The Arabian Cement Company announces the latest developments for the construction of new cement mills at its Rabigh plant

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Arabian Cement 3010 -0.35% 42.85 -0.15

Clause clarifying the event that was previously announced The construction of new cement mills in its factory in Rabigh The date of the previous announcement on the Saudi Stock Exchange website (Tadawul) 08-04-1442 corresponding to 23-11-2020 Achievement rate 99.53% The expected completion date of the event due to the inability of the contractor to Coming to the Kingdom to resume work on the project until its date. Therefore, the expected completion date of the project, according to the contractor’s statement, China National Building Materials Company (CNBM), has an additional 150 days of resuming work on the project, after the restrictions on international travel are eased / lifted and all technical workers arrive at the work site. Therefore, the expected completion date for the project and commercial operation will be the fourth quarter of 2021. Reasons for the delay from the previously announced date, failure of the contractor to adhere to the schedule in addition to the current conditions and the suspension of travel and aviation due to the emerging Coronavirus (CoVid-19) pandemic, as the contractor was unable to complete the installations necessary for operation and testing of equipment by the manufacturers due to the absence of contractor workers at the project site at present. The costs associated with the event and whether or not they changed, along with the reasons. The costs associated with the event did not change. The impact of the delay on the financial results of the company There is no effect on the financial results of the company.







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