Saudi Trucking Deal: 50 New Rigs for SAR 14.9M

Mohammed Hassan Al Naqool Sons Co. said its wholly-owned subsidiary, Sadan Industrial Company, signed an agreement to buy 50 new trucks for SAR 14.9 million. The purchase covers heavy-haul and logistics vehicles, the company said in a filing to the Saudi stock exchange.

The deal is a fleet expansion for Sadan, which operates in the industrial transport and heavy equipment rental space. Al Naqool Sons Co. did not disclose the supplier or delivery timeline in the filing.

Sadan Industrial Company is a Saudi-based firm focused on heavy transport, crane rental, and logistics support for construction and industrial projects. The parent company, Mohammed Hassan Al Naqool Sons Co., trades on the Saudi Exchange under the ticker 9515.

The SAR 14.9 million purchase price works out to roughly SAR 298,000 per truck, a figure consistent with heavy-duty tractor-trailer units in the Gulf market. The order size suggests Sadan is adding capacity ahead of expected demand from infrastructure and mining projects in the Kingdom.

Al Naqool Sons Co. shares closed flat on the day of the announcement. The stock has traded in a narrow range this year, with the fleet expansion representing one of the larger discrete capital commitments from the company in recent quarters.