The National Water Company (NWC) and the Spanish company Belgicast Internacional S.L. (Belgicast) signed a memorandum of understanding (MOU) on Monday, October 23, 2023, on the sidelines of the (Saudi-EU Investment Forum) at the Fairmont Hotel, Riyadh, with the aim of sharing investment opportunities related to future projects.
The MoU was signed by Mohammed bin Yahya Al-Suqour, NWC, Vice President for Shared Services, and Joan Galtés, Commercial General Manager of Belgicast Internacional S.L.
Mohammed Al-Suqour pointed out that the Memorandum of Understanding aims to facilitate communication with the concerned entities to explore the Saudi market, promote the growth and development of the local water valve manufacturing industry, increase the level of performance and prioritize the support of local content in this field in accordance with the company's standards and procedures.
Al-Soqour explained that these memoranda are in line with the national strategic guidelines for water, which prioritize national factories to provide the company's needs, its project components, and its supply chains, for the benefit of the national economy through local goods, assets, and technology.
Mr. Joan Galtés said "The Memorandum of Understanding will define the aspects of cooperation between the two companies in terms of localization of products and investment opportunities in the Kingdom of Saudi Arabia, in addition to supporting the efficiency of the quality of national manufacturing through a commitment to the development of local content by the manufacturer and the activation of the process of quality control of local products
