Project is currently under tender stage.
Client announced the signing of a contract with China’s Sinoma Overseas Development Co. Ltd. to transfer production line No. 7 from the old factory to a new one at an estimated cost of SAR 830 million. The project will be self-financed from the cement producer’s resources, in addition to borrowing from commercial banks. The project will commence in the first quarter of 2023 and is expected to be completed in H2 2025. After the completion of the trial run, the date of which will be announced later, the move is set to have a positive imprint on Yamama Cement's financials.
Bids are currently under evaluation for the main contract on this scheme.
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