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Al Yamamah Steel Industries Co. Announces Increase of the annual production capacity of Al Yamamah Pipes and Tubes Factories in Jeddah and Dammam

Element ListExplanation
Introduction The Board of Directors has approved the increase of the annual production capacity of Al Yamamah Pipes and Tubes Factories in Jeddah and Dammam from 276,000 Ton to 360,000 Ton
Date of Board Resolution in Regard to the Project 2021-02-08 Corresponding to 1442-06-26
Project Start Date 2021-3-1
Project Cost About SAR 33 Million
Financing method for the project Self-financing through the cash collections from the customers of the company
Expected completion date of the project In the First Quarter of the Fiscal Year 2022
Expected Impact on the Company’s Financial Results Will increase the company’s revenues and net profits based on the increase in the annual production capacity
Expected Date on Which the Impact on the Financial Results of the Company will Start In the Second Quarter of the Fiscal Year 2022
Expected Date for the Pilot Production of the Project to Begin During the First Quarter of the Fiscal Year 2022
Duration of the pilot production of the project 3 Months
Expected date for the commercial production of the project During the Second Quarter of the Fiscal Year 2022
Executing Party/Counter Party in the Project/Contract Non
Related Parties Non
Additional Information The expansion in capacity will increase the market share of Al Yamamah Steel Industries Company and provide all the required sizes and the required steel pipes for the solar power projects

The Capital Market Authority and the Saudi Stock 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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