Zoujaj says maintenance, renovation of associate’s blast furnace to cost SAR 56.6M

Logo of The National Company for Glass Industries (Zoujaj)

The National Company for Glass Industries (Zoujaj) announced the commencement of a project for one of its associates, Ras Al Khaimah-based Guardian Zoujaj International Float Glass Co. LLC (Guardian RAK), to maintain and renovate the melting furnace at a cost of $15.1 million (SAR 56.6 million).

In a statement to Tadawul today, Jan. 5, the Saudi listed company added that the 15-day project will start next February and will be financed from internally generated cash.

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It expects the project to be completed and commercial production to start in early April.

According to Zoujaj, the related financial impact will be in suspending production, which will be compensated during the year based on the scheduled maintenance plan for 2025.

The executing party is LMS and CTE, it noted.