Once the current civil strife comes to an end, Red Sea plans to finalize construction of its new manufacturing plant in Libya, which was put on hold at the beginning of hostilities there last February.
This facility will add some 300,000 square meters of capacity to the existing three, which are currently located in Saudi Arabia, UAE and Ghana, at an expected cost of SR61 million.
“Our sales in a number of strategic markets around the world have prompted us to further develop our manufacturing capabilities and we believe North Africa will be a sustainable market for our products,” said Don Sumner, managing director of Red Sea Housing Services. He pointed out that the company had witnessed stable growth with the first half-year net income up 38.67 percent over last year.
“Needing to grow the scope and scale of our manufacturing activities is testament to our success and solid reputation, which has resulted in a number of repeat orders from clients over the last 18 months,” Sumner said.
“We see the Libya factory as a good fit with our company’s expansion plans,” he said.
Sumner said the company looked forward to delivering quality accommodation to support long-term clients to help them re-establish their facilities after the end of hostilities.
