On July 29, Neway Co., Ltd. responded to investors’ questions via the interactive investor platform, stating that Neway Valve and its subsidiary Neway Petroleum Equipment are constructing manufacturing plants in Saudi Arabia to comply with the Kingdom’s localisation manufacturing policies.
Both projects are advancing in an orderly manner, with certain areas ready for equipment installation. Aligned with business development needs and market demand, the company actively coordinates resources, dynamically adjusts project construction schedules and optimises construction plans. It pushes forward the projects steadily while ensuring personnel safety.
The local factories are expected to be completed and put into operation next year. Once commissioned, these facilities will boost Neway Co., Ltd.’s local delivery capacity in Saudi Arabia and further consolidate the company’s competitive edge in the market for industrial valves and petroleum equipment.
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