Najran Cement expects transportation company setup to be complete by September-end

Najran Cement Company said that the setup of a limited liability specialized transportation company is 70% complete, according to a bourse filing.

The company expected the completion of the establishment’s procedures by September 30, 2020, attributing the delay to suspending employees’ attendance at government agencies due to coronavirus outbreak followed by the partial attendance of government employees.

It added that there is no impact of the delay on its financial results, nor any related cost.

In February 2016, Najran Cement’s board of directors approved the establishment of a limited liability specialized transportation company, with a capital of SAR 500,000 to be financed from internal resources, data compiled by Argaam showed.