Jazadco to liquidate SAR 10 mln of stock portfolio to fund sugar refinery

25/05/2015 Argaam

Jazan Development Co. (Jazadco) said on Monday that it will liquidate SAR 10 million from SAR 20 million investments in its locally-listed stock portfolio at Aloula Geojit Capital to pay for a new SAR 1.2 billion refinery in Jizan.

 

The company plans to pay the first installment of its share of Al Reef Sugar, which is a joint venture with Germany’s BIA to build the kingdom’s largest sugar refinery.

 

Jazadco and Al-Abdullatif Industrial Investment Co. control stakes worth SAR 45 million (equal to 15 percent) of the new refinery.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
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.

Most Read