SNAM, Aramco sign MoU to develop supply chains in automotive industry

01/02/2023 Argaam
Logo ofSaudiNational Automotive Manufacturing Company (SNAM)

Logo of Saudi National Automotive Manufacturing Company (SNAM)

Saudi National Automotive Manufacturing Company (SNAM) signed a memorandum of understanding (MoU) with Saudi Aramco to develop supply chains in the automotive industry, especially in non-metallic materials.

 

The MoU was signed during the iktva Forum 2023 organized by Aramco.

 

The MoU will be the first to develop partnership with foreign companies to build supply chains for vehicles and move to complete manufacturing in the near future, SNAM said.

 

In January 2022, SNAM laid the foundation stone for the first-of-its-kind passenger car assembly plant Jubail Industrial City, with an expected production capacity of 30,000 vehicles.

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