The leading Saudi holding group will soon begin operations in the Central African state of Gabon.

An agreement in this regard was recently signed between Saudi Arabian Al Sharif Holding Group (ASG) and the government of Gabon. The pact was inked by Nawaf Bin Faiz Al Sharif, CEO of ASG, and Gabon’s Minister of Commerce Hugues Mbadinga Madiya, in Libreville.

Al Sharif Holding Group specializes in production, transmission, and distribution of electricity.

"Looking to the business-friendly atmosphere in the country, the Saudi Al Sharif Group Holding will invest in Gabon’s industrial sector and will soon start operation,” Madiya said.

Earlier the Minister received a Saudi delegation led by Nawaf Al Sharif and explored business opportunities in the country.

Al Sharif Group Holding will complete several projects in the country.

Madiya said the meeting with Saudi investors was a part of the diversification of the country’s development policies.