GAS sets up contracting subsidiary

The subsidiary’s establishment is subject to obtaining the required approvals and licenses from the relevant authorities

GAS Arabian Services Co.'s board of directors approved, on Jan. 6, the establishment of a wholly owned limited liability subsidiary, with a share capital of SAR 1 million, specializing in the construction sector.

This is subject to obtaining the required approvals and licenses from the relevant authorities, the company said in a filing to Tadawul.

The initiative will strengthen the company’s business and accelerate its growth.

Any material developments in this regard will be announced in due course, the statement said.