Saudi Chemical unit inks MoU with NCMS to develop defense industries

07/02/2024 Argaam

Saudi Chemical unit inks MoU with NCMS to develop defense industries

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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