Saudi Chemical inks MoU with NIDC to support investments

07/06/2023 Argaam
Logo of Saudi Chemical Co. Holding (SCCH)

Logo of Saudi Chemical Co. Holding (SCCH)

Saudi Chemical Co. Holding (SCCH) signed today, June 7, a memorandum of understanding (MoU) with National Industrial Development Center (NIDC), the company said in a statement on Tadawul. 

 

The MoU aims to support the company in developing its various investments, including pharmaceutical manufacturing and securing the pharmaceutical supply chain. In addition, it will support investment in the military and civil sectors through the manufacture of explosives for military and civil purposes used in mining, infrastructure and construction projects, oil and gas exploration, as well as transport and storage of explosives services. 

 

The MoU has a term of one year with no financial impact expected, the company said, noting that no related parties are included in the deal. 

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