“ARDCO” mulls establishing a new LLC. with “Al-Bassamy” instead of “Nomow investment”

03/03/2014 Argaam

Arriyadh Development Company (ARDCO) announced entering into negotiations with Mohammed Saied Al-Bassamy Company for the establishment of a new LLC. to improve the performance of ARDCO’s international auto car auction.

ARDCO previously signed a MoU with Nomow Arab Investment Company regarding this project in December 2013. The MOU was terminated because Nomow is not licensed to practice this business.

The new company is to expand car-related activities such as: buying and selling through various means, auto maintenance, selling spare parts and accessories, car insurance and road assistance services.

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