The duration of the Memorandum is six months during which the preliminary studies and the financial model of the project will be re-verified
Saudi Chemical Company Holding (SCCH), through its subsidiary Saudi Chemical Company Limited (SCCL), and Dyno Nobel signed a non-binding Memorandum of Understanding for establishing a production facility to produce Ammonium Nitrate and Nitric Acid in Ras Al Khair.
The duration of the Memorandum is six months, during which the preliminary studies and the financial model of the project will be re-verified, and the preliminary designs will be created by one of the specialized engineering companies in order to make the final assessment of the feasibility of the project.
This project is the first of its kind in the region, which will contribute to supporting vital sectors and strategic projects linked to the Kingdom’s Vision 2030, by localizing the production of raw materials necessary for the manufacturing of civil and military explosives to develop defense and mining industries solutions in Saudi Arabia.
Commenting on the MoU, Thamer Al-Muhid, GCEO & MD, said: “We are proud to be partnering with Dyno Nobel and bringing together expertise and resources to promote the realization of our Country’s ambitious Vision 2030 programs. We are confident that this collaboration will enhance innovation, create value, develop, and localize the Kingdom's industrial landscape”
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