National Metal Manufacturing and Casting Co. Announces Establish a Valve Factory
| Element List | Explanation |
|---|---|
| Introduction | National Metal Manufacturing & Casting Co. announces that to establish a factory specialized in manufacturing valves used in Oil, Gas & Petrochemical. |
| Date of Board Resolution in Regard to the Project | 2021-10-03 Corresponding to 1443-02-26 |
| Project Start Date | 4th Quarter of 2021 |
| Project Cost | About SAR 71 Million |
| Financing method for the project | from the capital and banks |
| Expected completion date of the project | 1st Quarter of 2023 |
| Expected Impact on the Company’s Financial Results | A positive impact is expected will be announced later. |
| Expected Date on Which the Impact on the Financial Results of the Company will Start | 2nd Half of 2023 |
| Expected Date for the Pilot Production of the Project to Begin | 2nd Quarter of 2023 |
| Duration of the pilot production of the project | Three Months |
| Expected date for the commercial production of the project | 2nd Half of 2023 |
| Executing Party/Counter Party in the Project/Contract | Will be announced later |
| Related Parties | N/A |
| Additional Information | Maadaniyah would like to inform that this project is the same project which announced on 03/10/2021 for cancellation of MoU signed with Valco Group.
Thus, the project will be 100% owned by Maadaniyah. |
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