Sadirat inks MoU with GTRONICS for Syria’s smart meters project

Logo of Saudi Industrial Export Co. (Sadirat)

Saudi Industrial Export Co. (Sadirat) signed today, March 9, a non-binding memorandum of understanding (MoU) with GTRONICS Co. for the cooperation and partnership on the smart electric meters project in Syria.

In a statement to Tadawul, the company said that the MoU will become effective from the date of its signing and shall remain valid for 12 calendar months. It added that this period may be extended or renewed for a similar duration upon mutual agreement.

The signing parties included GTRONICS and Significa Co.

Furthermore, the MoU entails preparing a feasibility study for forming an alliance, defining the roles of alliance members, and identifying funding sources needed to supply and implement single-phase and three-phase smart electric meters in Syria.

Sadirat also noted that there is no financial impact from the signing of MoU at present, adding that any financial impact will be announced upon the signing of any future agreements or contracts.