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Arabian Pipes Co. Announces Establishment of Pipe Coupling Factory
| Element List | Explanation |
|---|---|
| Introduction | In line with the company's efforts to achieve its strategic goals, localize technology, and enhance local content, the Arabian Pipes Company announces the decision made by the Board of Directors during its meeting held on December 24, 2025, to establish a project for a drilling pipe coupling factory at the company's facility in the second industrial area in Riyadh, with a production capacity of up to 50,000 units annually. The factory represents an added value to the company for the following reasons: - Localizing the production technology for pipe coupling - Meeting the requirements of supply contracts for oil and gas casing pipes - Meet the local market's needs and exporting pipe coupling. |
| Date of Board Resolution in Regard to the Project | 2025-12-24 Corresponding to 1447-07-04 |
| Project Start Date | It is expected that the project will start in the first quarter of 2026, following the necessary regulatory approvals from the relevant authorities |
| Project Cost | The total estimated cost of the project is 30 million Saudi Riyals. |
| Financing method for the project | The project will be financed using the company's own resources and other funding sources |
| Expected completion date of the project | It is expected that the project will be completed in the first quarter of 2027 |
| Expected Financial Impact of the Project on the Company’s Results | It is expected that the financial impact of the project will positively reflect on the company's financial statements after start the commercial production |
| The Start of the Expected Impact of the Project on the Company’s Results | It is expected that the project's impact on the company's will begin in the second quarter of 2027. |
| Expected Date for the Pilot Production of the Project to Begin | First quarter of 2027 |
| Duration of the pilot production of the project | For approximately three months |
| Expected date for the commercial production of the project | Second quarter of 2027 |
| Executing Party/Counter Party in the Project/Contract | The execution of the project will be contracted to several specialized contractors and suppliers after obtaining the necessary regulatory approvals from the relevant authorities |
| Related Parties | Nothing |
| Additional Information | Any significant developments related to this project will be disclosed in a timely manner in accordance with the relevant regulations |
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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