Minister of Commerce and Industry Abdullah bin Ahmad Zainal Ali Rida has approved turning the company of the Saudi factory for gas cylinders from a company of a limited responsibility into a limited stock company. The capital of the company amounts to SR 23 million and it is split into 2,300,000 shares and the nominal value of each share amounts to SR 10. The Riyadh-based company will be concerned with manufacturing pressurized or liquefied gas vessels in addition to marketing these products in the Kingdom and abroad, and other related activities. The company will be managed by a four-member Board of Directors who are appointed by the company's General Assembly. This development comes within the framework of the state's policy to broaden the economic base and diversify the sources of the national income as well as encouraging the private sector to positively contribute to the process of economic development.
