Maadaniyah to build SAR 30 mln PC strand plant in Bahrain

08/12/2022 Argaam
Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

National Metal Manufacturing & Casting Co.’s (Maadaniyah) board of directors approved today, Dec. 8, establishing a plant specialized in steel wire strand (PC strand) in Bahrain.

 

In a statement to Tadawul, Maadaniyah said the project is expected to cost nearly SAR 30 million.

 

The project will be financed by the company’s internal resources, in addition to commercial bank loans.

 

The construction and expected completion dates will be announced later.

 

The project is likely to have a positive impact on Maadaniyah. There are no related parties to the deal, the statement added.

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