Saudi Batteries Project Gets Underway
The joint venture project between the National Industrialization Company (NIC)of Saudi Arabia (70%) and Chloride of the UK (30%) to build in Riyadh a plantfor the production of 500,000 car batteries a year is progressing, and start upis expected in 1992. The project is capitalized at SR15mn ($4mn) and the totalinvestment cost of the plant is estimated at SR60mn ($16mn).
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