Riyadh, Asharq Al-Awsat- The minister of commerce and industry has approved the establishment of the cement company in the Northern region as a Saudi stock company with a capital of SR1.2 billion. According to the Saudi Press Agency.
The period of the company is 99 years effective from the date of the decision of the minister of commerce and industry to announce the establishment of the company.
The company will be managed by a 7-memeber board of directors to be appointed by the company’s general assembly for a period of three years.
The establishment of the company comes within the framework of the government’s policy to broaden and diversify the economic base and to encourage the private sector to positively contribute to the process of acceleration of the wheel of the economic development in the country