Unimech Aerospace and Manufacturing Ltd. has completed the first tranche of its investment in Kanoo Unimech Advanced Manufacturing Solutions, a joint venture with Yusuf Bin Ahmed Kanoo Company in Saudi Arabia. The company has invested SAR 15.3 million, equivalent to approximately Rs.39.35 crore.
Following the first investment, Unimech Aerospace holds a 51% stake in the joint venture. The venture is developing a greenfield advanced machining facility in Dammam, Saudi Arabia. A second capital contribution of SAR 30 million is planned later, with the partners contributing proportionately.
