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The National Shipping Company of Saudi Arabia (Bahri) announces the latest update about the agreement with the Saline Water Conversion Corporation (SWCC)
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by the National Shipping Company of Saudi Arabia (Bahri) on 13/08/1444H corresponding to 05/03/2023 regarding the agreement with the saline water conversion corporation (SWCC); The company announces that the barges are undergoing testing and commissioning. It is expected that the initial operation and the commercial operation will start during the second half of 2024. In addition, the environmental clearances for new infrastructure construction in Yanbu have taken longer than expected because of changes in government regulatory bodies. |
| Previous Announcement | The National Shipping Company of Saudi Arabia (Bahri) has announced the latest developments of its agreement with the saline water conversion corporation (SWCC). |
| Date of Previous Announcement on Tadawul's Website | 2023-03-05 Corresponding to 1444-08-13 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | The second half of 2024 |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no material financial impact, and further developments on the project will be announced in due course. |
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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