Al-Rashed Industrial Company announces the purchase of an existing factory site in the first industrial city in Qassim, including leases contracts for the Industrial Property Authority, buildings, machinery and equipment, subject to government approvals. With a value of SAR 9,200,000 (nine million two hundred thousand Saudi Riyals) inclusive of VAT.
| Element List | Explanation |
|---|---|
| Introduction | Al-Rashed Industrial Company announces the purchase of an existing factory site in the first industrial city in Qassim region. |
| Transaction Details | Purchase of an existing factory site in the First Industrial City in Qassim region, including leases for the Industrial Property Authority, Buildings, Machinery and Equipment conditional on government approvals of 9,200,000 (nine million two hundred thousand Saudi riyals) including VAT. |
| Transaction Amount | 9,200,000 (nine million two hundred thousand Saudi Riyals) inclusive of VAT. |
| Transaction Conditions | Approval of the relevant government agencies. |
| Parties of the Transaction | First Party: International Jewelry Boxes Factory Company.
The second party: Al-Rashed Company for Industry. |
| Transaction Financing Method | Self-financing. |
| Date of Entering Into The Transaction | 2024-06-06 Corresponding to 1445-11-29 |
| Description of Activity of The Asset Subject of The Transaction | Manufacture of plastic products. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | none |
| Transaction reasons | Increased production and expansions of the company. |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact is expected to be felt during 2025. |
| Related Parties | none |
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