Alsorayai says calcium carbonate plant 70% complete

17/01/2017 Argaam

Alsorayai Trading and Industrial Group Co. said its calcium carbonate plant is 70 percent complete, the company said in a statement to the Saudi bourse.

 

It also agreed with Al-Jazeera Paints Factory Co. to have Al-Sorayai Industrial Investment Group as a third partner in the calcium carbonate plant project.

 

Al-Sorayai Industrial Investment Group will hold a 27 percent stake in the plant, Alsorayai Trading and Industrial Group Co. (25 percent), and Al-Jazeera Paints Factory Co. (48 percent).

 

The project is expected to start production in July 2017, and relevant financial impact will reflect on Q4 earnings.

 

Last September, Alsorayai had signed a memorandum of understanding (MoU) with Al-Jazeera Paints Co. to set up a calcium carbonate factory.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.