Alwasail purchases factory in Ras Al Khaimah for SAR 5m

Alwasail purchases factory in Ras Al Khaimah for SAR 5m

has purchased a factory in the Industrial Area of Ras Al Khaimah in the UAE in exchange for SAR 4.80 million. With a production capacity of 21 thousand tonnes annually, the plastic product factory was sold in a public auction through Emirates Auction, according to a bourse filing on Sunday. As part of Alwasail's objective to expand its operational sectors and develop its production processes, the factory will be used in manufacturing and producing the company's products. The transaction will enable the company to expand its manufacturing sector, raise production capacity, acquire a larger market share, and increase the operating sector's revenues and profits.