IssuerAnnouncementDetailsV2Portlet
Actions
Middle East Paper Co. Announces Fifth paper machine (PM5)
| Element List | Explanation |
|---|---|
| Introduction | Referring to the company's previous announcement on 20/10/2022 G on the Tadawul website regarding the start of the preparatory procedures phase for the new containerboard paper plant project. The Middle East Paper Company announces the start of the Fifth paper Line (PM5), with a production capacity of 450,000 tons, where the feasibility study for the project has been completed. The final budget for the project has been approved for a total amount of approximately 1.78 billion Saudi riyals, which includes the value of the project land, with an internal rate of return estimated at 14.5%, 42 Months for completion of the project. Also, establishing a new limited liability company to manage the project has been approved. |
| Date of Board Resolution in Regard to the Project | 2024-04-22 Corresponding to 1445-10-13 |
| Project Start Date | Q3, 2024 |
| Project Cost | 1.78 billion SAR |
| Financing method for the project | The Project will be funded by the Company’s internal resources, by long-term loans from local banks and use of funds resulting from the issuance of the shares to the Public Investment Fund. |
| Expected completion date of the project | Q4, 2027 |
| Expected Financial Impact of the Project on the Company’s Results | The financial impact will be reflected in the financial statements for the fourth quarter of 2027 |
| The Start of the Expected Impact of the Project on the Company’s Results | Starting from Q4 2027 |
| Expected Date for the Pilot Production of the Project to Begin | Q4, 2027 |
| Duration of the pilot production of the project | 1 Month |
| Expected date for the commercial production of the project | Q4, 2027 |
| Executing Party/Counter Party in the Project/Contract | J.M. Voith SE & Co. KG Company |
| Related Parties | No related parties |
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.
Share
Company Performance
Key Parameters
Last Price 42.35
Net Change -0.8 (-1.85%)
Value Traded (Sar) 11,451,829.65
Volume Traded 268,846
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions