Maadaniyah extends MoU with IGL Group to set up aluminum foundry plant

01/03/2023 Argaam
Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

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

National Metal Manufacturing and Casting Co. (Maadaniyah) extended the renewable memorandum of understanding (MoU) signed with IGL Group for additional six months starting March 1.

 

In a statement to Tadawul, the company said that the MoU does not have any related costs or financial impact on its earnings. 

 

In February 2021, Maadaniyah  signed the memorandum with IGL Group to establish an aluminum foundry plant, as part of the company's plans to develop its projects, Argaam earlier reported. 

 

It is worth mentioning that the MoU was extended twice for six months in March and August 2022.

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