| Element List | Explanation |
|---|---|
| Introduction | In an effort to implement the company’s strategy and expansion plans, the Saudi Ceramic Company’s board of directors approved by circulating a resolution on August 18-2021 the establishment of a new factory for the production of porcelain tiles using the latest international technologies with a production capacity of 8.25 million square meters annually. |
| Date of Board Resolution in Regard to the Project | 2021-08-18 Corresponding to 1443-01-10 |
| Project Start Date | Fourth quarter of 2021 |
| Project Cost | 249.3 million Saudi Riyals |
| Financing method for the project | Through borrowing and self-financing |
| Expected completion date of the project | The second quarter of 2023 |
| Expected Impact on the Company’s Financial Results | The project is expected to have a positive impact on the Company's revenues |
| Expected Date on Which the Impact on the Financial Results of the Company will Start | After the start of commercial operation in the second quarter of 2023 |
| Expected Date for the Pilot Production of the Project to Begin | End of the first quarter of 2023 |
| Duration of the pilot production of the project | A month before the start of commercial production |
| Expected date for the commercial production of the project | Commercial production will be in the second quarter of 2023. |
| Executing Party/Counter Party in the Project/Contract | A group of manufacturers and suppliers inside and outside the Kingdom |
| Related Parties | There are no related parties as of the date of the announcement. |
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