VOL. XXXI

NO. 49

12-SEPTEMBER-1988

SAUDI ARABIA

NIC Seeks New Funds

The National Industrialization Company (NIC) of Saudi Arabia needs someSR100mn ($26.7mn) to cover its industrial development program for the next twoyears, according to NIC's Chairman, Dr. Mahsun Jalal. 'The more capital we have,the more work we can do," Dr. Jalal said, adding that NIC had the followingfour options for raising the funds: (a) flotation of new shares; (b) borrowingfrom the Public Investment Fund (PIF); (c) borrowing...