Kolon Global Signs Business Agreement on Water Treatment Technology and Artificial Turf with Saudi Company

Kolon Global announced on the 23rd that it has concretized the outline of the NEOM City project by simultaneously signing two memorandums of understanding (MOUs) with local companies in Saudi Arabia (hereinafter Saudi).

Kim Jeong-il (left), CEO of Kolon Global, and Abdullah Al-Swailim, Chairman of MASCO, signed a business agreement and took a commemorative photo at the Korea-Saudi Investment Forum held in Riyadh, Saudi Arabia on the 22nd.
[Photo by Kolon Global]

Participating in the Middle East economic delegation led by the Korea Economic Association, Kolon Global signed MOUs with two local companies in the fields of water treatment and living infrastructure at the 'Korea-Saudi Investment Forum' held yesterday in Riyadh, Saudi Arabia.

Led by CEO Jung-il Kim, Kolon Global, which participated in the Middle East economic delegation, signed an MOU for project cooperation with MASCO and the National Water Company (NWC) of Saudi Arabia. This agreement was made possible as MASCO extended a 'love call' to Kolon Global.

Kolon Global holds top-level achievements among domestic construction companies in water treatment sectors such as water supply and sewage facilities, sewage treatment, and wastewater treatment. It also has water treatment experience in various regions including Asia, the Middle East, and Africa. The company is expanding its water treatment business through Korea's first 'low-energy membrane water treatment technology' and is also advancing new technologies to produce hydrogen by processing organic waste such as food waste.

On the same day, Kolon Global also signed an MOU with FAIDH Co., a Saudi manufacturing and distribution company, for the establishment of an artificial turf production plant.

Under 'Saudi Vision 2030,' Saudi Arabia is developing various golf courses, soccer stadiums, and the world's largest 'King Salman Park (13.4㎢)' to build the sports industry and living infrastructure at the national level. However, due to the dry climate and desert conditions, the supply and maintenance of natural grass are difficult, leading to the import of 30,000 tons of artificial turf annually last year alone.

Kolon Global plans to expand its market share in artificial turf by utilizing the world's first 'recyclable eco-friendly artificial turf' production technology owned by the Kolon Group. It also expects to expand the artificial turf business to surrounding Middle Eastern regions using Saudi Arabia as a foothold.

A Kolon Global official said, "This MOU is meaningful in that it closely analyzed the climate and infrastructure of Saudi Arabia and specified local demand," adding, "We will concretize the outline of the NEOM City project based on close cooperation with local companies."

This content was produced with the assistance of AI translation services.