Subscribe
24NEWSHOUR 24NEWSHOUR
Write For Us
  • Home
  • Business
  • Education
  • Entertainment
  • Health & Lifestyle
  • News Update
  • Technology
  • Write For US
  1. Home
  2. Business
  3. Motherson and Kingdom of Saudi Arabia to work together to evaluate opportunities for industrial development in Saudi Arabia

Motherson and Kingdom of Saudi Arabia to work together to evaluate opportunities for industrial development in Saudi Arabia

by Ankur Sharma August 27, 2022

Share:

India – 27th August 2022 Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Ltd.] and Ministry of Investment, Kingdom of Saudi Arabia (MISA), have signed a Memorandum of Understanding (“MoU”) which aims to identify investment development opportunities for industrial and service activities in the Kingdom of Saudi Arabia (KSA).

The MoU encourages joint cooperation by SAMIL and MISA in the development of automotive parts industry in the Kingdom of Saudi Arabia (KSA). Both partners will also explore the investment opportunities in other industrial sectors as well.

Ministry of Investment, Kingdom of Saudi Arabia (MISA) is responsible for the investment affairs in Kingdom of Saudi Arabia. Under the scope of this MoU, MISA will provide necessary support to Motherson to identify potential areas of investments in the KSA.

 Commenting on this partnership, Mr. Fahad Alnaeem, Deputy Minister for Investment Development, MISA, said,

“This MoU attributes to complement the efforts made in the development of the auto industry in Kingdom of Saudi Arabia. We shall continue exploring collaboration opportunities with Motherson in different sectors.”

Commenting on this partnership, Mr Vivek Chaand Sehgal, Chairman, Motherson, said,

“Motherson believes in creating its own path. We feel honoured and delighted to be partnering with Kingdom of Saudi Arabia (KSA). Together with Ministry of Investment, Kingdom of Saudi Arabia (MISA), we are looking forward to creating the industrial ecosystem for automotive and other industries in the KSA. We thank MISA for their encouragement and support to industries in the region and their trust in the abilities of Motherson.”

Previous post
Next post

Ankur Sharma (Website)

administrator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • L&T Wins (Major*) Contracts for its Hydrocarbon Business
  • Experience an instant and convenient solution for Loan Repayments with Amazon Pay and Bharat BillPay
  • STAR SPORTS UNVEILS AN ELITE PANEL OF DECORATED EXPERTS AND LEGENDS FOR TATA IPL 2023
  • Singapore a preferred Nightlife and Cruise destination for Indian millennials: Tripoto’s young travellers survey
  • Godrej Interio introduces ‘Optimizer Plus’ Office Storage Solution

Categories

  • Business
  • Education
  • Entertainment
  • Health & Lifestyle
  • News Update
  • Sports
  • Technology

Never Miss a Thing

The stories you care about, are delivered daily.

Quick Links

24 News Hours
Advertise
Customer Service
Help

More from 24newshour

Business
Education
Entertainment
[email protected] News Hour

Legal

Terms of Use
Privacy Rights
Privacy Preferences
AdChoices

Connect with us

Get our latest stories in the feed of your favorite networks

Stay in the Know

Sign up for our daily newsletter

24NEWSHOUR 24NEWSHOUR
Copyright 2023. All Right Reserved

Back to top