DALIPAL HLDG (01921): Dalipal International signed a cooperation memorandum with MCC Jingcheng.

DALIPAL HLDG (01921) announced that on November 16, 2024, its wholly-owned subsidiary, Dalipu International, signed a cooperation memorandum with MCC Jingcheng Engineering Technology Co., Ltd. (MCC Jingcheng). Dalipu International will entrust MCC Jingcheng to undertake the overall design, 3D design of production processes, engineering construction, and project management for the Research and Development Center, Intelligent Center, Manufacturing Center, and Energy Center that the company is planning to invest in and build in SPARK (King Salman Energy City) in Dammam, Saudi Arabia. According to the feasibility study and memorandum, the project will be developed in two phases with a total design production capacity of 1.1 million tons per year. The first phase will involve an investment of $600 million, starting construction in September 2025 and starting operations in March 2028. The designed production capacity will be 300,000 tons per year, with main products including various types of OCTG and hydrogen transport pipes, mainly sold to international markets in the Middle East and Africa. MCC Jingcheng is a national-level large enterprise in China and a leading international engineering technology company. MCC Jingcheng will design and develop the project in accordance with the highest international standards and quality requirements, focusing on smart manufacturing, digital management, green development, and ESG standards to build a world-class Research and Development Center, Intelligent Center, and Manufacturing Center.