Riyadh, February 10, 2024, During the World Defense Show (WDS) 2024 in Riyadh, Nadrah Trading Company, a subsidiary of Al Nasiriah Holding Group, sealed a significant deal with Munitions India Limited (MIL), an entity under the Indian Ministry of Defence, surpassing a value of 1 billion Saudi Riyals.
The agreement encompasses the establishment of a cutting-edge nanotechnology facility and the localization of ammunition production within the Kingdom. This collaborative endeavor aligns with the objectives outlined in Saudi Vision 2030, aiming to bolster investment volume and quality while fostering cooperation and knowledge exchange between the involved parties within Saudi Arabia.
The signing ceremony, graced by the presence of Ahmad Abdulaziz Al-Ohali, Governor of the General Authority for Military Industries (GAMI), and Ajay Bhatt, India’s Minister of State for Defence and Tourism, alongside Faisal bin Saad, CEO of Al Nasiriah Holding Group, highlighted the strategic significance of this partnership. Mohamed Abdul Kareem Hassan, CEO of Nadrah Company, and Ravi Kant, Chairman and Managing Director (CMD) of MIL, represented their respective entities during the signing, reaffirming their commitment to advancing mutual objectives.