| Work Detail |
The project will be built using proceeds from PIF investment, bank loans and government funding
Middle East Paper Company (MEPCO) will commence construction of the 345 million Saudi riyals ($91.94 million) tissue paper production line 6 in the fourth quarter of 2024, the firm said in a stock exchange statement.
The new line will increase production output in the Juthor plant in the King Abdullah Economic City (KAEC) by 60,000 to a total of 120,000 tonnes per annum. The production is expected to meet the growing demand of the local and international markets.
Trial production will commence in the third quarter of 2026 for a duration of one month. Commercial production is expected to start in the fourth quarter of 2026.
The project will be funded mainly by government financial institutions, bank loans, and the proceeds of the recent investments by the Public Investment Fund (PIF) into MEPCO.
The selection of the machine supplier is pending and will be announced upon signing the contract.
In January, PIF announced the acquisition of a 23.08 percent stake in MEPCO through capital increase and subscription to new shares. |
