“Arabian Cement” files a complaint before the Commercial Court against “Emaar la Cité Economique”

The Arabian Cement Company has announced the filing of a lawsuit against Emaar the economic city in the Jeddah Commercial Court, to claim the remaining quantities of limestone ore in accordance with the agreement signed between the two parties on April 28. 2012.

Arabian Cement clarified in a statement on “Saudi Tadawul” today, Tuesday, that it announced on April 29, 2012, the final settlement with Emaar the economic city, regarding the overlap of land belonging to Emaar the economic city with concession lands granted. to the Arab Cement Company.

She added that during the period of the six-year deal, which ended on April 28, 2018, Emaar the Economic City supplied the Arab Cement Company with 44.7 million tonnes of crude, while the remaining 5.3 million tonnes were not received by Arab Cement. The period of the agreement, according to what was reported by them, despite repeated communications and meetings with the previous and current management of Emaar the economic city in this regard over a period of three years, which only gave No result.

And Arab Cement to continue: “As a result, the company decided to initiate legal proceedings to preserve its rights and demand the remaining quantities estimated at 5.3 million tonnes, or to return part of the land it had. previously sold to the Economic City of Emaar. Company in exchange for the supply of 50 million tons of good limestone ore for the manufacture of cement from the dredged product of the port of King Abdullah.

Arabian Cement said, according to the documents at its disposal, it had obtained legal advice against the company to demand the remainder of the quantity, in addition to notifying Emaar Economic City Company of its intention to take legal action according to the letter. addressed to the company in early September 2021, to which the company has not received a response to date, and the company does not expect to assume any liability as a result of filing a complaint.

She added that it is not possible at this stage to determine the financial impact of this case, and any development regarding this case will be announced at a later date.