VOL. XLVI

No 10

10-March-2003

SAUDI ARABIA

Cabinet Approves Establishment Of Industrialization And Energy Services Company

Oil Minister Ali al-Naimi announced on 4 March that the cabinet had approved the establishment of the Industrialization and Energy Services Company (IESC), capitalized at SR533mn ($142mn). Plans to set it up were announced in 2001 (MEES, 7 October 2001). Mr Naimi said the new company would be involved in industry and in providing industrial support services in the oil,...