Riyadh – Mubasher: Batic Investments and Logistics Company has extended a Memorandum of Understanding (MoU) with Almarshad Group Holding and Smart Cities Solutions Company to form an alliance.

The alliance will enable the companies to apply for qualification to enter the competition for the construction and management of parking in the Olaya district in Riyadh for a three-month period ended 29 October, according to a bourse filing on Thursday.

It is noteworthy to mention that on 2 May 2021, Batic Investments signed a sale purchase agreement with Smart Parking Holding Company to acquire a 35.8% stake in Smart Cities Solutions Company for Telecom and Information Technology.