JEDDAH, 27 June 2007 — Prince Saud ibn Faisal ibn Mossa’ad ibn A. Al-Saud on behalf of S&C International Group and Seoul-based Inzen Co. Ltd. signed a $5 million investment contract in Jeddah last week, a company statement said.
Both parties will work for common interest, pursue a long-term partnership in exclusive investments for mutual prosperity and work with utmost respect and trust in all conditions.
Both parties also agreed to put in their best efforts to promote the agreed business areas including implementation of security system projects across the Kingdom, Korean company’s investments, import of security system and its sub-items, and establish a joint venture company. A company specialized in IT security, Inzen offers various solutions in addition to service and consulting.
“This project will be a chance to upgrade IT security and environment including Internet service in the Kingdom,” said Mohammed Ali Bawazir, president of S&C International Group, Inzen’s business representative in the Kingdom.
