Saudi Chemical Co. announces signing a Memorandum of Understanding with EXPAL Systems
| Element List | Explanation |
|---|---|
| Introduction | Riyadh, Saudi Arabia - March 09, 2022 - Saudi Chemical Company Holding (SCCH), through its subsidiary Saudi Chemical Company Limited announces signing a Memorandum of Understanding (MOU) with EXPAL Systems for the localization of ammunition filling. |
| Memorandum Signing Date | 2022-03-09 Corresponding to 1443-08-06 |
| Counterparty | EXPAL Systems |
| Memorandum Subject | Localize production of military projectiles within its Military Industries Complex in Atshanah -Riyadh, to improve supply chains integration.
Through this agreement the company aims to diversify local military industries, increase local content, enhance supply chain and drive non-oil economic development towards achieving the kingdom of Saudi Arabia’s Vision 2030 goals. |
| Memorandum Duration | One year |
| Related Parties | There are no related parties |
| Financial Impact | The financial impact of this announcement cannot be determined |
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