The Saudi Paper Manufacturing Company announces the signing of a (non-binding) agreement of understanding to purchase the sixth production line with a production capacity of 60,000 tons of sanitary paper rolls with the Italian company TOSCOTEC.

The Saudi Paper Manufacturing Company announces the signing of a (non-binding) agreement of understanding to purchase the sixth production line with a production capacity of 60,000 tons of sanitary paper rolls with the Italian company TOSCOTEC.

Approximate value: The approximate value of purchasing the sixth production line and the equipment needed to operate it is 300,000,000 Saudi riyals. Financing method: The project to purchase the sixth production line will be financed through the company’s operating revenues, and through banks and financing parties. Reasons for signing the agreement: 1. Increase the company's production capacity of raw tissue paper rolls from 190,000 tons to 250,000 tons. 2. In line with the national strategy for industry in the Kingdom of Saudi Arabia. 3. Based on the company’s strategy for strategic expansion. 4. Meet the needs of local and global markets. Expected timetable: It is expected that the technical studies will be approved as soon as the installation, operation and receipt of the fifth production line is completed - God willing. About the Italian company Toscotec: A non-binding agreement of understanding was signed with the Italian company Toscotec, which provides the latest technologies and customized solutions to major paper producers around the world. Toscotec technology aims to achieve maximum production efficiency, reduce consumption and operational costs, and end