Saudi, UAE to set up Riyadh military equipment plant at AED 50 mln

21/02/2019 Argaam

 

UAE-based Al Asbar Group has signed an agreement with a Saudi Arabian holding company to build an AED 50 million military equipment plant in Riyadh.

 

The new entity is expected to record more than AED 200 million in sales in the third year of operations, Al-Ittihad newspaper has reported.

 

Both companies hired Ento Capital Management Limited to take the necessary measures, in line with the applied laws in the UAE and Saudi Arabia. 

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