Riyadh-Amlak
The National Glass Industries Company “Glass” signed a contract for the supply and construction of the furnace for the expansion of the Riyadh factory for the production of glass containers with the Polish company “Tech Glass” for a total value of 55.5 million riyals.
She explained that the estimated cost of the expansion is estimated at about 274.5 million riyals, expecting the operation to start as of October 01, 2014.
On the other hand, the company announced the signing of an Islamic financing agreement for the Riyadh factory expansion project for a total amount of 230 million riyals, noting that the financing period is seven years and the loan guarantee is a bond for an amount of 230 million riyals.