“Chemical” signs an agreement to establish a project to localize the manufacture of ammonium nitrate and nitric acid

The Saudi Chemical Holding Company, through the explosives sector represented by the Saudi Chemical Company Limited, announced the signing of a non-binding memorandum of understanding with the Eureka Mining Services Company “Portugal” in Riyadh, for technical cooperation to establish a project to localize the ammonium nitrate and nitric acid industry.

The company said in a statement on “Saudi Arabia’s Tadawul”, today, Sunday, that the memorandum includes technical cooperation to establish a project to localize the ammonium nitrate and nitric acid industry, which is the first of its kind in the region, as well as providing modern technologies in the mining sector to develop safety and productivity principles and environmental and social standards. and governance.

It also aims to support industries related to mining and exploration, construction and infrastructure, and the cement industry in order to achieve the goals of the Kingdom’s Vision 2030, according to the statement.

She added that the period of the note is 6 months.

It indicated that the financial impact of this memorandum could not be determined at present.