City Cement to set up fully-owned waste recycling subsidiary

Logo of City Cement

City Cement Co.’s board of directors approved, during a meeting held on March 10, 2021, to incorporate a 100% owned limited liability subsidiary, with a capital of SAR 500,000 and a registered office in Riyadh.

The company said in a bourse statement that the subsidiary will specialize in providing environmental services and solutions in waste treatment and recycling.

This will be done after obtaining the required approvals and licenses from the relevant authorities.

The decision comes in line with the company's strategy, and any further developments in this regard will be announced in due course.