Northern Cement cancels $44 million partnership agreement with Al Diyar Al Iraqiya

-1.61%

NORTHERN CEMENT

3004.SA

8.56

-1.61%

Riyadh - Mubasher: The Northern Region Cement Company announced the cancellation of signing a partnership agreement in the company’s investments in Iraq with “Al Diyar Al Iraqia Investments”, by agreement of both parties.

The company explained in a statement today, Thursday, on “Tadawul” that the reasons for the delay from the previously announced date are the failure to adhere to the terms and conditions of the agreement by Al Diyar Al Iraqiya Investment Company (Iraq).

The company said that this comes after the announcement of the Northern Region Cement Company on December 6, 2023, regarding the signing of a partnership agreement in the company’s investments in the Republic of Iraq, worth $43.953 million.

The company stated that the delay has no impact on the company's financial statements .

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