The Ministry of Commerce and Industry has approved the conversion of Al-Qaryan Group for Trade, Industry, and Contracting from a limited liability company to a closed joint-stock company with a capital of 70 million riyals, divided into 7 million shares with a par value of 10 riyals. The partners have subscribed to all shares of the company, which is headquartered in Dammam.

The company’s objectives include wholesale and retail trade in iron, steel, metal products, and scrap metal, general building contracting (repair, demolition, restoration, construction, land acquisition, and the construction and investment of buildings on such land for sale or lease for the benefit of the company).

The Ministry’s approval of the company’s transformation comes within the framework of the state’s policy aimed at boosting economic activity across various sectors and enhancing the competitiveness of the national economy in the face of regional and international challenges and competition.