The National Company for Glass Industries (Zoujaj) said that the board of its affiliate, Saudi Guardian International Float Glass Company (Gulf Guard), has approved a study to set up a float and insulating glass factory at an estimated cost of 806.2 million Saudi riyals ($215 million).
The Gulf Guard 2 facility will be established in the Royal Jubail Industrial Commission and will have a production capacity of 750 tonnes per day, the company said in a statement published on the Saudi stock exchange on Sunday.
In April, the company announced adding a sixth line to produce glass containers at the cost of SAR 48.60 million. The line will have an annual production capacity of nearly 25,000 tonnes and is scheduled for completion in December 2024.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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