ASG Plastic Factory Co. Announces Regarding the Board of Directors’ Approval to Construct a New Factory on an Area of One Hundred Thousand Nine Hundred and Fifty-Nine Square Meters (100,959 m²)
| Element List | Explanation |
|---|---|
| Introduction | ASG Plastic Factory Co. is pleased to announce to its valued shareholders that the Board of Directors, in its meeting held on 02-04-1447 AH corresponding to 24-09-2025 AD, has approved the commencement of a factory expansion project covering on an area of one hundred thousand nine hundred and fifty-nine square meters (100,959 m²) in Sudair industry and Business City. This initiative comes as part of the company’s expansion plans to increase its production capacity and keep pace with the rapid growth in the sector. |
| Date of Board Resolution in Regard to the Project | 2025-09-24 Corresponding to 1447-04-02 |
| Project Start Date | Construction of the project is expected to begin at the start of the fourth quarter of 2025. |
| Project Cost | The total estimated cost of the new project is approximately SAR (60) million. It is worth noting that this figure is an estimate and may vary depending on market conditions and the actual implementation costs throughout the various phases of the project. |
| Financing method for the project | The project will be self-financed by the company, with the possibility of benefiting from financing programs and facilities offered by the Saudi Industrial Development Fund (SIDF) or other financing entities. |
| Expected completion date of the project | The project is expected to be completed during the first quarter of 2027. |
| Expected Financial Impact of the Project on the Company’s Results | The project’s financial impact is expected to be reflected positively on the company’s financial statements after the commencement of operations. |
| The Start of the Expected Impact of the Project on the Company’s Results | The second quarter of 2027 |
| Expected Date for the Pilot Production of the Project to Begin | Trial production is expected to begin in the first quarter of 2027. |
| Duration of the pilot production of the project | The trial production phase will last for one month. |
| Expected date for the commercial production of the project | Commercial production for the project is expected to begin in the first quarter of 2027. |
| Executing Party/Counter Party in the Project/Contract | Discussions are currently underway with a number of suppliers and consultants to carry out the construction work for the project. |
| Related Parties | None |
| Additional Information | The launch of this project comes as part of the company’s plan to increase its production capacity and meet the growing market demand, in line with the Kingdom’s development and progress goals.
The company will announce any further material developments related to the project in due course. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Previous Announcements
ASG Plastic Factory Co. Announces the Reconstitution of the Audit Committee
1448/01/17 02/07/2026 09:54:34
ASG Plastic Factory Co. announces the Board of Directors’ decision to form the Nominations and Remunerations Committee
1448/01/17 02/07/2026 09:46:34
ASG Plastic Factory Co. Announces the publication of the Board of Directors’ annual report of 2025
1448/01/15 30/06/2026 15:51:41