Basic Chemical Industries Co. Announces an update on Commencement of work for Jubail project as well as a change in project costs from 685million Saudi riyals to 750 million Saudi riyals
Basic Chemical Industries Company (BCI) announces the latest developments of the project to produce chlorine and its derivatives in Jubail Industrial City and also a change in project implementation costs from 685 million Saudi riyals to 750 million Saudi riyals
Commencement of work for Jubail project as well as a change in project costs from 520 million Saudi riyals to 685 million Saudi riyals
Date of Previous Announcement on Tadawul's Website
2020-08-23 Corresponding to 1442-01-04
Percentage of fulfilled achievement
Event's Expected Completion Date
End of November 2021
Reasons for Exceeding the Announced End Date
The technical and engineering details were delayed and the construction was significantly delayed due to the Corona Covid-19 pandemic
The costs associated with the event, and if they have changed or not with indication of the reasons.
A change in the project costs from 685 million Saudi riyals to 750 million Saudi riyals. The reasons for the increase in costs are due to the addition of some facilities necessary for the project and the high cost of construction for the project as a result of the high cost and the difference in some measurements and engineering details.
Impact of the Delay on the Company's Financial Results
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.