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Saudi-based Astra Mining is looking to invest 1.2 billion Saudi riyals ($319.51 million) in four new factories over the next five to seven years, CEO Ali Al-Jabrah told Arab News.
The company has a land bank of 92,000 square metres to house up to five factories, which will boost production and cost reduction, he added.
Astra Mining operates a factory in Al Kharj Industrial City, producing calcium oxide, calcium hydroxide, and dololime.
The report said that the current overall production stands at 280,000 metric tonnes per year.
(Writing by D Madhura; Editing by Anoop Menon)
