Joint Venture11 Apr 2025, 12:43 am
Ratnamani Metals & Tubes Ltd. to Enter Joint Venture with Saudi Electric Supply Company
AI Summary
Ratnamani Metals & Tubes Ltd. has executed a Joint Venture cum Shareholders Agreement with Saudi Electric Supply Company Limited, Kingdom of Saudi Arabia. The joint venture company, to be incorporated in Dammam, Saudi Arabia, aims to provide critical tubing solutions to consumers in the KSA/GCC region and manufacture seamless products locally. The venture is expected to commence its business operations post-incorporation.
Key Highlights
- Ratnamani Metals & Tubes Ltd. and Saudi Electric Supply Company Limited have agreed to form a joint venture company in Saudi Arabia.
- The joint venture company will provide critical tubing solutions to consumers in the KSA/GCC region and manufacture seamless products locally.
- The joint venture company is expected to commence its business operations post-incorporation.
- Ratnamani Metals & Tubes Ltd. will hold 75% of the equity shareholding in the joint venture company, while Saudi Electric Supply Company Limited will hold 25%.
- The joint venture company will be a subsidiary of Ratnamani Metals & Tubes Ltd.