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National Building & Marketing Co. agreed with Yuzhmash International Co. Ltd. to extend the memorandum of understanding (MoU) signed between the two parties for three months until Nov. 2.
The company said in a bourse statement that the extension will help to complete the regular and legal procedures with the relevant authorities to establish the limited liability firm working in the field of various military industries.
In May, National Building signed a MoU to establish a limited liability company with a capital of SAR 100,000 in partnership with UK-based company working in the field of military industries, Argaam earlier reported.
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