Latest news with #NationalCo.forGlassIndustries
Argaam
22-04-2025
- Business
- Argaam
Zoujaj to rebuild, expand Furnace 01 for SAR 58.5M
The board of directors of National Co. for Glass Industries (Zoujaj) approved the expansion and reconstruction project of Furnace 01. The project will extend the furnace's length from 65.5 meters to 84.5 meters, increasing its production capacity from 210 tons per day to 280 tons per day, at an estimated cost of approximately SAR 58.5 million, Zoujaj said in a statement to Tadawul. In a statement to Tadawul, the company said the project will be carried out by Techglass (SORG), with construction set to begin in the fourth quarter of 2026 and completion anticipated in the first quarter of 2027. The company also noted that the method of financing will be disclosed at a later date. It expects the project to have a positive financial impact, with a projected 5% increase in sales beginning in the first quarter of 2027. Trial production is scheduled to start in Q1 2027 and will last for approximately 15 days, followed by the commencement of commercial production within the same quarter.
Arab News
20-03-2025
- Business
- Arab News
Tadawul approves Merrill Lynch Kingdom of Saudi Arabia as market maker for 20 listed securities
RIYADH: Saudi Exchange has approved Merrill Lynch Kingdom of Saudi Arabia to act as market maker for 20 listed securities across the main trading platform and the parallel index. This decision allows the company to enhance market liquidity and improve price efficiency in accordance with regulations and procedures. Among the securities listed on the main index, Merrill Lynch Kingdom of Saudi Arabia will act as a market maker for Naseej International Trading Co., ensuring a minimum presence of orders at 70 percent, maintaining a size of SR75,000 ($19,995), and adhering to a maximum spread of 0.75 percent, with a minimum value traded of 5 percent. Similarly, it will provide services for the National Co. for Glass Industries under the same trading obligations as Naseej International Trading Co. The National Co. for Learning and Education will have a minimum order presence of 70 percent, a minimum size of SR50,000, a maximum spread of 0.75 percent, and a minimum value traded of 5 percent. Meanwhile, Al Hassan Ghazi Ibrahim Shaker Co. will adhere to the same market-making requirements as Naseej International Trading Co. and the National Co. for Glass Industries. Sustained Infrastructure Holding Co. and Theeb Rent a Car Co. will also be covered under similar obligations, ensuring a minimum presence of orders at 70 percent, a minimum size of SR75,000, a maximum spread of 0.75 percent, and a minimum value traded of 5 percent. Saudia Dairy and Foodstuff Co. will have a minimum order presence of 80 percent, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a minimum value traded of 5 percent. Dallah Healthcare Co. will operate under the same market-making conditions as Naseej International Trading Co., while Gulf Insurance Group will have a minimum order presence of 60 percent, a minimum size of SR50,000, a maximum spread of 1 percent, and a minimum value traded of 5 percent. Aldawaa Medical Services Co. will be subject to a minimum order presence of 80 percent, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a minimum value traded of 5 percent. Meanwhile, Tourism Enterprise Co. will ensure a minimum order presence of 50 percent, a minimum size of SR250,000, and a maximum spread of 3 percent, with no specified minimum value traded. On Nomu, Merrill Lynch Kingdom of Saudi Arabia was approved as a market maker for Atlas Elevators General Trading and Contracting Co., Riyadh Steel Co., Sure Global Tech Co., and Ladun Investment Co. Additionally, the firm will provide market-making services for MOBI Industry Co., Molan Steel Co., and Fesh Fash Snack Food Production, as well as Yaqeen Capital Co. and Lana Medical Co. For each of these securities, the firm will ensure a minimum presence of orders at 50 percent, maintain a minimum size of SR50,000, and adhere to a maximum spread of 5 percent, with no minimum value traded requirement. Merrill Lynch Kingdom of Saudi Arabia's participation in market making is expected to contribute to greater liquidity and a more efficient trading environment, reinforcing the development of the country's capital market. This move aligns with the Kingdom's ongoing efforts to attract global financial institutions and strengthen its capital markets by promoting transparency, efficiency, and investor confidence.
