Maadaniyah extends MoU with IGL Group for aluminum foundry plant

Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

National Metal Manufacturing and Casting Co. (Maadaniyah) extended a memorandum of understanding (MoU) with IGL Group to establish an aluminum foundry plant for additional six months, starting September 2022.

In a bourse statement, the company stated that no financial impact or relevant costs were expected from the MoU extension, the statement added.

In March, Maadaniyah extended the MoU signed with IGL Group to establish an aluminum foundry plant for six months, starting March 2022.

In February 2021, the company signed a six-month renewable MoU with IGL Group to establish an aluminum foundry plant, Argaam reported.