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Saudi-listed Nama Chemicals Company said it is implementing a wastewater treatment project finalised in 2022 for treating wastewater fro9m its calcium chloride and epoxy resin plant.
The project was delayed due to difficulties in securing the necessary financing, the company said in a stock exchange statement.
In December 2022, Jubail Chemicals Company, a subsidiary of Nama Chemicals, awarded contracts worth 56.54 million Saudi riyals to a local consortium of Green Dimension Co. and Confident Engineering International Company for the project.
An amended contract, leading to a 26 percent rise in contract value to SAR 71.24 million ($19 million), has been signed to provide funding for the treatment units for over five years, the Nama Chemicals statement said.
Work on the project is expected to start on 10 March 2024, and end on 10 August 2025, the statement said, adding that trial production will run for two months.
The project will be implemented under a lease-to-own arrangement wherein project cost will be paid by Nama Chemicals as rental payments for five years, and at the end of that period, they will become the owners of the treatment units, according to the statement.
(Writing by D Madhura; Editing by Anoop Menon)
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