Saudi Arabia’s National Metal Manufacturing and Casting Company (Maadaniyah) has signed an agreement with Gulf Triple Contracting Company for the construction of its new valves factory in the kingdom.
The manufacturing plant will be established at the King Salman Energy Park (Spark), situated in the Eastern Province of Saudi Arabia between Dammam and Al Ahsa, according to Maadaniyah’s filing to the Saudi exchange.
The contract for the project is valued at approximately SAR 34 mln (USD 9 mln), and the expected duration of the project is 12 months, starting from July 2023. Maadaniyah stated that work on this contract is scheduled to commence next month, with a targeted completion date set for mid-2024.
Maadaniyah is the owner of four business units, including a wire drawing plant, a metal casting plant, an axle manufacturing plant, and a machining and fabrication facility located in Jubail and Dammam. The establishment of the new valves factory marks a significant expansion for the company and reinforces its commitment to the development of the manufacturing sector in Saudi Arabia.
1 USD / 3.75 SAR
