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Obeikan Glass, AGC ink JV deal

Saudi glass company, Obeikan Glass has signed a Letter of Intent to enter into a joint venture with European branch of AGC Glass, AGC Europe, Saudi Gazette has reported. The JV is to open a solar glass coating manufacturing plant by the start of 2016, to be built in Yanbu, Saudi Arabia. The coatings are used to block out excess heat from the sun to improve the energy efficiency of buildings. Obiekan Glass is owned by Obeikan Investment Group and Saudi Advanced Industries Co.