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Saudi Chemical Company Holding (SCCH) has signed an MoU with Madrid-headquartered EXPAL Systems to localise its ammunition filling work.
The company said in a statement to the Saudi Stock Exchange (Tadawul) that the aim is to localise production of military projectiles within its military industries complex in Atshanah, outside Riyadh.
“Through this agreement the company aims to diversify local military industries, increase local content, enhance supply chain and drive non-oil economic development towards achieving the kingdom of Saudi Arabia’s Vision 2030 goals,” the statement said.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
