Shuaiba Industrial Company joins venture in Sudan by 33% participation

30/09/2009 00:00 AST

The Kuwait Stock Exchange (KSE) announced on Tuesday that Shuaiba Industrial Company (SIC) signed a contract to participate in the capital of Atbra Cement Company Ltd. which manufactures cement sacs, at a cost 11 million U.S. dollars in Sudan. The SICs share in the suggested capital is 33 percent, KSE said on its website.

The SIC is to manage and monitor the project starting from the construction, establishment and implementation. The project is expected to due doe delivery in the first quarter of 2011.

The SIC was established in 1978 and was listed in the KSE in 1996 with a paid-up capital of 5.06 million Kuwaiti dinars (approximately $17.9 million).

The SIC is specialized in manufacturing paper materials, bags, cups, napkins and trading.


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