Saudi GOSI Plans To Boost Invest In Local Cos Beyond SAR87B-Report

Saturday, Jan 28, 2012

BEIRUT (Zawya Dow Jones)--Saudi Arabia's General Organization for Social Insurance, or GOSI, plans to boost its investments in local listed companies operating in diverse profitable and strategic sectors, Saudi-based Al Riyadh daily reports Saturday citing an official.

These investments are currently valued at about 87 billion Saudi riyals ($23.2 billion) and include stakes in the petrochemical sector and in the Saudi Arabian Mining Co. worth SAR29.65 billion and SAR2.3 billion respectively, Suleiman Al Humaid, GOSI's governor, told the paper.

GOSI has recently started a housing project in Jubail Industrial City and expects to complete it in July 2014, Humaid told Al Riyadh. The project involves the construction of 696 residential units at total cost of SAR870 million, he added.

Newspaper website: http://www.alriyadh.com/2012/01/28/article704926.html

-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com

(END) Dow Jones Newswires

28-01-12 0727GMT