VOL. XL

No. 40

6-October-1997

SAUDI ARABIA

Canadian-Saudi Mining/Oil Joint Venture Set Up

Canada's Rainbow Petroleum Corporation and Saudi Arabia's Alsuhaimi Group of Companies(a conglomerate of 16 Saudi corporations) have set up a company specializing in mining,oil and gas and environmental projects. The new company - Rainbow Alsuhaimi - will beowned 40% each by the two founding companies and 20% by Mr. Sulaiman Alsuhaimi,Vice-President of Alsuhaimi Group and Chairman of the Board of the...