Taqat discloses pricing terms for Alfanar scrap purchase agreement

Saudi Arabia's Taqat Mineral Trading Co. (TAQAT) has agreed a purchase price of SAR 1,716 (USD 458) per ton for heavy and light ferrous scrap and empty metal drums under its contract with Alfanar Co.

The company said the contract was signed on October 22, 2026, with no specified total value. The final contract value will be determined upon completion based on the actual quantities supplied.

TAQAT expects the contract to have a positive financial impact, with the effect to be reflected in its financial results in the fourth quarter of 2026 and early first quarter of 2027. The company also confirmed that there are no related parties to the agreement.

Alfanar is a Riyadh-based industrial company with operations spanning electrical manufacturing, power and grid infrastructure, and engineering and construction. The company also operates in renewable energy and other industrial sectors.

Established in 2017 and headquartered in Riyadh, Taqat Mineral Trading Co. is listed on the Saudi Exchange's Parallel Market (Nomu). The company operates in metal recycling and trading, including the collection and processing of ferrous and non-ferrous scrap.

1 USD / 3.75 SAR