Ruwasi to acquire half of Iron Giant value

Ruwasi Construction Investment Company announced the signing of a non-binding Memorandum of Understanding with the owner of Al-Omaliq Al-Hadidiyah Trading Company, to purchase 50% of its economic value. The memorandum is valid for six months and includes completing evaluation procedures, legal and financial due diligence, with the possibility of extension. It also allows for the transformation of the entity into a joint venture if the deal is finalized. The goal of this step is to enhance integration between iron trading and contracting activities, improve execution efficiency, and expand the business base.

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