SVCP receives SAR 36M final payment in sale deal of 2nd Riyadh plant

SVCP has completed all procedures related to the sale deal, the financial impact of which is slated to appear in the Q3 2025 results

Saudi Vitrified Clay Pipe Co. (SVCP) received the second and final payment worth SAR 36 million (excluding any applicable taxes or fees) in the sale deal of its second plant in Riyadh’s Second Industrial City, Al-Mutahida Al-Namouthajiyah Industries Co.

In a statement to Tadawul, the company said this came after the land subject to the agreement has been handed over to the buyer, along with all other assets located therein.

Accordingly, SVCP has completed all procedures related to the sale deal. The relevant financial impact will appear in the financial results for Q3 2025.

According to data compiled by Argaam, SVCP recently signed an agreement with Al-Mutahida Al-Namouthajiyah to sell the assets of its second plant in Riyadh’s Second Industrial City, which manufactures vitrified clay pipes and accessories. The agreement also includes the transfer of the land lease for the plant site, at a total sale value of SAR 45 million, excluding any fees or taxes.

Earlier this month, the Saudi Authority for Industrial Cities and Technology Zones (MODON) approved the transfer of the lease contract for the company's second plant to Al-Mutahida Al-Namouthajiyah.