Logo ofAl Kathiri Holding Co.
Al Kathiri Holding Co.’s subsidiary, Alian Industries Co., signed a non-binding Memorandum of Understanding (MoU) with Rwanda Housing Authority on Sept. 17, to develop 10,000 affordable housing units. 
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In a statement to Tadawul, the company said the MoU is valid for five years from the signing date, renewable, amendable, or terminable by mutual written agreement between the parties.
Under the agreement, Alian shall prepare a comprehensive Project Implementation Proposal (technical, financial, and execution aspects) and submit it to the competent authorities in Rwanda for approval.
The financial impact cannot be determined at this stage and will be disclosed later upon completion of the studies, approval of the proposal by the competent authorities, and commencement of the actual implementation, the statement added.
The MoU also includes provisions for protecting Alian’s intellectual property rights and confidentiality obligations lasting five years.
Meanwhile, the statement indicated that this MoU comes within Al Kathiri Holding’s strategy to expand into international markets and transfer modern construction technologies (Emmedue – EPS) to global markets, in line with Saudi Vision 2030 objectives of supporting national exports.
No related parties are included, the company also said.
Logo ofAl Kathiri Holding Co.
Al Kathiri Holding Co.’s subsidiary, Alian Industries Co., signed a non-binding Memorandum of Understanding (MoU) with Rwanda Housing Authority on Sept. 17, to develop 10,000 affordable housing units.
For more news on listed companies
In a statement to Tadawul, the company said the MoU is valid for five years from the signing date, renewable, amendable, or terminable by mutual written agreement between the parties.
Under the agreement, Alian shall prepare a comprehensive Project Implementation Proposal (technical, financial, and execution aspects) and submit it to the competent authorities in Rwanda for approval.
The financial impact cannot be determined at this stage and will be disclosed later upon completion of the studies, approval of the proposal by the competent authorities, and commencement of the actual implementation, the statement added.
The MoU also includes provisions for protecting Alian’s intellectual property rights and confidentiality obligations lasting five years.
Meanwhile, the statement indicated that this MoU comes within Al Kathiri Holding’s strategy to expand into international markets and transfer modern construction technologies (Emmedue – EPS) to global markets, in line with Saudi Vision 2030 objectives of supporting national exports.
No related parties are included, the company also said.
