The Nusaned Investment Company has signed a deal to build and operate a factory in Dammam to prepare radioactive materials used in mobile testing applications across various industries, SPA reported.
Nusaned chief executive Faisal Al-Behair said the agreement will help localize this industry and is in line with the Kingdom’s Vision 2030 goals.
The Saudi finance firm, founded in 2018, invests in small and medium-sized firms to “localize mature technologies and pioneer emerging technologies in the Kingdom”, according to company's website.
The plant, based in the capital of the nation’s Eastern Province, will test non-destructive radioactive applications.
