Saudi-based National Water Company (NWC) has signed an agreement with Spanish industrial group Belgicast Internacional that will see the company develop the local water valve manufacturing industry and boost its production as per global standards.
The agreement was signed on the sidelines of the Saudi-EU Investment Forum being held at the Fairmont Hotel, Riyadh.
"These MoUs are in line with the national strategic guidelines for water, which prioritize national factories to provide the company's needs, its project components, and its supply chains for the benefit of the national economy through local goods, assets and technology," said NWC Vice President for Shared Services Mohammed bin Yahya Al Suqour after signing the deal with Belgicast Commercial General Manager Joan Galtés.
The forum will see both the kingdom and European Union share investment opportunities related to future projects, he stated.
Al Suqour pointed out that the MoU aims to facilitate communication with the concerned entities to explore the Saudi market, promote the growth and development of the local water valve manufacturing industry, increase the level of performance and prioritize the support of local content in this field in accordance with the company's standards and procedures," he added.
On the partnership, Galtés said the MoU will define the aspects of co-operation between the two companies in terms of localization of products and investment opportunities in the Kingdom of Saudi Arabia.
"This is in addition to supporting the efficiency of the quality of national manufacturing through a commitment to the development of local content by the manufacturer and the activation of the process of quality control of local products," he added.
