Bina Industrial Investment Holding Co., an affiliate of Bawan Co., has signed a memorandum of understanding (MoU) with the National Housing Co., the Saudi-listed firm said in a bourse statement.
The agreement is for three years from August 15, 2017 with no material financial impact to be realized.
The MoU allows the two parties to explore joint opportunities in the field of construction technology.
The companies will work together to set up a joint construction technology project, implement housing development projects and establish housing units production plants which depend on construction technology.
Bina and National Housing also plan to exchange technical expertise.
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