Saudi Paper gets regulatory approval on SAR 52 mln financial support

17/11/2019 Argaam

 

Saudi Paper Manufacturing Co. (SPM) has obtained the approval of the Saudi Ministry of Finance on a SAR 52 million financial support within the Kingdom’s National Companies Promotion Support (NCPP) and the Privatization Vision Realization Program in line with the Saudi Vision 2030, the company said in a bourse statement.

 

“The Ministry’s support will help purchase more raw materials, boost the company’s competitiveness among other international players, increase the plant production capacity to 100% and improve its profitability,” the company said.

 

The Privatization Vision Realization Program seeks to boost the market competitiveness, enhance the investment environment and enable strategy-oriented companies which will bolster the role of the private sector in the national economy.

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