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FINANCIAL NEWS
Saudi Polish JV in 2013 with USD2b capital: Media
31 Oct 2012
(MENAFN) Saudi Arabia and Poland are set to form a holding company next year, aimed at implementing major joint projects, Al Sharq Al Awsat reported.
The newspaper said the joint venture would be set up in the first quarter of 2013 with a capital of USD2 billion over the first five years.
The newspaper quoted Yasir Al Harbi, board chairman of the Saudi-Polish Business Council (SPBC), as saying that the firm aims to generate around USD30 billion revenue from the project in the first few years.
The SPBC said the firm is also set to invest in Polish real estate, and is currently in talks to conclude a deal to invest in technology free zones in the Polish cities of Elk and Olsztyn.
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