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Al-Jouf Agricultural Development Company Announces the Board of Directors’ Resolution Regarding the Project to Connect Electricity to the Company’s Facilities in Busaita Center, Al-Jouf Region, Under the Liquid Fuel Displacement Program
| Element List | Explanation |
|---|---|
| Introduction | Al‑Jouf Agricultural Development Company announces to its esteemed shareholders the following: The Board of Directors, on 09-08-1447 H corresponding to 28-01-2026 G, approved proceeding with the project to connect electricity to the company’s facilities in Busaita Center, Al‑Jouf Region, as part of the Liquid Fuel Displacement Program, with an estimated budget of SAR 500,000,000. The project is expected to be completed within 18 months from the start of implementation, and any developments regarding the matter will be announced in due course. This decision aligns with the Kingdom of Saudi Arabia’s Vision 2030 toward transitioning to clean energy and supports the company’s objectives of reducing energy costs and enabling future business expansion by providing the required energy capacity. Details regarding the project implementation contract — including its value and funding mechanism — will be announced at a later stage. |
| Date of Board Resolution in Regard to the Project | 2026-01-28 Corresponding to 1447-08-09 |
| Project Start Date | To be determined later. Any developments will be disclosed once available. |
| Project Cost | 500,000,000 SAR |
| Financing method for the project | The company will study the available financing options, and any updates will be disclosed once available. |
| Expected completion date of the project | The project is expected to be completed within 18 months from the start of implementation, and any developments will be announced when available. |
| Expected Financial Impact of the Project on the Company’s Results | To be determined later. Any developments will be disclosed once available. |
| The Start of the Expected Impact of the Project on the Company’s Results | To be determined later. Any developments will be disclosed once available. |
| Expected Date for the Pilot Production of the Project to Begin | Not applicable |
| Duration of the pilot production of the project | Not applicable |
| Expected date for the commercial production of the project | Not applicable |
| Executing Party/Counter Party in the Project/Contract | To be determined later. Any developments will be disclosed once available. |
| Related Parties | None |
| Additional Information | All necessary approvals from the relevant authorities will be obtained, and implementation will follow the specifications approved by the competent regulatory agencies. The company will also comply with all directives and requirements set by supervisory authorities related to the project. |
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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