Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) on Sunday announced extending the memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company for the coming three months, effective 22 August.

The MoU is allocated for investing in the operation of the silica mine located in the northern region of Taima, according to a statement to the Saudi Stock Exchange (Tadawul).

The financial impact or any other developments will be announced later, SIEC added.

By 2:42 pm KSA time, SIEC’s stock rose 0.16% to SAR 32.10.