GAS, Italy's Bonomi sign JV to build Saudi valve plant
The new entity will be based in Saudi Arabia and initially capitalized at SAR 5 million. Bonomi will hold a 60% stake, while GAS will own the remaining 40%.
GAS said it will finance its SAR 2 million share of the investment from its own resources.
The company expects the JV to have a positive long-term financial impact. The establishment of the new entity remains subject to regulatory approvals and the fulfillment of conditions outlined in the partnership agreement.
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