Alwasail Industrial Co. Announces Contract Sign Off with SABIC Basic Industries Corporation

Alwasail Industrial Co. Announces Contract Sign Off with SABIC Basic Industries Corporation

|Element List||Explanation|

|Introduction||AlWasail Industrial Company announces the signing of a contract with SABIC for Basic Industries to finance raw materials equivalent to about 60000 metric tons for the activities of manufacturing and products of the company factories of polyethylene pipes and its derivatives with an estimated value of 300000000 million Saudi riyals|

|Date of Announcement of the Award||2023-01-31 Corresponding to 1444-07-09|

|Contract Subject Matter||Financing raw materials for the activities of manufacturing and products of the company's factories, including polyethylene pipes and its derivatives, which are included in more than 90% of the company's products.|

|Date of Signing the Contract||2023-01-31 Corresponding to 1444-07-09|

|Contract Value||300,000,000 million Saudi riyals|

|Contract Details||Financing raw materials for the activities of manufacturing and products of the company's factories, including polyethylene pipes and its derivatives, which are included in more than 90% of the company's products.|

|Contract Duration||A calendar year starting from 1-1-2031 AD and ending on 12-31-2023 AD|

|Financial Impact and the Relevant Period||The financial impact is reflected on the company's financial results by increasing production starting from the first quarter of 2023|

|Related Parties||none|