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Saudi Arabia’s Taqa Plans Acquisitions to Expand, Al-Riyadh Says

Saudi Arabia’s Industrialization & Energy Services Co., which counts Saudi Arabian Oil Co. as its main client, plans to expand its business through acquisitions or establishing energy companies, al-Riyadh reported.

The company, known as Taqa, plans to distribute a 0.5 riyal-a-share (13 cents) dividend for 2011, the newspaper reported, citing a shareholders’ meeting. The Saudi government holds a 45 percent stake in the company.

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