AnnouncementDetails

Actions

National Industrialization Co. Announces an update on The latest developments on the Titanium Sponge Project

Element ListExplanation
Introduction Delay on the startup of Titanium Sponge Project to be on the second half of 2019
Date of previous announcement 2018-12-27 Corresponding to 1440-04-20
Progress % 100%
Expected completion date of the event The startup will be on the second half of 2019
Reasons for exceeding the announced end date Delay from what we have planned and announced (first half of 2019) because of the delay on commercial operation of the raw material unit (Titanium Tetrachloride) which expect to be completed by the third quarter of 2019.
Expenses related to the event and whether it changed or not with the justification There is no impact on the final cost of the project from the previous announcement.
Impact of delay on the company’s financial results The financial impact of this Project cannot be determined at this stage.
Additional Information The initial Titanium Sponge Project capacity is (15,600) tons/year in Yanbu Industrial City. The Project and the Ilmenite Smelter are major downstream projects in Tasnee titanium value chain.

Please note that the Project owned by Advanced Metal Industries and Toho Titanium Company Limited which (65%) of its share interest is owned by Advanced Metal Industries Co., Ltd., and the later owned by Tasnee (50%) while Cristal owns the other half, and the remaining (35%) of its share interest owned by Toho Titanium, a Japanese company.

Further developments relating to the Project will be announced in due course.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
16.34 -0.06 (-0.37%)
Value Traded (SAR) Volume Traded
34,954,875.96 2,135,085

RelatedAnnouncementPortlet

Actions

Related Announcements

A 2060 TASNEE -0.06 (-0.37%)

1440/11/04   07/07/2019 08:27:39

No English translation, kindly refer to the Arabic version

A 2060 TASNEE -0.06 (-0.37%)

1440/08/23   28/04/2019 15:41:51

No English translation, kindly refer to the Arabic version

A 2060 TASNEE -0.06 (-0.37%)

1440/08/23   28/04/2019 08:14:22

No English translation, kindly refer to the Arabic version

View all announcements