Zahrat Al Waha unveils capital expansion plan

The total value of this plan would be self-financed from the company’s cash

  
Image used for illustrative purpose. Asian Labourers work at the construction site of a building in Riyadh, Saudi Arabia August 4, 2016.

Image used for illustrative purpose. Asian Labourers work at the construction site of a building in Riyadh, Saudi Arabia August 4, 2016.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Zahrat Al Waha for Trading Company announced a capital expansion plan worth SAR 17.1 million that was implemented during the first half (H1) of 2021.

The total value of this plan would be self-financed from the company’s cash, according to a bourse filing on Wednesday.

The expansion plan was carried out by operating a new production line at a cost of SAR 7.09 million.

In addition, Zahrat Al Waha purchased a land plot at a value of SAR 4.13 million. The construction cost of the asset’s industrial activities is estimated at SAR 5.7 million, with expectations to operate during the first quarter (Q1) of 2022.

It is worth mentioning that the listed company achieved net profits after Zakat and tax worth SAR 36.6 million in the first half (H1) of 2021.

Source: Mubasher

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