This initiative comes as part of its expansion plans to increase its production capacity and keep pace with the rapid growth in the sector
ASG Plastic Factory Co.’s board, in a meeting held today, Sept. 24, approved the commencement of a factory expansion project covering on an area of 100,959 sqm in Sudair Industrial and Business City, at an estimated value of nearly SAR 60 million, the company said in a statement to Tadawul. 
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The company also noted that this figure is an estimate and may vary depending on market conditions and the actual implementation costs throughout the various phases of the project. It indicated that the project will be self-financed, with the possibility of benefiting from financing programs and facilities offered by the Saudi Industrial Development Fund (SIDF) or other financing entities.
According to the company, the project is expected to be completed and pilot and commercial production set to start during the first quarter of 2027. The pilot production will run for one month.
The project’s financial impact is expected to begin impacting the company’s results in Q2 2027 and to reflect positively on its financial statements after the commencement of operations.
Discussions are currently underway with a number of suppliers and consultants to carry out the construction work for the project, the company stated.
ASG further said that this initiative comes as part of its expansion plans to increase its production capacity and keep pace with the rapid growth in the sector. It will announce any further material developments related to the project in due course.
This initiative comes as part of its expansion plans to increase its production capacity and keep pace with the rapid growth in the sector
ASG Plastic Factory Co.’s board, in a meeting held today, Sept. 24, approved the commencement of a factory expansion project covering on an area of 100,959 sqm in Sudair Industrial and Business City, at an estimated value of nearly SAR 60 million, the company said in a statement to Tadawul.
For more news on listed companies
The company also noted that this figure is an estimate and may vary depending on market conditions and the actual implementation costs throughout the various phases of the project. It indicated that the project will be self-financed, with the possibility of benefiting from financing programs and facilities offered by the Saudi Industrial Development Fund (SIDF) or other financing entities.
According to the company, the project is expected to be completed and pilot and commercial production set to start during the first quarter of 2027. The pilot production will run for one month.
The project’s financial impact is expected to begin impacting the company’s results in Q2 2027 and to reflect positively on its financial statements after the commencement of operations.
Discussions are currently underway with a number of suppliers and consultants to carry out the construction work for the project, the company stated.
ASG further said that this initiative comes as part of its expansion plans to increase its production capacity and keep pace with the rapid growth in the sector. It will announce any further material developments related to the project in due course.
