SPM signs an MoU with an Italian company to develop 2 production lines

The Saudi paper manufacturing Company SPM announced today on tadawul signing a MoU with Italy-based Ricard company to develop its first and second production lines.

The project intends to raise the annual paper production capacity by 26% from 120,000 tons to 151,000 tons.

The first production line development work is scheduled to be finished by Q4 of 2014 and will raise its production capacity by 19,000 tons annually while the second line work is to be finished late 2015 with its production capacity raised by 12,000 tons annually.