GAC approves solutions’ JV agreement with JEDCO

01/08/2024 Argaam
Logo ofArabian Internet and Communications Services Co. (solutions)

Logo of Arabian Internet and Communications Services Co. (solutions)

Arabian Internet and Communications Services Co. (solutions) announced that the General Authority for Competition (GAC) has issued a non-objection to a joint venture (JV) agreement with Jeddah Development and Urban Regeneration Company (JEDCO) to establish a limited liability company.

 

In a statement to Tadawul, the company said the finalization of the deal is subject to meeting additional regulatory and commercial conditions, noting that any significant developments will be announced in due course.

 

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According to data available on Argaam, solutions entered into a JV agreement with JEDCO, the development arm of Jeddah Municipality, aimed at establishing a limited liability company.

 

The primary goal behind establishing this new entity is to facilitate public-private partnerships (PPPs). Through this collaboration, the company intends to deliver technological and digital solutions for projects managed by JEDCO and its affiliated subsidiaries.

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