AlNaqool to set up SAR 10M concrete plant in Dammam

Logo of Mohammed Hasan AlNaqool Sons Co.

Mohammed Hasan AlNaqool Sons Co. said its board of directors approved on May 20 the launch of a SAR 10 million project to establish a new concrete plant in Dammam, according to a statement on Tadawul.

The facility will be built on a 10-year leased plot from the Saudi Authority for Industrial Cities and Technology Zones (MODON), starting May 4. The land covers approximately 8,980 square meters and is located in Dammam’s 3rd Industrial City.

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The project will be financed through a combination of internal resources and external financing.

AlNaqool said that construction is scheduled to begin in Q2 2025, with full completion expected in H2 2026. Moreover, commercial production is expected to begin during H1 2026, and the trial production phase will last three months.

The executing party or contracting party will be determined at a later stage, it added, confirming that any updates related to the project will be announced in due course.

The project, which has no related parties, is projected to have a positive impact on the company’s financials once operations begin in H1 2026.

The project is aimed at boosting production capacity by approximately 50%, which will strengthen the company's market position and enable it to meet growing demand for its products.