Saudi Chemical signs an agreement with a company from Bosnia to localize the production of ammunition fuses valued at 4 million euros.
Saudi Chemical Holding Company Signs Agreement with Bosnian TRB to Localize Production of Ammunition Fuses Worth 4 Million Euros
Saudi Chemical Holding Company, through its subsidiary Saudi Chemical Company Limited, has signed a binding agreement with the Bosnian company TRB to transfer knowledge and localize the production of mechanical fuses for 155mm and 105mm ammunition and mortars.
In a statement on Saudi Exchange (Tadawul) today, Tuesday, the company announced that the contract value is 4 million euros.
The signing ceremony took place at the World Defense Show, where Saudi Chemical Company Limited participated as a Gold Sponsor for this global event in the military industries sector.
Commenting on the agreement, Group CEO and Managing Director, Eng. Thamer Al-Muhaid, stated: "This agreement reaffirms our commitment to supporting the objectives of Saudi Vision 2030 and enhancing local content. We aim to localize military industries, which will contribute to strengthening our nation's defense capabilities and supporting efforts to achieve self-sufficiency in this vital sector."
The company added that the contract duration is one year, during which knowledge transfer, technology localization, and production line readiness will be completed.
The company expects an increase in total revenue of over 25 million SAR annually after the commencement of commercial marketing, anticipated to start in 2025.
