Maadaniyah reports SAR 2.2M financial impact of Jubail plant fire

31/03/2024 Argaam
Logo ofNational Metal Manufacturing and Casting Co. (Maadaniyah)

Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

National Metal Manufacturing and Casting Co. (Maadaniyah) announced the latest developments related to a limited fire that broke out last January in the chemical pickling section of its wire drawing and related products factory in Jubail Industrial City. 

 

The pickling section is the first process for all factory products, and due to the fire, some of the machines in this zone were affected, Maadaniyah said in a statement to Tadawul.

 

The anticipated financial impact appeared in Q4 2023, at an estimated SAR 2.2 million to fix and repair the buildings as well as equipment, based on the bids from suppliers as well as contractors.

 

The company has already contacted the insurance company for compensation and the relative impact will be settled in three-four months.

 

Operations in the chemical pickling section are partially running with no halts in the other departments, which were not affected by fire. Any further developments will be duly revealed, the company added.

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