| Element List |
Explanation |
| Introduction |
With reference to the announcement made by SADR Logistics Company on the Tadawul platform dated 21-09-2023 regarding the Board of Directors’ approval to establish the Logistics Services Complex Project (SADR Park) in the Industrial Gate City in Riyadh, under the authority of the Saudi Authority for Industrial Cities and Technology Zones (MODON), the Company is pleased to announce the completion of the project and the commencement of the trial operation for the cooling systems, devices, and equipment within the project. |
| Previous Announcement |
Approval and starting of construction work for the SADR Park project. |
| Date of Previous Announcement on Saudi Exchange’s Website |
2023-09-21 Corresponding to 1445-03-06 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
The construction works have been completed, along with the delivery and installation of equipment and devices, as well as the setup of the cooling systems within the project. The trial operation has commenced, and commercial operations are expected to begin during the third quarter, as previously announced. |
| Reasons For The Delay on The Date of The Event Previously Announced |
The delay in completing the project by the previously announced date was due to the late arrival of some equipment through global imports. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
Construction costs remained within the previously approved budget, as authorized by the Company's Board of Directors. |
| Delay consequences on the Company’s financial results |
There is no impact on the Company's financial statements. |
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