| Element List |
Explanation |
| Introduction |
Saudi Aramco Base Oil Company – Luberef (the “Company”) is pleased to announce the extension of the Land Lease Investment Agreement (the “Agreement”) for the Yanbu Facility with the Royal Commission for Jubail & Yanbu (“RCJY”). This extension aligns with the Company’s long-term strategy to ensure the continuity of its operations, enhance operational efficiency, and support its future plans for expansion and sustainable growth. |
| Date of Announcement of the Award |
2025-10-23 Corresponding to 1447-05-01 |
| Contract Subject Matter |
Extension of the Agreement for Yanbu Facility for a period of 20 Hijri years, renewable. |
| The Entity with Which the Contract was Signed |
Royal Commission for Jubail & Yanbu (“RCJY”). |
| Date of Signing the Contract |
2025-10-23 Corresponding to 1447-05-01 |
| Contract Value |
SAR 116,121,248 for the entire Agreement period. |
| Contract Details |
Extension of the Agreement in the primary and secondary industrial zones in Yanbu Industrial City. |
| Contract Duration |
The term of the Agreement is twenty (20) Hijri years from 01/07/1446H (corresponding to 01/01/2025G), and it may be renewed upon the request of the Company and the acceptance of RCJY. |
| Financial Impact and the Relevant Period |
The financial impact begins at the start of the extension date. |
| Related Parties |
None |
| Additional Information |
The Agreement extends retrospectively from 01/07/1446H (corresponding to 01/01/2025G) and it was signed on 01/05/1447H (corresponding to 23/10/2025G). |
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