SVCP signs MoU with Qatar's Laffan Pipes to set up industrial JV

14/02/2024 Argaam
Logo ofSaudi Vitrified Clay Pipes Co. (SVCP)

Logo of Saudi Vitrified Clay Pipes Co. (SVCP)

Saudi Vitrified Clay Pipes Co. (SVCP) signed today, Feb. 14, a memorandum of understanding (MoU) with Qatar-based Laffan Pipes Factory Co. (LPF) to establish an industrial joint venture (JV), according to a filing on Tadawul.

 

The JV will be designated for the production and trade of high-density pipe products and plastic manholes.

 

SVCP will hold a 55% stake in the JV, while Laffan Pipes will own the remaining 45%.

 

The MoU term is 180 days, the company noted.

 

Laffan Pipes is involved in establishing and managing plastic pipe products factories, as well as the manufacturing of plastic manholes, rubber and plastic products, and various plastic products with topnotch technology.

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