Rawasi Albina signs MoU with Chinese firm to develop cabin manufacturing tech

Nomu-listed Rawasi Albina Investment Co. signed today, Dec. 21, a memorandum of understanding (MoU) with China-based Ningbo Spring System Integration Co. to strengthen cooperation in providing infrastructure business solutions across key sectors, including telecommunications, electricity, and water.

The MoU also aims to facilitate the transfer of cabin manufacturing technology across various applications, according to a Tadawul statement.

The company said the MoU includes plans to establish factories in Saudi Arabia to deliver solutions serving infrastructure sectors, with the aim of enhancing local content.

The company added that the initiative supports Saudi Vision 2030 by promoting local content, in line with the efforts led by the Local Content and Government Procurement Authority (LCGPA). The MoU is of an open-ended duration, Rawasi Albina noted, adding that no related parties were involved.