Riyadh-Mubasher: The National Metal Manufacturing and Casting Co. (Maadaniyah) said it will likely complete the construction works and installations of the new production line on 31 July, according to the company’s filing to Tadawul.

Maadaniyah will start the trial operations in its new stranded wire production line next September.

Commercial operations will begin in November, the statement added.

In April 2015, the board had approved adding a new production line at a total cost of SAR 30 million, to be financed from loans and the company’s cash resources.

Net earnings for 2015 reached SAR 29 million, rising 41% compared with SAR 20.7 million a year earlier.