Al-Wasail Industrial signs contract with SABIC to Financing raw materials at SR 300 mln

AlWasail Industrial Company announced on Wednesday the signing of a contract with SABIC for Basic Industries to finance raw materials equivalent to about 60000 metric tons for the activities of manufacturing and products of the company factories of polyethylene pipes and its derivatives with an estimated value of 300000000 million Saudi riyals, and the duration of Signing the Contract start from 1-1-2023 to 31-12-2023
The Company said today on Tadawul that the financial impact is reflected on the company’s financial results by increasing production starting from the first quarter of 2023