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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