MEPCO buys land plot in King Abdullah Economic City for SAR 83.18 mln

31/03/2020 Argaam

 

Middle East Paper Manufacturing and Production Company (MEPCO) signed today, March 31, an agreement with the Emaar the Economic City (Emaar EC), to purchase a land plot in the Industrial Valley of King Abdullah Economic City (KAEC), at a value of SAR 83.18 million, excluding value-added tax.

 

The 132,028 square meter land plot will be used to develop the company's future projects, it said in a bourse filing.

 

MEPCO will pay 20% of the purchase value with the signing of the contract, while the remaining amount will be paid in 9 annual installments from March 2021.

 

The financial impact of deal will be reflected in the first quarter of 2020 earnings, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.