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Nama Chemicals’ JANA inks SAR 56.5m deal with consortium

Nama Chemicals’ JANA inks SAR 56.5m deal with consortium
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Riyadh – Mubasher: Jubail Chemicals Company (JANA), a subsidiary of Nama Chemicals Company, penned a SAR 56.53 million agreement with a consortium consisting of Green Dimension Company and Confident Engineering International Company.

The Saudi firms will team up to handle the engineering, procurements, and construction works of treatment units for the effluent wastewater from the calcium chloride plant and Epoxy Resin plant.

It is worth noting that the three parties inked the 18-month agreement on 15 December 2022, according to a bourse filing.

Nama Chemicals pointed out that the joint project will reduce operating costs by nearly SAR 27 million annually, starting from 1 October 2024.

In the first nine months (9M) of 2022, the Tadawul-listed firm logged net profits after Zakat and tax worth SAR 54.71 million, an annual hike of 124.20% from SAR 24.40 million.

Revenues went up by 9.40% to SAR 459.99 million in 9M-22 from SAR 420.46 million in 9M-21, whereas the earnings per share (EPS) increased to SAR 2.33 from SAR 1.04.