Saudi Businessmen To Invest $169.9m in new plant

Saudi Businessmen To Invest $169.9m in new plant
Published: 08 March 2005

A group of Saudi businessmen will invest 637 mln Saudi riyals ($169.9m) in the construction of a cement plant near the capital Riyadh, it was reported on March 1, 2005.  The investors signed in February 2005 a contract with a Chinese company (Sinoma) to set up the plant, which will be operated by a closed shareholding company, to be established for the purpose. The company will later offer part of its shares to the public.  The plant will have an initial capacity of 5000tpd clinker.