Saudi Chemical signs MoU with Spain’s EXPAL on localization of ammunition filling

10/03/2022 Argaam

Logo of Saudi Chemical Holding Co.

Saudi Chemical Holding Co. (SCHC) signed, on March 9, a memorandum of understanding (MOU), through its subsidiary, Saudi Chemical Co. Ltd, with Spain-based EXPAL Systems in Riyadh.

 

The MoU was signed for the localization of ammunition filling, production of military projectiles in the Military Industries Complex in Atshanah, Riyadh, to improve supply chains integration.

 

The company aims to diversify local military industries, increase local content, enhance supply chain and drive non-oil economic development towards achieving Vision 2030 goals.

 

The MoU has a duration of one year, with no related parties.

 

The financial impact of the deal cannot be determined, the statement added.

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