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Element List	Explanation
Introduction	The two parties — Rawasi Al-Benaa Investment Company from the Saudi side and Ningbo Spring System Integration Company from the Chinese side — agreed to develop the relationship between the two companies in the field of advanced telecommunications and electrical cabinets, and to work together on transferring technology in the field of cabinet manufacturing across various sectors, as well as working jointly to develop the cabinet industry.
Memorandum Signing Date	2025-12-21 Corresponding to 1447-07-01
Counterparty	Ningbo Spring System Integration company
Memorandum Subject	An agreement has been reached between Rawasi Al-Benaa Investment Company and Ningbo Spring System Integration Company to develop the relationship between the two companies in the field of business solutions for infrastructure across all vital sectors, including telecommunications, electricity, and water. The project aims to transfer knowledge and technology in the field of cabinet manufacturing across various sectors. The memorandum includes the establishment of factories in Saudi Arabia to provide solutions serving infrastructure sectors, with the goal of enhancing the percentage of local content. This initiative comes in support of Saudi Vision 2030 through the promotion of local content, led by the Local Content and Government Procurement Authority.
Memorandum Duration	Indefinite
Related Parties	None
Financial Impact	None
Additional Information	None

Rawasi Albina Investment Co. announces signing a Memorandum of Understanding with Ningbo Spring System Integration company