Sadr establishes logistics services complex in Riyadh at SAR 149 mln

Sadr Logistics Services Company announced on Thursday the approval of the company’s Board of Directors by passing to establish the Logistics Services Complex Project (Sadr Park).
The complex will be built on the purchased land in the Industrial Gate City in Riyadh under the supervision of the Saudi Authority for Industrial Cities and Technology Zones, where the company’s Board of Directors decided to approve the project budget and sign a contract. The main contractor for the project.
The Company explained Today on Tadawul that the purpose of the project is to create an integrated logistics services area to provide the best storage solutions to customers for refrigerated, frozen and dry storage with high storage capacity in accordance with the highest international quality specifications and standards and to serve operations, in accordance with the company’s strategy for expansion in the logistics services sector.
The Company added that the construction cost of the project is 149 million riyals, and the financing method is through borrowing and self-financing.
The company expects that the project will contribute to raising the company’s revenues and profits in the logistics services sector, adding that its expected impact on its results will appear during the second quarter of 2025, while the expected date of commercial production is in the same quarter.
The company confirmed that the duration of the trial production of the project is 3 months, and the expected date of commercial production is the third quarter of 2025, while the implementing party is a group of contractors and suppliers from inside and outside the Kingdom.