Riyadh – Mubasher: Al Babtain Power and Telecommunication’s board approved establishing a limited liability company.

The company will work in the field of wind energy and take Riyadh as its headquarters, with a capital of SAR 55 million, according to a bourse filing on Sunday.

Al Babtain expected that it will complete obtaining the regulatory approvals for the set-up during the second quarter of 2017.

The new firm will be fully owned by Al Babtain and will be financed from the firm's own resources, the statement said.