DALIPAL HLDG (01921) Wholly-Owned Subsidiary Secures Provisional Industrial License from MIMR

Stock News
01/02

DALIPAL HLDG (01921) announced that its wholly-owned subsidiary, Dalipal International Industrial Company, has recently been granted a "Provisional Industrial License" by Saudi Arabia's Ministry of Industry and Mineral Resources (MIMR), following a process of review and approval. According to relevant Saudi regulations, the Provisional Industrial License is a mandatory requirement for both foreign and local investors to establish manufacturing projects within the country, designed to ensure that such projects comply with national laws and align with the developmental objectives of the Vision 2030 initiative. The acquisition of this license for the company's Saudi energy equipment project signifies that it has obtained the necessary administrative approval to commence construction in Saudi Arabia; upon completion of the project, this license can be converted into a full "Industrial Production License." Under the provisions of the Provisional Industrial License, Saudi Arabia's Ministry of Energy (MoE) has also approved an electricity allocation of 60 megawatts for Dalipal International Industrial Company. Saudi regulations stipulate that any enterprise with an electricity demand exceeding 25 megawatts must obtain a power quota from the MoE. This mechanism allows the MoE to balance national energy consumption, prevent redundant construction, and ensure the rational utilization of energy resources. The company will now proceed with other preparatory work for the project's engineering and construction. The company will provide timely updates on the project's relevant progress and scheduling.

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