Al Sorayai Trading & Industrial Group has shelved plans to invest in Al Salam University project, the company said in a bourse statement.

 

The decision, which will have no impact upon the company’s earnings, comes as part of the company’s restructuring strategy which is aimed at focusing on core activities.

 

The company is a manufacturer and trader of rugs, carpets, fabrics, curtains and furniture.

 

Al Sorayai’s board of directors had in 2014 approved holding a 25 percent stake in Al Salam University for SAR 10 million, Argaam earlier reported. 

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