Innovation New Material invests $2.09m in Saudi aluminum project

Innovation New Material Technology Co., Ltd. will invest $2.09 million in Red Sea Aluminium Holdings Pte. Ltd. to acquire a 25.20% stake in RSA Holding, which will develop the "Saudi Red Sea Aluminum Industrial Chain Comprehensive Project."

The company has obtained key regulatory approvals including an Enterprise Overseas Investment Certificate from Shandong Provincial Department of Commerce and approval from the National Development and Reform Commission for the overseas investment project.