Sustained Infrastructure Holding Co. — Capital/Financing Update 2020

Apr 1, 2020

Saudi Industrial Services Company (SISCO) Announces the latest development for the signing of a contract for one of its subsidiaries with Saudi Ports Authority

2190 · 01/04/2020 13:42:06 · Announcement #58269 · View on Saudi Exchange

Saudi Industrial Services Company (SISCO) Announces the latest development for the signing of a contract for one of its subsidiaries with Saudi Ports Authority

Element List	Explanation
Introduction	Referring to the announcement of the Saudi Industrial Services Company (SISCO) on 26/04/1441H corresponding to 23/12/2019, for the signing of a new 30-year concession starting in 2020 between Red Sea Gateway Terminal Company (a subsidiary of SISCO in which it owns 60.6% of the share capital) and the Saudi Port Authority (Mawani) on a Build, Operate and Transfer (BOT) basis.

SISCO is pleased to announce that RSGT has officially commenced the takeover of operations of the adjacent North Container Terminal to become the largest container terminal in Saudi Arabia and on the Red Sea. RSGT has now commenced work to upgrade and consolidate the adjacent terminal with RSGT’s existing terminal to create an enlarged combined facility. The combined facility will have 11 berths and 24 STS cranes and a capacity of 5.2 million TUEs by 2023.

The first three-year phase, which is expected to be completed by 2023, will require total committed investment of SAR 1 billion. As previously announced, RSGT has secured new Ijara financing to finance the committed investment. Previous Announcement The Saudi Industrial Services Company (SISCO) announces the signing of a contract for one of its subsidiaries with Saudi Ports Authority Date of Previous Announcement on Tadawul's Website 2019-12-23 Corresponding to 1441-04-26 Progress Not Applicable Event's Expected Completion Date Not Applicable Expenses Related to the Event, Whether They Changed or Not and Justification Not Applicable

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