AlNaqool says first phase of block factories to start on Aug. 15

Logo of Mohammed Hassan AlNaqool Sons Co.

Mohammed Hasan AlNaqool Sons Co. announced that commercial operations of the first phase of the block factories, affiliated to Al Naqool Cement Industries Co., will begin on Sunday, Aug. 15.

The trial run was launched on June 15, 2021 for a period of 60 days, the company noted in a bourse statement.

The new plant is expected to realize operating profits starting from H2 2021, the statement added.

Mohamed Hassan Al Naqool Sons Co. previously established a wholly-owned subsidiary in Al Alamein Region in the North of Egypt in 2019.

Mohamed Hassan Al Naqool Sons Co. had previously established a wholly owned subsidiary in Al Alamein Region in the North of Egypt in 2019.

The subsidiary’s activity is concentrated in the manufacture of cement materials (block, concrete).

In June, Al Naqool announced completing the first phase of its SAR 20 million investment expansion project in Egypt, according to data compiled by Argaam.