SGS to set up travel, tourism services unit

SGS equipment

Saudi Ground Services Co.’s (SGS) board of directors approved, on May 23, setting up a new wholly owned limited liability subsidiary in Saudi Arabia, according to a statement to Tadawul.

The new unit, Ground Service Co. for Travel and Tourism Services, is capitalized at SAR 500,000.

This decision follows the fulfillment of the set requirements and the other regulatory approvals. The new company will engage in travel agency activities and provide air transport services.

The move is in line with SGS’ growth strategy, which aims to develop business activities and diversify revenue, the statement said.