United Mining Industries pens deal with RCJY to anchor expansion plans

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The Saudi company will allocate land in Yanbu Industrial City with an area of 35,920 square metres (m2) to boost its expansion plans

Staff Writer, Mubasher

December 23, 2024

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Riyadh – United Mining Industries Company inked a conditional investment agreement with the Royal Commission for Jubail and Yanbu (RCJY) on 18 December 2024.

The Saudi company will allocate land in Yanbu Industrial City with an area of 35,920 square metres (m2) to boost its expansion plans, according to a bourse disclosure.

Under the one-year deal, the company will submit engineering plans and specifications for exploiting the land according to the implementation plan.

After approving the final engineering plans, the RCJY authority will conclude the investment agreement to lease the land to United Mining Industries.

Meanwhile, the rental value of the space amounted to SAR 161.64 million.

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