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2019-01-30

Ajlan & Brothers concludes a billion-dollar agreement with Hanergy International

The Ajlan and Bros. Group signed an investment agreement in the amount of one billion dollars with the Hanergy International Company to establish a project to manufacture flexible solar panels and manufacture multi-use solar energy systems with a production capacity (1 gigawatt) in the Kingdom, during the inauguration of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince Al-Ahd, Deputy Prime Minister, Minister of Defense and Chairman of the Council for Economic and Development Affairs «National Industry Development and Logistics Program», which aims to transform the Kingdom into a leading industrial power and a global platform for logistics services. The agreement was signed by Vice President of Ajlan and Bros. Group Muhammad bin Abdulaziz Al Ajlan, and on the other side, Mr. Qiang Wei President of Hanergy Corporation.

Mohammed Al Ajlan expressed his great happiness at the signing of the agreement as it is an effective contribution to the advancement of the energy sector in the Kingdom and a tributary of this important vital sector, pointing out that the confidence of the wise leadership in the Saudi private sector is the catalyst and encouraging investment in these huge projects, which undoubtedly will have an impact. What is tangible in the development process in the Kingdom and pushing the economy forward.

Al Ajlan said: On this blessed day, we lived historical moments that culminated in the launch of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, the National Industry Development and Logistics Program, as it is a link in a series of successive achievements that His Highness established and dedicated to the future of the homeland and the citizen under wise guidance and direct supervision from Moulay Custodian of the Two Holy Mosques The two honorable King Salman bin Abdulaziz - may Allah preserve him - and as we participate in the signing of the agreement, our great ambitions and hopes are based on a great vision, which is the vision of the Kingdom 2030 and the strategic directions that it aims to diversify sources of income and not rely on oil as the only source, as we keep pace with its objectives and specific programs We rely on God first, relying on the energies of our ambitious and qualified Saudi youth, committed to efficient performance, and our expertise in Ajlan & Bros Group is a path to a promising tomorrow. I also cannot fail to thank His Excellency the Minister of Energy, Industry and Mineral Resources, Eng. Khalid Al-Falih, for his generous guidance and follow-up, and for his tireless efforts in serving the energy sector in the Kingdom, to be in the first ranks in the world. I also thank our partners in the global Hanergy company, and we hope to achieve the desired achievement with them so that the mutual benefit of our two countries will be common.

Solar energy is considered one of the most important areas that the Kingdom aims to benefit from, at a time when experts and specialists expect that the Kingdom will turn into one of the most important producers of clean solar energy in the world and that, in the coming years, it will be able to export it to the world, to become the largest producer of conventional energy and renewable energy. Worldwide at the same time.

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