UCIC approves Ras Al Khaimah plant expansion at SAR 75.6M

UCIC approved a SAR 75.6 million expansion of its Ras Al Khaimah plant, with commercial operations expected to begin in Q3 2027

United Carton Industries Co. (UCIC) said its board approved the expansion of the Ras Al Khaimah plant through its wholly owned subsidiary, RAK Packaging LLC, in the UAE, at an estimated cost of nearly AED 74 million (equivalent to SAR 75.6 million).

In a statement to Tadawul, UCIC said the project forms part of its strategic expansion plan to boost market share, production capacity and revenues. Funding will be through a mix of equity, debt and internal cash flows.

UCIC added it expects the project to start in Q2 2026, subject to obtaining the required approvals, and to be completed in Q3 2027.

Trial production is expected last about one month starting Q3 2027, followed by the start of commercial production in the same quarter, with the financial impact reflected in the company’s financial statements from Q3 2027.

The project will be implemented by RAK Packaging, with contracts awarded in due course in line with the company’s policies and procedures.

UCIC said there are no related-party transactions and that it will disclose any material developments in due course.