Knowledge Economic City Company announces its contribution, on 03/12/2011, in establishing Mounshaat Al Maarifa Al Akaria Co. of SR 500 million fully paid capital and Masharea Al Maarifa Al Akaria Co. of SR 1 billion fully paid capital, where KECs self-financed contribution in each of the two companies totals 99%, while Knowledge Economic City Developers LLCs contribution totals 1% in each.
The purpose of the two companies is to enter into future partnerships with other partners to develop various projects in the Knowledge Economic City, noting that there will be no financial impact on the companys results, since the two established companies have no operational activity at the moment.
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