Saudi Arabia approves new plant

Saudi Arabia’s Ministry of Trade and Industry has approved the establishment of a 1.021 bln Saudi riyals (US$272m) cement plant, it was reported on April 13, 2005. The company is called Jouf Cement Co and is headquartered in the capital Riyadh. Jouf Cement’s capital is divided into 102.1 million shares with a par value of 10 riyals (US$2.67). The company’s activities include cement production, and wholesale and retail trade in cement and other construction materials.