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Saudi Ceramics starts commercial operation at new plant

Saudi Ceramics starts commercial operation at new plant
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SAUDI CERAMICS
2040
-0.97% 30.58 -0.30

Riyadh-Mubasher: Saudi Ceramics Co. has commenced the commercial operation at its red brick plant on Sunday, after completing the trial period, the company said in a statement to the Saudi bourse.

The plant is expected to reach its maximum production capacity by the end of the second quarter of 2016.

The project's total cost stood at SAR 175 million, higher than the estimated cost of SAR 150 million due to a rise in production capacity to 330,000 tonnes per annum (tpa) from 264,000 tpa.

The company forecasts the first phase of the plant to deliver SAR 65 million in sales annually when operating at full capacity, stating that the financial impact will appear as of the second quarter of this year.