Saudi Chemical Company Holding Announces the Board of Directors’ Approval to Establish a State-of-the-Art Warehouse Equipped with Advanced Technologies for Its Subsidiary, Saudi International Trading Company "SITCO Pharma"
| Element List | Explanation |
|---|---|
| Introduction | Saudi Chemical Company Holding announces that its subsidiary, Saudi International Trading Company (SITCO Pharma), will make a major strategic investment to establish a new state-of-the-art warehouse in Jeddah, reinforcing its leadership as one of the largest pharmaceutical distributers in the Kingdom of Saudi Arabia.
The new facility will be constructed on SITCO-owned land of 20,000 sqm, and will provide approximately 14,000 sqm of advanced warehouse space together with 800 sqm of premium office facilities. Equipped with advanced automation and cold chain capabilities, fully compliant SFDA regulations, and has been designed with scalability to meet future market growth. |
| Date of Board Resolution in Regard to the Project | 2025-09-25 Corresponding to 1447-04-03 |
| Project Start Date | Q4 2025 |
| Project Cost | SAR75million |
| Financing method for the project | The project will be financed through Shariah-compliant bank loans from local banks |
| Expected completion date of the project | Q1 2027 |
| Expected Financial Impact of the Project on the Company’s Results | This development does not have a significant material financial impact on current financial results, but is expected to have a positive impact on the strategic and operational term of the Company as the operation begins. |
| The Start of the Expected Impact of the Project on the Company’s Results | Q1 2027 |
| Expected Date for the Pilot Production of the Project to Begin | Q4 2026 |
| Duration of the pilot production of the project | 3 Months |
| Expected date for the commercial production of the project | Q1 2027 |
| Executing Party/Counter Party in the Project/Contract | To be announced at a later date |
| Related Parties | No related parties |
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