Saudi Industrial Exports Co. (SIECO) inked on Sunday a memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company to invest in operating a silica mine in Tayma, northwestern Saudi Arabia, the company said in a bourse statement.

 

The MoU involves extracting the silica from the 15 square-kilometer mine, and looking into opportunities in the manufacturing industries.

 

The agreement will be valid for three months from the signing date, the company said, adding that no related parties are involved in the deal.

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