Riyadh – Mubasher: Nama Chemicals Company inked a joint deal with Hadaj Investment Company, a subsidiary of the Saudi Industrial Export Company (SADIRAT), and FAAD Capital Partners Company.
The parties agreed to extend the non-binding agreement, previously signed to establish an investment fund, for an additional three months under the same terms and conditions.
The joint venture (JV) will be developed to acquire a share of the capital of Jubail Chemical Industries Company (JANA), one of the subsidiaries of Nama Chemicals.
The previous contract was supposed to end on 3 January 2025, while the current deal is ending on 3 April 2025.
Nama Chemicals highlighted that the extension was required to complete the necessary procedures and studies related to the acquisition process, including financial, legal, commercial, and technical evaluations.
Last April, JANA secured a SAR 35 million loan from the Saudi Export-Import Bank (EXIM).
