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East Pipes Integrated Company for Industry Announces Establish a new production line for Helical Submerged Arc Welded (HSAW) pipes in company’s factory in Dammam 2nd Industrial City.
| Element List | Explanation |
|---|---|
| Introduction | East Pipes Integrated Company for Industry announces the signing off contracts with different entities to establish a new production line for Helical Submerged Arc Welded (HSAW) pipes in company’s factory in Dammam 2nd Industrial City. |
| Project Start Date | February 2025 |
| Project Cost | The cost of the project is approximately 48 million riyals. |
| Financing method for the project | The project will be funded from the company's available cash, bank facilities, and other financing programs. |
| Expected completion date of the project | Fourth quarter of the fiscal year 2025 -2026. |
| Expected Financial Impact of the Project on the Company’s Results | The project is expected to impact the company's results in financial years 2025-2026 and 2026 - 2027. |
| The Start of the Expected Impact of the Project on the Company’s Results | First quarter of the fiscal year 2026 -2027 |
| Expected Date for the Pilot Production of the Project to Begin | Fourth quarter of the fiscal year 2025 -2026 |
| Duration of the pilot production of the project | One Month |
| Expected date for the commercial production of the project | First quarter of the fiscal year 2026 -2027 |
| Executing Party/Counter Party in the Project/Contract | Several entities and consultants to supply machinery and equipment's. |
| Related Parties | There are no related parties. |
| Additional Information | This project reflects company’s commitment to driving the Kingdom’s growth, aligned with its position as a leader in pipes manufacturing sector. The new line will add an approximate 100,000 Metric Tons to the existing nominal capacity 400,000 Metric Tons. The company will announce any other fundamental developments related to the project 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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