Mining firm Saudi Lime aims to boost capacity by 40% following CMA nod to list on Tadawul 

Mining firm Saudi Lime aims to boost capacity by 40% following CMA nod to list on Tadawul 

RIYADH: Riyadh-based mining company Saudi Lime has announced plans to list its shares on the Saudi Stock Exchange just weeks after receiving the Capital Market Authority’s approval to list on the parallel market Nomu, the CEO revealed.

In an exclusive interview with Arab News on the sidelines of the Future Minerals Forum, Ahmed Elewa revealed that the mining firm will dedicate the coming two years to be part of the Kingdom’s main market.

“We are the first company in the mining sector related to limestone that went into an IPO and already got the CMA’s approval,” the CEO disclosed.

In addition to this, Saudi Lime aims to boost capacity by an estimated 40 percent in the coming two years, Elewa stressed.

“We have a very good plan to expand and increase our capacity right now from 1,500 tons per day to be 2000 or 2,200 tons per day,” he elaborated.

Talking about the company’s strategy for next five years, the CEO revealed that Saudi Lime will also be working on aggressive expansion plans as it is considering setting footprint in another country in the Middle East and North Africa region such as Oman or even the UAE.

Looking into the future, the executive warned that the