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Almarai Company announces investment plan to expand Fresh Bakery Capacity and to enter Frozen Bakery Segment in the Kingdom of Saudi Arabia and other Markets
| Element List | Explanation |
|---|---|
| Announcement Detail | In the Board of Directors meeting held on 2nd October 2023, the Board approved an investment plan of SAR 405M to further increase its fresh bakery capacity including new products and to enter the frozen bakery segment in the Kingdom of Saudi Arabia and other markets. This investment plan will enable Almarai to offer an expanded range of fresh and frozen bakery products to its consumers and expand the product range available for the Food Services channel. The increased capacity will further contribute to the Kingdom’s food security objectives for Saudi Vision 2030. The investment plan will be financed by Almarai internally generated cashflows. The expected time frame of completion of this investment is 2 years. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 51.5
Net Change 0.3 (+0.59%)
Value Traded (Sar) 26,521,464.9
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