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