“Modon” agrees to “Al-Fakhariya” to waive the lease contract for its second factory
Approved by the Saudi Authority for Industrial Cities and Technology Zones "Cities" to assign the lease contract for the second factory of the Saudi Company for the production of clay pipes in favor of the United Model Industries Company.
She said: "Pottery" In a statement on the website "Saudi Arabia trading"The agreement signed by the company to sell the assets of the second factory located in the second industrial city in Riyadh has become binding.
It added that the financial impact of the deal will appear in the financial results of the third quarter of 2025, which will be followed by handing over the land subject to the agreement to the buyer along with the assets based on it after receiving the second installment in the amount of 36 million riyals.
The company had signed a contract to sell the assets of the second factory located In the Second Industrial City in Riyadh, and waiving the lease contract for the land on which the factory is located, with a total sale value of 45,000,000 riyals, this comes within the company’s strategic plans to enhance the efficiency of exploiting assets and resources and support future growth.
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