News & insight

The National Shipping Company of Saudi Arabia (Bahri) announces the latest developments of the joint venture (National Grain Company)

30 DEC 2021

ELEMENT LIST EXPLANATION
Previous Announcement

 

The National Shipping       Company of Saudi Arabia     (Bahri) announces the joint    venture (National Grain       Company)

Date of Previous Announcement on Tadawul's Website

 

  2020-08-24 Corresponding     to 1442-01-05

Percentage of fulfilled achievement

 

Not applicable

Event's Expected Completion Date

 

   Second half of 2023

Reasons for Exceeding the Announced End Date

 

   Covid-19 constraints

The costs associated with the event, and if they have changed or not with indication of the reasons.

 

The previously announced total project cost remains unchanged (Nearly USD 110 million).

 

Impact of the Delay on the Company's Financial Results

 

 

No financial impact on the company

Additional Information - Execution party will be selected during the first half of 2022 and it will be announced later

 

- Project start date will be during the first half of 2022.

- 3-months pilot production to commence in second half of 2023.