Al-Sorayai scraps plans to build aluminum plant to focus on core activities

23/02/2015 Argaam

 

Al Sorayai Trading and Industrial Group Company, one Saudi Arabia’s largest carpet manufacturers and retailers, canceled on Monday plans to build an aluminum extrusion factory in order to focus on its core activities and current projects, the company said in a statement.

 

The project and the decision had no financial impact on the company, it added.

 

In April, the company said it would own a 60 percent stake in a newly-formed SAR 5 million firm to build Al-Sorayai aluminum factory, according to data available on Argaam.

 

The project was later delayed in August due to “administrative” reasons.

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