Abico agrees to buy Jeddah factory
Arab Plastic Industries "Abico" announced the signing of an agreement to purchase an existing factory in the Third Industrial City in Jeddah for 28 million riyals, aimed at increasing its production capacity and strengthening its industrial assets. The deal includes the purchase of buildings and facilities spanning an area of 44.64 thousand square meters and the termination of lease contracts with the Saudi Authority for Industrial Cities. The financing will be through the banking facilities previously secured by the company. The acquisition aims to expand the company's asset base in the plastics products sector, enhance its ability to meet market demand, and improve operational efficiency.
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