Joint Venture20 Jan 2026, 05:14 pm
Unimech Aerospace and Manufacturing Ltd. Forms Joint Venture with Yusuf Bin Ahmed Kanoo Company Limited in Saudi Arabia
AI Summary
Unimech Aerospace and Manufacturing Ltd. and Yusuf Bin Ahmed Kanoo Company Limited have formed a joint venture to establish an advanced precision machining and remanufacturing facility in the Kingdom of Saudi Arabia. The joint venture will cater to upstream and downstream oil & gas applications and allied energy sectors, aligned with IKTVA requirements and supporting the objectives of Saudi Vision 2030. The total investment into the JVC is expected to be up to USD 18 Million.
Key Highlights
- Unimech Aerospace and Manufacturing Ltd. and Yusuf Bin Ahmed Kanoo Company Limited have formed a joint venture for an advanced precision machining and remanufacturing facility in Saudi Arabia.
- The joint venture aims to cater to upstream and downstream oil & gas applications and allied energy sectors.
- The activities of the JVC will be aligned with IKTVA (In-Kingdom Total Value Add) requirements and support the objectives of Saudi Vision 2030.
- The total investment into the JVC is expected to be up to USD 18 Million.
- The joint venture is a strategic expansion of Unimech’s Energy vertical and does not result in any change in management or control of the Company.