Major Saudi energy firms pledge SR525 million in fight against coronavirus

Saudi Arabia’s Aramco Sets the IPO Price Range Between 30 and 32 Riyals Per Share
Saudi Arabia’s Aramco Sets the IPO Price Range Between 30 and 32 Riyals Per Share

 Joining hands with the government in the fight againstthe coronavirus pandemic, major Saudi energy companies have contributeda whopping SR525 million to the country's Health Endowment Fund, Saudi PressAgency reported on Wednesday.

The movefollows Custodian of the Two Holy Mosques King Salman's call for support to thenational health efforts being made to combat the pandemic and the directives ofCrown Prince Muhammad Bin Salman, deputy premier and minister of defense, whois continuously monitoring the coordination and cooperation among variousgovernment agencies.

Welcoming thecontribution, the Minister of Health Dr. Tawfiq Al-Rabiah, who is also thechairman of the Board of Directors of Health Endowment Fund, expressedhis gratitude to the Ministry of Energy and major companies operating inthe field of oil and gas, renewable energy, electricity and petrochemicals forthe initiative.

The HealthEndowment Fund is a legal entity established by a decision of the Cabinet andaims to enhance the role of society in supporting government efforts in healthdevelopment.

Out of thetotal SR525 million contribution to the fund, SR200 came from Saudi Aramco.

"Thesupport is an extension of Saudi Aramco's national role and the fulfillment ofits responsibility towards the society," the company said.

In a separateannouncement, the Saudi Electricity Company (SEC) and its partners pledged SR30million contribution, while the company's contractors and suppliers vowed acontribution of SR 24.65 million.

The companysaid that it is part of its national duty to support the government as well asin appreciation of the efforts of the health personnel.

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