2024-01-06 19:20:09
Saturday 06 January 2024 09:20 pm
Thank you for reading the news: The Investment Fund owns 23% in the Middle East Paper Manufacturing and Production Company, and we assure you that we always strive to satisfy you, and now with the details.
Saudi Arabia – By Ayman Al-Washwash – The Public Investment Fund has completed its investment in the Middle East Paper Manufacturing and Production Company (MEPCO),
Specialized in the manufacture and recycling of paper products in the Middle East and North Africa, its ownership percentage reached 23.08%, through subscription to new shares issued by MEPCO to increase its capital.
Through its investment, the Fund aims to enable MEPCO to raise operational efficiency and productivity and support environmental sustainability, through recyclable products, including paper products, in line with the goals of the Kingdom and the Fund in the field of sustainability.
The Public Investment Fund’s investment also contributes to achieving MEPCO’s expansion strategy, especially in the areas of packaging and specialized building products industries – such as gypsum boards, which strengthens local supply chains for various current and future projects.
The fund has a diversified investment portfolio in real estate development, building and construction projects. With the aim of supporting sustainable economic development in the Kingdom, attracting local and international investors, and contributing to increasing operational capacity and adopting the most prominent technologies; The Public Investment Fund worked to empower 13 vital priority sectors in its investment strategy, in partnership with the private sector, in a way that contributes to achieving the goals of the Kingdom’s Vision 2030 by diversifying the economy, including the retail, construction, and real estate development sectors.
The Director of the Industries and Mining Sector in the Fund’s General Administration for Middle East and North Africa Investments, Muhammad Al-Daoud, explained that the Fund’s investment in MEPCO reflects the attractiveness of growth opportunities in promising sectors, such as recycling, retail, building materials, and others, and also enables the company to expand its sustainable production activities, with Focusing on high-value products and enhancing its export activities.
For his part, MEPCO CEO, Eng. Sami Al-Safran, said, “The fund’s investment will contribute to enabling MEPCO to implement its expansion strategy, benefit from the great growth potential in the local and regional markets, and provide more opportunities as MEPCO seeks to consolidate its leadership in the sector, while MEPCO works to For sustainable growth and a better future thanks to its strategy that achieves integration between the activities of paper production and waste management. The company also enhances its investment in the sector through ambitious projects that support the Kingdom’s goals of sustainability and the transition to a circular economy through recycling, reducing waste, and converting waste into energy sources to meet the needs of our activities.” .
The Saudi market provides promising opportunities for investment in paper products and their industries, such as tissue paper, thanks to its rapid growth and localization of production. The Fund’s investment in MEPCO is consistent with its strategic objectives in supporting the private sector in the Kingdom. To enhance local content, increase exportable products, and improve their quality and competitiveness.
These were the details of the news that the Investment Fund owns 23% in the Middle East Paper Manufacturing and Production Company for today. We hope that we have succeeded in giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with everything new.
It is also worth noting that the original news has been published and is available on Mecca. The editorial team at Gulf 365 has verified it and it may have been modified, and it may have been completely transferred or quoted from it, and you can read and follow updates on this news from its primary source.
Related news:
1704572796
#Investment #Fund #owns #Middle #East #Paper #Manufacturing #Production #Company