Leen AlKhair signs nearly $78.53mln contract to build factory for Arsan

Leen AlKhair signs nearly $78.53mln contract to build factory for Arsan

Riyadh – Leen AlKhair Trading Company has penned a contract with Arsan First Contracting Company to establish and operate a factory.

The contract, valued at SAR 294.42 million, covers the construction, engineering, and operational work related to the factory, according to a bourse filing.

Meanwhile, the duration of the deal is 24 months starting from the signing date, 1 November 2023.

The listed firm added that constructing the factory will reflect positively on its results in 2025 after the factory becomes operational.

In October 2023, Leen AlKhair signed a loan agreement worth SAR 217.76 million with the Agricultural Development Fund to establish a factory.

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