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Paper factory to invest heavily in the MENA region
18 Jul 2010The Nuqul GroupNuqul Group has announced a $50 million expansion plan in its hygienic paper factories in Jordan, Saudi Arabia and Egypt in addition to establishing a factory in Morocco. The group's vice chairman Ghassan NuqulNuqulsaid the 50 per cent of funds required to cover expansion plans will be from the group's self resources while the rest of the finance will be through bank loans.
He added that the company is also planning to enter strategic partnerships with local and foreign companies in various fields. He noted that the group, which consists of 31 companies and have access to 45 markets globally, succeeded to score historical financial results in 2009 despite the global financial crisis.
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Source: Cityscape Intelligence
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