Germany’s Bosch to explore Saudi business potential

Bosch has presence in Pakistan, Qatar, Lebanon and United Arab Emirates. (File/Shutterstock)
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  • The company has an office in ¶¶Òõ¶ÌÊÓƵ and is also present across the Middle East region
  • ¶¶Òõ¶ÌÊÓƵ said 24 international companies have signed agreements to establish main regional offices in Riyadh

FRANKFURT: German auto supplier Robert Bosch has signed a memorandum of understanding to explore potential business in ¶¶Òõ¶ÌÊÓƵ, a company spokeswoman said on Tuesday.
Bosch was responding to a query from Reuters after news on Monday that ¶¶Òõ¶ÌÊÓƵ would cease signing contracts with companies and commercial institutions that do not have regional headquarters in the Kingdom.
The company has an office in ¶¶Òõ¶ÌÊÓƵ and is also present across the Middle East region, including Pakistan, Qatar, Lebanon and United Arab Emirates, the spokeswoman said.
¶¶Òõ¶ÌÊÓƵ's state news agency SPA this month reported that 24 international companies have signed agreements to establish main regional offices in Riyadh, the Saudi capital.
U.S. construction company Bechtel was named among the companies that signed the memorandum of understanding.
¶¶Òõ¶ÌÊÓƵ awarded the company a contract last year for executive project management work on the development of the primary base infrastructure for ¶¶Òõ¶ÌÊÓƵ's $500 billion NEOM business zone.