Al-Naqool Pushes Ahead with Dammam Concrete Plant

01/07/2026 06:12 AST

Mohammed Hasan Al-Naqool Sons Company (ALNAQOOL, ticker 9514) has shared fresh updates on its ambitious project to establish a new concrete plant in the Third Industrial City, Dammam. Approved by the Board of Directors in May 2025, the facility is being built on land leased from the Saudi Authority for Industrial Cities and Technology Zones (MODON) for ten years, spanning 8,978.07 square meters.

The company reported that construction is now 55% complete, with several critical phases finalized. Work is progressing on the installation of equipment, machinery, and mechanical and electrical systems, all in line with the approved schedule. Trial and commercial operations are expected to begin in the fourth quarter of fiscal year 2026.

While the timeline has shifted, Al-Naqool explained that the adjustment was due to delays in securing regulatory approvals and the late arrival of key production line equipment. Regional shipping challenges also impacted logistics, requiring rescheduling of certain phases. Additional time was devoted to ensuring proper installation, testing, and commissioning of systems to guarantee full operational readiness and efficiency.

Despite these hurdles, the company emphasized its commitment to delivering the project as planned, assuring stakeholders that no increase in project costs has occurred. The new plant is expected to strengthen Al-Naqool's industrial footprint and enhance its capacity to meet growing demand in the construction sector.

This update was disclosed on the Saudi Exchange (Tadawul) in accordance with regulatory requirements.

Borsatalkhaleej