IssuerAnnouncementDetailsV2Portlet
MARAFIQ COMPANY ANNOUNCES THE EXECUTION OF A CONTRACT FOR THE IMPLEMENTATION OF THE PROJECT TO CONVERT YANBU 2 STATION FROM THE USE OF LIQUID FUELS TO NATURAL GAS AS PART OF THE LIQUID FUEL DISPLACEMENT PROGRAM WITH COMPANY DOOSAN HEAVY INDUSTRIES & CONS CO. LTD and COMPANY BRANCH OF DOOSAN HEAVY INDUSTRY CONSTRUCTION COMPANY LTD.
Element List | Explanation |
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Introduction | Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces the execution of a contract for the implementation of the project to convert the Yanbu 2 plant of Marafiq Company from the use of liquid fuel to dry gas with Company Doosan heavy Industries & Cons CO. LTD and Company Branch of Doosan Heavy Industry Construction Company LTD., as part of the liquid fuel displacement program. This Project comes as an extension to the work of the energy system to achieve the objectives of the liquid fuel displacement program. The Project will contribute to reducing emissions resulting from electricity production within the Company's facilities and increasing the reliability of its operations without a material financial impact on the Company. |
Date of Announcement of the Award | 2024-11-27 Corresponding to 1446-05-25 |
Contract Subject Matter | Execution of a contract for the implementation of the project to convert the Yanbu 2 plant of Marafiq Company from the use of liquid fuel to dry gas with Company Doosan heavy Industries & Cons CO. LTD and Company Branch of Doosan Heavy Industry Construction Company LTD., as part of the liquid fuel displacement program. This Project comes as an extension to the work of the energy system to achieve the objectives of the liquid fuel displacement program. The Project will contribute to reducing emissions resulting from electricity production within the Company's facilities and increasing the reliability of its operations without a material financial impact on the Company. |
The Entity with Which the Contract was Signed | COMPANY DOOSAN HEAVY INDUSTRIES & CONS CO. LTD and COMPANY BRANCH OF DOOSAN HEAVY INDUSTRY CONSTRUCTION COMPANY LTD |
Date of Signing the Contract | 2025-01-01 Corresponding to 1446-07-01 |
Contract Value | 340,137,000 |
Contract Details | CONVERT YANBU 2 STATION FROM THE USE OF LIQUID FUELS TO NATURAL GAS AS PART OF THE LIQUID FUEL DISPLACEMENT PROGRAM |
Contract Duration | Three Years |
Financial Impact and the Relevant Period | No material financial impact on the Company |
Related Parties | Ministry of Energy - Liquid Fuel Displacement Program |
Additional Information | The Project will be financed according to the budget allocated by the Ministry of Energy within the liquid fuel displacement program. |
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.