Saudi Ceramic Co. began commercial operations at its enamel coated water heaters plant in the first quarter of 2016, after expansion. The plant will be operating at full capacity by the second quarter of 2016, the company said in a statement to Tadawul.
The total cost of the project came in at SAR 70 million, below the budgeted cost of SAR 76 million. The plant is expected to produce 600,000 units of electrical water heaters per year.
The company expects to generate additional annual sales worth SAR 92 million when the project reaches full capacity. The relevant financial impact will start being booked from Q2 of 2016, it said.
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