Logo of Saudi Chemical Co. Holding (SCCH)
Saudi Chemical Co. Holding (SCCH) signed today, Jan. 15, a non-binding memorandum of understanding (MoU), through its subsidiary, Saudi Chemical Co. Ltd, with Orica Mining Services Portugal for technical cooperation on the localization of ammonium nitrate and nitric acid production.
Under the MoU, a project to localize the ammonium nitrate and nitric acid industry will be set up to be the first of its kind in the region. This is besides introducing modern technologies in the mining sector to promote the principles of safety and productivity, as well as environmental, social and governance (ESG) standards.
This is to support industries related to mining and exploration, construction and infrastructure, as well as the cement industry, in compliance with the objectives of the Kingdom's Vision 2030.
The MoU is valid for six months, and there are no related parties. The related financial impact cannot be determined at this stage, the statement added.
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