Naas Petrol Factory Co. Announces Contract Sign Off with Saudi Authority for Industrial Cities and Technology Zones (MODON)

Element List	Explanation
Introduction	Petrol Nass Factory announces the signing of a lease agreement with the Saudi Authority for Industrial Cities and Technology Zones (MODON) to lease an industrial land plot with a total area of 25,799 square meters, located in Al Kharj Industrial City, for a period of 20 years, for the purpose of establishing the Company's petrochemical manufacturing plant. This agreement is part of the Company's expansion plans aimed at producing new products in accordance with high-quality standards, thereby enhancing the Company's competitiveness in the Saudi market while also opening new horizons for its business. This step represents a continuation of the Company's strategic plan, which is based on sustainable growth and contributes to achieving the Kingdom's objectives of improving production efficiency and supporting Saudi Vision 2030, which aims to develop the industrial sector, enhance its contribution to the national economy, and strengthen the economic returns targeted by the Company under its strategic plans.
Date of Announcement of the Award	2026-08-03 Corresponding to 1448-02-20
Contract Subject Matter	Leasing an industrial land plot from the Saudi Authority for Industrial Cities and Technology Zones (MODON) with a total area of 25,799 square meters, located in Al Kharj Industrial City, for a period of 20 years, for the purpose of establishing the Company's petrochemical manufacturing plant
The Entity with Which the Contract was Signed	Saudi Authority for Industrial Cities and Technology Zones (MODON)
Date of Signing the Contract	2026-08-03 Corresponding to 1448-02-20
Contract Value	The annual lease value amounts to SAR 51,598.41 (Fifty-One Thousand Five Hundred Ninety-Eight Saudi Riyals and Forty-One Halalas), excluding Value Added Tax (VAT).
Contract Details	Industrial Land Lease Agreement No. (126001148) dated August 3, 2026, with the Saudi Authority for Industrial Cities and Technology Zones (MODON), for the lease of an industrial land plot with a total area of 25,799 square meters, located in Al Kharj Industrial City, for a period of 20 years. The annual lease value amounts to SAR 51,598.41, excluding Value Added Tax (VAT).
Contract Duration	(20) Twenty Years
Financial Impact and the Relevant Period	The financial impact of this agreement is expected to commence upon the completion of the construction works and the commencement of the plant's commercial operations.
Related Parties	None.
Additional Information	The Company will announce any material developments related to the construction of the plant in due course.