The National Company for Building and Marketing announced that its wholly owned subsidiary, “Ajeej Steel Industry”, has begun the trial operation to expand the smelting plant with a production capacity of 100,000 tons per year.
The company explained in a statement to “Saudi Tadawul” today Monday that the importance of this event is to increase production capacity by 40%, which will positively affect the company’s sales and operating profits.
The company expects that the financial impact of this expansion on the company’s financial results will appear after the start of commercial production, scheduled for the first quarter of next year 2022.
The National Company for Building and Marketing had issued the license from the Ministry of Investments to set up a limited liability company operating in the field of various military industries, in collaboration with Yuzmash International Limited.
The company stated that it is in coordination with the rest of the relevant parties took place until the procedures for setting up the company were completed and the commercial registration was issued.
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