VOL. XXXII

NO. 9

5-DECEMBER-1988

SAUDI ARABIA

NIC to Participate In Three Boeing Offset Companies

The National Industrialization Company (NIC) of Saudi Arabia is toparticipate in three joint venture companies for high-technology projects whichwere set up under the $1.8bn Boeing offset program (MEES, 4 March 1985). Thethree companies are as follows:

- Al-Salam Aircraft Modification Company is capitalized at SR115mn with totalinvestments in the company worth SR460mn. NIC will have a 10% stake in the...