05 June 2014
Further to Almarais announcement to the Saudi Stock Exchange (Tadawul) website dated Monday 07/06/1435H (corresponding to 07/04/2014G), about its strategic commitment to preserve the water reserves of the Kingdom by gradually increasing import of all its animal feed stock requirements from abroad, Almarai is pleased to announce to its shareholders that it has signed, on Thursday 07/08/1435H (corresponding to 05/06/2014G) with PDC, the developer and operator of the King Abdullah Port in Rabigh, two agreements that will form the basis for major investments in developing its own infrastructure to handle its imports of grains, essentially maize and soybean, as well as alfalfa.
The first agreement consists into a renewable long term bulk berth use agreement that will provide Almarai a right to use a designated berth, yet non-exclusive, according to its needs. Almarai will invest into the erection of a discharge equipment including crane and its related support equipments.
The second agreement consists into a renewable long term industrial land lease agreement, starting in November 2014, of a 35,000 square meters industrial plot located within the KAP Processing and Services Zone. Almarai will erect on this plot properly sized grain silos to store and transport bulk cargos of grains. Almarai will also invest into transportation and offloading systems to reach an efficient storage and logistics platform, starting with an elevated conveyor belt to move bulk cargos into the designated silos.
The signing of these agreements and these related investments into storage and integrated logistics infrastructure constitutes the backbone of a thorough supply chain and logistics capabilities for grain and fodder imports.
Regular updates on this project evolution will be provided in due time.
Further to Almarais announcement to the Saudi Stock Exchange (Tadawul) website dated Monday 07/06/1435H (corresponding to 07/04/2014G), about its strategic commitment to preserve the water reserves of the Kingdom by gradually increasing import of all its animal feed stock requirements from abroad, Almarai is pleased to announce to its shareholders that it has signed, on Thursday 07/08/1435H (corresponding to 05/06/2014G) with PDC, the developer and operator of the King Abdullah Port in Rabigh, two agreements that will form the basis for major investments in developing its own infrastructure to handle its imports of grains, essentially maize and soybean, as well as alfalfa.
The first agreement consists into a renewable long term bulk berth use agreement that will provide Almarai a right to use a designated berth, yet non-exclusive, according to its needs. Almarai will invest into the erection of a discharge equipment including crane and its related support equipments.
The second agreement consists into a renewable long term industrial land lease agreement, starting in November 2014, of a 35,000 square meters industrial plot located within the KAP Processing and Services Zone. Almarai will erect on this plot properly sized grain silos to store and transport bulk cargos of grains. Almarai will also invest into transportation and offloading systems to reach an efficient storage and logistics platform, starting with an elevated conveyor belt to move bulk cargos into the designated silos.
The signing of these agreements and these related investments into storage and integrated logistics infrastructure constitutes the backbone of a thorough supply chain and logistics capabilities for grain and fodder imports.
Regular updates on this project evolution will be provided in due time.
© Tadawul 2014
