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Almunajem Foods Co. Announces establishing a food factory in Jeddah
4162
ALMUNAJEM
-7.50
%
1445/10/19 28/04/2024 15:40:56
| Element List | Explanation |
|---|---|
| Introduction | As part of the Company's endeavors to achieve its strategy and enhance local content, Almunajem Foods Co. announces the approval of its Board of Directors to establish a factory with a production capacity of 35 thousand tons annually, to produce some poultry, red meat, seafood, and dairy products. The factory will be built on a land with total area of 56 thousand sq.m in Jeddah’s 3rd industrial city. |
| Date of Board Resolution in Regard to the Project | 2024-04-28 Corresponding to 1445-10-19 |
| Project Start Date | Third Quarter 2024, after obtaining the necessary approvals. |
| Project Cost | SAR 157 Million approximately. |
| Financing method for the project | This project will be partly self-financed and partly from other external sources. |
| Expected completion date of the project | First Quarter 2026. |
| Expected Financial Impact of the Project on the Company’s Results | It is expected that the project will have a positive impact on the Company’s results after commencement of operations. |
| The Start of the Expected Impact of the Project on the Company’s Results | First Quarter 2026. |
| Expected Date for the Pilot Production of the Project to Begin | N/A |
| Duration of the pilot production of the project | N/A |
| Expected date for the commercial production of the project | First Quarter 2026. |
| Executing Party/Counter Party in the Project/Contract | N/A |
| Related Parties | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 116.0
Net Change -9.4 (-7.5%)
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