Najran Cement’s board green-lit establishing transportation company

Najran Cement Company’s board of directors approved the establishment of a limited liability specialized transportation company.

Najran Cement expected the completion of the establishment’s procedures by June 30, 2020, attributing the delay in meeting the timeframe announced earlier to the market conditions, it said in a statement to Tadawul.

It added that there is no impact of the delay on its financial results, nor any related cost.

In February 2016, Najran Cement’s board of directors approved the establishment of a limited liability specialized transportation company, with a capital of SAR 500,000, but it decided to postpone it in May 2017 citing market conditions, data compiled by Argaam showed.