Tabuk Agriculture Development Company announced in its prospectus its plan to enter into four new projects within three years from now.
The projects will have a total cost of SAR 222.2m or 88% of the proceeds expected of its rights issue IPO of SAR 250m.
Tabuk’s crops productions project in Sudan will be the highest in cost at SAR 140m followed by the Potatoes Fingers Project at a total cost of SAR 38.6m.
|
“Tabuk Agriculture” anticipated projects |
|||
|
Start of production |
delivery of the project |
Expected cost (SAR million) |
Project |
|
Q1-2016 |
Q4-2015 |
140.2 |
Tabuk crops production in Sudan |
|
Q4-2017 |
Q3-2017 |
38.6 |
Potatoes finger plant |
|
Q3-2016 |
Q2-2016 |
16.7 |
Olive press |
|
Q4-2016 |
Q3-2016 |
26.7 |
Tabuk compound feed |
According to Argaam; the Capital Market Authority approved, in September, SAR 250m capital raise of Tabuk agriculture through a rights issue.
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