Qassim Cement Co. — Capital/Financing Update 2021

Dec 29, 2021

Qassim Cement Company announces the appointment of a specialized consulting firm to define the scope of work and qualify the competitors for the Solar Energy Project.

3040 · 29/12/2021 15:37:28 · Announcement #66120 · View on Saudi Exchange

Qassim Cement Company announces the appointment of a specialized consulting firm to define the scope of work and qualify the competitors for the Solar Energy Project.

Element List

Explanation

Announcement Detail

Qassim Cement Company is pleased to announce the approval of the Board of Directors on 26/12/2021 to appoint a specialized consulting firm to define the scope of work and qualify the competitors for the Solar Energy Project of a capacity of more than 30 MW, this Project will be implemented at Buraydah City in Qassim Region, in line with Saudi Vision 2030. The Project will integrate the generated solar power with the Company current energy generation resources, Qassim Cement Company will not incur any capital or operational expenditure, as the payment will be based on actual consumption.

The company aims to reduce its energy consumption, which will lead to reduction in carbon emissions, the size and extent of the financial impact is difficult to be determined at this stage. However, any significant developments will be announced in due course.

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.