JAT Holdings forms joint venture with Saudi companies to cater to GCC

JAT Holdings PLC, a Sri Lanka-based paint company with operations in South Asia, has joined hands with entities based in the Kingdom of Saudi Arabia, to incorporate a joint venture company under the name of Volt Industrial Company.
JAT Holdings formed the joint venture with Safari Company, CJSC and Quality Sports Solutions Company Ltd in Saudi Arabia, to develop, manufacture, market, sell and service electric vehicle charges in the countries of the Gulf Cooperation Council (GCC).

The shareholding of Volt Industrial Company will be 51 percent by Safari Company, 40 percent by JAT Holdings and 9 percent by Quality Sports Solutions Company. In a filing to the Colombo Stock Exchange, JAT Holdings said Volt Industrial Company would commence its operation with an initial investment of approximately Rs.170 million from the company on September 25, 2023.