Arabian Aramco Total Services Co. will set up a new company to engage in corporate social responsibility and implement a program aimed at assisting small and medium enterprises, the company said in a statement to Tadawul.
The new company will be a subsidiary of Saudi Aramco Total Refining and Petrochemical Co. (SATORP), the major shareholder of Arabian Aramco Total Services.
SATORP will finance the new entity with $10 million per year for ten years, in addition to giving administrative assistance.
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