Zoujaj says new production line project costs over SAR 46.5m

Zoujaj says new production line project costs over SAR 46.5m

Riyadh – Mubasher: The National Company for Glass Industries (Zoujaj) unveiled that the cost of adding a sixth line to produce glass containers amounts to SAR 48.60 million.

The new project aims to have an annual production capacity of nearly 25,000 tonnes upon the approval of the board members on 9 November 2023, according to a bourse filing.

Zoujaj stated that the project is scheduled for completion in December 2024.

Meanwhile, the financial impact would commence in the first quarter (Q1) of 2025 as a SAR 10 million increase in net annual income.

In 2023, the net profits of Zoujaj decreased to SAR 47.90 million from SAR 104.30 million in 2022, while the revenues grew to SAR 153.90 million.

Zoujaj says new production line project costs over SAR 46.5m