News & Announcements

28 April, 2024 15:40

Almunajem Foods Co. Announces establishing a food factory in Jeddah

Element List	Explanation
Introduction	As part of the Company's endeavors to achieve its strategy and enhance local content, Almunajem Foods Co. announces the approval of its Board of Directors to establish a factory with a production capacity of 35 thousand tons annually, to produce some poultry, red meat, seafood, and dairy products. The factory will be built on a land with total area of 56 thousand sq.m in Jeddah’s 3rd industrial city.
Date of Board Resolution in Regard to the Project	2024-04-28 Corresponding to 1445-10-19
Project Start Date	Third Quarter 2024, after obtaining the necessary approvals.
Project Cost	SAR 157 Million approximately.
Financing method for the project	This project will be partly self-financed and partly from other external sources.
Expected completion date of the project	First Quarter 2026.
Expected Financial Impact of the Project on the Company’s Results	It is expected that the project will have a positive impact on the Company’s results after commencement of operations.
The Start of the Expected Impact of the Project on the Company’s Results	First Quarter 2026.
Expected Date for the Pilot Production of the Project to Begin	N/A
Duration of the pilot production of the project	N/A
Expected date for the commercial production of the project	First Quarter 2026.
Executing Party/Counter Party in the Project/Contract	N/A
Related Parties	N/A

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