Luberef extends land lease deal with RCJY for SAR 116.1M

08:45 AM (Mecca time) Argaam
Logo ofSaudi Aramco Base Oil Co. (Luberef)

Logo of Saudi Aramco Base Oil Co. (Luberef)

Saudi Aramco Base Oil Co. (Luberef) announced the extension of the land lease investment agreement for the Yanbu facility with the Royal Commission for Jubail & Yanbu (RCJY) for SAR 116.1 million for the entire agreement period.

 

In a statement to Tadawul, the company noted that the extension will be for 20 Hijri years, starting Rajab 1, 1446, or Jan. 1, 2025. The agreement may be renewed upon the company's request and RCJY's acceptance.

 

The deal was signed on Oct. 23, with the financial impact starting from the extension date, the statement added.

 

The extension aligns with Luberef’s long-term strategy to ensure the continuity of its operations, enhance operational efficiency, and support its expansion and sustainable growth plans.

 

There are no related parties in the deal, the company stated.

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.