Samvardhana Motherson International Ltd and Saudi Arabia signed a memorandum of understanding (MoU) on 25 August to identify investment development opportunities for industrial and service activities in the kingdom.
Fahad Almaeem, the deputy minister of investment and development, Saudi Arabia, said, “This MoU aims to complement the efforts made in the development of the auto industry in the kingdom. We shall continue exploring collaboration opportunities with Motherson in different sectors.”
Samvardhana Motherson Group chairman Vivek Chaand Sehgal said: “We are looking forward to creating an industrial ecosystem for automotive and other industries in the kingdom.”
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