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Al-Fakhariyah signs regional partner deal
The Saudi Company for Ceramic Pipe Manufacturing announced the completion of the procedures to convert Lafan Pipe Company in Qatar from an individual entity to a non-listed Saudi Joint Stock Company with a paid-up capital of 45.51 million Riyals, divided into ordinary shares valued at one Riyal each. The process resulted in the Saudi side retaining a 55% stake and the Qatari side holding 45%, aiming to strengthen technical and industrial cooperation between Saudi Arabia and Qatar in the pipe manufacturing sector. This step is part of a plan to expand operations and enhance governance frameworks, with a commitment that there will be no financial impact or additional costs resulting from the transformation. It is also considered part of the company's strategy to enhance its position in the infrastructure market and develop regional partnerships.
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