“APICO” signs two memorandums of understanding to localize air conditioning products and establish a polypropylene factory
The Arab Plastics Industry Company (APICO) announced the signing of two memorandums of understanding to localize the manufacturing of ventilation and air conditioning products, and to establish a factory specializing in expanded polypropylene products.
The company said in a statement on its website "Saudi Arabia trading": It signed the first memorandum, yesterday, with Air International Thermal Systems Company for the purpose of cooperation to localize the manufacturing of ventilation and air conditioning products.
She explained that the memorandum is for the purpose of defining the framework of understanding on the initial mutual obligations and rights between the two parties and exploring the feasibility of cooperation to localize the manufacture of ventilation and air conditioning products.
The memorandum of understanding includes a number of generally accepted provisions that regulate the confidentiality of information.
This memorandum will come into effect from the date Its signature until December 31, 2026 or the signing of the agreement.
It stated that it signed the second memorandum, yesterday, with K Company. your. Nag, for the purpose of establishing a factory specialized in expanded polypropylene EPP products.
She indicated that the memorandum is for the purpose of determining the framework of understanding on the primary mutual obligations and rights between the two parties and exploring the feasibility of cooperation and establishing a factory specialized in expanded polypropylene EPP products, as part of the company’s expansion plans to enhance its production capacity and meet demand in the industrial sectors.
The memorandum of understanding includes a number of generally accepted provisions that regulate the confidentiality of information.
This memorandum will enter into force from the date of its signing until March 31, 2027 or the signing of the agreement.
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