Alwasail Industrial says works in Yarmouk project suspended

Logo of Alwasail Industrial Co.

Nomu-listed Alwasail Industrial Co. announced the suspension of work on the Yarmouk plan project No. Q/B/5390 by the municipality to amend the plan designs from (CAMBER) to V, according to a statement to Tadawul.

Accordingly, the suspension period, which will be determined later, is not calculated from the contract duration, it added.

The company also indicated that clearances were issued and the filling of roads within the scheme has been completed, which represents a completion rate of 40% of the project.

Alwasail expects the project plan to be completed by Dec. 10, 2023. It also noted that there are no related costs or financial impacts.

Last December, Alwasail Industrial signed a contract for the development of the Yarmouk project, spanning 112,18 square meters (sqm) in Burayadh, Qassim, according to Argaam's data.