ASG Plastic Factory Co. announces regarding the signing of an industrial land lease contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON), with an area of one hundred thousand three hundred and seventy-seven square meters (100,377 m²) in Sudair Industrial and Business City
| Element List | Explanation |
|---|---|
| Introduction | ASG Plastic Factory Co. announces the signing of a lease contract dated 07-01-1448 AH corresponding to 22-06-2026 AD, with the Saudi Authority for Industrial Cities and Technology Zones (MODON), for the leasing of an industrial land with a total area of one hundred thousand three hundred and seventy-seven square meters (100,377 m²) in Sudair Industrial and Business City, for a period of twenty (20) years, as part of the company’s expansion plans aimed at enhancing its production capacity and meeting the increasing demand for its products, this contract was approved by the Board of Directors in its meeting minutes dated 07-01-1448 AH corresponding to 22-06-2026 AD.
This step comes within the company’s strategy to expand and maximize its business, and to invest in promising opportunities in sectors with sustainable economic growth, contributing to meeting current and future market needs and enhancing economic returns for shareholders. |
| Date of Announcement of the Award | 2026-06-22 Corresponding to 1448-01-07 |
| Contract Subject Matter | ASG Plastic Factory Co. signed a lease contract dated 07-01-1448 AH corresponding to 22-06-2026 AD, with the Saudi Authority for Industrial Cities and Technology Zones (MODON), for the leasing of an industrial land with an area of one hundred thousand three hundred and seventy-seven square meters (100,377 m²) in Sudair Industrial and Business City, for a period of twenty (20) years, as part of the company’s expansion plans aimed at enhancing its production capacity and meeting the increasing demand for its products. |
| The Entity with Which the Contract was Signed | Saudi Authority for Industrial Cities and Technology Zones (MODON) |
| Date of Signing the Contract | 2026-06-22 Corresponding to 1448-01-07 |
| Contract Value | The annual rental value amounts to (200,754.89) Saudi Riyals, excluding Value Added Tax (VAT). |
| Contract Details | Industrial Land Lease Contract, Contract No. (26000915) dated 07-01-1448 AH corresponding to 22-06-2026 AD, with the Saudi Authority for Industrial Cities and Technology Zones (MODON), for the leasing of an industrial land with an area of one hundred thousand three hundred and seventy-seven square meters (100,377 m²) in Sudair Industrial and Business City, for a period of twenty (20) years, with an annual rental value of (200,754.89) Saudi Riyals, excluding Value Added Tax (VAT). |
| Contract Duration | Twenty (20) years. |
| Financial Impact and the Relevant Period | The financial impact of the project is expected to begin after the completion of construction works and the commencement of the factory’s operational activities. |
| Related Parties | None. |
| Additional Information | All details regarding the project and its developments will be announced later, God willing. |
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