Al-Rabiah approves transformation and establishment of 3 companies

The Minister of Commerce and Industry, Dr. Tawfiq bin Fawzan Al-Rabiah, has approved the transformation of Riyadh-based Saudi Modern Company for Cables Industry with a capital of SR 75 million and Saudi Modern Company for Metal, Cables and Plastic Industry with a capital of SR 100 million from limited liability companies to closed joint stock companies, and the establishment of Khobar-based Jal Company for Human Resources with a capital of SR 100 million. The capital is split into shares; the nominal value of a share is SR 10. The companies' shares have been fully subscribed by partners. The Minister's approval comes within the framework of the State's policy to enhance economic activities in various sectors.