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Kuwait-listed Combined Group Contracting Company (CGCC), has completed plans to launch a new subsidiary in the UAE.
CGCC said in a disclosure statement on Thursday that the new entity is called 'Combined Group Asphalt Manufacturing Company.'
It said the new firm has a capital of 3 million UAE dirhams and its functions include mainly manufacturing of asphalt and similar materials.
“We wish to inform you that CGCC has completed the procedures for the establishment of its new subsidiary,” the statement said.
CGCC, one of the largest contracting companies in the Gulf, already has a subsidiary in the UAE under the name 'CGCC Emirates.'
(Writing by N Saeed; Editing by Anoop Menon)
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