Saudi Arabia: The minister of Commerce and Industry, Tawfiq bin Fawzan Al-Rabiah, has approved the establishment of Riyadh-based Baha Cement Company as a closed joint stock company with capital of US$107m. The capital is split into shares and the company shares have been subscribed 50% by partners and the other 50% will be offered for public subscription.
The minister's approval comes within the framework of the state's policy to enhance economic activities in various sectors.