JEDDAH, 22 April 2007 — Saudi Commerce and Industry Minister Dr. Hashim Yamani yesterday approved the establishment of Jubail Water & Electricity Co. with a capital of SR5 million. The company will develop, build, own, operate and maintain the Jubail water and electricity project, the Saudi Press Agency said, quoting the ministry. The Jubail-based company will be managed by a seven-member board of directors.