Abdullah Ahmed Zainil, The minister of Commerce and Industry approved here today the establishment of Maramel as closed joint stock Company( Under construction) based in Riyadh. Dr. Hassan Fadh Aqeel, Undersecretary of the Ministry of Commerce and Industry for internal trade said in a statement to SPA that the company"s capital is (2.820.000) million Saudi Riyal, divided into (282.000) million shares with nominal value of 10 Saudi Riyals. The founders subscribed in all the shares of the company. The Company Business includes Factories construction and Management, Marble and Granite Whole sale and retails, Electrical and electronic Appliances. The duration of the company is (99) ninety-nine years starting from the date of the Ministerial approval; the duration may be extended by a resolution of the company's extraordinary general assembly. It is noteworthy that the Company shares cannot be traded only after obtaining the approval of Capital Market Authority (CMA)