Saudi Chemical unit inks MoU with NCMS to develop defense industries

07/02/2024 Argaam
Logo of SaudiChemicalCompany Holding

Logo of Saudi Chemical Company Holding

Saudi Chemical Company Holding (SCCH), through its subsidiary Saudi Chemical Co. Ltd., inked a memorandum of understanding (MoU) with The National Company for Mechanical Systems (NCMS) to discuss cooperation to develop the defense industries in Saudi Arabia, according to a statement to Tadawul.

 

The signing ceremony took place during the World Defense Show, in which Saudi Chemical Ltd. is participating as a gold sponsor.

 

The five-year MoU aims to enhance collaboration between the two companies in developing technologies and exchanging expertise to support Saudi Arabia’s plans to localize defense industries and enhance self-sufficiency in this field.

 

The financial impact cannot be determined at present, the statement added.

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