| Element List | Explanation |
|---|---|
| Introduction | Saudi Arabian Amiantit Company announces that one of its subsidiaries, “Saudi Amicon Company Limited” (in which Amiantit owns 99.93%), signed on Tuesday 22-03-1444H corresponding to 18-10-2022G a memorandum of understanding with the National Water Company, with the aim of supporting, promoting, growing and developing the local industry for the production of water valves, raising the level of their performance, and giving priority to supporting local content in this field. |
| Memorandum Signing Date | 2022-10-18 Corresponding to 1444-03-22 |
| Counterparty | National Water Company |
| Memorandum Subject | To develop local content of water valve industry |
| Memorandum Duration | one year as of 18-10-2022, and automatically renewable for the same duration or durations. |
| Related Parties | No related party |
| Financial Impact | No financial effects. |
| Additional Information | As far as the material effect of signing the MOU, this MOU will enhance the competitive capacity of the company and give it priority to compete with the global companies in the local level which will be positively reflected on the volume of the sales with the reasonable prices. |
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