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National Industrialization Co. Announces receiving notification regarding the increase in feedstock prices

2060
TASNEE
0.00 %
1446/07/02     02/01/2025 08:09:24

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Announcement Detail National Industrialization Company TASNEE announces that it has received an official notice dated January 1, 2025, from Saudi Arabian Oil Company (Saudi Aramco) regarding price adjustment of certain feedstock and fuel. This adjustment is expected to result in an increase of 1.85% of the total cost of sales for the company's subsidiaries and joint ventures, based on the latest annual financial statements. This impact will be reflected starting from the first quarter of 2025.

The company will continue to work on enhancing the efficiency and sustainability of its operations in a responsible manner, while maximizing the advantage of the competitive infrastructure available in the Kingdom of Saudi Arabia to achieve its strategic objectives.

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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