1997 News Story

Commerce ministry establishes tourism company

The Ministry of Commerce has announced the establishment of a share-holding company for the promotion of domestic tourism, to be known as 'ARAC', with a capital of SR 100 million (U.S. $ 26.7 million) divided into one million shares. The headquarters of the company will be in Madinah, and its activities will include setting up, purchasing, and operating tourist villages, hotels, restaurants, public gardens, sports clubs, and equestrian clubs, as well as offering tourist services for pilgrims on Hajj and Umrah.