Arabian Cement Co. — Capital/Financing Update 2021

Apr 21, 2021

Arabian Cement Company announces the latest update of the EPC project of new cement mills in Rabigh plant.

3010 · 21/04/2021 16:18:23 · Announcement #62933 · View on Saudi Exchange

Arabian Cement Company announces the latest update of the EPC project of new cement mills in Rabigh plant.

Element List	Explanation
Previous Announcement	EPC project of new cement mills in Rabigh plant
Date of Previous Announcement on Tadawul's Website	2020-11-23 Corresponding to 1442-04-08
Percentage of fulfilled achievement	99.53 %
Event's Expected Completion Date	Due to the fact that the contractor (CNBM) was unable to arrive to Saudi Arabia to resume project activities till date, therefore, the expected completion date of the project, according to the contractor's latest statement, China National Building Materials Corporation (CNBM), is an additional (150) days from resuming work on the project site, after easing / lifting restrictions on international travel and the arrival of all technical team to the work site. Hence, the expected completion date for the project and the commercial operation is expected to be the fourth quarter of 2021.
Reasons for Exceeding the Announced End Date	due to the contractor's failure to adhere to the schedule and the current conditions causing suspension of travel due to spread of Corona virus (CoVid-19), the contractor was unable to complete the installations and commissioning work necessary for operation and testing of equipment by the original equipment manufacturers (OEMs) due to the absence of the contractor's team at the site project at the moment.
The costs associated with the event, and if they have changed or not with indication of the reasons.	There is no financial impact due to the delay.
Impact of the Delay on the Company's Financial Results	There is no effect on the financial results of the company.

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