Sadr Logistics Co. — Capital/Financing Update 2023

Sep 21, 2023

Sadr Logistics Co. Announces the establishment of the Sadr Park project

1832 · 21/09/2023 09:49:33 · Announcement #75953 · View on Saudi Exchange

Sadr Logistics Co. Announces the establishment of the Sadr Park project

Element List

Explanation

Introduction

Sadr Logistics Services Company announces the approval of the company’s Board of Directors by passing to establish the Logistics Services Complex Project (Sadr Park), which will be built on the purchased land in the Industrial Gate City in Riyadh under the supervision of the Saudi Authority for Industrial Cities and Technology Zones, where the company’s Board of Directors decided to approve the project budget and sign a contract. The main contractor for the project.

The purpose of the project is to create an integrated logistics services area to provide the best storage solutions to customers for refrigerated, frozen and dry storage with high storage capacity in accordance with the highest international quality specifications and standards and to serve operations, in accordance with the company’s strategy for expansion in the logistics services sector. Date of Board Resolution in Regard to the Project 2023-09-20 Corresponding to 1445-03-05 Project Start Date 1-10-2023 Project Cost The construction cost of the project is 149 million riyals. Financing method for the project Through borrowing and self-financing. Expected completion date of the project 31-03-2025 Expected Impact on the Company’s Financial Results The project is expected to contribute to raising the company's revenues and profits in the logistics services sector. Expected Date on Which the Impact on the Financial Results of the Company will Start The second quarter of 2025. Expected Date for the Pilot Production of the Project to Begin The second quarter of 2025. Duration of the pilot production of the project Three months. Expected date for the commercial production of the project The third quarter of 2025. Executing Party/Counter Party in the Project/Contract A group of contractors and suppliers from inside and outside the Kingdom. Related Parties There are no related parties.

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