Logo ofEastern Province Cement Co.
Eastern Province Cement Co.’s board of directors approved today, Dec. 25, a capital increase for its subsidiary, Prainsa Saudi Arabia for Precast Concrete, from SAR 55 million to SAR 145 million, according to a statement to Tadawul. 
The increase will be funded by capitalizing a SAR 90 million loan from Eastern Cement, as reflected in Prainsa’s non-consolidated financial statements as of Dec. 31, 2023, the statement added.
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Eastern Cement explained that the move aims to enhance Prainsa’s financial position.
Prainsa, fully owned by Eastern Cement, was founded in 2007 and is a leading provider of precast concrete, contributing to various projects across Saudi Arabia.
Logo ofEastern Province Cement Co.
Eastern Province Cement Co.’s board of directors approved today, Dec. 25, a capital increase for its subsidiary, Prainsa Saudi Arabia for Precast Concrete, from SAR 55 million to SAR 145 million, according to a statement to Tadawul.
The increase will be funded by capitalizing a SAR 90 million loan from Eastern Cement, as reflected in Prainsa’s non-consolidated financial statements as of Dec. 31, 2023, the statement added.
For more news on listed companies
Eastern Cement explained that the move aims to enhance Prainsa’s financial position.
Prainsa, fully owned by Eastern Cement, was founded in 2007 and is a leading provider of precast concrete, contributing to various projects across Saudi Arabia.
