Amiantit signs MoU with Syrian Ministry of Energy

Saudi Arabian Amiantit Co. announced the signing of a memorandum of understanding (MoU) with the Syrian Ministry of Energy – Water Resources aimed at supporting the Syrian government’s plans to develop water and wastewater infrastructure and update key facilities related to treatment, pumping, desalination, and transmission lines.

In a statement on Tadawul, the company said the MoU will be valid for one calendar year from the signing date.

It sets up a non-binding cooperation framework covering the design, construction, and rehabilitation of water treatment plants, as well as the execution of water network and transmission line projects, along with the manufacturing, supply, and installation of piping systems.

The agreement also covers preparing technical and economic studies, delivering turnkey solutions for remote areas, transferring knowledge and enhancing national workforce capabilities, and localizing pipe manufacturing within the Syrian Arab Republic.

The company noted that there is no current financial impact from signing the MoU and that any material financial effects will be disclosed if future agreements or contracts are concluded.