Alwasail’s board approves moving equipment, machinery from Ras Al Khaimah factory to Buraidah

Logo of Alwasail Industrial Co.

Alwasail Industrial Co.’s board of directors, in meeting on Sept. 6, approved the transfer of all machinery and equipment from UAE’s Ras Al Khaimah factory to Buraidah in Saudi Arabia, according to a bourse statement. 

Listed on the Nomu-Parallel Market, Alwasail said the decision includes installing the equipment and machinery at its factories headquarters in the First Industrial City.

In June, Alwasail bought in public auction, via Emirates Auction, a factory in Ras Al Khaimah’s Industrial Zone, UAE, for SAR 4.81 million, Argaam reported.