Saudi Arabia's supply of construction materials will increase with the signing of an agreement between the National Housing Company and a leading Chinese construction company.
The agreement with China's CITIC construction group seeks to establish an industrial city and logistics zones for construction materials, consisting of 12 factories, with the aim of providing a supply chain for NHC's housing projects.
Mohammad Albuti, the CEO of NHC, finalized this contract during the official visit of Majid Al-Hogul, Minister of Urban and Rural Affairs and Housing to China.
NHC said in a statement that the agreement with the Chinese construction group is part of its efforts to secure the supply chain for housing projects and ensure timely completion and high quality.
The Saudi company said that the contract calls for the construction of 12 factories specializing in building materials, the use of Chinese expertise, and the participation of local factories to improve business standards.
The company also added that the purpose of the deal is to attract high-level service providers in various divisions of the company, subsidiaries and other projects.
