Halwani starts commercial operations at meat plant, receives sixth installment of SIDF loan
Halwani Brothers [6001.SE] announced the start of commercial operations at its meat plant in its industrial complex in Jeddah Industrial City. Meanwhile, the milk factory which also includes juice and ice cream production is still in its trial phase. The company is yet to announce the financial impact of both factories and the total cost of the project. On another note, the company announced that it received the sixth installment, worth cSAR30 million, of its Saudi Industrial Development Fund (SIDF) loan. Accordingly, Halwani has received a total of SAR133.14 million, or c81% of the loan to date. (Company disclosure) Halwani Brothers: SAR67.68 as of 23 March 2016, Rating: Neutral, FV: SAR85.00 per share, MCap: USD516 million, HB AB / 6001.SE
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