Saudi Arabian Amiantit Co.headquarter
Saudi Arabian Amiantit Co. signed, on Jan. 4, a memorandum of understanding (MoU) with the Libyan Development Reconstruction Fund to cooperate in the field of water technology transfer, sewage treatment, rainwater and torrential drainage, and cooperation in the formation of factories specialized in water technologies and various pipes. 
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In a statement to Tadawul, the company said that the MoU is valid for one year and includes localizing specialized industries within Libya to raise efficiency, create job opportunities and train the Libyan workforce, which helps in the desired renaissance.
The agreement also covers the transfer of manufacturing techniques for the various products of Amiantit companies, for example: the manufacture of fiberglass pipes of various types such as (GRP and GRE), as well as the manufacture of polyethylene pipes (HDPE), valves and other products available at the Group.
Meanwhile, the two parties agreed to cooperate in establishing joint factories to meet the needs of national projects for the development of targeted projects in Libya, as well as construction, operation and maintenance of saline water purification plants, desalination plants and their technology, drinking water treatment, wastewater treatment and technology.
This is in addition to providing all the details and technical data of the raw materials necessary for the manufacture of pipes to study the possibility of providing them locally in Libya.
There is no financial impact on signing this memorandum, the statement added, noting that no related parties are included in the deal.
Amiantit further indicated that the Libyan Development Reconstruction Fund is a Libyan sovereign fund that strengthens the infrastructure in Libya to reach the targets of the latest international technologies in the fields of water, sanitation, rainwater and torrential drainage, and the establishment of integrated and modern networks in accordance with international specifications.
Saudi Arabian Amiantit Co.headquarter
Saudi Arabian Amiantit Co. signed, on Jan. 4, a memorandum of understanding (MoU) with the Libyan Development Reconstruction Fund to cooperate in the field of water technology transfer, sewage treatment, rainwater and torrential drainage, and cooperation in the formation of factories specialized in water technologies and various pipes.
For more news on listed companies
In a statement to Tadawul, the company said that the MoU is valid for one year and includes localizing specialized industries within Libya to raise efficiency, create job opportunities and train the Libyan workforce, which helps in the desired renaissance.
The agreement also covers the transfer of manufacturing techniques for the various products of Amiantit companies, for example: the manufacture of fiberglass pipes of various types such as (GRP and GRE), as well as the manufacture of polyethylene pipes (HDPE), valves and other products available at the Group.
Meanwhile, the two parties agreed to cooperate in establishing joint factories to meet the needs of national projects for the development of targeted projects in Libya, as well as construction, operation and maintenance of saline water purification plants, desalination plants and their technology, drinking water treatment, wastewater treatment and technology.
This is in addition to providing all the details and technical data of the raw materials necessary for the manufacture of pipes to study the possibility of providing them locally in Libya.
There is no financial impact on signing this memorandum, the statement added, noting that no related parties are included in the deal.
Amiantit further indicated that the Libyan Development Reconstruction Fund is a Libyan sovereign fund that strengthens the infrastructure in Libya to reach the targets of the latest international technologies in the fields of water, sanitation, rainwater and torrential drainage, and the establishment of integrated and modern networks in accordance with international specifications.
