Almarai (2280.SE) announced the opening and start of operations of its new Central Production Plant (CPP3) in Al Kharj for a total investment cost of SAR1.2bn, in line with its previously announced plans. The new plant comprises seven dairy product lines for fresh dairy products (laban, milk and yoghurt) and will boost production capacity in an effort to meet domestic and regional demands. The plant was financed jointly through the company’s operational cash flows and a loan from the Saudi Industrial Development Fund.
Almarai: EGP52.41 as of 23 Nov. 2017, Rating: Neutral, TP: EGP52.00/share, MCap: USD13,976mn, ALMARAI AB/2280.SE
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