Ajlan and Bros. expands solar energy and signs two agreements worth $ 1.4 billion
26 February 2019Coinciding with the visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic and Development Affairs to the People's Republic of China, the Ajlan and Bros. Group signed during the Saudi-Chinese Investment Forum a memorandum of understanding with "Hanergy" and "Endfco" Group under the umbrella of SABIC 's initiative for local content (we support) project to study solar panels flexible technology "CIGS", where the value of the project is about $ billion.
It also signed Ajlan Group and his brothers a memorandum of understanding with the CTIEC company to produce solar panels for energy technology CDTE where the value of the project is about $ 400 million.
The agreements were signed by the Ajlan group and his fellow Vice Chairman Mohammed bin Abdulaziz Al - Ajlan, who expressed deep thanks and great gratitude to the Custodian of the Two Holy Mosques and the Crown Prince -hfezhma Allah on non - support is limited, which receives the Saudi private sector by them, stressing that The visit of the Crown Prince to the Republic of China coincided with the holding of the Saudi-Chinese Investment Forum and the signing of the agreements, which is the biggest motivation for us as businessmen to compete in the global competition, which will positively affect the economy of our dear country and raise growth rates in light of the Kingdom's ambitious 2030 vision and its strategic goals.