Unimech Aerospace Partners with YBA Kanoo for Saudi Arabia Expansion

Unimech Aerospace teams up with Yusuf Bin Ahmed Kanoo for a joint venture in Saudi Arabia. Named 'YBAK Unimech Advanced Manufacturing Solutions', the collaboration will focus on energy sector manufacturing. The venture, valued at $30 million, aims to earn $80 million in revenues over five years.

Bengaluru-based Unimech Aerospace and Manufacturing Ltd has formed a strategic joint venture with Gulf entity Yusuf Bin Ahmed Kanoo Company Ltd, announced on Tuesday.

The venture, titled 'YBAK Unimech Advanced Manufacturing Solutions', sees Unimech holding a 51% stake, while YBA Kanoo retains 49% ownership. This partnership marks Unimech's initiative to expand its precision engineering footprint into the Middle East energy sector.

The collaboration involves creating a $30 million advanced manufacturing facility in Dammam, Saudi Arabia. Focused on localization, it anticipates generating $80 million in revenue within five years, aligning with Saudi industrial development goals.

(With inputs from agencies.)