On August 4, 2026, Naas Petrol Factory Co. announced the signing of an industrial land lease agreement (No. 126001148) with the Saudi Authority for Industrial Cities and Technology Zones (MODON), executed on August 3, 2026. The agreement covers a 25,799 square meter industrial land plot located in Al Kharj Industrial City, leased for a period of 20 years at an annual value of SAR 51,598.41, excluding VAT. The land will be used to establish the company's petrochemical manufacturing plant as part of its expansion strategy to produce new products and enhance competitiveness in the Saudi market. The financial impact is expected to commence upon completion of construction and the start of commercial operations, with the initiative also aligned with Saudi Vision 2030's objectives of developing the industrial sector and supporting the national economy.

Original announcement:

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