kanoo Machinery is a member of leading family-owned conglomerate Yusuf bin Ahmed Kanoo.
CARGO-
Saudi Arabia and Nigeria are to resume cargo flights after an extended period of suspension as the pair look to boost trade and logistics, Channels reported, citing statements by Nigeria’s Minister of Aviation, Festus Keyamo. The decision to restart the flights came during a recent visit to Saudi Arabia, Keyamo said. No date for the resumption of flights was announced.
REMEMBER- Emirates Skycargo announced plans last week to recommence flights to Nigeria, effective 1 October, and will offer 300 tonnes of weekly bellyhold cargo capacity for flights in and out of Lagos.
OTHER STORIES WORTH KNOWING THIS MORNING-
- DTC to provide Talabat with delivery services: Dubai Taxi Company (DTC) and Talabat have inked an agreement for DTC’s fleet to be employed for transport delivery solutions to Talabat’s customers across the UAE. (Press release)
- Italian flagship airline ITA Airways has been cleared to operate regular flights between Saudi and Italy starting Sunday, 2 June. ITA Airways will operate five weekly flights between Rome and Riyadh, Gaca said. (X)
- Saudia Dairy and Foodstuff inked a long-term lease contract with the Saudi Authority for Industrial Cities and Technology Zones. The agreement will see the Tadawul-listed food manufacturer set up a new warehouse in Jazan on a rented area of 15k sqm. Information about the size of the transaction wasn’t disclosed. (Press Release)
