Azad Engineering inks deal for setting up manufacturing facility in Saudi Arabia

Azad Engineering has entered into a non-binding memorandum of understanding (MoU) with Baker Hughes Saudi Arabia (Baker Hughes) on 24 October 2024. The parties have entered into the MoU to enable discussions regarding the potential for an arrangement between the Company and Baker Hughes, KSA to, amongst other things, enable the Company to set up a facility to manufacture and supply of precision components, sub-assemblies, assemblies, to cater the requirements within the kingdom of Saudi Arabia.

Subject to mutual understanding between the parties, the terms of the arrangement will be detailed in the definitive agreement(s) which may be executed between the parties in this regard.

The MoU got exchanged between Azad Engineering and Baker Hughes in the presence of His Royal Highness Prince Abdulaziz bin SalmanAl Saud, Minister of Energy, and in the presence of distinguished officials and committee members of local content forum at Riyadh, Saudi Arabia.

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