New Launch19 Aug 2025, 09:21 pm
Super Iron Foundry Ltd Subsidiary Signs 10-Year Land Lease Agreement in Saudi Arabia for Foundry Setup
AI Summary
SIF Saudi Arabia Company Limited, a wholly owned subsidiary of Super Iron Foundry Ltd, has digitally signed a land lease agreement for 10 years with Saudi Industrial Authority (MODON) for setting up a foundry and manufacturing unit in the Kingdom of Saudi Arabia. The allocated land, situated in Dammam 3rd Industrial City in Plot No: 0300003013, measures around 9141 square meters. This diversification in manufacturing base is expected to enable the company to deliver cost efficient products and maintain a seamless supply chain to its global clients, especially in times of tariff wars.
Key Highlights
- Super Iron Foundry Ltd's subsidiary signs a 10-year land lease agreement with Saudi Industrial Authority for foundry setup
- The new foundry and manufacturing unit will be located in Dammam 3rd Industrial City, Saudi Arabia
- The allocated land measures around 9141 square meters
- This diversification in manufacturing base aims to ensure cost efficiency and seamless supply chain for global clients
- The strategic move comes amidst tariff wars, highlighting the company's resilience and adaptability