The Saudi Paper Manufacturing Co. signed an SR 300M (USD 80M) deal to purchase a tissue paper manufacturing machine for its fifth production line from Italian firm Toscotec.
Through the agreement, the company aims to expand its production capacity for raw tissue paper rolls from 130,000 tons to 190,000 tons, according to a bourse filing.
The company said the agreement will boost its market share as well as support exports to other countries and the Middle East as part of the 2030 plan.