Yamama Cement Company has signed a non-binding memorandum of understanding (MoU) with Obeikan Investment Group and Sultan Holding Company to establish a holding company focused on investments in Saudi Arabia's metals industry.
The joint venture will concentrate on the production of key minerals, including lithium, graphite, and silica, according to a filing with the Saudi Stock Exchange (Tadawul).
Obeikan Investment Group is a prominent player in Saudi Arabia’s packaging, education, and healthcare sectors, while Sultan Holding, a Riyadh-based family office, is involved in real estate and hospitality projects across the Middle East.
Yamama Cement's board of directors recently approved the venture, paving the way for further development.
