Egypt’s Icon To Establish Subsidiary in Saudi Arabia With Capital of $1.3M

RIYADH: Industrial Engineering Co. for Construction and Development, known as Icon, said its board has agreed to establish a company as per the regulating laws in Saudi Arabia with capital of SR5 million ($1.3 million)

The new company will manufacture, deliver, and install prefabricated buildings and caravans, Icon said in a filing with the Egyptian Stock Exchange.

Since its establishment in 1977, Icon has pioneered the use of steel construction cladding in Egypt.