Almarai has started partial commissioning and commercial operations at its new bakery plant in Hail, the company said on Tuesday in a bourse statement.

 

The investment cost of the plant stood at SAR 856 million, and it was financed by the company’s operating cash flows and a loan from the Saudi Industrial Development Fund (SIDF), it added.

 

It includes four production lines for bread, cupcakes, pastry, and cakes. 

 

Almarai said it expects financial impact of the launch to reflect on its property, plant and equipment items in Q3, ahead of showing on its income and cash flows statements going forward.

 

The dairy and juice producer added that the new plant, which was reported in the board’s annual report for 2015, will provide new job opportunities for nationals, in line with the company’s Saudization program. 

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