| Element List |
Explanation |
| Introduction |
On May 20, 2025, the Board of Directors of Mohammed Hassan Al-Naqool Sons Company approved the commencement of the project to construct a new concrete factory on land leased from the Saudi Authority for Industrial Cities and Technology Zones (MODON) for a period of ten years, starting from November 6, 1446 AH. The land area is 8,978.07 square meters in the Third Industrial City in Dammam. This project aims to increase production capacity by approximately 50%, strengthening the company's position in the market and enabling it to meet the growing demand for its products. |
| Date of Board Resolution in Regard to the Project |
2025-05-20 Corresponding to 1446-11-22 |
| Project Start Date |
Second quarter of 2025 |
| Project Cost |
The estimated cost is (10,000,000) ten million Saudi riyals. |
| Financing method for the project |
From the company's own resources in addition to funding from external parties. |
| Expected completion date of the project |
The entire project is expected to be completed in the second half of 2026. |
| Expected Financial Impact of the Project on the Company’s Results |
The financial impact of the project is expected to be positively reflected in the company's financial results after the actual start of the new factory's operation. |
| The Start of the Expected Impact of the Project on the Company’s Results |
The project is expected to have a positive impact on the company's financial results when it begins operating in the first half of 2026. |
| Expected Date for the Pilot Production of the Project to Begin |
During the first half of 2026 |
| Duration of the pilot production of the project |
Three months |
| Expected date for the commercial production of the project |
During the first half of the fiscal year ending 12/31/2026 |
| Executing Party/Counter Party in the Project/Contract |
To be determined later |
| Related Parties |
nothing |
| Additional Information |
Any developments related to the project will be announced in due course. |
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