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Article: Almarai to launch two factories in 2010.
- Article from:
- ADP News Middle East & Africa
- Article date:
- July 20, 2009
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(ADPnews) - Jul 20, 2009 - Saudi Almarai (SAU:2280), the Gulf's largest diary company by market value, said it would launch production at a SAR 650 million (USD 173.3m/EUR 122.6m) infant formula plant and a SAR 200 million baked goods factory before the end of 2010, the company said in a statement to the Saudi bourse yesterday.
The infant formula factory, expected to bring revenues of between USD 50 million (EUR 35.3m) and USD 70 million, will start production in the last quarter of next year.
The baked goods factory will start operation in the first quarter of 2010. Most of the contracts for the civil and electrical operations, as well as the production ...