Unimech Invests SAR 15.3M in Saudi JV

Unimech Aerospace and Manufacturing Ltd has announced an investment of SAR 15.3 million (approximately INR 39.36 crore) as its contribution to the first tranche of equity capital for its Saudi Arabian joint venture, Kanoo-Unimech Advanced Manufacturing Solutions. The JV partners plan a total equity capital of SAR 60 million, to be contributed in two tranches. Unimech will hold a 51% stake, with Yusuf Bin Ahmed Kanoo Company Limited (YBAK) holding 49%. The JV facility is expected to commence commercial production by late March or early April 2027, establishing a local manufacturing platform for precision-engineered components to serve Saudi Arabia's growing industrial and energy sectors, particularly Oil & Gas.