Al-Ahsa Development says Indonesian party drafted business plan and contracts for operating textile factory

Al-Ahsa Development Company announces that the Indonesian company has completed the draft of Business Plan and Operating Contracts for our Textile factory at Al-Ahsa. Executive Management has recently received the initial draft of business plan and operating contract, which will be studied and presented to the Executive Committee and then to the Board of Directors.

It is worth mentioning that, the company has previously announced on 31/12/2011 on signing of Memorandum of Understanding (MOU) and extension of MOU singed on 16/09/2012, with a global leading Indonesian company, manufacturer of fabrics; to restart our Textile factory, MOU expires on 31/12/2012
The approval of final Business Plan and Operating Contracts by the Board of Directors will be announced at a later date, expected during first quarter of 2013.