SAUDI CERAMIC SIGNS EQUIPMENT CONTRACTS FOR NEW PLANT

15/08/2012 Tadawul

Further to Saudi Ceramic Company’s announcement on Tadawul on October 4, 2011, regarding its board’s approval of the establishment of a second sanitary-ware factory in Riyadh, the company signed equipment contracts with manufacturers and other contracts are in the pipeline.

The first phase will have an annual production capacity of 18,000 tonnes. Production is expected in Q1, 2014. The phase’s estimated cost of SAR 120 million will be financed by the company’s own cash flows, and loans from the Saudi Industrial Development Fund and commercial banks.

Annual sales expected are SAR 75 million on a full capacity basis.

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