FIPCO inks SAR 86.8M woven bags supply deal with SABIC for 3 years

04:52 PM (Mecca time) Argaam
Logo ofFiling and Packing Materials Manufacturing Co. (FIPCO)

Logo of Filing and Packing Materials Manufacturing Co. (FIPCO)

Filing and Packing Materials Manufacturing Co. (FIPCO) signed a framework agreement with Saudi Basic Industries Corp. (SABIC) to manufacture and supply large woven plastic bags for three years, with an option to extend for an additional two years. The agreement’s estimated value is SAR 86.75 million (excluding VAT).

 

In a statement to Tadawul, FIPCO said the contract value may fluctuate depending on raw material price changes. The supply period will run for 36 months, with a possible extension of up to 24 additional months.

 

The company expects the financial impact of the agreement to begin in Q1 2026.

 

FIPCO confirmed it signed the agreement on Feb. 12, while SABIC signed on Feb. 24. The fully executed copy was received via email on March 2.

 

There are no related parties to this agreement, the statement said.

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