The Minister of Commerce and Industry, Abdullah bin Ahmed Zaynal Ali Reza approved today the establishment and transformation of 5 companies with capitals of SR 524 million. Dr. Hassan Fadhel Aqeel, the Deputy of the Ministry of Commerce and Industry for Internal Trade said in a statement that the companies included Saudi Company for Special Laboratories with a capital of SR 500 million; Real Estate Mi'mar Company (SR 10 million); Rajhi Company for Heavy Industries (SR 10 million); Real Estate Gulf Center Company (SR 2 million); and Muaiqel Company for Trade and Contracting (SR 2 million). He pointed out that the Companies' nominal value of each share is SR 10; and the founders have subscribed to all shares. The duration of the company is 99 years starting from the date of the ministerial approval; and the duration may be extended by a resolution of the company's extraordinary general assembly.
