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RAPCO to invest in hotel sector

RAPCO to invest in hotel sector
(Photo Credit: Arabianeye-Reuters)
Dwajen RAK
14.69% 2.03 0.26

Abu Dhabi – Mubasher: Ras Al Khaimah Poultry and Feeding Co (RAPCO) announced during its ordinary general meeting (OGM) on Saturday that it intends to invest in the hotel sector in the Marjan Island resort in Ras Al Khaimah, according to Al Khaleej newspaper.

The company stressed that it will continue investing in the hotel sector and financial market, alongside its main activities, namely the production of eggs and poultry.

The company has an ambitious plan for expanding and increasing production and profits, the newspaper reported, citing the company’s chairman Yasser Ahmed Bin Humaid Al Qasimi.

RAPCO’s OGM announced on Saturday a cash dividend, representing 10% of the company’s capital for 2016, amounting to 10 fils per share at total value of AED 8.64 million.