Saudi Top sees growth in manufacturing industries segment

Abdullah Al-Ajmi Chairman of Saudi Top for Trading Co

Abdullah Al-Ajmi, Chairman of Saudi Top for Trading Co., said that he expects improvement and expansion in the company’s manufacturing industries, the reason for which the company is focusing on this sector. He added that most of the company’s future investments will be directed toward manufacturing industries.

Speaking to Argaam on the sidelines of the Argaam Connect Initiative, Al-Ajmi revealed that Saudi Top signed a strategic contract valued at SAR 16 million over two years, averaging SAR 8 million annually.

He further noted that the company made significant expansions in manufacturing industries last year, including the launch of a plastic drum production line, aligning with the global shift from wooden to plastic drums.

Saudi Top also specializes in recycling and has promising projects, including a wax project, despite the global decline in demand for wax over the past two years.

He went on to say that Saudi Top is upbeat about market improvement this year, which will drive the company’s growth and expansion in manufacturing industries.

Regarding the factory project at the Rabigh Plus Tech Park, Al-Ajmi explained that it is part of Petro Rabigh’s initiative to back supporting and manufacturing industries within the region.

Saudi Top secured a 50,000-square-meter site, a deal that was officially announced on Tadawul. The company purchased the factory for SAR 6 million, and construction work has been fully completed.

The trial operation is expected to begin this quarter, with commercial operations commencing shortly after.

Al-Ajmi affirmed that Saudi Top continues to enhance its presence in the Western Region, with preparations progressing rapidly toward trial operations and full-scale commercial production.

He also highlighted the previously announced plastic factory project in Al-Khobar, which is set to commence operations soon after final preparations are completed. Saudi Top remains committed to executing its expansion strategy and is looking forward to further growth in the near future.

Commenting on Argaam Connect, Al-Ajmi praised the initiative for bridging the gap between listed companies on the Nomu-Parallel Market and interested investors. He noted that bringing companies and investors together in one platform facilitates communication, enhances investment opportunities, and fosters a more transparent and informed market environment.