Unimech Invests $3.9 Crore in Saudi Arabian Joint Venture

Unimech Aerospace and Manufacturing Limited has made a significant investment in its Saudi Arabian joint venture, Kanoo-Unimech Advanced Manufacturing Solutions. The company invested SAR 15.3 million, which is approximately INR 39.36 crore, in the first tranche of equity capital for the joint venture.

This investment is part of the planned SAR 60 million equity capital for the joint venture, with Unimech contributing SAR 30 million and Yusuf Bin Ahmed Kanoo Company Limited (YBAK) contributing the remaining SAR 14.7 million. Following this investment, Unimech will hold a 51% stake in the joint venture, while YBAK will hold 49%.

The joint venture is establishing a local manufacturing platform in Saudi Arabia to serve the Oil & Gas industry and other industrial customers. Commercial production at the facility is expected to begin by late March or early April 2027.