SGS to set up travel, tourism services unit

Saudi Ground Services Co.’s (SGS) board of directors approved on May 23 to set up a new wholly owned limited liability subsidiary in Saudi Arabia, according to a statement to Tadawul.

The new unit, “Ground Service Co. for Travel and Tourism Services” is capitalized at SAR 500,000”, the statement added.

This decision follows the fulfillment of the set requirements and the other regulatory approvals. The new company will be engaged in travel agency activities and will provide air transport services.

This step is in line with the company’s growth strategy aimed at developing business activities and diversifying revenue, the statement added.