Alloy wheel MOU

Alloy wheel MOU

Saudi Arabia-based Abdul Latif Jameel has signed a memorandum of understanding (MoU) with Japanese company Kosei Aluminium to explore the feasibility of a joint venture that would manufacture aluminium wheels and components in the kingdom.

During a visit by King Salman bin Abdulaziz Al Saud in March 2017, Saudi Arabia and Japan agreed to deepen existing bilateral relations between the two countries and establish a solid strategic partnership, as part of the Saudi-Japan Vision 2030, said a statement.

This agreement, signed in Tokyo, Japan, will now see both companies study the potential of utilising Saudi Arabia’s rich aluminium deposits and competitive energy costs through a joint venture.

This would contribute to the development of the manufacturing industry in Saudi Arabia – a key priority of Saudi Vision 2030.

For more information visit: http://www.tradearabia.com/news/IND_339658.html

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