The Chemical Corporation signs a memorandum of understanding with the Russian Investment Fund to provide the Corona vaccine in Saudi Arabia

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The Saudi Chemical Holding Company signed a memorandum of understanding on 14-09-2020 with the Russian Direct Investment Fund RDIF, to work on providing the Coronavirus vaccine in Saudi Arabia.
The company said that it has signed, through its pharmaceutical sector, represented by the Aga Pharmaceutical Industries Ltd. (Aga Pharma) and the Saudi International Trade Company Limited (SITCO Pharma) with the Russian Direct Investment Fund RDIF, a non-binding memorandum of understanding for joint cooperation regarding the vaccine for the Coronavirus. The memorandum of understanding stipulated in its first phase the provision of vaccine distribution in Saudi Arabia, and then the transition to the second phase of transferring vaccine manufacturing techniques within the Kingdom, and the accompanying training and qualification of national competencies.
The memorandum included the representation of the Russian Direct Investment Fund by the Saudi Chemical Holding Group in front of the competent government agencies regarding registration and clinical studies. This memorandum is subject to obtaining the necessary approvals from the concerned authorities within the Kingdom of Saudi Arabia (the Food and Drug General Authority and the relevant authorities).





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