Dana Cement, a new cement company with a capital of 1.1 bln Saudi riyals (US$293m), will start operations in Saudi Arabia, local media reported on May 28, 2006. The company will be headquartered in the capital Riyadh and will be active in manufacturing and wholesale and retail trade of Portland cement.
Dana Cement’s capital will be divided into 110 million shares with a par value of 10 riyals ($2.67/2.09 euro). Dana Cement will be a closed shareholding company. Its founders have already subscribed to 25 per cent of its capital.