Al Kathiri Holding Co. on Wednesday signed a memorandum of understanding (MoU) with Spain-based Constructora d’Aro for an exclusive franchisee to produce three-dimensional concrete structures, the company said in its bourse filing.

 

The MoU also includes the establishment of a factory in Saudi Arabia to produce these structures as well as cooperation in the fields of modern construction technology and joint work.

 

“The cooperation comes in the interest of Al Kathiri Holding to search for the best and most modern methods of construction, which provides more time and cost to build high-quality buildings,” the statement said.

 

The duration of the MoU is six months from the date of signing and the financial impact will be announced at a later date, it added.

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