Sipchem unit launches new aviation firm in Saudi Arabia

24/12/2019 Argaam

 

Sahara International Petrochemical Company (Sipchem) subsidiary, Saudi Specialized Products Company (Wahaj), launched a new company, Portsmouth Arabia for Aviation, in partnership with Portsmouth Aviation Limited.

 

The company said in a tweet that the new firm is headquartered in Saudi Arabia, and will work on promoting local aviation and defense industries, as part of efforts to localize military industries in the Kingdom.

 

Wahaj is 75% owned by Sipchem, and 25% owned by Hanwha Chemical Corporation of South Korea.

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