| Previous Announcement |
Announces signing a Memorandum of Understanding with Laffan Pipe Factory Co. Qatar |
| Date of Previous Announcement on Saudi Exchange’s Website |
2024-02-14 Corresponding to 1445-08-04 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
The Saudi Vitrified Clay Pipe Co ("SVCP") announces the signing of a partnership agreement with Laffan Pipe Factory Co. in Qatar ("Laffan Qatar ") today, Monday 12-08-2024, under which Laffan Qatar a partner in Laffan Pipes Co. ("Laffan Co- Saudi") with a percentage of 45%, noting that Laffan Saudi Co. was established on June 3, 2024, in the KSA with full ownership of SVCP. Laffan Qatar will pay for its shares by transferring the production lines of its Doha plant to produce high-density plastic pipes and accessories to the ownership of Laffan Co. Saudi The ownership shares after the partnership will be 55% for the SVCP and 45% for the Laffan Co. Qatar |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
No change in event-related costs |
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