City Cement to establish mining services subsidiary

City Cement's factory  

City Cement Co. announced that the board of directors approved to establish a 100%-owned limited liability subsidiary based in Riyadh with a capital of SAR 500,000.

The new company will special in providing mining services, according to a statement on Tadawul. It will be established after obtaining the necessary approvals and licenses from the relevant authorities.

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The decision is in line with its strategy, the company said, noting that any developments will be announced in due course.