RIYADH, 24 April 2006 — Owners of 12 air-conditioner factories in Saudi Arabia are studying the option of merging into one company in preparation to be a shareholding company with a capital of around SR1 billion, reported Al-Riyadh newspaper. According to one of the industrialists involved in this project, Nasser Al-Homaid, the minister of commerce welcomed the idea, especially in the face of international competition after Saudi Arabia joined the World Trade Organization.
Plaster Company Gets SR53m Loan
Riyadh, 24 April 2006 —The Saudi Industrial Development Fund signed a financing contract of SR53 million for the Plaster National Company, reported Al-Eqtisadiah newspaper. The fund aims at encouraging businessmen to invest in heavy industries and direct private investment toward large industries that serve the national economy. The Plaster Company is considered the first private company in the Kingdom to receive a loan from the fund and it is the only one in the Middle East to have high technology in manufacturing plaster.
