AlNaqool to establish subsidiary to provide contracting services

Logo of Mohammed Hassan Al-Naqool Sons Co.

Mohammed Hassan AlNaqool Sons Co.’s board of directors approved on Jan. 7 the establishment of a limited liability subsidiary based in Dammam, specializing in providing general contracting services.

According to a statement to Tadawul, AlNaqool’s fully owned subsidiary will have a capital of SAR 100,000.

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This decision is part of the company’s strategy to enhance growth, expand its operations, and diversify its income sources.

The statement pointed out that the incorporation process will be completed, and all necessary approvals and licenses from the relevant authorities will be obtained.

Any material developments in this regard will be announced in due course, in accordance with applicable regulations and laws, the statement added.