Riyadh – Mubasher: Almarai Company said it commenced partial and gradual commissioning and commercial operation of its new bakery plant in Hail.
The company's investments in the new facility amounted to SAR856 million and was funded through the operating cash flow that the company secured by obtaining a loan from the Saudi Industrial Development Fund (SIDF).
The new bakery plant includes four production lines that produce high quality bakery products such as; bread, cupcakes, pastry and cakes.
The new investment will be reflected in Almarai's Property, Plant and Equipment accounts as of the end of Q3 2016, and the factory out-put will be reported through the company's future income statements and cash flow statements going forward.
