21 January 2020
Saudi Arabian General Investment Authority (SAGIA) announced on Monday that it has signed a $164 million Memorandum of Understanding (MoU) with China's Shen Gong New Materials to develop an electronics manufacturing facility in the kingdom.

The facility would be developed in three phases, SAGIA announced on its official Twitter account.

Details about project location, timelines and product mix weren't disclosed.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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