ASG announces SAR 60M factory expansion in Sudair Industrial City

This initiative comes as part of its expansion plans to increase its production capacity and keep pace with the rapid growth in the sector

ASG Plastic Factory Co.’s board approved today, Sept. 24, the commencement of a factory expansion project spanning 100,959 square meters (sqm) in Sudair Industrial City, at an estimated value of nearly SAR 60 million, the company said in a statement to Tadawul.

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The company also noted that the project cost is indicative and could vary depending on market conditions and the actual implementation costs throughout the project’s phases.

ASG indicated that the project will be self-financed by the company, with the potential to take advantage of financing programs and facilities offered by the Saudi Industrial Development Fund (SIDF) or other financing entities.

The project is scheduled for completion with trial and commercial production starting in Q1 2027. The trial production phase will last for one month.

Following the project completion, it will reflect positively on the company's financials as of Q2 2027.

Discussions are currently underway with several suppliers and consultants to carry out the construction work, the company stated.

ASG further said that this initiative comes as part of its expansion plans to boost production capacity and keep pace with the rapid growth in the sector. It will announce any further material developments related to the project in due course.