Italy’s EMMEDUE to transfer 3D panel tech to Al Kathiri for SAR 14 mln

Al Kathiri Holding Co.’s wholly-owned subsidiary, Alian Industry Co. has agreed with Italy’s EMMEDUE (M 2) to transfer the 3D concrete panel technology for a total value of EUR 3.33 million (SAR 14.3 million).

The technology will be transferred through purchasing the machinery and equipment necessary for manufacturing and operation, transfer of expertise, training of employees, and the rehabilitation of contractors willing to use this technique.

An advance payment will be paid at 28 percent of the deal value, while a documentary credit will be opened for the remaining sum.

The related financial impact will be estimated later on, Al-Kathiri said, adding that no related parties are involved in the deal.

In February 2019, Alian Industry Co. signed a non-binding memorandum of understanding with Italy-based EMMEDUE (M 2) to transfer technology of production of concrete panels three-dimensional, Argaam reported.