Halwani Bros. Co. — Capital/Financing Update 2011

Oct 16, 2011

HALWANI BROTHERS COMPANY SIGNING THE CONTRACT OF THE SECOND PHASE OF THE NEW INDUSTRIAL COMPLEX PROJECT

6001 · 16/10/2011 15:51:36 · Announcement #22881 · View on Saudi Exchange

HALWANI BROTHERS COMPANY SIGNING THE CONTRACT OF THE SECOND PHASE OF THE NEW INDUSTRIAL COMPLEX PROJECT

With reference to the company announcement in 16/8/2011 regarding the board approval to award the civil and steel structure work of the second phase of the new industrial complex project , HALAWANI announce that the contract was signed in 16/10/2011 With Allied Engineering Enterprises Saudi Arabia Ltd. with a total contract value of SR 70,4 M from the total investment of SR 110 M that was approved by the board. The remaining amount of 110 M is related to specific direct materials purchase by Halwani.

It is worth to mention that the second phase of the project covers Tahina, Halawa, Jam, Cheese, Dairy, Processed meat, Ice-cream, Juices and tins production lines. The projects expected execution period is 18 months starts from the date of signing the contract

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