SADAFCO announces latest developments of new SAR17mn warehouse in Tabuk
Saudia Dairy and Foodstuff Co. (SADAFCO) [2270.SE] announced that the initial construction contract for the its new warehouse in Tabuk, was awarded to First Technology Contracting Company. The contract is worth SAR13mn, with construction to begin mid-February 2017. The project, which is worth a total of SAR17mn of investments, is expected to be completed in December 2017 and will be funded internally. (Tadawul) SADAFCO: SAAR116.50 as of 1 Feb. 2017, Rating: Buy, TP: SAAR164.00/share, MCap: USD1,010mn, SADAFCO AB/2270.SE
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