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Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces an amicable settlement with Saudi Aramco
| Element List | Explanation |
|---|---|
| Announcement Detail | The Company announces that it has reached an amicable settlement with Saudi Aramco in relation to the supply of heavy fuel oil to the Company’s facility in Yanbu 2, as mentioned in the prospectus, which entail the following: 1- Saudi Aramco will pay a financial amount of approximately 70 million Riyals. 2- Marafiq will be exempted from paying certain handling fees, as well as operation, maintenance, and rental fees for specific facilities over varying timeframes, with an amount not exceeding approximately 15 million Saudi Riyals annually until the year 2033. |
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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