Saudi Aramco signs tech MoU with New Zealand firm for SAR 93 mln

New Zealand-based Pultron Composites, and its Dubai subsidiary Mateenbar, signed a joint memorandum of understanding (MoU) with Saudi Aramco for SAR 93.75 million.

Mateenbar is corrosion-free and lightweight as it provides a longer lifespan and minimal life cycle costs compared to steel reinforcement.

“Saudi Aramco is endorsing our Mateenbar technology and mandating the use of GFRP rebar in slab-on-grade, seawalls, sidewalks, drainage channels and other coastal structures,” Pultron CEO, Jasper Holdsworth, said.

With Saudi Aramco’s non-metallic initiative, the MoU with Pultron aligns with their proactive approach to managing corrosion in Saudi Arabia and throughout the Middle East.

“The agreement includes co-operation in the development of the technology. Saudi Aramco and Mateenbar are now partnering with academic and engineering companies to increase application areas and develop new products,” Nick Crofts, CEO of Mateenbar, said.

Mateenbar is the principal supplier of GFRP rebar in the 21 kilometer-long Jizan Flood Mitigation Channel in Saudi Arabia.