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Logo of Nama Chemicals Co.
Nama Chemicals Co. announced delaying the implementation of wastewater treatment projects from the calcium chloride and epoxy resin plant to secure the necessary financing, according to a filing to Tadawul.
An amended contract was signed on Feb. 28 to provide capital financing for the treatment units over a period of five years, starting with commissioning through rent and ending with ownership.
The total cost of the project is SAR 71.24 million, the chemicals producer said.
The project implementation is expected to start on March 10, 2024, and will likely end on Aug. 10, 2025. Then, the trial production will run for two months.
The relevant financial impact includes a rise in the contract value by 26%, the company said, expecting the financial impact to be positive on the company’s financials starting from the fourth quarter of 2025. In December 2022, the company’s subsidiary, Jubail Chemicals Co. (JANA), signed contracts worth SAR 56.54 million with a consortium, comprising Green Dimension Co. and Confident Engineering International Co., for the wastewater treatment projects from the calcium chloride and epoxy resin plant, Argaam earlier reported.
Nama Chemicals said the project cost was estimated at SAR 63 million, including infrastructure and related civil works, indicating that it will be self-financed.
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