Sadr Logistics Co. Announces an update on Purchasing a wooden pallet factory in the second industrial city in Riyadh
| Element List | Explanation |
|---|---|
| Introduction | Sadr Logistics Company announces the start of the commercial operation of the wooden storage plant in the second industrial zone in Riyadh of the Saudi Industrial Cities Authority, after completing all the necessary requirements and licenses to start operation, The company purchased the factory in October 2021, embarked on rehabilitating the factory and importing Required Equipment from the best international and European companies , and It is planned that the factory will operate in the first phase with a production capacity of up to 75 thousand wooden pallets per month by the end of 2023, and as a second phase with a production capacity of up to 150 thousand. Wooden platform monthly by the end of 2024.
The factory produces wooden pallets that are used for storage, shipping, and export purposes, and they are heat-treated and of the highest quality to comply with international and governmental. |
| Previous Announcement | Purchase factory in the value of 4.792 million Saudi riyals. |
| Date of Previous Announcement on Tadawul's Website | 2021-10-03 Corresponding to 1443-02-26 |
| Percentage of fulfilled achievement | 100% |
| Event's Expected Completion Date | 31-12-2024 |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The costs of rehabilitation and purchasing production lines amounted to 10 million Saudi riyals for the first phase, and the remaining costs for completing the second phase of production lines amount to 2.5 million Saudi riyals, which is expected to be completed at the end of 2024. |
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