Saudi Top Trading Co. signed a non-binding memorandum of understanding (MOU) with Rowad AlRiyadh Contracting Co. to cooperate and establish a framework for developing and producing a wide range of construction solutions and technologies.
The company also aims to develop a system for building recyclable plastic molds for the first time in Saudi Arabia.
The MOU was signed under the auspices of the Ministry of Energy, represented by the Oil Sustainability Program (OSP), and the Ministry of Municipal Rural Affairs and Housing, represented by the Modern Construction Initiative, Saudi Top said in a statement to Tadawul.
The MOU is valid for 36 months from the signing date or until the parties enter into a binding agreement.
There are no related parties, the company added.
