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Saudi Arabia

NIC Sets Up New Metal Casting Company

The National Industrialization Company (NIC) of Saudi Arabia has recently setup the National Company for Manufacturing and Casting of Metals (Ma'daniyyah)with a capital of SR100mn divided into 1mn shares of SR100 each. NIC has alreadysubscribed to 30% of the capital and various requests to participate in the newfirm have come from the private sector. At present the company has plans toimplement two projects: a...