Riyadh - Mubasher: Saudi International Trading Company (SITCO Pharma), a unit of Saudi Chemical Company, will invest SAR 75 million to establish a new warehouse in Jeddah.
It will be financed through Shariah-compliant loans from local banks, according to a bourse filing.
The warehouse will be positioned on 20,000 square meters (m²) of SITCO-owned land, featuring 14,000 m² of modern storage and 800 m² of office space.
Meanwhile, the facility will include automated systems, cold chain capabilities, and SFDA-compliant design, with room for future expansion.
The project is scheduled to commence in the fourth quarter (Q4) of 2025 and is expected to be completed by Q1-27.
Meanwhile, the pilot production is planned for Q4-26 over three months.
The investment will not significantly affect current financial results; however, it is expected to enhance the company’s strategic and operational capabilities once operations begin.
In the first half (H1) of 2025, Saudi Chemical registered an annual decline of 7.57% in net profits to SAR 151.74 million, versus SAR 164.17 million.
